HDP-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.
HDP-Terra
Largest movements
- Stocks and contracts -€420,238
down €420,238 (-29.0%), from €1.5m to €1.0m
- Cash -€44,281
down €44,281 (-74.8%), from €59,169 to €14,889
mainly Advances received (-€328,499) and Debts after one year (-€175,000)
- Advances received -€328,499
down €328,499 (-100%), from €328,499 to €0
- Debts after one year -€175,000
down €175,000 (-34.7%), from €505,000 to €330,000
- Profit (loss) carried forward +€27,131
up €27,131 (+57.0%), from -€47,620 to -€20,489
- Gross operating margin +€42,179
up €42,179, from -€5,657 to €36,521
- Taxes +€9,078
new in 2025: €9,078
- Financial charges -€404
down €404 (-85.4%), from €473 to €69
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 | €1,511,174 | €1,045,159 | -€466,015 | -30.8% |
| Current assets | 29/58 | €1,511,174 | €1,045,159 | -€466,015 | -30.8% |
| Stocks and contracts in progress | 3 | €1,450,459 | €1,030,222 | -€420,238 | -29.0% |
| Stocks | 30/36 | €1,450,459 | €1,030,222 | -€420,238 | -29.0% |
| Amounts receivable within one year | 40/41 | €1,546 | €49 | -€1,497 | -96.9% |
| Trade receivables | 40 | €1,546 | €49 | -€1,497 | -96.9% |
| Cash at bank and in hand | 54/58 | €59,169 | €14,889 | -€44,281 | -74.8% |
| Total equity and liabilities | 10/49 | €1,511,174 | €1,045,159 | -€466,015 | -30.8% |
| Equity | 10/15 | -€43,870 | -€16,739 | +€27,131 | +61.8% |
| Contributions | 10/11 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,620 | -€20,489 | +€27,131 | +57.0% |
| Amounts payable | 17/49 | €1,555,044 | €1,061,898 | -€493,146 | -31.7% |
| Amounts payable after more than one year | 17 | €505,000 | €330,000 | -€175,000 | -34.7% |
| Financial debts | 170/4 | €505,000 | €330,000 | -€175,000 | -34.7% |
| Amounts payable within one year | 42/48 | €1,050,044 | €731,898 | -€318,146 | -30.3% |
| Financial debts | 43 | €720,000 | €720,000 | = | 0.0% |
| Credit institutions | 430/8 | €720,000 | €720,000 | = | 0.0% |
| Trade debts | 44 | €1,546 | €0 | -€1,546 | -100% |
| Suppliers | 440/4 | €1,546 | €0 | -€1,546 | -100% |
| Advances received on contracts in progress | 46 | €328,499 | €0 | -€328,499 | -100% |
| Taxes, remuneration and social security | 45 | €0 | €9,847 | +€9,847 | |
| Taxes | 450/3 | €0 | €9,847 | +€9,847 | |
| Other amounts payable | 47/48 | €0 | €2,051 | +€2,051 | |
| Other operating charges | 640/8 | €241 | €244 | +€4 | +1.5% |
| Gross operating margin | 9900 | -€5,657 | €36,521 | +€42,179 | |
| Operating profit (loss) | 9901 | -€5,898 | €36,277 | +€42,175 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €473 | €69 | -€404 | -85.4% |
| Recurring financial charges | 65 | €473 | €69 | -€404 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,371 | €36,208 | +€42,579 | |
| Income taxes | 67/77 | - | €9,078 | +€9,078 | |
| Profit (loss) for the period | 9904 | -€6,371 | €27,131 | +€33,502 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,371 | €27,131 | +€33,502 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.