TERRAGRA: 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.
TERRAGRA
Largest movements
- Receivables within one year -€54,331
down €54,331 (-11.3%), from €481,881 to €427,550
of which Trade receivables: -€51,057
- Stocks and contracts -€44,100
no longer reported in 2025 (was €44,100)
- Cash +€24,906
up €24,906 (+67.6%), from €36,817 to €61,723
mainly Receivables within one year (+€54,331) and Stocks and contracts (+€44,100)
- Trade debts -€70,890
down €70,890 (-37.6%), from €188,772 to €117,882
- Short-term financial debts -€53,000
no longer reported in 2025 (was €53,000)
- Profit (loss) carried forward +€42,159
up €42,159 (+9.6%), from €437,987 to €480,145
- Other debts +€11,365
up €11,365 (+10.1%), from €112,197 to €123,562
- Gross operating margin +€9,697
up €9,697 (+14.0%), from €69,051 to €78,747
- Financial income -€6,396
down €6,396 (-57.0%), from €11,211 to €4,816
- Financial charges -€2,637
down €2,637 (-19.7%), from €13,358 to €10,721
- Other operating charges -€1,327
down €1,327 (-13.5%), from €9,829 to €8,502
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 | €884,380 | €816,027 | -€68,353 | -7.7% |
| Fixed assets | 21/28 | €20,628 | €26,754 | +€6,127 | +29.7% |
| Tangible fixed assets | 22/27 | €20,628 | €26,754 | +€6,127 | +29.7% |
| Land and buildings | 22 | €14,718 | €26,300 | +€11,581 | +78.7% |
| Furniture and vehicles | 24 | €5,909 | €455 | -€5,455 | -92.3% |
| Current assets | 29/58 | €863,753 | €789,272 | -€74,480 | -8.6% |
| Stocks and contracts in progress | 3 | €44,100 | - | -€44,100 | |
| Stocks | 30/36 | €44,100 | - | -€44,100 | |
| Amounts receivable within one year | 40/41 | €481,881 | €427,550 | -€54,331 | -11.3% |
| Trade receivables | 40 | €424,647 | €373,590 | -€51,057 | -12.0% |
| Other amounts receivable | 41 | €57,233 | €53,959 | -€3,274 | -5.7% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,817 | €61,723 | +€24,906 | +67.6% |
| Deferred charges and accrued income | 490/1 | €955 | - | -€955 | |
| Total equity and liabilities | 10/49 | €884,380 | €816,027 | -€68,353 | -7.7% |
| Equity | 10/15 | €510,598 | €552,757 | +€42,159 | +8.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €10,611 | €10,611 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,411 | €4,411 | = | 0.0% |
| Profit (loss) carried forward | 14 | €437,987 | €480,145 | +€42,159 | +9.6% |
| Amounts payable | 17/49 | €373,782 | €263,270 | -€110,512 | -29.6% |
| Amounts payable within one year | 42/48 | €365,107 | €254,924 | -€110,182 | -30.2% |
| Financial debts | 43 | €53,000 | - | -€53,000 | |
| Credit institutions | 430/8 | €53,000 | - | -€53,000 | |
| Trade debts | 44 | €188,772 | €117,882 | -€70,890 | -37.6% |
| Suppliers | 440/4 | €188,772 | €117,882 | -€70,890 | -37.6% |
| Taxes, remuneration and social security | 45 | €11,138 | €13,480 | +€2,342 | +21.0% |
| Taxes | 450/3 | €11,138 | €13,480 | +€2,342 | +21.0% |
| Other amounts payable | 47/48 | €112,197 | €123,562 | +€11,365 | +10.1% |
| Accrued charges and deferred income | 492/3 | €8,676 | €8,346 | -€330 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,332 | €8,041 | +€708 | +9.7% |
| Other operating charges | 640/8 | €9,829 | €8,502 | -€1,327 | -13.5% |
| Gross operating margin | 9900 | €69,051 | €78,747 | +€9,697 | +14.0% |
| Operating profit (loss) | 9901 | €51,889 | €62,205 | +€10,316 | +19.9% |
| Financial income | 75/76B | €11,211 | €4,816 | -€6,396 | -57.0% |
| Recurring financial income | 75 | €11,211 | €4,816 | -€6,396 | -57.0% |
| Financial charges | 65/66B | €13,358 | €10,721 | -€2,637 | -19.7% |
| Recurring financial charges | 65 | €13,358 | €10,721 | -€2,637 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €49,743 | €56,300 | +€6,557 | +13.2% |
| Income taxes | 67/77 | €13,397 | €14,141 | +€743 | +5.5% |
| Profit (loss) for the period | 9904 | €36,345 | €42,159 | +€5,814 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €36,345 | €42,159 | +€5,814 | +16.0% |
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 4 October 2026 via checked.be.