TERRACERT: 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.
TERRACERT
Largest movements
- Intangible fixed assets -€60,000
down €60,000 (-44.4%), from €135,000 to €75,000
- Receivables within one year +€35,145
up €35,145 (+39.7%), from €88,559 to €123,704
of which Trade receivables: +€46,804
- Tangible fixed assets -€28,323
down €28,323 (-28.2%), from €100,593 to €72,270
of which Furniture and vehicles: -€27,113
- Stocks and contracts -€8,392
down €8,392 (-20.3%), from €41,351 to €32,959
- Other debts +€133,115
up €133,115 (+119%), from €111,540 to €244,655
- Profit (loss) carried forward -€128,766
down €128,766 (-60.6%), from €212,319 to €83,553
- Debts after one year -€61,360
down €61,360 (-79.9%), from €76,824 to €15,464
- Tax, wage and social debts -€5,978
down €5,978 (-27.8%), from €21,522 to €15,544
- Gross operating margin +€31,611
up €31,611 (+19.8%), from €159,760 to €191,371
- Taxes +€8,386
up €8,386 (+55.4%), from €15,137 to €23,523
- Financial charges -€4,232
down €4,232 (-33.6%), from €12,601 to €8,369
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 | €562,279 | €500,797 | -€61,482 | -10.9% |
| Fixed assets | 21/28 | €239,725 | €151,402 | -€88,323 | -36.8% |
| Intangible fixed assets | 21 | €135,000 | €75,000 | -€60,000 | -44.4% |
| Tangible fixed assets | 22/27 | €100,593 | €72,270 | -€28,323 | -28.2% |
| Plant, machinery and equipment | 23 | €899 | €108 | -€791 | -88.0% |
| Furniture and vehicles | 24 | €97,956 | €70,843 | -€27,113 | -27.7% |
| Other tangible fixed assets | 26 | €1,739 | €1,319 | -€419 | -24.1% |
| Financial fixed assets | 28 | €4,132 | €4,132 | = | 0.0% |
| Current assets | 29/58 | €322,555 | €349,396 | +€26,841 | +8.3% |
| Stocks and contracts in progress | 3 | €41,351 | €32,959 | -€8,392 | -20.3% |
| Stocks | 30/36 | €41,351 | €32,959 | -€8,392 | -20.3% |
| Amounts receivable within one year | 40/41 | €88,559 | €123,704 | +€35,145 | +39.7% |
| Trade receivables | 40 | €76,901 | €123,704 | +€46,804 | +60.9% |
| Other amounts receivable | 41 | €11,658 | €0 | -€11,658 | -100% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,241 | €83,691 | -€1,550 | -1.8% |
| Deferred charges and accrued income | 490/1 | €7,403 | €9,041 | +€1,638 | +22.1% |
| Total equity and liabilities | 10/49 | €562,279 | €500,797 | -€61,482 | -10.9% |
| Equity | 10/15 | €242,319 | €113,553 | -€128,766 | -53.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €212,319 | €83,553 | -€128,766 | -60.6% |
| Amounts payable | 17/49 | €319,960 | €387,245 | +€67,284 | +21.0% |
| Amounts payable after more than one year | 17 | €76,824 | €15,464 | -€61,360 | -79.9% |
| Financial debts | 170/4 | €76,824 | €15,464 | -€61,360 | -79.9% |
| Amounts payable within one year | 42/48 | €232,646 | €361,604 | +€128,959 | +55.4% |
| Current portion of amounts payable after more than one year | 42 | €60,573 | €61,360 | +€786 | +1.3% |
| Trade debts | 44 | €39,010 | €40,046 | +€1,036 | +2.7% |
| Suppliers | 440/4 | €39,010 | €40,046 | +€1,036 | +2.7% |
| Taxes, remuneration and social security | 45 | €21,522 | €15,544 | -€5,978 | -27.8% |
| Taxes | 450/3 | €21,522 | €15,544 | -€5,978 | -27.8% |
| Other amounts payable | 47/48 | €111,540 | €244,655 | +€133,115 | +119% |
| Accrued charges and deferred income | 492/3 | €10,491 | €10,176 | -€315 | -3.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,658 | €88,323 | -€1,335 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €600 | €0 | -€600 | -100% |
| Other operating charges | 640/8 | €1,000 | €1,061 | +€61 | +6.1% |
| Gross operating margin | 9900 | €159,760 | €191,371 | +€31,611 | +19.8% |
| Operating profit (loss) | 9901 | €68,502 | €101,987 | +€33,485 | +48.9% |
| Financial income | 75/76B | - | €1,138 | +€1,138 | |
| Recurring financial income | 75 | - | €1,138 | +€1,138 | |
| Financial charges | 65/66B | €12,601 | €8,369 | -€4,232 | -33.6% |
| Recurring financial charges | 65 | €12,601 | €8,369 | -€4,232 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €55,901 | €94,757 | +€38,855 | +69.5% |
| Income taxes | 67/77 | €15,137 | €23,523 | +€8,386 | +55.4% |
| Profit (loss) for the period | 9904 | €40,764 | €71,234 | +€30,469 | +74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,764 | €71,234 | +€30,469 | +74.7% |
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 22 October 2026 via checked.be.