TERRAS - DECOR: what changed
What changed
TERRAS - DECOR
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€56,404
2024 · €166,165-€109,761
Equity
€1.9m
2024 · €1.9m+€56,404
Cash
€201,656
2024 · €130,296+€71,360
Balance sheet total
€2.3m
2024 · €2.3m-€14,726
Largest movements
Assets
- Stocks and contracts +€155,655
up €155,655 (+24.7%), from €629,444 to €785,098
of which Contracts in progress: +€164,095
- Current investments -€149,508
down €149,508 (-18.3%), from €816,949 to €667,441
- Cash +€71,360
up €71,360 (+54.8%), from €130,296 to €201,656
mainly Current investments (+€149,508) and Depreciation (+€109,490)
- Tangible fixed assets -€69,629
down €69,629 (-25.1%), from €277,663 to €208,034
of which Furniture and vehicles: -€56,116
Equity and liabilities
- Reserves +€56,650
up €56,650 (+3.7%), from €1.5m to €1.6m
of which Tax-exempt reserves: +€63,150
- Debts after one year -€24,982
down €24,982 (-79.9%), from €31,254 to €6,272
of which Financial debts: -€31,254
Income statement
- Gross operating margin -€125,915
down €125,915 (-14.4%), from €876,892 to €750,977
- Taxes -€42,982
down €42,982 (-75.8%), from €56,700 to €13,717
- Staff costs +€42,669
up €42,669 (+8.4%), from €506,940 to €549,610
- Write-downs -€17,941
down €17,941, from €17,891 to -€50
- Depreciation -€14,325
down €14,325 (-11.6%), from €123,815 to €109,490
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€166,165
Gross operating margin
-€125,915
Staff costs
-€42,669
Depreciation
+€14,325
Write-downs
+€17,941
Other operating charges
+€1,483
Financial income
-€12,854
Financial charges
-€5,053
Taxes
+€42,982
Result 2025
€56,404
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€6,412
Investment
+€111,284
Financing
-€46,336
Cash 2024
€130,296
From operations (derived)
+€6,412
Net result for the year
+€56,404
Depreciation
+€109,490
Receivables after one year
+€9,838
Stocks and contracts
-€155,655
Receivables within one year
+€18,737
Deferred charges and accrued income
-€7,608
Trade debts
-€18,452
Tax, wage and social debts
-€13,245
Advances received
-€8,138
Other debts
+€15,000
Accrued charges and deferred income
+€40
Investment (derived)
+€111,284
Investment in fixed assets (net)
-€38,224
Current investments
+€149,508
Financing
-€46,336
Debts after one year
-€24,982
Current portion of long-term debt
-€21,354
Cash 2025
€201,656
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,336,767 | €2,322,040 | -€14,726 | -0.6% |
| Fixed assets | 21/28 | €287,518 | €216,252 | -€71,266 | -24.8% |
| Intangible fixed assets | 21 | €4,448 | €2,811 | -€1,637 | -36.8% |
| Tangible fixed assets | 22/27 | €277,663 | €208,034 | -€69,629 | -25.1% |
| Plant, machinery and equipment | 23 | €67,596 | €75,401 | +€7,805 | +11.5% |
| Furniture and vehicles | 24 | €174,871 | €118,755 | -€56,116 | -32.1% |
| Leasing and similar rights | 25 | €35,196 | €13,878 | -€21,318 | -60.6% |
| Financial fixed assets | 28 | €5,408 | €5,408 | = | 0.0% |
| Current assets | 29/58 | €2,049,249 | €2,105,789 | +€56,540 | +2.8% |
| Amounts receivable after more than one year | 29 | €258,364 | €248,526 | -€9,838 | -3.8% |
| Other amounts receivable | 291 | €258,364 | €248,526 | -€9,838 | -3.8% |
| Stocks and contracts in progress | 3 | €629,444 | €785,098 | +€155,655 | +24.7% |
| Stocks | 30/36 | €311,797 | €303,357 | -€8,440 | -2.7% |
| Contracts in progress | 37 | €317,647 | €481,741 | +€164,095 | +51.7% |
| Amounts receivable within one year | 40/41 | €195,587 | €176,850 | -€18,737 | -9.6% |
| Trade receivables | 40 | €149,252 | €119,674 | -€29,578 | -19.8% |
| Other amounts receivable | 41 | €46,335 | €57,176 | +€10,841 | +23.4% |
| Current investments | 50/53 | €816,949 | €667,441 | -€149,508 | -18.3% |
| Cash at bank and in hand | 54/58 | €130,296 | €201,656 | +€71,360 | +54.8% |
| Deferred charges and accrued income | 490/1 | €18,610 | €26,218 | +€7,608 | +40.9% |
| Total equity and liabilities | 10/49 | €2,336,767 | €2,322,040 | -€14,726 | -0.6% |
| Equity | 10/15 | €1,868,721 | €1,925,125 | +€56,404 | +3.0% |
| Contributions | 10/11 | €344,990 | €344,990 | = | 0.0% |
| Capital | 10 | €344,990 | €344,990 | = | 0.0% |
| Issued capital | 100 | €344,990 | €344,990 | = | 0.0% |
| Reserves | 13 | €1,522,987 | €1,579,637 | +€56,650 | +3.7% |
| Non-distributable reserves | 130/1 | €34,499 | €34,499 | = | 0.0% |
| Legal reserve | 130 | €34,499 | €34,499 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,988 | €70,138 | +€63,150 | +904% |
| Distributable reserves | 133 | €1,481,500 | €1,475,000 | -€6,500 | -0.4% |
| Profit (loss) carried forward | 14 | €744 | €498 | -€246 | -33.1% |
| Amounts payable | 17/49 | €468,045 | €396,915 | -€71,130 | -15.2% |
| Amounts payable after more than one year | 17 | €31,254 | €6,272 | -€24,982 | -79.9% |
| Financial debts | 170/4 | €31,254 | - | -€31,254 | |
| Other amounts payable | 178/9 | - | €6,272 | +€6,272 | |
| Amounts payable within one year | 42/48 | €436,211 | €390,023 | -€46,188 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €45,235 | €23,880 | -€21,354 | -47.2% |
| Trade debts | 44 | €149,909 | €131,458 | -€18,452 | -12.3% |
| Suppliers | 440/4 | €149,909 | €131,458 | -€18,452 | -12.3% |
| Advances received on contracts in progress | 46 | €175,494 | €167,357 | -€8,138 | -4.6% |
| Taxes, remuneration and social security | 45 | €65,573 | €52,328 | -€13,245 | -20.2% |
| Taxes | 450/3 | €1,496 | €1,750 | +€254 | +17.0% |
| Remuneration and social security | 454/9 | €64,078 | €50,579 | -€13,499 | -21.1% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | €580 | €620 | +€40 | +6.9% |
| Remuneration, social security and pensions | 62 | €506,940 | €549,610 | +€42,669 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,815 | €109,490 | -€14,325 | -11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,891 | -€50 | -€17,941 | |
| Other operating charges | 640/8 | €32,379 | €30,896 | -€1,483 | -4.6% |
| Gross operating margin | 9900 | €876,892 | €750,977 | -€125,915 | -14.4% |
| Operating profit (loss) | 9901 | €195,867 | €61,031 | -€134,836 | -68.8% |
| Financial income | 75/76B | €34,824 | €21,970 | -€12,854 | -36.9% |
| Recurring financial income | 75 | €34,824 | €21,970 | -€12,854 | -36.9% |
| Financial charges | 65/66B | €7,826 | €12,880 | +€5,053 | +64.6% |
| Recurring financial charges | 65 | €7,826 | €12,880 | +€5,053 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €222,865 | €70,121 | -€152,743 | -68.5% |
| Income taxes | 67/77 | €56,700 | €13,717 | -€42,982 | -75.8% |
| Profit (loss) for the period | 9904 | €166,165 | €56,404 | -€109,761 | -66.1% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €166,165 | -€6,746 | -€172,911 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.