TERRACENCE: 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.
TERRACENCE
Largest movements
- Receivables within one year +€847,464
up €847,464 (+71.6%), from €1.2m to €2.0m
- Cash -€628,592
down €628,592 (-92.6%), from €678,640 to €50,048
mainly Receivables within one year (-€847,464) and Contributions, distributions and other (-€650,000)
- Financial fixed assets +€100,000
up €100,000 (+2,924%), from €3,420 to €103,420
- Tangible fixed assets +€48,540
up €48,540 (+124%), from €39,056 to €87,596
of which Furniture and vehicles: +€61,334
- Reserves +€395,947
up €395,947 (+27.3%), from €1.5m to €1.8m
of which Distributable reserves: +€395,947
- Other debts -€66,281
down €66,281 (-18.4%), from €361,092 to €294,811
- Tax, wage and social debts +€31,841
up €31,841 (+46.1%), from €69,069 to €100,911
- Gross operating margin +€83,749
up €83,749 (+6.4%), from €1.3m to €1.4m
- Financial income -€34,641
down €34,641 (-35.7%), from €96,963 to €62,322
- Taxes +€22,618
up €22,618 (+6.5%), from €346,039 to €368,657
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 | €1,941,396 | €2,305,105 | +€363,709 | +18.7% |
| Fixed assets | 21/28 | €42,476 | €191,016 | +€148,540 | +350% |
| Tangible fixed assets | 22/27 | €39,056 | €87,596 | +€48,540 | +124% |
| Plant, machinery and equipment | 23 | €39,056 | €26,263 | -€12,794 | -32.8% |
| Furniture and vehicles | 24 | - | €61,334 | +€61,334 | |
| Financial fixed assets | 28 | €3,420 | €103,420 | +€100,000 | +2,924% |
| Current assets | 29/58 | €1,898,919 | €2,114,088 | +€215,169 | +11.3% |
| Amounts receivable within one year | 40/41 | €1,183,241 | €2,030,706 | +€847,464 | +71.6% |
| Other amounts receivable | 41 | €1,183,241 | €2,030,706 | +€847,464 | +71.6% |
| Cash at bank and in hand | 54/58 | €678,640 | €50,048 | -€628,592 | -92.6% |
| Deferred charges and accrued income | 490/1 | €37,038 | €33,334 | -€3,703 | -10.0% |
| Total equity and liabilities | 10/49 | €1,941,396 | €2,305,105 | +€363,709 | +18.7% |
| Equity | 10/15 | €1,469,349 | €1,865,296 | +€395,947 | +26.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,450,749 | €1,846,696 | +€395,947 | +27.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,448,889 | €1,844,836 | +€395,947 | +27.3% |
| Amounts payable | 17/49 | €472,046 | €439,809 | -€32,238 | -6.8% |
| Amounts payable within one year | 42/48 | €464,046 | €431,809 | -€32,238 | -6.9% |
| Trade debts | 44 | €33,885 | €36,087 | +€2,202 | +6.5% |
| Suppliers | 440/4 | €33,885 | €36,087 | +€2,202 | +6.5% |
| Taxes, remuneration and social security | 45 | €69,069 | €100,911 | +€31,841 | +46.1% |
| Taxes | 450/3 | €69,069 | €100,911 | +€31,841 | +46.1% |
| Other amounts payable | 47/48 | €361,092 | €294,811 | -€66,281 | -18.4% |
| Accrued charges and deferred income | 492/3 | €8,000 | €8,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,081 | €25,431 | +€12,350 | +94.4% |
| Other operating charges | 640/8 | €1,484 | €3,947 | +€2,464 | +166% |
| Gross operating margin | 9900 | €1,299,569 | €1,383,318 | +€83,749 | +6.4% |
| Operating profit (loss) | 9901 | €1,285,004 | €1,353,940 | +€68,936 | +5.4% |
| Financial income | 75/76B | €96,963 | €62,322 | -€34,641 | -35.7% |
| Recurring financial income | 75 | €96,963 | €62,322 | -€34,641 | -35.7% |
| Financial charges | 65/66B | €563 | €1,659 | +€1,096 | +195% |
| Recurring financial charges | 65 | €563 | €1,659 | +€1,096 | +195% |
| Profit (loss) for the period before taxes | 9903 | €1,381,405 | €1,414,604 | +€33,199 | +2.4% |
| Income taxes | 67/77 | €346,039 | €368,657 | +€22,618 | +6.5% |
| Profit (loss) for the period | 9904 | €1,035,365 | €1,045,947 | +€10,582 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,035,365 | €1,045,947 | +€10,582 | +1.0% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.