Terrasco: 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.
Terrasco
Largest movements
- Receivables within one year +€22,011
up €22,011 (+144%), from €15,339 to €37,349
of which Trade receivables: +€14,584
- Tangible fixed assets +€13,835
up €13,835 (+157%), from €8,824 to €22,659
of which Furniture and vehicles: +€12,090
- Cash -€6,762
down €6,762 (-37.9%), from €17,862 to €11,100
mainly Receivables within one year (-€22,011) and Investment in fixed assets (net) (-€18,728)
- Deferred charges and accrued income +€2,763
new in 2025: €2,763
- Trade debts +€17,393
up €17,393 (+649%), from €2,680 to €20,073
- Tax, wage and social debts +€14,362
up €14,362 (+147%), from €9,789 to €24,151
of which Taxes: +€7,284
- Reserves -€13,047
down €13,047 (-34.7%), from €37,652 to €24,605
- Debts after one year +€9,285
new in 2025: €9,285
- Current portion of long-term debt +€3,355
new in 2025: €3,355
- Staff costs +€43,273
up €43,273 (+6,766%), from €640 to €43,912
- Taxes -€9,645
down €9,645 (-98.5%), from €9,789 to €144
- Gross operating margin -€9,100
down €9,100 (-18.2%), from €50,049 to €40,949
- Depreciation +€3,401
up €3,401 (+228%), from €1,492 to €4,893
- Financial charges +€2,851
up €2,851 (+558%), from €511 to €3,362
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 | €53,122 | €84,469 | +€31,348 | +59.0% |
| Fixed assets | 21/28 | €12,422 | €26,257 | +€13,835 | +111% |
| Tangible fixed assets | 22/27 | €8,824 | €22,659 | +€13,835 | +157% |
| Plant, machinery and equipment | 23 | €6,733 | €8,478 | +€1,745 | +25.9% |
| Furniture and vehicles | 24 | €2,091 | €14,181 | +€12,090 | +578% |
| Financial fixed assets | 28 | €3,598 | €3,598 | = | 0.0% |
| Current assets | 29/58 | €40,700 | €58,212 | +€17,512 | +43.0% |
| Stocks and contracts in progress | 3 | €7,500 | €7,000 | -€500 | -6.7% |
| Contracts in progress | 37 | €7,500 | €7,000 | -€500 | -6.7% |
| Amounts receivable within one year | 40/41 | €15,339 | €37,349 | +€22,011 | +144% |
| Trade receivables | 40 | €10,537 | €25,121 | +€14,584 | +138% |
| Other amounts receivable | 41 | €4,801 | €12,228 | +€7,427 | +155% |
| Cash at bank and in hand | 54/58 | €17,862 | €11,100 | -€6,762 | -37.9% |
| Deferred charges and accrued income | 490/1 | - | €2,763 | +€2,763 | |
| Total equity and liabilities | 10/49 | €53,122 | €84,469 | +€31,348 | +59.0% |
| Equity | 10/15 | €40,652 | €27,605 | -€13,047 | -32.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €37,652 | €24,605 | -€13,047 | -34.7% |
| Distributable reserves | 133 | €37,652 | €24,605 | -€13,047 | -34.7% |
| Amounts payable | 17/49 | €12,469 | €56,864 | +€44,394 | +356% |
| Amounts payable after more than one year | 17 | - | €9,285 | +€9,285 | |
| Financial debts | 170/4 | - | €9,285 | +€9,285 | |
| Amounts payable within one year | 42/48 | €12,469 | €47,579 | +€35,110 | +282% |
| Current portion of amounts payable after more than one year | 42 | - | €3,355 | +€3,355 | |
| Trade debts | 44 | €2,680 | €20,073 | +€17,393 | +649% |
| Suppliers | 440/4 | €2,680 | €20,073 | +€17,393 | +649% |
| Taxes, remuneration and social security | 45 | €9,789 | €24,151 | +€14,362 | +147% |
| Taxes | 450/3 | €9,789 | €17,073 | +€7,284 | +74.4% |
| Remuneration and social security | 454/9 | - | €7,077 | +€7,077 | |
| Remuneration, social security and pensions | 62 | €640 | €43,912 | +€43,273 | +6,766% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,492 | €4,893 | +€3,401 | +228% |
| Other operating charges | 640/8 | €58 | €2,119 | +€2,061 | +3,553% |
| Gross operating margin | 9900 | €50,049 | €40,949 | -€9,100 | -18.2% |
| Operating profit (loss) | 9901 | €47,859 | -€9,975 | -€57,834 | |
| Financial income | 75/76B | €93 | €435 | +€342 | +366% |
| Recurring financial income | 75 | €93 | €435 | +€342 | +366% |
| Financial charges | 65/66B | €511 | €3,362 | +€2,851 | +558% |
| Recurring financial charges | 65 | €511 | €3,362 | +€2,851 | +558% |
| Profit (loss) for the period before taxes | 9903 | €47,441 | -€12,903 | -€60,344 | |
| Income taxes | 67/77 | €9,789 | €144 | -€9,645 | -98.5% |
| Profit (loss) for the period | 9904 | €37,652 | -€13,047 | -€50,699 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,652 | -€13,047 | -€50,699 |
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.