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.
TERRA
Largest movements
- Receivables within one year -€299,273
down €299,273 (-56.9%), from €525,820 to €226,547
of which Trade receivables: -€326,997
- Tangible fixed assets -€8,915
down €8,915 (-50.1%), from €17,813 to €8,897
- Profit (loss) carried forward -€91,023
down €91,023 (-11.6%), from -€787,159 to -€878,182
- Tax, wage and social debts -€85,255
down €85,255 (-61.0%), from €139,855 to €54,599
of which Remuneration and social security: -€72,248
- Other debts -€74,204
down €74,204 (-8.2%), from €905,265 to €831,061
- Trade debts -€67,658
down €67,658 (-27.3%), from €247,929 to €180,271
- Turnover -€928,807
down €928,807 (-37.2%), from €2.5m to €1.6m
- Purchases and services -€631,602
down €631,602 (-36.5%), from €1.7m to €1.1m
- Staff costs -€525,249
down €525,249 (-53.6%), from €979,794 to €454,546
- Gross operating margin -€383,004
down €383,004 (-46.8%), from €818,852 to €435,848
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 | €567,890 | €249,901 | -€317,989 | -56.0% |
| Fixed assets | 21/28 | €17,813 | €8,897 | -€8,915 | -50.1% |
| Tangible fixed assets | 22/27 | €17,813 | €8,897 | -€8,915 | -50.1% |
| Plant, machinery and equipment | 23 | €17,813 | €8,897 | -€8,915 | -50.1% |
| Current assets | 29/58 | €550,077 | €241,003 | -€309,074 | -56.2% |
| Stocks and contracts in progress | 3 | €4,982 | - | -€4,982 | |
| Contracts in progress | 37 | €4,982 | - | -€4,982 | |
| Amounts receivable within one year | 40/41 | €525,820 | €226,547 | -€299,273 | -56.9% |
| Trade receivables | 40 | €525,763 | €198,766 | -€326,997 | -62.2% |
| Other amounts receivable | 41 | €57 | €27,781 | +€27,724 | +48681.4% |
| Cash at bank and in hand | 54/58 | €9,767 | €8,152 | -€1,614 | -16.5% |
| Deferred charges and accrued income | 490/1 | €9,509 | €6,304 | -€3,205 | -33.7% |
| Total equity and liabilities | 10/49 | €567,890 | €249,901 | -€317,989 | -56.0% |
| Equity | 10/15 | -€725,159 | -€816,182 | -€91,023 | -12.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€787,159 | -€878,182 | -€91,023 | -11.6% |
| Provisions and deferred taxes | 16 | - | €151 | +€151 | |
| Provisions for liabilities and charges | 160/5 | - | €151 | +€151 | |
| Pensions and similar obligations | 160 | - | €151 | +€151 | |
| Amounts payable | 17/49 | €1,293,049 | €1,065,932 | -€227,117 | -17.6% |
| Amounts payable within one year | 42/48 | €1,293,049 | €1,065,932 | -€227,117 | -17.6% |
| Trade debts | 44 | €247,929 | €180,271 | -€67,658 | -27.3% |
| Suppliers | 440/4 | €247,929 | €180,271 | -€67,658 | -27.3% |
| Taxes, remuneration and social security | 45 | €139,855 | €54,599 | -€85,255 | -61.0% |
| Taxes | 450/3 | €31,894 | €18,887 | -€13,008 | -40.8% |
| Remuneration and social security | 454/9 | €107,960 | €35,713 | -€72,248 | -66.9% |
| Other amounts payable | 47/48 | €905,265 | €831,061 | -€74,204 | -8.2% |
| Turnover | 70 | €2,499,787 | €1,570,980 | -€928,807 | -37.2% |
| Non-recurring operating income | 76A | - | €274 | +€274 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,731,752 | €1,100,149 | -€631,602 | -36.5% |
| Remuneration, social security and pensions | 62 | €979,794 | €454,546 | -€525,249 | -53.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,664 | €7,722 | -€3,942 | -33.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €151 | +€151 | |
| Other operating charges | 640/8 | €5,009 | €3,354 | -€1,655 | -33.0% |
| Non-recurring operating charges | 66A | €630 | €621 | -€9 | -1.4% |
| Gross operating margin | 9900 | €818,852 | €435,848 | -€383,004 | -46.8% |
| Operating profit (loss) | 9901 | -€178,246 | -€30,546 | +€147,700 | +82.9% |
| Financial income | 75/76B | €147 | €219 | +€72 | +48.9% |
| Recurring financial income | 75 | €147 | €219 | +€72 | +48.9% |
| Financial charges | 65/66B | €63,506 | €59,231 | -€4,275 | -6.7% |
| Recurring financial charges | 65 | €63,506 | €59,231 | -€4,275 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€241,605 | -€89,558 | +€152,047 | +62.9% |
| Income taxes | 67/77 | €3,319 | €1,464 | -€1,855 | -55.9% |
| Profit (loss) for the period | 9904 | -€244,924 | -€91,023 | +€153,901 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€244,924 | -€91,023 | +€153,901 | +62.8% |
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 10 October 2026 via checked.be.