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.
What changed
TERRA
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€743,677
2024 · €946,199-€202,522
Equity
€3.9m
2024 · €6.2m-€2.3m
Cash
€93,592
2024 · €40,765+€52,827
Balance sheet total
€7.0m
2024 · €6.7m+€314,333
Largest movements
Assets
- Stocks and contracts +€127,048
up €127,048 (+2.9%), from €4.4m to €4.5m
- Receivables within one year +€125,173
up €125,173 (+5.8%), from €2.2m to €2.3m
of which Other amounts receivable: +€1.3m
Equity and liabilities
- Short-term financial debts +€2.4m
up €2.4m (+665.8%), from €365,000 to €2.8m
- Profit (loss) carried forward -€2.3m
down €2.3m (-41.8%), from €5.4m to €3.1m
- Tax, wage and social debts +€193,749
up €193,749 (+251.7%), from €76,967 to €270,716
Income statement
- Turnover -€3.0m
down €3.0m (-59.3%), from €5.0m to €2.1m
- Goods and materials -€2.6m
down €2.6m (-69.9%), from €3.7m to €1.1m
of which Change in stocks: decrease (increase): -€3.1m
- Write-downs -€139,624
no longer reported in 2025 (was €139,624)
- Financial income +€82,055
up €82,055 (+210.2%), from €39,033 to €121,088
- Other operating income -€68,265
no longer reported in 2025 (was €68,265)
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.
Result 2024
€946,199
Turnover
-€3.0m
Other operating income
-€68,265
Goods and materials
+€2.6m
Services and other goods
-€1,718
Write-downs
+€139,624
Other operating charges
+€30,507
Financial income
+€82,055
Financial charges
+€62,337
Taxes
-€18,749
Result 2025
€743,677
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.
From operations
+€622,827
Investment
€0
Financing
-€570,000
Cash 2024
€40,765
From operations (derived)
+€622,827
Net result for the year
+€743,677
Stocks and contracts
-€127,048
Receivables within one year
-€125,173
Deferred charges and accrued income
-€9,285
Trade debts
-€62,463
Tax, wage and social debts
+€193,749
Accrued charges and deferred income
+€9,370
Financing
-€570,000
Short-term financial debts
+€2.4m
Contributions, distributions and other
-€3.0m
Cash 2025
€93,592
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,676,502 | €6,990,835 | +€314,333 | +4.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €110,000 | €110,000 | = | 0.0% |
| Financial fixed assets | 28 | €110,000 | €110,000 | = | 0.0% |
| Affiliated companies | 280/1 | €110,000 | €110,000 | = | 0.0% |
| Participating interests | 280 | €110,000 | €110,000 | = | 0.0% |
| Current assets | 29/58 | €6,566,502 | €6,880,835 | +€314,333 | +4.8% |
| Stocks and contracts in progress | 3 | €4,356,667 | €4,483,715 | +€127,048 | +2.9% |
| Stocks | 30/36 | €4,356,667 | €4,483,715 | +€127,048 | +2.9% |
| Property held for sale | 35 | €4,356,667 | €4,483,715 | +€127,048 | +2.9% |
| Amounts receivable within one year | 40/41 | €2,169,070 | €2,294,243 | +€125,173 | +5.8% |
| Trade receivables | 40 | €1,243,567 | €99,746 | -€1.1m | -92.0% |
| Other amounts receivable | 41 | €925,503 | €2,194,496 | +€1.3m | +137.1% |
| Cash at bank and in hand | 54/58 | €40,765 | €93,592 | +€52,827 | +129.6% |
| Deferred charges and accrued income | 490/1 | - | €9,285 | +€9,285 | |
| Total equity and liabilities | 10/49 | €6,676,502 | €6,990,835 | +€314,333 | +4.7% |
| Equity | 10/15 | €6,167,302 | €3,910,978 | -€2.3m | -36.6% |
| 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% |
| Reserves | 13 | €709,817 | €709,817 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,217 | €36,217 | = | 0.0% |
| Legal reserve | 130 | €36,217 | €36,217 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €0 | = | 0.0% |
| Distributable reserves | 133 | €673,600 | €673,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,395,485 | €3,139,162 | -€2.3m | -41.8% |
| Amounts payable | 17/49 | €509,200 | €3,079,856 | +€2.6m | +504.8% |
| Amounts payable within one year | 42/48 | €509,200 | €3,070,486 | +€2.6m | +503.0% |
| Financial debts | 43 | €365,000 | €2,795,000 | +€2.4m | +665.8% |
| Credit institutions | 430/8 | €365,000 | €2,795,000 | +€2.4m | +665.8% |
| Trade debts | 44 | €67,233 | €4,770 | -€62,463 | -92.9% |
| Suppliers | 440/4 | €67,233 | €4,770 | -€62,463 | -92.9% |
| Taxes, remuneration and social security | 45 | €76,967 | €270,716 | +€193,749 | +251.7% |
| Taxes | 450/3 | €76,967 | €270,716 | +€193,749 | +251.7% |
| Accrued charges and deferred income | 492/3 | - | €9,370 | +€9,370 | |
| Operating income | 70/76A | €5,114,241 | €2,056,178 | -€3.1m | -59.8% |
| Turnover | 70 | €5,045,976 | €2,056,178 | -€3.0m | -59.3% |
| Other operating income | 74 | €68,265 | - | -€68,265 | |
| Operating charges | 60/66A | €3,882,052 | €1,152,155 | -€2.7m | -70.3% |
| Goods for resale, raw materials and consumables | 60 | €3,662,956 | €1,101,472 | -€2.6m | -69.9% |
| Purchases | 600/8 | €597,124 | €1,146,448 | +€549,324 | +92.0% |
| Change in stocks: decrease (increase) | 609 | €3,065,832 | -€44,976 | -€3.1m | |
| Services and other goods | 61 | €7,482 | €9,200 | +€1,718 | +23.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €139,624 | - | -€139,624 | |
| Other operating charges | 640/8 | €71,990 | €41,483 | -€30,507 | -42.4% |
| Operating profit (loss) | 9901 | €1,232,188 | €904,023 | -€328,165 | -26.6% |
| Financial income | 75/76B | €39,033 | €121,088 | +€82,055 | +210.2% |
| Recurring financial income | 75 | €39,033 | €121,088 | +€82,055 | +210.2% |
| Income from current assets | 751 | €18,177 | €121,088 | +€102,911 | +566.2% |
| Other financial income | 752/9 | €20,856 | - | -€20,856 | |
| Financial charges | 65/66B | €73,056 | €10,719 | -€62,337 | -85.3% |
| Recurring financial charges | 65 | €73,056 | €10,719 | -€62,337 | -85.3% |
| Debt charges | 650 | €66,032 | €5 | -€66,027 | -100.0% |
| Other financial charges | 652/9 | €7,024 | €10,714 | +€3,690 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €1,198,165 | €1,014,393 | -€183,773 | -15.3% |
| Income taxes | 67/77 | €251,967 | €270,716 | +€18,749 | +7.4% |
| Taxes | 670/3 | €251,967 | €270,716 | +€18,749 | +7.4% |
| Profit (loss) for the period | 9904 | €946,199 | €743,677 | -€202,522 | -21.4% |
| Transfer from tax-exempt reserves | 789 | €508,637 | - | -€508,637 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,454,835 | €743,677 | -€711,159 | -48.9% |
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 12 October 2026 via checked.be.