Terraz: 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.
Terraz
Largest movements
- Deferred charges and accrued income +€59,749
up €59,749 (+40.4%), from €147,785 to €207,534
- Accrued charges and deferred income +€186,951
up €186,951 (+27.6%), from €676,265 to €863,216
- Profit (loss) carried forward -€78,235
new in 2025: -€78,235
- Gross operating margin -€72,771
down €72,771 (-72.7%), from €100,093 to €27,322
- Financial income -€14,018
down €14,018 (-14.5%), from €96,732 to €82,714
- Financial charges +€7,799
up €7,799 (+4.4%), from €179,229 to €187,027
- Taxes -€4,272
down €4,272 (-100.0%), from €4,272 to €0
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 | €3,226,405 | €3,315,626 | +€89,221 | +2.8% |
| Current assets | 29/58 | €3,226,405 | €3,315,626 | +€89,221 | +2.8% |
| Stocks and contracts in progress | 3 | €1,435,437 | €1,446,240 | +€10,803 | +0.8% |
| Stocks | 30/36 | €1,435,437 | €1,446,240 | +€10,803 | +0.8% |
| Amounts receivable within one year | 40/41 | €1,640,355 | €1,660,978 | +€20,623 | +1.3% |
| Trade receivables | 40 | €379,507 | €411,688 | +€32,182 | +8.5% |
| Other amounts receivable | 41 | €1,260,848 | €1,249,290 | -€11,559 | -0.9% |
| Cash at bank and in hand | 54/58 | €2,829 | €874 | -€1,955 | -69.1% |
| Deferred charges and accrued income | 490/1 | €147,785 | €207,534 | +€59,749 | +40.4% |
| Total equity and liabilities | 10/49 | €3,226,405 | €3,315,626 | +€89,221 | +2.8% |
| Equity | 10/15 | €90,868 | €12,633 | -€78,235 | -86.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,268 | €72,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €691 | €691 | = | 0.0% |
| Reserves not available under the articles | 1311 | €691 | €691 | = | 0.0% |
| Distributable reserves | 133 | €71,577 | €71,577 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€78,235 | -€78,235 | |
| Amounts payable | 17/49 | €3,135,537 | €3,302,993 | +€167,455 | +5.3% |
| Amounts payable within one year | 42/48 | €2,459,272 | €2,439,777 | -€19,495 | -0.8% |
| Trade debts | 44 | €46 | €9,095 | +€9,049 | +19788.0% |
| Suppliers | 440/4 | €46 | €9,095 | +€9,049 | +19788.0% |
| Taxes, remuneration and social security | 45 | €28,544 | €0 | -€28,544 | -100.0% |
| Taxes | 450/3 | €28,544 | €0 | -€28,544 | -100.0% |
| Other amounts payable | 47/48 | €2,430,682 | €2,430,682 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €676,265 | €863,216 | +€186,951 | +27.6% |
| Other operating charges | 640/8 | €1,258 | €1,243 | -€15 | -1.2% |
| Gross operating margin | 9900 | €100,093 | €27,322 | -€72,771 | -72.7% |
| Operating profit (loss) | 9901 | €98,835 | €26,079 | -€72,756 | -73.6% |
| Financial income | 75/76B | €96,732 | €82,714 | -€14,018 | -14.5% |
| Recurring financial income | 75 | €96,732 | €82,714 | -€14,018 | -14.5% |
| Financial charges | 65/66B | €179,229 | €187,027 | +€7,799 | +4.4% |
| Recurring financial charges | 65 | €179,229 | €187,027 | +€7,799 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €16,338 | -€78,235 | -€94,573 | |
| Income taxes | 67/77 | €4,272 | €0 | -€4,272 | -100.0% |
| Profit (loss) for the period | 9904 | €12,066 | -€78,235 | -€90,301 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,066 | -€78,235 | -€90,301 |
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 5 October 2026 via checked.be.