Terramoda: 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.
Terramoda
Largest movements
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€56,952
up €56,952 (+29.1%), from €195,433 to €252,386
mainly Current investments (+€150,000) and Other debts (+€127,402)
- Receivables within one year +€19,940
up €19,940 (+47.8%), from €41,677 to €61,617
- Deferred charges and accrued income -€12,540
no longer reported in 2025 (was €12,540)
- Other debts +€127,402
new in 2025: €127,402
- Reserves -€120,347
down €120,347 (-38.8%), from €310,439 to €190,092
- Tax, wage and social debts -€91,470
no longer reported in 2025 (was €91,470)
- Gross operating margin -€196,928
down €196,928 (-91.9%), from €214,307 to €17,379
- Taxes -€60,350
down €60,350 (-93.4%), from €64,588 to €4,237
- Other operating charges +€9,587
up €9,587 (+365.9%), from €2,620 to €12,207
- Financial income +€5,972
up €5,972 (+328.9%), from €1,816 to €7,787
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 | €406,698 | €320,822 | -€85,876 | -21.1% |
| Fixed assets | 21/28 | €7,047 | €6,819 | -€228 | -3.2% |
| Tangible fixed assets | 22/27 | €7,047 | €6,819 | -€228 | -3.2% |
| Furniture and vehicles | 24 | €1,053 | €825 | -€228 | -21.6% |
| Other tangible fixed assets | 26 | €5,995 | €5,995 | = | 0.0% |
| Current assets | 29/58 | €399,651 | €314,003 | -€85,648 | -21.4% |
| Amounts receivable within one year | 40/41 | €41,677 | €61,617 | +€19,940 | +47.8% |
| Other amounts receivable | 41 | €41,677 | €61,617 | +€19,940 | +47.8% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €195,433 | €252,386 | +€56,952 | +29.1% |
| Deferred charges and accrued income | 490/1 | €12,540 | - | -€12,540 | |
| Total equity and liabilities | 10/49 | €406,698 | €320,822 | -€85,876 | -21.1% |
| Equity | 10/15 | €311,439 | €191,092 | -€120,347 | -38.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €310,439 | €190,092 | -€120,347 | -38.8% |
| Distributable reserves | 133 | €310,439 | €190,092 | -€120,347 | -38.8% |
| Amounts payable | 17/49 | €95,259 | €129,730 | +€34,471 | +36.2% |
| Amounts payable within one year | 42/48 | €95,259 | €129,730 | +€34,471 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €1,187 | - | -€1,187 | |
| Trade debts | 44 | €2,602 | €2,328 | -€273 | -10.5% |
| Suppliers | 440/4 | €2,602 | €2,328 | -€273 | -10.5% |
| Taxes, remuneration and social security | 45 | €91,470 | - | -€91,470 | |
| Taxes | 450/3 | €91,470 | - | -€91,470 | |
| Other amounts payable | 47/48 | - | €127,402 | +€127,402 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87 | €228 | +€141 | +162.6% |
| Other operating charges | 640/8 | €2,620 | €12,207 | +€9,587 | +365.9% |
| Gross operating margin | 9900 | €214,307 | €17,379 | -€196,928 | -91.9% |
| Operating profit (loss) | 9901 | €211,600 | €4,944 | -€206,656 | -97.7% |
| Financial income | 75/76B | €1,816 | €7,787 | +€5,972 | +328.9% |
| Recurring financial income | 75 | €1,816 | €7,787 | +€5,972 | +328.9% |
| Financial charges | 65/66B | €610 | €1,440 | +€830 | +136.1% |
| Recurring financial charges | 65 | €610 | €1,440 | +€830 | +136.1% |
| Profit (loss) for the period before taxes | 9903 | €212,806 | €11,292 | -€201,514 | -94.7% |
| Income taxes | 67/77 | €64,588 | €4,237 | -€60,350 | -93.4% |
| Profit (loss) for the period | 9904 | €148,218 | €7,055 | -€141,163 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €148,218 | €7,055 | -€141,163 | -95.2% |
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 9 October 2026 via checked.be.