TERRA NULLIUS: 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 NULLIUS
Largest movements
- Cash +€66,274
up €66,274 (+45.8%), from €144,810 to €211,084
mainly Depreciation (+€50,198) and Net result for the year (+€23,710)
- Tangible fixed assets -€35,944
down €35,944 (-24.1%), from €149,442 to €113,498
of which Land and buildings: -€22,066
- Receivables within one year +€5,614
up €5,614 (+237.4%), from €2,365 to €7,979
of which Other amounts receivable: +€5,614
- Profit (loss) carried forward +€23,710
up €23,710 (+21.7%), from -€109,444 to -€85,734
- Advances received +€8,591
new in 2025: €8,591
- Tax, wage and social debts +€8,396
up €8,396 (+28.0%), from €30,005 to €38,401
of which Remuneration and social security: +€14,943
- Other debts -€3,565
down €3,565 (-67.4%), from €5,292 to €1,726
- Gross operating margin -€66,312
down €66,312 (-21.5%), from €308,102 to €241,790
- Staff costs -€52,895
down €52,895 (-24.0%), from €220,437 to €167,543
- Taxes +€5,000
up €5,000 (+50.0%), from -€10,000 to -€5,000
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 | €318,976 | €356,456 | +€37,481 | +11.8% |
| Fixed assets | 21/28 | €149,442 | €113,498 | -€35,944 | -24.1% |
| Tangible fixed assets | 22/27 | €149,442 | €113,498 | -€35,944 | -24.1% |
| Land and buildings | 22 | €83,161 | €61,095 | -€22,066 | -26.5% |
| Plant, machinery and equipment | 23 | €34,935 | €30,063 | -€4,872 | -13.9% |
| Furniture and vehicles | 24 | €31,346 | €22,340 | -€9,006 | -28.7% |
| Current assets | 29/58 | €169,533 | €242,958 | +€73,425 | +43.3% |
| Stocks and contracts in progress | 3 | €20,697 | €19,231 | -€1,466 | -7.1% |
| Stocks | 30/36 | €20,697 | €19,231 | -€1,466 | -7.1% |
| Amounts receivable within one year | 40/41 | €2,365 | €7,979 | +€5,614 | +237.4% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €2,365 | €7,979 | +€5,614 | +237.4% |
| Cash at bank and in hand | 54/58 | €144,810 | €211,084 | +€66,274 | +45.8% |
| Deferred charges and accrued income | 490/1 | €1,661 | €4,664 | +€3,003 | +180.8% |
| Total equity and liabilities | 10/49 | €318,976 | €356,456 | +€37,481 | +11.8% |
| Equity | 10/15 | €219,135 | €242,845 | +€23,710 | +10.8% |
| Contributions | 10/11 | €297,000 | €297,000 | = | 0.0% |
| Reserves | 13 | €31,580 | €31,580 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,277 | €9,277 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,277 | €9,277 | = | 0.0% |
| Distributable reserves | 133 | €22,303 | €22,303 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,444 | -€85,734 | +€23,710 | +21.7% |
| Amounts payable | 17/49 | €99,840 | €113,611 | +€13,771 | +13.8% |
| Amounts payable after more than one year | 17 | €61,500 | €61,500 | = | 0.0% |
| Financial debts | 170/4 | €61,500 | €61,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,340 | €52,111 | +€13,771 | +35.9% |
| Trade debts | 44 | €3,044 | €3,393 | +€349 | +11.5% |
| Suppliers | 440/4 | €3,044 | €3,393 | +€349 | +11.5% |
| Advances received on contracts in progress | 46 | - | €8,591 | +€8,591 | |
| Taxes, remuneration and social security | 45 | €30,005 | €38,401 | +€8,396 | +28.0% |
| Taxes | 450/3 | €18,328 | €11,781 | -€6,547 | -35.7% |
| Remuneration and social security | 454/9 | €11,677 | €26,620 | +€14,943 | +128.0% |
| Other amounts payable | 47/48 | €5,292 | €1,726 | -€3,565 | -67.4% |
| Remuneration, social security and pensions | 62 | €220,437 | €167,543 | -€52,895 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,450 | €50,198 | +€1,748 | +3.6% |
| Other operating charges | 640/8 | €2,206 | €2,157 | -€49 | -2.2% |
| Gross operating margin | 9900 | €308,102 | €241,790 | -€66,312 | -21.5% |
| Operating profit (loss) | 9901 | €37,008 | €21,892 | -€15,117 | -40.8% |
| Financial income | 75/76B | €0 | €704 | +€704 | |
| Recurring financial income | 75 | €0 | €704 | +€704 | |
| Financial charges | 65/66B | €3,791 | €3,886 | +€94 | +2.5% |
| Recurring financial charges | 65 | €3,791 | €3,886 | +€94 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €33,217 | €18,710 | -€14,507 | -43.7% |
| Income taxes | 67/77 | -€10,000 | -€5,000 | +€5,000 | +50.0% |
| Profit (loss) for the period | 9904 | €43,217 | €23,710 | -€19,507 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,217 | €23,710 | -€19,507 | -45.1% |
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 2 October 2026 via checked.be.