TERRAFOR: 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.
TERRAFOR
Largest movements
- Cash +€4,488
up €4,488 (+116.5%), from €3,853 to €8,342
mainly Net result for the year (+€5,962) and Depreciation (+€4,399)
- Tangible fixed assets -€4,001
down €4,001 (-32.0%), from €12,496 to €8,495
- Receivables within one year +€972
up €972 (+11331.6%), from €9 to €981
- Intangible fixed assets -€398
no longer reported in 2025 (was €398)
- Profit (loss) carried forward +€5,962
up €5,962 (+124.0%), from €4,809 to €10,771
- Trade debts -€5,038
down €5,038 (-62.8%), from €8,026 to €2,988
- Other debts +€188
new in 2025: €188
- Gross operating margin +€8,632
up €8,632 (+240.6%), from €3,587 to €12,219
- Taxes +€1,371
new in 2025: €1,371
- Depreciation +€253
up €253 (+6.1%), from €4,146 to €4,399
- Financial charges +€147
up €147 (+382.0%), from €38 to €185
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 | €16,756 | €17,817 | +€1,061 | +6.3% |
| Fixed assets | 21/28 | €12,895 | €8,495 | -€4,399 | -34.1% |
| Intangible fixed assets | 21 | €398 | - | -€398 | |
| Tangible fixed assets | 22/27 | €12,496 | €8,495 | -€4,001 | -32.0% |
| Furniture and vehicles | 24 | €12,496 | €8,495 | -€4,001 | -32.0% |
| Current assets | 29/58 | €3,862 | €9,322 | +€5,460 | +141.4% |
| Amounts receivable within one year | 40/41 | €9 | €981 | +€972 | +11331.6% |
| Other amounts receivable | 41 | €9 | €981 | +€972 | +11331.6% |
| Cash at bank and in hand | 54/58 | €3,853 | €8,342 | +€4,488 | +116.5% |
| Total equity and liabilities | 10/49 | €16,756 | €17,817 | +€1,061 | +6.3% |
| Equity | 10/15 | €7,309 | €13,271 | +€5,962 | +81.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,809 | €10,771 | +€5,962 | +124.0% |
| Amounts payable | 17/49 | €9,448 | €4,547 | -€4,901 | -51.9% |
| Amounts payable within one year | 42/48 | €9,448 | €4,547 | -€4,901 | -51.9% |
| Trade debts | 44 | €8,026 | €2,988 | -€5,038 | -62.8% |
| Suppliers | 440/4 | €8,026 | €2,988 | -€5,038 | -62.8% |
| Taxes, remuneration and social security | 45 | €1,422 | €1,371 | -€52 | -3.6% |
| Taxes | 450/3 | €1,422 | €1,371 | -€52 | -3.6% |
| Other amounts payable | 47/48 | - | €188 | +€188 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,146 | €4,399 | +€253 | +6.1% |
| Other operating charges | 640/8 | €222 | €301 | +€79 | +35.4% |
| Gross operating margin | 9900 | €3,587 | €12,219 | +€8,632 | +240.6% |
| Operating profit (loss) | 9901 | -€782 | €7,518 | +€8,300 | |
| Financial charges | 65/66B | €38 | €185 | +€147 | +382.0% |
| Recurring financial charges | 65 | €38 | €185 | +€147 | +382.0% |
| Profit (loss) for the period before taxes | 9903 | -€820 | €7,333 | +€8,153 | |
| Income taxes | 67/77 | - | €1,371 | +€1,371 | |
| Profit (loss) for the period | 9904 | -€820 | €5,962 | +€6,782 | |
| Profit (loss) for the period to be appropriated | 9905 | -€820 | €5,962 | +€6,782 |
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 29 September 2026 via checked.be.