TERRE asbl: what changed
What changed
TERRE asbl
NACE 38.210, Materials recovery from waste
filed annual accounts (NBB)
Net result for the year
-€2.8m
2024 · -€954,625-€1.9m
Equity
€693,405
2024 · €3.5m-€2.8m
Cash
€622,422
2024 · €918,395-€295,973
Balance sheet total
€8.9m
2024 · €10.5m-€1.6m
Largest movements
Assets
- Stocks and contracts -€511,660
down €511,660 (-17.9%), from €2.9m to €2.3m
- Tangible fixed assets -€477,949
down €477,949 (-16.4%), from €2.9m to €2.4m
of which Leasing and similar rights: -€270,637
- Cash -€295,973
down €295,973 (-32.2%), from €918,395 to €622,422
mainly Net result for the year (-€2.8m) and Investment in fixed assets (net) (-€255,378)
- Receivables within one year -€276,148
down €276,148 (-13.0%), from €2.1m to €1.8m
of which Trade receivables: -€169,927
Equity and liabilities
- Profit (loss) carried forward -€2.8m
down €2.8m, from €2.0m to -€841,364
- Debts within one year +€1.5m
up €1.5m (+27.4%), from €5.6m to €7.1m
of which Trade debts: +€1.0m
- Debts after one year -€249,873
down €249,873 (-18.6%), from €1.3m to €1.1m
Income statement
- Turnover -€909,659
down €909,659 (-6.0%), from €15.1m to €14.2m
- Services and other goods +€814,228
up €814,228 (+12.6%), from €6.5m to €7.3m
- Write-downs +€375,750
up €375,750 (+4,805%), from €7,821 to €383,570
- Goods and materials +€209,508
up €209,508 (+14.7%), from €1.4m to €1.6m
of which Change in stocks: decrease (increase): +€347,084
- Staff costs -€180,291
down €180,291 (-1.8%), from €10.1m to €9.9m
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
-€954,625
Turnover
-€909,659
Other operating income
+€55,528
Goods and materials
-€209,508
Services and other goods
-€814,228
Staff costs
+€180,291
Depreciation
-€44,078
Write-downs
-€375,750
Other operating charges
+€159,949
Other operating items
+€103,920
Financial income
-€2,039
Financial charges
-€28,269
Taxes
-€2,890
Result 2025
-€2.8m
raises the resultlowers the resultnot broken down further in the accounts
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
+€203,008
Investment
-€255,378
Financing
-€243,603
Cash 2024
€918,395
From operations (derived)
+€203,008
Net result for the year
-€2.8m
Depreciation
+€715,110
Stocks and contracts
+€511,660
Receivables within one year
+€276,148
Deferred charges and accrued income
+€36,135
Debts within one year
+€1.5m
Accrued charges and deferred income
-€23,647
Investment (derived)
-€255,378
Investment in fixed assets (net)
-€255,378
Current investments
-€0
Financing
-€243,603
Debts after one year
-€249,873
Contributions, distributions and other
+€6,270
Cash 2025
€622,422
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,492,424 | €8,912,777 | -€1.6m | -15.1% |
| Fixed assets | 21/28 | €4,326,381 | €3,866,650 | -€459,731 | -10.6% |
| Intangible fixed assets | 21 | €36,141 | €54,764 | +€18,623 | +51.5% |
| Tangible fixed assets | 22/27 | €2,913,985 | €2,436,036 | -€477,949 | -16.4% |
| Land and buildings | 22 | €392,375 | €331,695 | -€60,679 | -15.5% |
| Plant, machinery and equipment | 23 | €496,378 | €423,555 | -€72,822 | -14.7% |
| Furniture and vehicles | 24 | €319,964 | €284,100 | -€35,865 | -11.2% |
| Leasing and similar rights | 25 | €1,662,913 | €1,392,275 | -€270,637 | -16.3% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Assets under construction and advance payments | 27 | €42,356 | €4,410 | -€37,946 | -89.6% |
| Financial fixed assets | 28 | €1,376,254 | €1,375,849 | -€405 | 0.0% |
| Affiliated companies | 280/1 | €1,357,786 | €1,357,786 | = | 0.0% |
| Participating interests | 280 | €1,357,786 | €1,357,786 | = | 0.0% |
| Other financial fixed assets | 284/8 | €18,468 | €18,063 | -€405 | -2.2% |
| Shares | 284 | €3,755 | €3,755 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €14,714 | €14,309 | -€405 | -2.8% |
| Current assets | 29/58 | €6,166,043 | €5,046,127 | -€1.1m | -18.2% |
| Amounts receivable after more than one year | 29 | - | €0 | = | |
| Trade receivables | 290 | - | €0 | = | |
| Stocks and contracts in progress | 3 | €2,858,218 | €2,346,559 | -€511,660 | -17.9% |
| Stocks | 30/36 | €2,858,218 | €2,346,559 | -€511,660 | -17.9% |
| Raw materials and consumables | 30/31 | €393,617 | €247,884 | -€145,734 | -37.0% |
| Finished goods | 33 | €2,461,901 | €2,095,975 | -€365,926 | -14.9% |
| Goods purchased for resale | 34 | €2,700 | €2,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,121,328 | €1,845,180 | -€276,148 | -13.0% |
| Trade receivables | 40 | €1,532,928 | €1,363,001 | -€169,927 | -11.1% |
| Other amounts receivable | 41 | €588,400 | €482,178 | -€106,221 | -18.1% |
| Current investments | 50/53 | €10 | €10 | +€0 | +0.6% |
| Cash at bank and in hand | 54/58 | €918,395 | €622,422 | -€295,973 | -32.2% |
| Deferred charges and accrued income | 490/1 | €268,092 | €231,957 | -€36,135 | -13.5% |
| Total equity and liabilities | 10/49 | €10,492,424 | €8,912,777 | -€1.6m | -15.1% |
| Equity | 10/15 | €3,528,491 | €693,405 | -€2.8m | -80.3% |
| Contributions | 10/11 | €1,522,168 | €1,522,168 | = | 0.0% |
| Capital | 10 | €1,522,168 | €1,522,168 | = | 0.0% |
| Revaluation surpluses | 12 | €22 | €22 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,999,992 | -€841,364 | -€2.8m | |
| Investment grants | 15 | €6,309 | €12,579 | +€6,270 | +99.4% |
| Amounts payable | 17/49 | €6,963,933 | €8,219,372 | +€1.3m | +18.0% |
| Amounts payable after more than one year | 17 | €1,340,249 | €1,090,376 | -€249,873 | -18.6% |
| Financial debts | 170/4 | €1,340,249 | €1,090,376 | -€249,873 | -18.6% |
| Leasing and similar obligations | 172 | €1,328,366 | €1,079,225 | -€249,142 | -18.8% |
| Credit institutions | 173 | €11,882 | €11,151 | -€732 | -6.2% |
| Amounts payable within one year | 42/48 | €5,589,132 | €7,118,091 | +€1.5m | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €367,589 | €365,122 | -€2,467 | -0.7% |
| Financial debts | 43 | €827,194 | €787,790 | -€39,404 | -4.8% |
| Credit institutions | 430/8 | €827,194 | €137,790 | -€689,404 | -83.3% |
| Other loans | 439 | - | €650,000 | +€650,000 | |
| Trade debts | 44 | €2,325,119 | €3,353,543 | +€1.0m | +44.2% |
| Suppliers | 440/4 | €2,325,119 | €3,353,543 | +€1.0m | +44.2% |
| Advances received on contracts in progress | 46 | €234,006 | €0 | -€234,006 | -100% |
| Taxes, remuneration and social security | 45 | €1,708,064 | €2,314,489 | +€606,425 | +35.5% |
| Taxes | 450/3 | €196,857 | €188,192 | -€8,665 | -4.4% |
| Remuneration and social security | 454/9 | €1,511,207 | €2,126,297 | +€615,090 | +40.7% |
| Accrued charges and deferred income | 492/3 | €34,552 | €10,905 | -€23,647 | -68.4% |
| Operating income | 70/76A | €18,400,880 | €17,650,670 | -€750,210 | -4.1% |
| Turnover | 70 | €15,096,353 | €14,186,694 | -€909,659 | -6.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €206,971 | -€209,742 | -€416,713 | |
| Membership fees, donations, legacies and grants | 73 | €2,659,136 | €3,179,769 | +€520,633 | +19.6% |
| Other operating income | 74 | €438,420 | €493,948 | +€55,528 | +12.7% |
| Operating charges | 60/66A | €19,244,516 | €20,347,839 | +€1.1m | +5.7% |
| Goods for resale, raw materials and consumables | 60 | €1,424,866 | €1,634,373 | +€209,508 | +14.7% |
| Purchases | 600/8 | €1,626,216 | €1,488,640 | -€137,577 | -8.5% |
| Change in stocks: decrease (increase) | 609 | -€201,351 | €145,734 | +€347,084 | |
| Services and other goods | 61 | €6,480,896 | €7,295,124 | +€814,228 | +12.6% |
| Remuneration, social security and pensions | 62 | €10,129,719 | €9,949,428 | -€180,291 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €671,032 | €715,110 | +€44,078 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,821 | €383,570 | +€375,750 | +4,805% |
| Other operating charges | 640/8 | €530,183 | €370,234 | -€159,949 | -30.2% |
| Operating profit (loss) | 9901 | -€843,636 | -€2,697,170 | -€1.9m | -220% |
| Financial income | 75/76B | €7,854 | €5,814 | -€2,039 | -26.0% |
| Recurring financial income | 75 | €7,854 | €5,814 | -€2,039 | -26.0% |
| Income from current assets | 751 | €510 | €296 | -€214 | -41.9% |
| Other financial income | 752/9 | €7,344 | €5,518 | -€1,826 | -24.9% |
| Financial charges | 65/66B | €118,936 | €147,204 | +€28,269 | +23.8% |
| Recurring financial charges | 65 | €118,936 | €147,204 | +€28,269 | +23.8% |
| Debt charges | 650 | €80,255 | €89,041 | +€8,785 | +10.9% |
| Other financial charges | 652/9 | €38,680 | €58,163 | +€19,483 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | -€954,718 | -€2,838,560 | -€1.9m | -197% |
| Income taxes | 67/77 | -€93 | €2,797 | +€2,890 | |
| Taxes | 670/3 | - | €2,797 | +€2,797 | |
| Tax adjustments and reversals of tax provisions | 77 | €93 | - | -€93 | |
| Profit (loss) for the period | 9904 | -€954,625 | -€2,841,357 | -€1.9m | -198% |
| Profit (loss) for the period to be appropriated | 9905 | -€954,625 | -€2,841,357 | -€1.9m | -198% |
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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.