TERRAGREEN: 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.
TERRAGREEN
Largest movements
- Stocks and contracts +€193,192
up €193,192 (+208.4%), from €92,688 to €285,880
- Cash -€146,384
down €146,384 (-64.5%), from €227,019 to €80,635
mainly Stocks and contracts (-€193,192) and Debts after one year (-€69,964)
- Receivables within one year -€55,544
down €55,544 (-36.9%), from €150,691 to €95,147
of which Trade receivables: -€55,825
- Tangible fixed assets -€31,052
down €31,052 (-6.3%), from €490,861 to €459,809
of which Plant, machinery and equipment: -€35,258
- Debts after one year -€69,964
down €69,964 (-28.6%), from €245,026 to €175,062
- Reserves +€32,140
up €32,140 (+8.9%), from €359,860 to €392,000
- Gross operating margin -€68,540
down €68,540 (-26.3%), from €260,505 to €191,964
- Staff costs -€47,393
down €47,393 (-54.0%), from €87,702 to €40,310
- Taxes -€4,875
down €4,875 (-23.9%), from €20,366 to €15,491
- Depreciation -€4,428
down €4,428 (-4.6%), from €95,234 to €90,806
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 | €968,983 | €925,445 | -€43,538 | -4.5% |
| Fixed assets | 21/28 | €491,061 | €460,009 | -€31,052 | -6.3% |
| Tangible fixed assets | 22/27 | €490,861 | €459,809 | -€31,052 | -6.3% |
| Land and buildings | 22 | €277,935 | €259,476 | -€18,459 | -6.6% |
| Plant, machinery and equipment | 23 | €212,926 | €177,668 | -€35,258 | -16.6% |
| Furniture and vehicles | 24 | - | €22,665 | +€22,665 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €477,921 | €465,436 | -€12,485 | -2.6% |
| Stocks and contracts in progress | 3 | €92,688 | €285,880 | +€193,192 | +208.4% |
| Stocks | 30/36 | €92,688 | €285,880 | +€193,192 | +208.4% |
| Amounts receivable within one year | 40/41 | €150,691 | €95,147 | -€55,544 | -36.9% |
| Trade receivables | 40 | €149,365 | €93,540 | -€55,825 | -37.4% |
| Other amounts receivable | 41 | €1,326 | €1,607 | +€281 | +21.2% |
| Cash at bank and in hand | 54/58 | €227,019 | €80,635 | -€146,384 | -64.5% |
| Deferred charges and accrued income | 490/1 | €7,523 | €3,773 | -€3,749 | -49.8% |
| Total equity and liabilities | 10/49 | €968,983 | €925,445 | -€43,538 | -4.5% |
| Equity | 10/15 | €619,180 | €651,329 | +€32,149 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €359,860 | €392,000 | +€32,140 | +8.9% |
| Distributable reserves | 133 | €359,860 | €392,000 | +€32,140 | +8.9% |
| Profit (loss) carried forward | 14 | €240,720 | €240,729 | +€9 | 0.0% |
| Amounts payable | 17/49 | €349,803 | €274,115 | -€75,687 | -21.6% |
| Amounts payable after more than one year | 17 | €245,026 | €175,062 | -€69,964 | -28.6% |
| Financial debts | 170/4 | €245,026 | €175,062 | -€69,964 | -28.6% |
| Amounts payable within one year | 42/48 | €104,776 | €99,053 | -€5,723 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €69,657 | €69,964 | +€307 | +0.4% |
| Trade debts | 44 | €13,488 | €10,701 | -€2,787 | -20.7% |
| Suppliers | 440/4 | €13,488 | €10,701 | -€2,787 | -20.7% |
| Taxes, remuneration and social security | 45 | €17,348 | €13,816 | -€3,532 | -20.4% |
| Taxes | 450/3 | €2,957 | €10,589 | +€7,633 | +258.2% |
| Remuneration and social security | 454/9 | €14,392 | €3,227 | -€11,165 | -77.6% |
| Other amounts payable | 47/48 | €4,283 | €4,572 | +€289 | +6.8% |
| Remuneration, social security and pensions | 62 | €87,702 | €40,310 | -€47,393 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,234 | €90,806 | -€4,428 | -4.6% |
| Other operating charges | 640/8 | €6,597 | €6,849 | +€252 | +3.8% |
| Gross operating margin | 9900 | €260,505 | €191,964 | -€68,540 | -26.3% |
| Operating profit (loss) | 9901 | €70,971 | €53,999 | -€16,972 | -23.9% |
| Financial income | 75/76B | €139 | €150 | +€10 | +7.4% |
| Recurring financial income | 75 | €139 | €150 | +€10 | +7.4% |
| Financial charges | 65/66B | €7,417 | €6,508 | -€909 | -12.3% |
| Recurring financial charges | 65 | €5,715 | €4,683 | -€1,032 | -18.1% |
| Non-recurring financial charges | 66B | €1,702 | €1,825 | +€123 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €63,694 | €47,640 | -€16,053 | -25.2% |
| Income taxes | 67/77 | €20,366 | €15,491 | -€4,875 | -23.9% |
| Profit (loss) for the period | 9904 | €43,328 | €32,149 | -€11,179 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,328 | €32,149 | -€11,179 | -25.8% |
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 9 October 2026 via checked.be.