Terra Nova Holdco: 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 Nova Holdco
Largest movements
- Tangible fixed assets +€403,878
up €403,878 (+96,294%), from €419 to €404,298
of which Land and buildings: +€403,988
- Current investments -€63,000
down €63,000 (-57.8%), from €109,000 to €46,000
- Cash +€9,446
up €9,446 (+83.1%), from €11,361 to €20,807
mainly Debts after one year (+€260,613) and Contributions, distributions and other (+€87,000)
- Receivables within one year -€4,878
down €4,878 (-48.6%), from €10,032 to €5,154
of which Trade receivables: -€9,041
- Debts after one year +€260,613
new in 2025: €260,613
- Contributions +€87,000
up €87,000 (+77.0%), from €113,000 to €200,000
- Profit (loss) carried forward -€18,924
down €18,924 (-44.2%), from -€42,800 to -€61,724
- Current portion of long-term debt +€9,155
new in 2025: €9,155
- Gross operating margin +€26,938
up €26,938 (+76.8%), from -€35,055 to -€8,118
- Depreciation +€3,733
up €3,733 (+2,884%), from €129 to €3,862
- Financial income +€2,674
up €2,674 (+186%), from €1,439 to €4,113
- Other operating charges +€1,151
up €1,151 (+49.0%), from €2,349 to €3,500
- Financial charges +€851
up €851 (+12.7%), from €6,705 to €7,556
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 | €133,797 | €476,559 | +€342,762 | +256% |
| Fixed assets | 21/28 | €3,404 | €404,298 | +€400,893 | +11,776% |
| Tangible fixed assets | 22/27 | €419 | €404,298 | +€403,878 | +96,294% |
| Land and buildings | 22 | - | €403,988 | +€403,988 | |
| Plant, machinery and equipment | 23 | €419 | €310 | -€110 | -26.2% |
| Financial fixed assets | 28 | €2,985 | €0 | -€2,985 | -100% |
| Current assets | 29/58 | €130,393 | €72,261 | -€58,132 | -44.6% |
| Amounts receivable within one year | 40/41 | €10,032 | €5,154 | -€4,878 | -48.6% |
| Trade receivables | 40 | €9,041 | €0 | -€9,041 | -100% |
| Other amounts receivable | 41 | €991 | €5,154 | +€4,163 | +420% |
| Current investments | 50/53 | €109,000 | €46,000 | -€63,000 | -57.8% |
| Cash at bank and in hand | 54/58 | €11,361 | €20,807 | +€9,446 | +83.1% |
| Deferred charges and accrued income | 490/1 | - | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €133,797 | €476,559 | +€342,762 | +256% |
| Equity | 10/15 | €70,200 | €138,276 | +€68,076 | +97.0% |
| Contributions | 10/11 | €113,000 | €200,000 | +€87,000 | +77.0% |
| Profit (loss) carried forward | 14 | -€42,800 | -€61,724 | -€18,924 | -44.2% |
| Amounts payable | 17/49 | €63,598 | €338,283 | +€274,686 | +432% |
| Amounts payable after more than one year | 17 | - | €260,613 | +€260,613 | |
| Financial debts | 170/4 | - | €260,613 | +€260,613 | |
| Amounts payable within one year | 42/48 | €63,598 | €76,022 | +€12,425 | +19.5% |
| Current portion of amounts payable after more than one year | 42 | - | €9,155 | +€9,155 | |
| Trade debts | 44 | €1,450 | €2,013 | +€563 | +38.9% |
| Suppliers | 440/4 | €1,450 | €2,013 | +€563 | +38.9% |
| Taxes, remuneration and social security | 45 | €1,386 | €1,242 | -€144 | -10.4% |
| Taxes | 450/3 | €1,386 | €1,242 | -€144 | -10.4% |
| Other amounts payable | 47/48 | €60,762 | €63,612 | +€2,850 | +4.7% |
| Accrued charges and deferred income | 492/3 | - | €1,648 | +€1,648 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129 | €3,862 | +€3,733 | +2,884% |
| Other operating charges | 640/8 | €2,349 | €3,500 | +€1,151 | +49.0% |
| Gross operating margin | 9900 | -€35,055 | -€8,118 | +€26,938 | +76.8% |
| Operating profit (loss) | 9901 | -€37,534 | -€15,480 | +€22,054 | +58.8% |
| Financial income | 75/76B | €1,439 | €4,113 | +€2,674 | +186% |
| Recurring financial income | 75 | €1,439 | €4,113 | +€2,674 | +186% |
| Financial charges | 65/66B | €6,705 | €7,556 | +€851 | +12.7% |
| Recurring financial charges | 65 | €6,705 | €7,556 | +€851 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | -€42,800 | -€18,924 | +€23,876 | +55.8% |
| Profit (loss) for the period | 9904 | -€42,800 | -€18,924 | +€23,876 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,800 | -€18,924 | +€23,876 | +55.8% |
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 28 October 2026 via checked.be.