TERRAKOA: what changed
Two financial 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.
TERRAKOA
Largest movements
- Tangible fixed assets -€13,937
down €13,937 (-5.8%), from €241,154 to €227,217
of which Land and buildings: -€12,180
- Cash +€7,686
up €7,686 (+108.3%), from €7,100 to €14,786
mainly Depreciation (+€20,168) and Net result for the year (+€4,250)
- Receivables within one year -€3,089
down €3,089 (-8.8%), from €35,165 to €32,076
of which Trade receivables: -€7,024
- Debts after one year -€15,453
down €15,453 (-6.8%), from €227,716 to €212,263
- Reserves +€3,185
up €3,185 (+18.9%), from €16,855 to €20,040
of which Distributable reserves: +€3,185
- Gross operating margin +€6,337
up €6,337 (+20.3%), from €31,274 to €37,611
- Taxes +€1,773
up €1,773 (+92.0%), from €1,927 to €3,700
- Depreciation -€806
down €806 (-3.8%), from €20,974 to €20,168
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 | €283,419 | €274,079 | -€9,340 | -3.3% |
| Fixed assets | 21/28 | €241,154 | €227,217 | -€13,937 | -5.8% |
| Tangible fixed assets | 22/27 | €241,154 | €227,217 | -€13,937 | -5.8% |
| Land and buildings | 22 | €235,850 | €223,670 | -€12,180 | -5.2% |
| Plant, machinery and equipment | 23 | €2,140 | €647 | -€1,493 | -69.8% |
| Furniture and vehicles | 24 | €3,164 | €2,900 | -€264 | -8.3% |
| Current assets | 29/58 | €42,265 | €46,862 | +€4,597 | +10.9% |
| Amounts receivable within one year | 40/41 | €35,165 | €32,076 | -€3,089 | -8.8% |
| Trade receivables | 40 | €25,743 | €18,719 | -€7,024 | -27.3% |
| Other amounts receivable | 41 | €9,422 | €13,357 | +€3,935 | +41.8% |
| Cash at bank and in hand | 54/58 | €7,100 | €14,786 | +€7,686 | +108.3% |
| Total equity and liabilities | 10/49 | €283,419 | €274,079 | -€9,340 | -3.3% |
| Equity | 10/15 | €34,389 | €38,640 | +€4,251 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,855 | €20,040 | +€3,185 | +18.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,995 | €18,180 | +€3,185 | +21.2% |
| Profit (loss) carried forward | 14 | -€1,066 | - | +€1,066 | |
| Amounts payable | 17/49 | €249,030 | €235,439 | -€13,591 | -5.5% |
| Amounts payable after more than one year | 17 | €227,716 | €212,263 | -€15,453 | -6.8% |
| Financial debts | 170/4 | €227,716 | €212,263 | -€15,453 | -6.8% |
| Amounts payable within one year | 42/48 | €21,314 | €23,176 | +€1,862 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €15,177 | €15,453 | +€276 | +1.8% |
| Trade debts | 44 | €1,500 | €456 | -€1,044 | -69.6% |
| Suppliers | 440/4 | €1,500 | €456 | -€1,044 | -69.6% |
| Taxes, remuneration and social security | 45 | €4,637 | €7,267 | +€2,630 | +56.7% |
| Taxes | 450/3 | €4,637 | €7,267 | +€2,630 | +56.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,974 | €20,168 | -€806 | -3.8% |
| Other operating charges | 640/8 | €4,836 | €5,065 | +€229 | +4.7% |
| Gross operating margin | 9900 | €31,274 | €37,611 | +€6,337 | +20.3% |
| Operating profit (loss) | 9901 | €5,464 | €12,378 | +€6,914 | +126.5% |
| Financial income | 75/76B | €328 | €332 | +€4 | +1.2% |
| Recurring financial income | 75 | €328 | €332 | +€4 | +1.2% |
| Financial charges | 65/66B | €4,931 | €4,760 | -€171 | -3.5% |
| Recurring financial charges | 65 | €4,931 | €4,760 | -€171 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €861 | €7,950 | +€7,089 | +823.3% |
| Income taxes | 67/77 | €1,927 | €3,700 | +€1,773 | +92.0% |
| Profit (loss) for the period | 9904 | -€1,066 | €4,250 | +€5,316 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,066 | €4,250 | +€5,316 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.