TERRE-EN-VUE: 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.
TERRE-EN-VUE
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+21.1%), from €7.0m to €8.5m
of which Land and buildings: +€1.5m
- Cash +€1.1m
up €1.1m (+362%), from €314,230 to €1.5m
- Current investments +€200,000
up €200,000 (+66.7%), from €300,000 to €500,000
- Contributions +€2.7m
up €2.7m (+36.1%), from €7.6m to €10.3m
- Trade debts +€114,538
up €114,538 (+592%), from €19,353 to €133,891
- Purchases and services +€18,717
up €18,717 (+91.7%), from €20,405 to €39,122
- Turnover +€17,525
up €17,525 (+61.2%), from €28,634 to €46,158
- Financial income +€13,839
up €13,839 (+330%), from €4,189 to €18,028
- Depreciation +€7,047
up €7,047 (+1,084%), from €650 to €7,697
- Other operating charges +€4,529
up €4,529 (+46.1%), from €9,829 to €14,358
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,664,732 | €10,528,484 | +€2.9m | +37.4% |
| Fixed assets | 21/28 | €7,032,844 | €8,539,847 | +€1.5m | +21.4% |
| Intangible fixed assets | 21 | - | €25,911 | +€25,911 | |
| Tangible fixed assets | 22/27 | €7,028,494 | €8,509,586 | +€1.5m | +21.1% |
| Land and buildings | 22 | €6,861,953 | €8,343,045 | +€1.5m | +21.6% |
| Assets under construction and advance payments | 27 | €166,541 | €166,541 | = | 0.0% |
| Financial fixed assets | 28 | €4,350 | €4,350 | = | 0.0% |
| Current assets | 29/58 | €631,888 | €1,988,636 | +€1.4m | +215% |
| Amounts receivable within one year | 40/41 | €13,441 | €34,113 | +€20,673 | +154% |
| Trade receivables | 40 | €12,184 | €27,311 | +€15,127 | +124% |
| Other amounts receivable | 41 | €1,257 | €6,802 | +€5,545 | +441% |
| Current investments | 50/53 | €300,000 | €500,000 | +€200,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €314,230 | €1,450,494 | +€1.1m | +362% |
| Deferred charges and accrued income | 490/1 | €4,218 | €4,029 | -€189 | -4.5% |
| Total equity and liabilities | 10/49 | €7,664,732 | €10,528,484 | +€2.9m | +37.4% |
| Equity | 10/15 | €7,616,614 | €10,370,092 | +€2.8m | +36.2% |
| Contributions | 10/11 | €7,601,700 | €10,346,300 | +€2.7m | +36.1% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €14,914 | €16,838 | +€1,924 | +12.9% |
| Investment grants | 15 | - | €6,953 | +€6,953 | |
| Amounts payable | 17/49 | €48,118 | €158,392 | +€110,274 | +229% |
| Amounts payable within one year | 42/48 | €45,213 | €154,891 | +€109,678 | +243% |
| Trade debts | 44 | €19,353 | €133,891 | +€114,538 | +592% |
| Suppliers | 440/4 | €19,353 | €133,891 | +€114,538 | +592% |
| Other amounts payable | 47/48 | €25,860 | €21,000 | -€4,860 | -18.8% |
| Accrued charges and deferred income | 492/3 | €2,905 | €3,502 | +€597 | +20.5% |
| Turnover | 70 | €28,634 | €46,158 | +€17,525 | +61.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €20,405 | €39,122 | +€18,717 | +91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650 | €7,697 | +€7,047 | +1,084% |
| Other operating charges | 640/8 | €9,829 | €14,358 | +€4,529 | +46.1% |
| Gross operating margin | 9900 | €8,229 | €7,037 | -€1,192 | -14.5% |
| Operating profit (loss) | 9901 | -€2,250 | -€15,018 | -€12,769 | -568% |
| Financial income | 75/76B | €4,189 | €18,028 | +€13,839 | +330% |
| Recurring financial income | 75 | €4,189 | €18,028 | +€13,839 | +330% |
| Financial charges | 65/66B | €60 | €135 | +€75 | +125% |
| Recurring financial charges | 65 | €60 | €135 | +€75 | +125% |
| Profit (loss) for the period before taxes | 9903 | €1,880 | €2,875 | +€995 | +53.0% |
| Income taxes | 67/77 | €0 | €555 | +€555 | |
| Profit (loss) for the period | 9904 | €1,880 | €2,320 | +€441 | +23.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,880 | €2,320 | +€441 | +23.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.