TERRALOC: 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.
TERRALOC
Largest movements
- Tangible fixed assets -€103,025
down €103,025 (-41.5%), from €248,503 to €145,479
of which Plant, machinery and equipment: -€59,581
- Deferred charges and accrued income -€67,237
down €67,237 (-91.2%), from €73,748 to €6,511
- Receivables within one year -€57,223
down €57,223 (-43.9%), from €130,449 to €73,226
of which Trade receivables: -€52,000
- Financial fixed assets +€40,000
up €40,000 (+588.8%), from €6,794 to €46,794
- Cash +€9,393
up €9,393 (+25.8%), from €36,386 to €45,779
mainly Depreciation (+€114,856) and Deferred charges and accrued income (+€67,237)
- Debts after one year -€73,866
down €73,866 (-38.0%), from €194,383 to €120,516
- Profit (loss) carried forward -€52,429
down €52,429 (-34.1%), from €153,699 to €101,270
- Trade debts -€48,987
down €48,987 (-100.0%), from €48,987 to €0
- Staff costs +€83,105
up €83,105 (+61.5%), from €135,221 to €218,326
- Taxes -€7,489
down €7,489 (-93.3%), from €8,028 to €539
- Depreciation +€6,634
up €6,634 (+6.1%), from €108,222 to €114,856
- Gross operating margin +€6,441
up €6,441 (+2.3%), from €283,195 to €289,637
- Other operating charges -€5,462
down €5,462 (-55.8%), from €9,792 to €4,330
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 | €541,585 | €363,493 | -€178,092 | -32.9% |
| Fixed assets | 21/28 | €255,297 | €192,272 | -€63,025 | -24.7% |
| Tangible fixed assets | 22/27 | €248,503 | €145,479 | -€103,025 | -41.5% |
| Plant, machinery and equipment | 23 | €150,450 | €90,870 | -€59,581 | -39.6% |
| Furniture and vehicles | 24 | €98,053 | €54,609 | -€43,444 | -44.3% |
| Financial fixed assets | 28 | €6,794 | €46,794 | +€40,000 | +588.8% |
| Current assets | 29/58 | €286,287 | €171,220 | -€115,067 | -40.2% |
| Amounts receivable after more than one year | 29 | €45,704 | €45,704 | = | 0.0% |
| Other amounts receivable | 291 | €45,704 | €45,704 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €130,449 | €73,226 | -€57,223 | -43.9% |
| Trade receivables | 40 | €109,972 | €57,972 | -€52,000 | -47.3% |
| Other amounts receivable | 41 | €20,477 | €15,255 | -€5,222 | -25.5% |
| Cash at bank and in hand | 54/58 | €36,386 | €45,779 | +€9,393 | +25.8% |
| Deferred charges and accrued income | 490/1 | €73,748 | €6,511 | -€67,237 | -91.2% |
| Total equity and liabilities | 10/49 | €541,585 | €363,493 | -€178,092 | -32.9% |
| Equity | 10/15 | €204,159 | €151,730 | -€52,429 | -25.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,860 | €31,860 | = | 0.0% |
| 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 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,699 | €101,270 | -€52,429 | -34.1% |
| Amounts payable | 17/49 | €337,426 | €211,762 | -€125,663 | -37.2% |
| Amounts payable after more than one year | 17 | €194,383 | €120,516 | -€73,866 | -38.0% |
| Financial debts | 170/4 | €194,383 | €120,516 | -€73,866 | -38.0% |
| Amounts payable within one year | 42/48 | €143,043 | €91,246 | -€51,797 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €73,756 | €73,866 | +€110 | +0.1% |
| Trade debts | 44 | €48,987 | €0 | -€48,987 | -100.0% |
| Suppliers | 440/4 | €48,987 | €0 | -€48,987 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,387 | €16,701 | -€1,685 | -9.2% |
| Taxes | 450/3 | €7,530 | €3,162 | -€4,368 | -58.0% |
| Remuneration and social security | 454/9 | €10,857 | €13,539 | +€2,682 | +24.7% |
| Other amounts payable | 47/48 | €1,913 | €678 | -€1,235 | -64.5% |
| Non-recurring operating income | 76A | €63,156 | €0 | -€63,156 | -100.0% |
| Remuneration, social security and pensions | 62 | €135,221 | €218,326 | +€83,105 | +61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,222 | €114,856 | +€6,634 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,111 | €0 | +€4,111 | |
| Other operating charges | 640/8 | €9,792 | €4,330 | -€5,462 | -55.8% |
| Gross operating margin | 9900 | €283,195 | €289,637 | +€6,441 | +2.3% |
| Operating profit (loss) | 9901 | €34,071 | -€47,875 | -€81,946 | |
| Financial income | 75/76B | €40 | €10 | -€30 | -74.2% |
| Recurring financial income | 75 | €40 | €10 | -€30 | -74.2% |
| Financial charges | 65/66B | €6,886 | €4,024 | -€2,861 | -41.6% |
| Recurring financial charges | 65 | €6,886 | €4,024 | -€2,861 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €27,225 | -€51,890 | -€79,115 | |
| Income taxes | 67/77 | €8,028 | €539 | -€7,489 | -93.3% |
| Profit (loss) for the period | 9904 | €19,198 | -€52,429 | -€71,626 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,198 | -€52,429 | -€71,626 |
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.