Terrain: 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.
Terrain
Largest movements
- Receivables after one year -€135,000
down €135,000 (-100.0%), from €135,000 to €0
- Cash +€106,239
up €106,239 (+2692.9%), from €3,945 to €110,184
mainly Receivables after one year (+€135,000) and Net result for the year (+€100,611)
- Receivables within one year -€41,604
down €41,604 (-67.0%), from €62,104 to €20,500
of which Trade receivables: -€60,744
- Profit (loss) carried forward -€69,389
down €69,389 (-26.2%), from €264,796 to €195,407
- Trade debts -€10,277
down €10,277 (-74.0%), from €13,894 to €3,617
- Current portion of long-term debt +€10,124
up €10,124 (+49.0%), from €20,652 to €30,776
- Contributions +€6,200
up €6,200 (+50.0%), from €12,400 to €18,600
- Debts after one year -€5,776
down €5,776 (-11.2%), from €51,636 to €45,859
- Gross operating margin +€58,722
up €58,722 (+45.1%), from €130,091 to €188,813
- Staff costs +€39,984
up €39,984 (+299.0%), from €13,371 to €53,355
- Depreciation -€6,270
down €6,270 (-73.0%), from €8,588 to €2,318
- Taxes +€5,904
up €5,904 (+20.5%), from €28,787 to €34,691
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 | €388,742 | €320,238 | -€68,505 | -17.6% |
| Fixed assets | 21/28 | €110,675 | €112,556 | +€1,882 | +1.7% |
| Tangible fixed assets | 22/27 | €100,625 | €102,506 | +€1,882 | +1.9% |
| Furniture and vehicles | 24 | €7,186 | €9,068 | +€1,882 | +26.2% |
| Assets under construction and advance payments | 27 | €93,438 | €93,438 | = | 0.0% |
| Financial fixed assets | 28 | €10,050 | €10,050 | = | 0.0% |
| Current assets | 29/58 | €278,068 | €207,681 | -€70,387 | -25.3% |
| Amounts receivable after more than one year | 29 | €135,000 | €0 | -€135,000 | -100.0% |
| Other amounts receivable | 291 | €135,000 | €0 | -€135,000 | -100.0% |
| Stocks and contracts in progress | 3 | €77,003 | €76,229 | -€774 | -1.0% |
| Stocks | 30/36 | €77,003 | €76,229 | -€774 | -1.0% |
| Amounts receivable within one year | 40/41 | €62,104 | €20,500 | -€41,604 | -67.0% |
| Trade receivables | 40 | €60,744 | €0 | -€60,744 | -100.0% |
| Other amounts receivable | 41 | €1,360 | €20,500 | +€19,139 | +1406.8% |
| Cash at bank and in hand | 54/58 | €3,945 | €110,184 | +€106,239 | +2692.9% |
| Deferred charges and accrued income | 490/1 | €16 | €769 | +€752 | +4658.8% |
| Total equity and liabilities | 10/49 | €388,742 | €320,238 | -€68,505 | -17.6% |
| Equity | 10/15 | €278,671 | €215,482 | -€63,189 | -22.7% |
| Contributions | 10/11 | €12,400 | €18,600 | +€6,200 | +50.0% |
| Reserves | 13 | €1,475 | €1,475 | = | 0.0% |
| Distributable reserves | 133 | €1,475 | €1,475 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,796 | €195,407 | -€69,389 | -26.2% |
| Amounts payable | 17/49 | €110,071 | €104,755 | -€5,316 | -4.8% |
| Amounts payable after more than one year | 17 | €51,636 | €45,859 | -€5,776 | -11.2% |
| Financial debts | 170/4 | €51,636 | €45,859 | -€5,776 | -11.2% |
| Amounts payable within one year | 42/48 | €58,436 | €58,459 | +€23 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €20,652 | €30,776 | +€10,124 | +49.0% |
| Trade debts | 44 | €13,894 | €3,617 | -€10,277 | -74.0% |
| Suppliers | 440/4 | €13,894 | €3,617 | -€10,277 | -74.0% |
| Taxes, remuneration and social security | 45 | €21,430 | €24,066 | +€2,636 | +12.3% |
| Taxes | 450/3 | €19,270 | €17,696 | -€1,574 | -8.2% |
| Remuneration and social security | 454/9 | €2,161 | €6,370 | +€4,209 | +194.8% |
| Other amounts payable | 47/48 | €2,460 | €0 | -€2,460 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €437 | +€437 | |
| Remuneration, social security and pensions | 62 | €13,371 | €53,355 | +€39,984 | +299.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,588 | €2,318 | -€6,270 | -73.0% |
| Other operating charges | 640/8 | €968 | €557 | -€412 | -42.5% |
| Gross operating margin | 9900 | €130,091 | €188,813 | +€58,722 | +45.1% |
| Operating profit (loss) | 9901 | €107,163 | €132,583 | +€25,419 | +23.7% |
| Financial income | 75/76B | €5,736 | €7,304 | +€1,567 | +27.3% |
| Recurring financial income | 75 | €5,736 | €7,304 | +€1,567 | +27.3% |
| Financial charges | 65/66B | €3,972 | €4,584 | +€612 | +15.4% |
| Recurring financial charges | 65 | €3,972 | €4,584 | +€612 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €108,928 | €135,302 | +€26,375 | +24.2% |
| Income taxes | 67/77 | €28,787 | €34,691 | +€5,904 | +20.5% |
| Profit (loss) for the period | 9904 | €80,141 | €100,611 | +€20,471 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,141 | €100,611 | +€20,471 | +25.5% |
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 8 October 2026 via checked.be.