TERRA - NET: 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 - NET
Largest movements
- Receivables within one year +€173,675
up €173,675 (+33.1%), from €524,075 to €697,750
of which Trade receivables: +€315,675
- Tangible fixed assets -€147,371
down €147,371 (-14.7%), from €999,138 to €851,767
of which Plant, machinery and equipment: -€101,838
- Debts after one year +€224,350
up €224,350 (+51.3%), from €437,500 to €661,850
- Other debts -€141,978
down €141,978 (-33.4%), from €425,712 to €283,734
- Current portion of long-term debt -€50,207
down €50,207 (-47.5%), from €105,761 to €55,553
- Profit (loss) carried forward -€31,169
down €31,169 (-7.3%), from €424,239 to €393,070
- Financial income +€144,617
new in 2025: €144,617
of which Non-recurring financial income: +€144,612
- Gross operating margin -€32,296
down €32,296 (-33.1%), from €97,716 to €65,420
- Financial charges -€6,016
down €6,016 (-43.7%), from €13,760 to €7,744
- Other operating charges +€3,827
up €3,827 (+39.2%), from €9,766 to €13,593
- Depreciation +€3,334
up €3,334 (+4.5%), from €74,402 to €77,736
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 | €1,543,910 | €1,555,214 | +€11,304 | +0.7% |
| Fixed assets | 21/28 | €999,188 | €851,817 | -€147,371 | -14.7% |
| Tangible fixed assets | 22/27 | €999,138 | €851,767 | -€147,371 | -14.7% |
| Land and buildings | 22 | €788,461 | €732,434 | -€56,027 | -7.1% |
| Plant, machinery and equipment | 23 | €175,729 | €73,891 | -€101,838 | -58.0% |
| Furniture and vehicles | 24 | €34,947 | €45,442 | +€10,494 | +30.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €544,722 | €703,396 | +€158,675 | +29.1% |
| Stocks and contracts in progress | 3 | €4,000 | €4,000 | = | 0.0% |
| Stocks | 30/36 | €4,000 | €4,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €524,075 | €697,750 | +€173,675 | +33.1% |
| Trade receivables | 40 | €382,075 | €697,750 | +€315,675 | +82.6% |
| Other amounts receivable | 41 | €142,000 | - | -€142,000 | |
| Cash at bank and in hand | 54/58 | €16,646 | €1,646 | -€15,000 | -90.1% |
| Total equity and liabilities | 10/49 | €1,543,910 | €1,555,214 | +€11,304 | +0.7% |
| Equity | 10/15 | €444,699 | €413,530 | -€31,169 | -7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Revaluation surpluses | 12 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €424,239 | €393,070 | -€31,169 | -7.3% |
| Amounts payable | 17/49 | €1,099,211 | €1,141,684 | +€42,473 | +3.9% |
| Amounts payable after more than one year | 17 | €437,500 | €661,850 | +€224,350 | +51.3% |
| Financial debts | 170/4 | €437,500 | €661,850 | +€224,350 | +51.3% |
| Amounts payable within one year | 42/48 | €661,711 | €479,834 | -€181,877 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €105,761 | €55,553 | -€50,207 | -47.5% |
| Trade debts | 44 | €124,935 | €137,734 | +€12,798 | +10.2% |
| Suppliers | 440/4 | €124,935 | €137,734 | +€12,798 | +10.2% |
| Taxes, remuneration and social security | 45 | €5,303 | €2,813 | -€2,489 | -46.9% |
| Taxes | 450/3 | €5,303 | €2,813 | -€2,489 | -46.9% |
| Other amounts payable | 47/48 | €425,712 | €283,734 | -€141,978 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,402 | €77,736 | +€3,334 | +4.5% |
| Other operating charges | 640/8 | €9,766 | €13,593 | +€3,827 | +39.2% |
| Non-recurring operating charges | 66A | - | €142,135 | +€142,135 | |
| Gross operating margin | 9900 | €97,716 | €65,420 | -€32,296 | -33.1% |
| Operating profit (loss) | 9901 | €13,548 | -€168,043 | -€181,591 | |
| Financial income | 75/76B | - | €144,617 | +€144,617 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Non-recurring financial income | 76B | - | €144,612 | +€144,612 | |
| Financial charges | 65/66B | €13,760 | €7,744 | -€6,016 | -43.7% |
| Recurring financial charges | 65 | €13,760 | €7,744 | -€6,016 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€212 | -€31,169 | -€30,957 | -14617.0% |
| Profit (loss) for the period | 9904 | -€212 | -€31,169 | -€30,957 | -14617.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€212 | -€31,169 | -€30,957 | -14617.0% |
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.