TERRA WORKS: what changed
TERRA WORKS
Largest movements
- Receivables within one year -€32,215
down €32,215 (-29.1%), from €110,864 to €78,650
of which Trade receivables: -€24,798
- Cash +€22,814
up €22,814 (+34.8%), from €65,602 to €88,416
mainly Depreciation (+€82,779) and Receivables within one year (+€32,215)
- Tangible fixed assets -€7,915
down €7,915 (-3.3%), from €236,401 to €228,486
of which Furniture and vehicles: -€12,634
- Stocks and contracts +€4,323
up €4,323 (+57.3%), from €7,549 to €11,872
- Trade debts -€19,744
down €19,744 (-34.7%), from €56,877 to €37,132
- Reserves +€16,541
up €16,541 (+8.9%), from €185,986 to €202,528
of which Distributable reserves: +€16,541
- Other debts -€15,827
down €15,827 (-11.5%), from €137,724 to €121,897
- Gross operating margin +€17,738
up €17,738 (+12.6%), from €140,934 to €158,672
- Depreciation +€17,715
up €17,715 (+27.2%), from €65,064 to €82,779
- Staff costs +€5,173
up €5,173 (+12.1%), from €42,739 to €47,912
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €429,184 | €414,879 | -€14,305 | -3.3% |
| Fixed assets | 21/28 | €236,401 | €228,486 | -€7,915 | -3.3% |
| Tangible fixed assets | 22/27 | €236,401 | €228,486 | -€7,915 | -3.3% |
| Plant, machinery and equipment | 23 | €73,531 | €78,250 | +€4,720 | +6.4% |
| Furniture and vehicles | 24 | €162,870 | €150,236 | -€12,634 | -7.8% |
| Current assets | 29/58 | €192,783 | €186,392 | -€6,391 | -3.3% |
| Stocks and contracts in progress | 3 | €7,549 | €11,872 | +€4,323 | +57.3% |
| Stocks | 30/36 | €7,549 | €11,872 | +€4,323 | +57.3% |
| Amounts receivable within one year | 40/41 | €110,864 | €78,650 | -€32,215 | -29.1% |
| Trade receivables | 40 | €101,763 | €76,965 | -€24,798 | -24.4% |
| Other amounts receivable | 41 | €9,101 | €1,685 | -€7,416 | -81.5% |
| Cash at bank and in hand | 54/58 | €65,602 | €88,416 | +€22,814 | +34.8% |
| Deferred charges and accrued income | 490/1 | €8,767 | €7,455 | -€1,312 | -15.0% |
| Total equity and liabilities | 10/49 | €429,184 | €414,879 | -€14,305 | -3.3% |
| Equity | 10/15 | €225,986 | €242,528 | +€16,541 | +7.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €185,986 | €202,528 | +€16,541 | +8.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €185,986 | €202,528 | +€16,541 | +8.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €203,198 | €172,351 | -€30,847 | -15.2% |
| Amounts payable within one year | 42/48 | €203,198 | €172,351 | -€30,847 | -15.2% |
| Financial debts | 43 | €1,396 | €2,125 | +€729 | +52.2% |
| Credit institutions | 430/8 | €1,396 | €2,125 | +€729 | +52.2% |
| Trade debts | 44 | €56,877 | €37,132 | -€19,744 | -34.7% |
| Suppliers | 440/4 | €56,877 | €37,132 | -€19,744 | -34.7% |
| Taxes, remuneration and social security | 45 | €7,201 | €11,196 | +€3,995 | +55.5% |
| Taxes | 450/3 | €586 | €4,209 | +€3,622 | +618% |
| Remuneration and social security | 454/9 | €6,614 | €6,987 | +€373 | +5.6% |
| Other amounts payable | 47/48 | €137,724 | €121,897 | -€15,827 | -11.5% |
| Non-recurring operating income | 76A | €18,150 | €2,763 | -€15,387 | -84.8% |
| Remuneration, social security and pensions | 62 | €42,739 | €47,912 | +€5,173 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,064 | €82,779 | +€17,715 | +27.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,131 | €2,680 | +€549 | +25.8% |
| Gross operating margin | 9900 | €140,934 | €158,672 | +€17,738 | +12.6% |
| Operating profit (loss) | 9901 | €30,999 | €25,300 | -€5,699 | -18.4% |
| Financial income | 75/76B | €61 | €0 | -€61 | -99.7% |
| Recurring financial income | 75 | €61 | €0 | -€61 | -99.7% |
| Financial charges | 65/66B | €129 | €79 | -€50 | -38.7% |
| Recurring financial charges | 65 | €129 | €79 | -€50 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €30,931 | €25,221 | -€5,709 | -18.5% |
| Income taxes | 67/77 | €10,004 | €8,680 | -€1,324 | -13.2% |
| Profit (loss) for the period | 9904 | €20,926 | €16,541 | -€4,385 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,926 | €16,541 | -€4,385 | -21.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.