H2 TERRA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
H2 TERRA
Largest movements
- Tangible fixed assets +€306,600
up €306,600 (+103%), from €298,442 to €605,042
- Receivables within one year +€88,746
up €88,746 (+207%), from €42,849 to €131,595
of which Trade receivables: +€46,052
- Debts after one year +€278,183
up €278,183 (+114%), from €245,070 to €523,253
- Other debts +€63,454
new in 2025: €63,454
- Current portion of long-term debt +€32,612
up €32,612 (+71.7%), from €45,468 to €78,080
- Reserves +€28,214
up €28,214 (+86.8%), from €32,503 to €60,717
- Trade debts -€20,023
down €20,023 (-90.6%), from €22,093 to €2,070
- Taxes -€5,277
down €5,277 (-54.8%), from €9,634 to €4,357
- Gross operating margin -€5,249
down €5,249 (-4.8%), from €109,686 to €104,437
- Depreciation +€4,730
up €4,730 (+9.0%), from €52,637 to €57,367
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €369,768 | €766,491 | +€396,723 | +107% |
| Fixed assets | 21/28 | €298,442 | €605,042 | +€306,600 | +103% |
| Tangible fixed assets | 22/27 | €298,442 | €605,042 | +€306,600 | +103% |
| Furniture and vehicles | 24 | €298,442 | €605,042 | +€306,600 | +103% |
| Current assets | 29/58 | €71,326 | €161,449 | +€90,123 | +126% |
| Amounts receivable within one year | 40/41 | €42,849 | €131,595 | +€88,746 | +207% |
| Trade receivables | 40 | €27,278 | €73,330 | +€46,052 | +169% |
| Other amounts receivable | 41 | €15,571 | €58,265 | +€42,694 | +274% |
| Cash at bank and in hand | 54/58 | €28,477 | €29,384 | +€907 | +3.2% |
| Deferred charges and accrued income | 490/1 | - | €470 | +€470 | |
| Total equity and liabilities | 10/49 | €369,768 | €766,491 | +€396,723 | +107% |
| Equity | 10/15 | €47,503 | €75,717 | +€28,214 | +59.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €32,503 | €60,717 | +€28,214 | +86.8% |
| Distributable reserves | 133 | €32,503 | €60,717 | +€28,214 | +86.8% |
| Amounts payable | 17/49 | €322,265 | €690,774 | +€368,509 | +114% |
| Amounts payable after more than one year | 17 | €245,070 | €523,253 | +€278,183 | +114% |
| Financial debts | 170/4 | €245,070 | €523,253 | +€278,183 | +114% |
| Amounts payable within one year | 42/48 | €77,195 | €147,961 | +€70,766 | +91.7% |
| Current portion of amounts payable after more than one year | 42 | €45,468 | €78,080 | +€32,612 | +71.7% |
| Trade debts | 44 | €22,093 | €2,070 | -€20,023 | -90.6% |
| Suppliers | 440/4 | €22,093 | €2,070 | -€20,023 | -90.6% |
| Taxes, remuneration and social security | 45 | €9,634 | €4,357 | -€5,277 | -54.8% |
| Taxes | 450/3 | €9,634 | €4,357 | -€5,277 | -54.8% |
| Other amounts payable | 47/48 | - | €63,454 | +€63,454 | |
| Accrued charges and deferred income | 492/3 | - | €19,560 | +€19,560 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,637 | €57,367 | +€4,730 | +9.0% |
| Other operating charges | 640/8 | €884 | €499 | -€385 | -43.6% |
| Gross operating margin | 9900 | €109,686 | €104,437 | -€5,249 | -4.8% |
| Operating profit (loss) | 9901 | €56,165 | €46,571 | -€9,594 | -17.1% |
| Financial charges | 65/66B | €14,028 | €14,000 | -€28 | -0.2% |
| Recurring financial charges | 65 | €14,028 | €14,000 | -€28 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €42,137 | €32,571 | -€9,566 | -22.7% |
| Income taxes | 67/77 | €9,634 | €4,357 | -€5,277 | -54.8% |
| Profit (loss) for the period | 9904 | €32,503 | €28,214 | -€4,289 | -13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,503 | €28,214 | -€4,289 | -13.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.