TERRA: what changed
Two fiscal 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.
TERRA
Largest movements
- Tangible fixed assets -€32,806
down €32,806 (-7.8%), from €420,375 to €387,570
of which Plant, machinery and equipment: -€17,991
- Current portion of long-term debt -€54,859
down €54,859 (-80.8%), from €67,907 to €13,048
- Reserves +€46,993
up €46,993 (+13.5%), from €346,891 to €393,883
of which Distributable reserves: +€46,993
- Trade debts -€15,503
down €15,503 (-90.5%), from €17,133 to €1,630
- Debts after one year -€13,048
down €13,048 (-57.1%), from €22,835 to €9,786
- Gross operating margin -€11,594
down €11,594 (-9.8%), from €118,761 to €107,168
- Depreciation -€8,605
down €8,605 (-20.8%), from €41,410 to €32,806
- Other operating charges -€8,296
down €8,296 (-46.4%), from €17,870 to €9,574
- Taxes +€2,105
up €2,105 (+14.9%), from €14,103 to €16,208
- Financial charges -€1,678
down €1,678 (-51.4%), from €3,265 to €1,587
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.
Cash bridge derived
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 | €518,438 | €483,213 | -€35,225 | -6.8% |
| Fixed assets | 21/28 | €420,375 | €387,570 | -€32,806 | -7.8% |
| Tangible fixed assets | 22/27 | €420,375 | €387,570 | -€32,806 | -7.8% |
| Land and buildings | 22 | €320,013 | €307,253 | -€12,760 | -4.0% |
| Plant, machinery and equipment | 23 | €89,579 | €71,588 | -€17,991 | -20.1% |
| Other tangible fixed assets | 26 | €10,783 | €8,728 | -€2,055 | -19.1% |
| Current assets | 29/58 | €98,063 | €95,644 | -€2,420 | -2.5% |
| Amounts receivable within one year | 40/41 | €8,330 | €7,433 | -€897 | -10.8% |
| Other amounts receivable | 41 | €8,330 | €7,433 | -€897 | -10.8% |
| Cash at bank and in hand | 54/58 | €89,733 | €88,211 | -€1,522 | -1.7% |
| Total equity and liabilities | 10/49 | €518,438 | €483,213 | -€35,225 | -6.8% |
| Equity | 10/15 | €408,391 | €455,383 | +€46,993 | +11.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €346,891 | €393,883 | +€46,993 | +13.5% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Legal reserve | 130 | €6,817 | €6,817 | = | 0.0% |
| Distributable reserves | 133 | €340,074 | €387,067 | +€46,993 | +13.8% |
| Amounts payable | 17/49 | €110,048 | €27,830 | -€82,218 | -74.7% |
| Amounts payable after more than one year | 17 | €22,835 | €9,786 | -€13,048 | -57.1% |
| Financial debts | 170/4 | €22,835 | €9,786 | -€13,048 | -57.1% |
| Amounts payable within one year | 42/48 | €87,213 | €18,043 | -€69,170 | -79.3% |
| Current portion of amounts payable after more than one year | 42 | €67,907 | €13,048 | -€54,859 | -80.8% |
| Trade debts | 44 | €17,133 | €1,630 | -€15,503 | -90.5% |
| Suppliers | 440/4 | €17,133 | €1,630 | -€15,503 | -90.5% |
| Taxes, remuneration and social security | 45 | €2,173 | €3,365 | +€1,192 | +54.8% |
| Taxes | 450/3 | €2,173 | €3,365 | +€1,192 | +54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,410 | €32,806 | -€8,605 | -20.8% |
| Other operating charges | 640/8 | €17,870 | €9,574 | -€8,296 | -46.4% |
| Gross operating margin | 9900 | €118,761 | €107,168 | -€11,594 | -9.8% |
| Operating profit (loss) | 9901 | €59,481 | €64,788 | +€5,307 | +8.9% |
| Financial charges | 65/66B | €3,265 | €1,587 | -€1,678 | -51.4% |
| Recurring financial charges | 65 | €3,265 | €1,587 | -€1,678 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €56,216 | €63,201 | +€6,985 | +12.4% |
| Income taxes | 67/77 | €14,103 | €16,208 | +€2,105 | +14.9% |
| Profit (loss) for the period | 9904 | €42,113 | €46,993 | +€4,880 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €42,113 | €46,993 | +€4,880 | +11.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.