TERRANEUF: 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.
TERRANEUF
Largest movements
- Receivables within one year -€77,621
down €77,621 (-39.0%), from €199,048 to €121,427
of which Trade receivables: -€90,687
- Tangible fixed assets -€16,219
down €16,219 (-6.3%), from €256,636 to €240,417
of which Furniture and vehicles: -€16,480
- Deferred charges and accrued income +€11,400
new in 2025: €11,400
- Trade debts -€42,049
down €42,049 (-74.6%), from €56,349 to €14,299
- Reserves -€26,001
down €26,001 (-15.3%), from €169,679 to €143,677
of which Tax-exempt reserves: -€13,001
- Debts after one year -€20,917
down €20,917 (-23.7%), from €88,167 to €67,250
- Other debts +€11,756
up €11,756 (+2,945%), from €399 to €12,155
- Tax, wage and social debts -€10,022
down €10,022 (-50.0%), from €20,054 to €10,032
- Gross operating margin -€157,465
down €157,465 (-74.0%), from €212,874 to €55,409
- Depreciation +€20,596
up €20,596 (+39.6%), from €51,950 to €72,546
- Financial income +€11,319
up €11,319 (+13,844%), from €82 to €11,401
- Taxes -€8,289
down €8,289 (-95.6%), from €8,675 to €386
- Staff costs -€2,428
no longer reported in 2025 (was €2,428)
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.
Derived cash bridge
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 | €462,757 | €378,466 | -€84,291 | -18.2% |
| Fixed assets | 21/28 | €257,272 | €241,053 | -€16,219 | -6.3% |
| Tangible fixed assets | 22/27 | €256,636 | €240,417 | -€16,219 | -6.3% |
| Land and buildings | 22 | €268 | €136 | -€132 | -49.3% |
| Plant, machinery and equipment | 23 | €8,556 | €8,948 | +€392 | +4.6% |
| Furniture and vehicles | 24 | €247,813 | €231,333 | -€16,480 | -6.7% |
| Financial fixed assets | 28 | €636 | €636 | = | 0.0% |
| Current assets | 29/58 | €205,485 | €137,413 | -€68,072 | -33.1% |
| Amounts receivable within one year | 40/41 | €199,048 | €121,427 | -€77,621 | -39.0% |
| Trade receivables | 40 | €198,580 | €107,894 | -€90,687 | -45.7% |
| Other amounts receivable | 41 | €468 | €13,534 | +€13,066 | +2,792% |
| Cash at bank and in hand | 54/58 | €6,436 | €4,586 | -€1,850 | -28.7% |
| Deferred charges and accrued income | 490/1 | - | €11,400 | +€11,400 | |
| Total equity and liabilities | 10/49 | €462,757 | €378,466 | -€84,291 | -18.2% |
| Equity | 10/15 | €253,072 | €227,823 | -€25,250 | -10.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €169,679 | €143,677 | -€26,001 | -15.3% |
| Tax-exempt reserves | 132 | €60,919 | €47,917 | -€13,001 | -21.3% |
| Distributable reserves | 133 | €108,760 | €95,760 | -€13,000 | -12.0% |
| Profit (loss) carried forward | 14 | €64,801 | €65,553 | +€752 | +1.2% |
| Provisions and deferred taxes | 16 | €16,711 | €12,377 | -€4,334 | -25.9% |
| Deferred taxes | 168 | €16,711 | €12,377 | -€4,334 | -25.9% |
| Amounts payable | 17/49 | €192,974 | €138,266 | -€54,708 | -28.3% |
| Amounts payable after more than one year | 17 | €88,167 | €67,250 | -€20,917 | -23.7% |
| Financial debts | 170/4 | €88,167 | €67,250 | -€20,917 | -23.7% |
| Amounts payable within one year | 42/48 | €104,801 | €70,768 | -€34,033 | -32.5% |
| Current portion of amounts payable after more than one year | 42 | €28,000 | €33,000 | +€5,000 | +17.9% |
| Financial debts | 43 | - | €1,282 | +€1,282 | |
| Credit institutions | 430/8 | - | €1,282 | +€1,282 | |
| Trade debts | 44 | €56,349 | €14,299 | -€42,049 | -74.6% |
| Suppliers | 440/4 | €56,349 | €14,299 | -€42,049 | -74.6% |
| Taxes, remuneration and social security | 45 | €20,054 | €10,032 | -€10,022 | -50.0% |
| Taxes | 450/3 | €20,054 | €10,032 | -€10,022 | -50.0% |
| Other amounts payable | 47/48 | €399 | €12,155 | +€11,756 | +2,945% |
| Accrued charges and deferred income | 492/3 | €6 | €248 | +€242 | +4,224% |
| Non-recurring operating income | 76A | €106,408 | €30,000 | -€76,408 | -71.8% |
| Remuneration, social security and pensions | 62 | €2,428 | - | -€2,428 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,950 | €72,546 | +€20,596 | +39.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,157 | €3,769 | -€388 | -9.3% |
| Other operating charges | 640/8 | €1,480 | €1,564 | +€85 | +5.7% |
| Non-recurring operating charges | 66A | €20,492 | - | -€20,492 | |
| Gross operating margin | 9900 | €212,874 | €55,409 | -€157,465 | -74.0% |
| Operating profit (loss) | 9901 | €132,367 | -€22,470 | -€154,837 | |
| Financial income | 75/76B | €82 | €11,401 | +€11,319 | +13,844% |
| Recurring financial income | 75 | €82 | €11,401 | +€11,319 | +13,844% |
| Financial charges | 65/66B | €4,988 | €5,128 | +€140 | +2.8% |
| Recurring financial charges | 65 | €4,988 | €5,128 | +€140 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €127,460 | -€16,198 | -€143,658 | |
| Transfer from deferred taxes | 780 | €4,958 | €4,334 | -€625 | -12.6% |
| Transfer to deferred taxes | 680 | €21,669 | - | -€21,669 | |
| Income taxes | 67/77 | €8,675 | €386 | -€8,289 | -95.6% |
| Profit (loss) for the period | 9904 | €102,075 | -€12,250 | -€114,324 | |
| Transfer from tax-exempt reserves | 789 | €4,088 | €13,001 | +€8,913 | +218% |
| Transfer to tax-exempt reserves | 689 | €65,007 | - | -€65,007 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,156 | €752 | -€40,404 | -98.2% |
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 15 October 2026 via checked.be.