TERREYN: 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.
TERREYN
Largest movements
- Tangible fixed assets +€603,989
up €603,989, from €0 to €603,989
of which Leasing and similar rights: +€412,199
- Cash -€446,961
down €446,961 (-91.9%), from €486,113 to €39,152
mainly Investment in fixed assets (net) (-€702,879) and Net result for the year (-€333,379)
- Stocks and contracts +€260,000
new in 2025: €260,000
- Receivables within one year +€74,286
up €74,286 (+18.3%), from €405,605 to €479,890
of which Trade receivables: +€62,109
- Other debts +€372,530
new in 2025: €372,530
- Debts after one year +€306,539
new in 2025: €306,539
- Reserves -€179,683
down €179,683 (-26.2%), from €686,714 to €507,031
of which Distributable reserves: -€126,051
- Profit (loss) carried forward -€153,696
new in 2025: -€153,696
- Current portion of long-term debt +€89,472
new in 2025: €89,472
- Gross operating margin -€992,201
down €992,201, from €756,531 to -€235,670
- Depreciation +€95,659
up €95,659, from €0 to €95,659
- Financial charges +€13,935
up €13,935 (+10368.6%), from €134 to €14,070
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 | €892,264 | €1,388,376 | +€496,112 | +55.6% |
| Fixed assets | 21/28 | €0 | €607,220 | +€607,220 | |
| Intangible fixed assets | 21 | - | €3,231 | +€3,231 | |
| Tangible fixed assets | 22/27 | €0 | €603,989 | +€603,989 | |
| Land and buildings | 22 | €0 | €16,060 | +€16,060 | |
| Plant, machinery and equipment | 23 | €0 | €171,705 | +€171,705 | |
| Furniture and vehicles | 24 | - | €4,026 | +€4,026 | |
| Leasing and similar rights | 25 | - | €412,199 | +€412,199 | |
| Current assets | 29/58 | €892,264 | €781,156 | -€111,109 | -12.5% |
| Stocks and contracts in progress | 3 | - | €260,000 | +€260,000 | |
| Stocks | 30/36 | - | €260,000 | +€260,000 | |
| Amounts receivable within one year | 40/41 | €405,605 | €479,890 | +€74,286 | +18.3% |
| Trade receivables | 40 | €5,605 | €67,714 | +€62,109 | +1108.1% |
| Other amounts receivable | 41 | €400,000 | €412,176 | +€12,176 | +3.0% |
| Cash at bank and in hand | 54/58 | €486,113 | €39,152 | -€446,961 | -91.9% |
| Deferred charges and accrued income | 490/1 | €546 | €2,114 | +€1,567 | +287.0% |
| Total equity and liabilities | 10/49 | €892,264 | €1,388,376 | +€496,112 | +55.6% |
| Equity | 10/15 | €705,314 | €371,935 | -€333,379 | -47.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €686,714 | €507,031 | -€179,683 | -26.2% |
| Tax-exempt reserves | 132 | €560,664 | €507,031 | -€53,632 | -9.6% |
| Distributable reserves | 133 | €126,051 | €0 | -€126,051 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€153,696 | -€153,696 | |
| Provisions and deferred taxes | 16 | €186,888 | €169,010 | -€17,877 | -9.6% |
| Deferred taxes | 168 | €186,888 | €169,010 | -€17,877 | -9.6% |
| Amounts payable | 17/49 | €62 | €847,430 | +€847,368 | +1366723.0% |
| Amounts payable after more than one year | 17 | - | €306,539 | +€306,539 | |
| Financial debts | 170/4 | - | €306,539 | +€306,539 | |
| Amounts payable within one year | 42/48 | €62 | €540,892 | +€540,830 | +872305.9% |
| Current portion of amounts payable after more than one year | 42 | - | €89,472 | +€89,472 | |
| Trade debts | 44 | €62 | €78,890 | +€78,828 | +127141.4% |
| Suppliers | 440/4 | €62 | €78,890 | +€78,828 | +127141.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €372,530 | +€372,530 | |
| Non-recurring operating income | 76A | €752,551 | €0 | -€752,551 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €95,659 | +€95,659 | |
| Other operating charges | 640/8 | €7,017 | €5,879 | -€1,138 | -16.2% |
| Gross operating margin | 9900 | €756,531 | -€235,670 | -€992,201 | |
| Operating profit (loss) | 9901 | €749,514 | -€337,208 | -€1.1m | |
| Financial income | 75/76B | €4,560 | €21 | -€4,539 | -99.5% |
| Recurring financial income | 75 | €4,560 | €21 | -€4,539 | -99.5% |
| Financial charges | 65/66B | €134 | €14,070 | +€13,935 | +10368.6% |
| Recurring financial charges | 65 | €134 | €14,070 | +€13,935 | +10368.6% |
| Profit (loss) for the period before taxes | 9903 | €753,940 | -€351,257 | -€1.1m | |
| Transfer from deferred taxes | 780 | - | €17,877 | +€17,877 | |
| Transfer to deferred taxes | 680 | €186,888 | €0 | -€186,888 | -100.0% |
| Income taxes | 67/77 | €1,349 | €0 | -€1,349 | -100.0% |
| Profit (loss) for the period | 9904 | €565,703 | -€333,379 | -€899,082 | |
| Transfer from tax-exempt reserves | 789 | - | €53,632 | +€53,632 | |
| Transfer to tax-exempt reserves | 689 | €560,664 | €0 | -€560,664 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,039 | -€279,747 | -€284,786 |
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 12 October 2026 via checked.be.