TERRA SILVA: 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 SILVA
Largest movements
- Formation expenses -€333
down €333 (-23.5%), from €1,416 to €1,083
- Cash -€297
down €297 (-11.9%), from €2,503 to €2,205
mainly Net result for the year (-€696)
- Profit (loss) carried forward -€696
down €696 (-177.8%), from -€391 to -€1,087
- Gross operating margin -€209
down €209 (-198.3%), from -€106 to -€315
- Depreciation +€83
up €83 (+33.3%), from €250 to €333
- Financial charges +€12
up €12 (+33.3%), from €36 to €48
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 | €24,610 | €23,979 | -€630 | -2.6% |
| Formation expenses | 20 | €1,416 | €1,083 | -€333 | -23.5% |
| Fixed assets | 21/28 | €20,001 | €20,001 | = | 0.0% |
| Financial fixed assets | 28 | €20,001 | €20,001 | = | 0.0% |
| Current assets | 29/58 | €3,193 | €2,896 | -€297 | -9.3% |
| Amounts receivable within one year | 40/41 | €690 | €690 | = | 0.0% |
| Other amounts receivable | 41 | €690 | €690 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,503 | €2,205 | -€297 | -11.9% |
| Total equity and liabilities | 10/49 | €24,610 | €23,979 | -€630 | -2.6% |
| Equity | 10/15 | €4,609 | €3,913 | -€696 | -15.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€391 | -€1,087 | -€696 | -177.8% |
| Amounts payable | 17/49 | €20,001 | €20,067 | +€66 | +0.3% |
| Amounts payable within one year | 42/48 | €20,001 | €20,067 | +€66 | +0.3% |
| Trade debts | 44 | - | €66 | +€66 | |
| Suppliers | 440/4 | - | €66 | +€66 | |
| Other amounts payable | 47/48 | €20,001 | €20,001 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €250 | €333 | +€83 | +33.3% |
| Gross operating margin | 9900 | -€106 | -€315 | -€209 | -198.3% |
| Operating profit (loss) | 9901 | -€355 | -€648 | -€293 | -82.3% |
| Financial charges | 65/66B | €36 | €48 | +€12 | +33.3% |
| Recurring financial charges | 65 | €36 | €48 | +€12 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | -€391 | -€696 | -€305 | -77.8% |
| Profit (loss) for the period | 9904 | -€391 | -€696 | -€305 | -77.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€391 | -€696 | -€305 | -77.8% |
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 12 October 2026 via checked.be.