VH2 TERRA: 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.
VH2 TERRA
Largest movements
- Cash +€530,632
up €530,632 (+2,206%), from €24,059 to €554,691
mainly Stocks and contracts (+€306,077) and Net result for the year (+€194,339)
- Stocks and contracts -€306,077
down €306,077 (-45.5%), from €672,043 to €365,967
- Receivables within one year +€35,052
up €35,052 (+1,168%), from €3,000 to €38,052
of which Other amounts receivable: +€35,000
- Reserves +€185,395
new in 2025: €185,395
- Tax, wage and social debts +€61,635
new in 2025: €61,635
- Trade debts -€42,726
down €42,726 (-100%), from €42,726 to €0
- Contributions +€30,000
up €30,000 (+25.0%), from €120,000 to €150,000
- Other debts +€16,360
up €16,360 (+3.0%), from €545,320 to €561,679
- Gross operating margin +€277,635
up €277,635, from -€5,313 to €272,323
- Taxes +€61,798
new in 2025: €61,798
- Financial charges +€16,366
up €16,366 (+32,732%), from €50 to €16,416
- Depreciation -€3,210
down €3,210 (-100%), from €3,210 to €0
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 | €699,102 | €958,710 | +€259,608 | +37.1% |
| Current assets | 29/58 | €699,102 | €958,710 | +€259,608 | +37.1% |
| Stocks and contracts in progress | 3 | €672,043 | €365,967 | -€306,077 | -45.5% |
| Stocks | 30/36 | €672,043 | €365,967 | -€306,077 | -45.5% |
| Amounts receivable within one year | 40/41 | €3,000 | €38,052 | +€35,052 | +1,168% |
| Trade receivables | 40 | - | €52 | +€52 | |
| Other amounts receivable | 41 | €3,000 | €38,000 | +€35,000 | +1,167% |
| Cash at bank and in hand | 54/58 | €24,059 | €554,691 | +€530,632 | +2,206% |
| Total equity and liabilities | 10/49 | €699,102 | €958,710 | +€259,608 | +37.1% |
| Equity | 10/15 | €111,056 | €335,395 | +€224,339 | +202% |
| Contributions | 10/11 | €120,000 | €150,000 | +€30,000 | +25.0% |
| Reserves | 13 | - | €185,395 | +€185,395 | |
| Distributable reserves | 133 | - | €185,395 | +€185,395 | |
| Profit (loss) carried forward | 14 | -€8,944 | €0 | +€8,944 | |
| Amounts payable | 17/49 | €588,046 | €623,315 | +€35,269 | +6.0% |
| Amounts payable within one year | 42/48 | €588,046 | €623,315 | +€35,269 | +6.0% |
| Trade debts | 44 | €42,726 | €0 | -€42,726 | -100% |
| Suppliers | 440/4 | €42,726 | €0 | -€42,726 | -100% |
| Taxes, remuneration and social security | 45 | - | €61,635 | +€61,635 | |
| Taxes | 450/3 | - | €61,635 | +€61,635 | |
| Other amounts payable | 47/48 | €545,320 | €561,679 | +€16,360 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,210 | €0 | -€3,210 | -100% |
| Other operating charges | 640/8 | €371 | €313 | -€58 | -15.6% |
| Gross operating margin | 9900 | -€5,313 | €272,323 | +€277,635 | |
| Operating profit (loss) | 9901 | -€8,894 | €272,010 | +€280,903 | |
| Financial income | 75/76B | - | €544 | +€544 | |
| Recurring financial income | 75 | - | €544 | +€544 | |
| Financial charges | 65/66B | €50 | €16,416 | +€16,366 | +32,732% |
| Recurring financial charges | 65 | €50 | €16,416 | +€16,366 | +32,732% |
| Profit (loss) for the period before taxes | 9903 | -€8,944 | €256,137 | +€265,081 | |
| Income taxes | 67/77 | - | €61,798 | +€61,798 | |
| Profit (loss) for the period | 9904 | -€8,944 | €194,339 | +€203,283 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,944 | €194,339 | +€203,283 |
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 29 October 2026 via checked.be.