TERRWELL: 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.
TERRWELL
Largest movements
- Receivables within one year -€7,469
down €7,469 (-53.4%), from €13,988 to €6,519
of which Trade receivables: -€7,469
- Tangible fixed assets -€2,973
down €2,973 (-24.7%), from €12,058 to €9,085
of which Other tangible fixed assets: -€1,633
- Deferred charges and accrued income +€2,420
new in 2024: €2,420
- Cash -€783
down €783 (-20.6%), from €3,804 to €3,021
mainly Net result for the year (-€10,907) and Current portion of long-term debt (-€3,389)
- Profit (loss) carried forward -€10,907
down €10,907 (-15.3%), from -€71,090 to -€81,997
- Trade debts +€4,169
up €4,169 (+40.5%), from €10,294 to €14,463
- Short-term financial debts +€4,000
up €4,000 (+12.3%), from €32,500 to €36,500
- Current portion of long-term debt -€3,389
down €3,389 (-66.4%), from €5,104 to €1,715
- Debts after one year -€1,715
down €1,715 (-5.4%), from €31,715 to €30,000
- Gross operating margin +€3,982
up €3,982 (+62.0%), from -€6,425 to -€2,443
- Other operating charges -€241
down €241 (-31.4%), from €769 to €528
- Financial charges +€90
up €90 (+1.9%), from €4,873 to €4,963
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,851 | €21,045 | -€8,805 | -29.5% |
| Fixed assets | 21/28 | €12,058 | €9,085 | -€2,973 | -24.7% |
| Tangible fixed assets | 22/27 | €12,058 | €9,085 | -€2,973 | -24.7% |
| Plant, machinery and equipment | 23 | €1,818 | €816 | -€1,002 | -55.1% |
| Furniture and vehicles | 24 | €339 | - | -€339 | |
| Other tangible fixed assets | 26 | €9,902 | €8,269 | -€1,633 | -16.5% |
| Current assets | 29/58 | €17,792 | €11,960 | -€5,832 | -32.8% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €13,988 | €6,519 | -€7,469 | -53.4% |
| Trade receivables | 40 | €12,454 | €4,985 | -€7,469 | -60.0% |
| Other amounts receivable | 41 | €1,534 | €1,534 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,804 | €3,021 | -€783 | -20.6% |
| Deferred charges and accrued income | 490/1 | - | €2,420 | +€2,420 | |
| Total equity and liabilities | 10/49 | €29,851 | €21,045 | -€8,805 | -29.5% |
| Equity | 10/15 | -€61,090 | -€71,997 | -€10,907 | -17.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €10,000 | +€10,000 | |
| Other | 1109/19 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | -€71,090 | -€81,997 | -€10,907 | -15.3% |
| Amounts payable | 17/49 | €90,941 | €93,042 | +€2,102 | +2.3% |
| Amounts payable after more than one year | 17 | €31,715 | €30,000 | -€1,715 | -5.4% |
| Financial debts | 170/4 | €31,715 | €30,000 | -€1,715 | -5.4% |
| Amounts payable within one year | 42/48 | €59,033 | €63,042 | +€4,009 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €5,104 | €1,715 | -€3,389 | -66.4% |
| Financial debts | 43 | €32,500 | €36,500 | +€4,000 | +12.3% |
| Credit institutions | 430/8 | €32,500 | €36,500 | +€4,000 | +12.3% |
| Trade debts | 44 | €10,294 | €14,463 | +€4,169 | +40.5% |
| Suppliers | 440/4 | €10,294 | €14,463 | +€4,169 | +40.5% |
| Taxes, remuneration and social security | 45 | €1,178 | €408 | -€771 | -65.4% |
| Taxes | 450/3 | €1,103 | €408 | -€695 | -63.0% |
| Remuneration and social security | 454/9 | €76 | - | -€76 | |
| Other amounts payable | 47/48 | €9,957 | €9,957 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €192 | - | -€192 | |
| Remuneration, social security and pensions | 62 | €58 | - | -€58 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,991 | €2,973 | -€18 | -0.6% |
| Other operating charges | 640/8 | €769 | €528 | -€241 | -31.4% |
| Gross operating margin | 9900 | -€6,425 | -€2,443 | +€3,982 | +62.0% |
| Operating profit (loss) | 9901 | -€10,243 | -€5,944 | +€4,299 | +42.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €4,873 | €4,963 | +€90 | +1.9% |
| Recurring financial charges | 65 | €4,873 | €4,963 | +€90 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,115 | -€10,907 | +€4,207 | +27.8% |
| Profit (loss) for the period | 9904 | -€15,115 | -€10,907 | +€4,207 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,115 | -€10,907 | +€4,207 | +27.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.