TERRECO: 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.
TERRECO
Largest movements
- Current investments -€300,000
down €300,000 (-30.0%), from €1.0m to €700,000
- Cash +€230,046
up €230,046 (+87.4%), from €263,097 to €493,143
mainly Current investments (+€300,000) and Trade debts (+€210,000)
- Stocks and contracts +€210,000
up €210,000 (+3.2%), from €6.5m to €6.7m
of which Contracts in progress: +€210,000
- Receivables within one year +€154,845
up €154,845 (+39.0%), from €397,106 to €551,951
- Trade debts +€210,000
up €210,000 (+98.5%), from €213,177 to €423,177
- Financial income +€15,826
up €15,826 (+92.2%), from €17,162 to €32,988
- Taxes +€3,607
new in 2025: €3,607
- Gross operating margin +€906
up €906 (+33.2%), from -€2,725 to -€1,819
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 | €8,251,686 | €8,489,078 | +€237,392 | +2.9% |
| Fixed assets | 21/28 | €57,500 | - | -€57,500 | |
| Financial fixed assets | 28 | €57,500 | - | -€57,500 | |
| Current assets | 29/58 | €8,194,186 | €8,489,078 | +€294,892 | +3.6% |
| Stocks and contracts in progress | 3 | €6,533,983 | €6,743,983 | +€210,000 | +3.2% |
| Stocks | 30/36 | €11,460 | €11,460 | = | 0.0% |
| Contracts in progress | 37 | €6,522,523 | €6,732,523 | +€210,000 | +3.2% |
| Amounts receivable within one year | 40/41 | €397,106 | €551,951 | +€154,845 | +39.0% |
| Other amounts receivable | 41 | €397,106 | €551,951 | +€154,845 | +39.0% |
| Current investments | 50/53 | €1,000,000 | €700,000 | -€300,000 | -30.0% |
| Cash at bank and in hand | 54/58 | €263,097 | €493,143 | +€230,046 | +87.4% |
| Total equity and liabilities | 10/49 | €8,251,686 | €8,489,078 | +€237,392 | +2.9% |
| Equity | 10/15 | €16,021 | €43,329 | +€27,308 | +170% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,529 | €24,779 | +€27,308 | |
| Amounts payable | 17/49 | €8,235,665 | €8,445,749 | +€210,084 | +2.6% |
| Amounts payable within one year | 42/48 | €8,235,665 | €8,445,749 | +€210,084 | +2.6% |
| Trade debts | 44 | €213,177 | €423,177 | +€210,000 | +98.5% |
| Suppliers | 440/4 | €213,177 | €423,177 | +€210,000 | +98.5% |
| Advances received on contracts in progress | 46 | €7,979,954 | €7,979,954 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €84 | +€84 | |
| Taxes | 450/3 | - | €84 | +€84 | |
| Other amounts payable | 47/48 | €42,533 | €42,533 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | -€2,725 | -€1,819 | +€906 | +33.2% |
| Operating profit (loss) | 9901 | -€2,843 | -€1,939 | +€904 | +31.8% |
| Financial income | 75/76B | €17,162 | €32,988 | +€15,826 | +92.2% |
| Recurring financial income | 75 | €17,162 | €32,988 | +€15,826 | +92.2% |
| Financial charges | 65/66B | €134 | €134 | +€0 | +0.2% |
| Recurring financial charges | 65 | €134 | €134 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €14,185 | €30,915 | +€16,730 | +118% |
| Income taxes | 67/77 | - | €3,607 | +€3,607 | |
| Profit (loss) for the period | 9904 | €14,185 | €27,308 | +€13,122 | +92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,185 | €27,308 | +€13,122 | +92.5% |
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 19 October 2026 via checked.be.