Terrae One: what changed
Two fiscal 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.
Terrae One
Largest movements
- Tangible fixed assets +€935,719
up €935,719 (+128.0%), from €731,164 to €1.7m
- Receivables within one year -€41,604
down €41,604 (-32.6%), from €127,729 to €86,125
of which Trade receivables: -€50,527
- Debts after one year +€498,104
up €498,104 (+72.4%), from €688,162 to €1.2m
- Other debts +€339,527
up €339,527 (+323.4%), from €105,000 to €444,527
- Trade debts +€74,348
up €74,348 (+12213.6%), from €609 to €74,957
- Profit (loss) carried forward -€46,792
down €46,792 (-76.5%), from -€61,143 to -€107,935
- Short-term financial debts +€38,147
new in 2025: €38,147
- Financial charges +€18,134
up €18,134 (+50.2%), from €36,097 to €54,231
- Gross operating margin +€6,309
up €6,309 (+17.0%), from €37,179 to €43,488
- Depreciation -€3,832
down €3,832 (-10.5%), from €36,341 to €32,509
- Other operating charges +€881
up €881 (+33.1%), from €2,659 to €3,540
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 | €886,067 | €1,789,583 | +€903,516 | +102.0% |
| Fixed assets | 21/28 | €731,164 | €1,666,883 | +€935,719 | +128.0% |
| Tangible fixed assets | 22/27 | €731,164 | €1,666,883 | +€935,719 | +128.0% |
| Land and buildings | 22 | €731,164 | €1,666,883 | +€935,719 | +128.0% |
| Current assets | 29/58 | €154,904 | €122,700 | -€32,203 | -20.8% |
| Amounts receivable within one year | 40/41 | €127,729 | €86,125 | -€41,604 | -32.6% |
| Trade receivables | 40 | €86,764 | €36,237 | -€50,527 | -58.2% |
| Other amounts receivable | 41 | €40,965 | €49,888 | +€8,923 | +21.8% |
| Cash at bank and in hand | 54/58 | €26,868 | €36,326 | +€9,458 | +35.2% |
| Deferred charges and accrued income | 490/1 | €307 | €249 | -€58 | -18.8% |
| Total equity and liabilities | 10/49 | €886,067 | €1,789,583 | +€903,516 | +102.0% |
| Equity | 10/15 | €78,857 | €32,065 | -€46,792 | -59.3% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,143 | -€107,935 | -€46,792 | -76.5% |
| Amounts payable | 17/49 | €807,211 | €1,757,519 | +€950,308 | +117.7% |
| Amounts payable after more than one year | 17 | €688,162 | €1,186,266 | +€498,104 | +72.4% |
| Financial debts | 170/4 | €688,162 | €1,186,266 | +€498,104 | +72.4% |
| Amounts payable within one year | 42/48 | €119,049 | €570,018 | +€450,969 | +378.8% |
| Current portion of amounts payable after more than one year | 42 | €9,830 | €10,209 | +€379 | +3.9% |
| Financial debts | 43 | - | €38,147 | +€38,147 | |
| Credit institutions | 430/8 | - | €38,147 | +€38,147 | |
| Trade debts | 44 | €609 | €74,957 | +€74,348 | +12213.6% |
| Suppliers | 440/4 | €609 | €74,957 | +€74,348 | +12213.6% |
| Advances received on contracts in progress | 46 | €3,610 | €2,178 | -€1,432 | -39.7% |
| Other amounts payable | 47/48 | €105,000 | €444,527 | +€339,527 | +323.4% |
| Accrued charges and deferred income | 492/3 | - | €1,234 | +€1,234 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,341 | €32,509 | -€3,832 | -10.5% |
| Other operating charges | 640/8 | €2,659 | €3,540 | +€881 | +33.1% |
| Gross operating margin | 9900 | €37,179 | €43,488 | +€6,309 | +17.0% |
| Operating profit (loss) | 9901 | -€1,821 | €7,439 | +€9,261 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €36,097 | €54,231 | +€18,134 | +50.2% |
| Recurring financial charges | 65 | €36,097 | €54,231 | +€18,134 | +50.2% |
| Profit (loss) for the period before taxes | 9903 | -€37,919 | -€46,792 | -€8,873 | -23.4% |
| Profit (loss) for the period | 9904 | -€37,919 | -€46,792 | -€8,873 | -23.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,919 | -€46,792 | -€8,873 | -23.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.