TERRAC: 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.
What changed
TERRAC
NACE 43.120, Site preparation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€15,195
2024 · €16,156-€961
Equity
€572,350
2024 · €557,155+€15,195
Cash
€52,469
2024 · €62,386-€9,917
Balance sheet total
€4.8m
2024 · €4.9m-€81,906
Largest movements
Assets
- Stocks and contracts -€82,789
down €82,789 (-7.8%), from €1.1m to €980,454
Equity and liabilities
- Debts after one year -€177,526
down €177,526 (-10.6%), from €1.7m to €1.5m
of which Financial debts: -€149,926
- Short-term financial debts +€100,000
up €100,000 (+20.4%), from €490,000 to €590,000
- Accrued charges and deferred income -€53,491
down €53,491 (-87.4%), from €61,178 to €7,687
Income statement
- Gross operating margin +€155,260
up €155,260 (+12.9%), from €1.2m to €1.4m
- Depreciation +€59,908
up €59,908 (+13.8%), from €433,355 to €493,263
- Staff costs +€51,575
up €51,575 (+8.1%), from €634,761 to €686,337
- Write-downs +€20,098
new in 2025: €20,098
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.
Result 2024
€16,156
Gross operating margin
+€155,260
Staff costs
-€51,575
Depreciation
-€59,908
Write-downs
-€20,098
Other operating charges
-€13,462
Other operating items
-€12,693
Financial income
+€3,182
Financial charges
-€4,724
Taxes
+€3,056
Result 2025
€15,195
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.
From operations
+€552,798
Investment
-€504,500
Financing
-€58,216
Cash 2024
€62,386
From operations (derived)
+€552,798
Net result for the year
+€15,195
Depreciation
+€493,263
Stocks and contracts
+€82,789
Receivables within one year
+€22,438
Deferred charges and accrued income
-€22,001
Trade debts
+€41,140
Tax, wage and social debts
+€7,970
Other debts
-€34,504
Accrued charges and deferred income
-€53,491
Investment (derived)
-€504,500
Investment in fixed assets (net)
-€504,500
Financing
-€58,216
Debts after one year
-€177,526
Current portion of long-term debt
+€19,310
Short-term financial debts
+€100,000
Cash 2025
€52,469
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,887,044 | €4,805,138 | -€81,906 | -1.7% |
| Fixed assets | 21/28 | €2,287,035 | €2,298,271 | +€11,237 | +0.5% |
| Tangible fixed assets | 22/27 | €2,286,786 | €2,289,451 | +€2,666 | +0.1% |
| Land and buildings | 22 | €1,092,703 | €1,071,778 | -€20,925 | -1.9% |
| Plant, machinery and equipment | 23 | €487,495 | €462,653 | -€24,842 | -5.1% |
| Furniture and vehicles | 24 | €421,503 | €518,087 | +€96,584 | +22.9% |
| Leasing and similar rights | 25 | €285,085 | €236,933 | -€48,152 | -16.9% |
| Financial fixed assets | 28 | €249 | €8,820 | +€8,571 | +3442.2% |
| Current assets | 29/58 | €2,600,010 | €2,506,867 | -€93,143 | -3.6% |
| Stocks and contracts in progress | 3 | €1,063,243 | €980,454 | -€82,789 | -7.8% |
| Stocks | 30/36 | €1,063,243 | €980,454 | -€82,789 | -7.8% |
| Amounts receivable within one year | 40/41 | €1,427,607 | €1,405,169 | -€22,438 | -1.6% |
| Trade receivables | 40 | €1,304,333 | €1,270,475 | -€33,858 | -2.6% |
| Other amounts receivable | 41 | €123,274 | €134,694 | +€11,420 | +9.3% |
| Cash at bank and in hand | 54/58 | €62,386 | €52,469 | -€9,917 | -15.9% |
| Deferred charges and accrued income | 490/1 | €46,774 | €68,775 | +€22,001 | +47.0% |
| Total equity and liabilities | 10/49 | €4,887,044 | €4,805,138 | -€81,906 | -1.7% |
| Equity | 10/15 | €557,155 | €572,350 | +€15,195 | +2.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €527,155 | €542,350 | +€15,195 | +2.9% |
| Distributable reserves | 133 | €527,155 | €542,350 | +€15,195 | +2.9% |
| Amounts payable | 17/49 | €4,329,890 | €4,232,788 | -€97,101 | -2.2% |
| Amounts payable after more than one year | 17 | €1,680,776 | €1,503,250 | -€177,526 | -10.6% |
| Financial debts | 170/4 | €1,573,856 | €1,423,930 | -€149,926 | -9.5% |
| Trade debts | 175 | €106,920 | €79,320 | -€27,600 | -25.8% |
| Amounts payable within one year | 42/48 | €2,587,936 | €2,721,852 | +€133,916 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €424,953 | €444,264 | +€19,310 | +4.5% |
| Financial debts | 43 | €490,000 | €590,000 | +€100,000 | +20.4% |
| Credit institutions | 430/8 | €490,000 | €590,000 | +€100,000 | +20.4% |
| Trade debts | 44 | €1,465,985 | €1,507,125 | +€41,140 | +2.8% |
| Suppliers | 440/4 | €1,465,985 | €1,507,125 | +€41,140 | +2.8% |
| Taxes, remuneration and social security | 45 | €75,180 | €83,150 | +€7,970 | +10.6% |
| Taxes | 450/3 | €16,156 | €7,216 | -€8,940 | -55.3% |
| Remuneration and social security | 454/9 | €59,025 | €75,935 | +€16,910 | +28.6% |
| Other amounts payable | 47/48 | €131,817 | €97,312 | -€34,504 | -26.2% |
| Accrued charges and deferred income | 492/3 | €61,178 | €7,687 | -€53,491 | -87.4% |
| Non-recurring operating income | 76A | €26,196 | €826 | -€25,369 | -96.8% |
| Remuneration, social security and pensions | 62 | €634,761 | €686,337 | +€51,575 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433,355 | €493,263 | +€59,908 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,098 | +€20,098 | |
| Other operating charges | 640/8 | €29,952 | €43,414 | +€13,462 | +44.9% |
| Non-recurring operating charges | 66A | €1,364 | €14,056 | +€12,693 | +930.9% |
| Gross operating margin | 9900 | €1,199,233 | €1,354,494 | +€155,260 | +12.9% |
| Operating profit (loss) | 9901 | €99,802 | €97,326 | -€2,475 | -2.5% |
| Financial income | 75/76B | €1,222 | €4,404 | +€3,182 | +260.5% |
| Recurring financial income | 75 | €1,222 | €4,404 | +€3,182 | +260.5% |
| Financial charges | 65/66B | €82,686 | €87,409 | +€4,724 | +5.7% |
| Recurring financial charges | 65 | €82,686 | €87,409 | +€4,724 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €18,337 | €14,321 | -€4,017 | -21.9% |
| Income taxes | 67/77 | €2,181 | -€874 | -€3,056 | |
| Profit (loss) for the period | 9904 | €16,156 | €15,195 | -€961 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,156 | €15,195 | -€961 | -5.9% |
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.