TERRADOG: 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.
What changed
TERRADOG
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€72,335
2024 · €15,256+€57,078
Equity
€183,058
2024 · €115,408+€67,650
Cash
€7,480
2024 · €7,417+€63
Balance sheet total
€416,793
2024 · €431,725-€14,932
Largest movements
Assets
- Receivables within one year -€70,565
down €70,565 (-77.6%), from €90,908 to €20,343
of which Trade receivables: -€82,134
- Tangible fixed assets +€66,663
up €66,663 (+21.9%), from €304,143 to €370,806
of which Plant, machinery and equipment: +€62,533
- Stocks and contracts -€9,058
no longer reported in 2025 (was €9,058)
Equity and liabilities
- Trade debts -€57,655
down €57,655 (-86.2%), from €66,910 to €9,256
- Reserves +€57,591
up €57,591 (+2,400%), from €2,400 to €59,991
of which Tax-exempt reserves: +€51,191
- Short-term financial debts -€29,107
no longer reported in 2025 (was €29,107)
- Provisions +€17,064
new in 2025: €17,064
- Current portion of long-term debt -€13,202
down €13,202 (-24.6%), from €53,714 to €40,512
Income statement
- Gross operating margin +€52,648
up €52,648 (+39.1%), from €134,667 to €187,315
- Staff costs -€28,082
down €28,082 (-99.0%), from €28,374 to €291
- Other operating charges +€10,107
up €10,107 (+172%), from €5,883 to €15,990
- Depreciation +€5,588
up €5,588 (+7.6%), from €73,169 to €78,757
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.
Result 2024
€15,256
Gross operating margin
+€52,648
Staff costs
+€28,082
Depreciation
-€5,588
Other operating charges
-€10,107
Other operating items
+€5,853
Financial income
+€5
Financial charges
-€831
Taxes
-€605
Deferred taxes and other
-€12,379
Result 2025
€72,335
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€183,268
Investment
-€145,420
Financing
-€37,785
Cash 2024
€7,417
From operations (derived)
+€183,268
Net result for the year
+€72,335
Depreciation
+€78,757
Stocks and contracts
+€9,058
Receivables within one year
+€70,565
Deferred charges and accrued income
+€2,034
Provisions
+€17,064
Trade debts
-€57,655
Tax, wage and social debts
+€512
Other debts
-€9,402
Investment (derived)
-€145,420
Investment in fixed assets (net)
-€145,420
Financing
-€37,785
Debts after one year
+€9,208
Current portion of long-term debt
-€13,202
Short-term financial debts
-€29,107
Contributions, distributions and other
-€4,684
Cash 2025
€7,480
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €431,725 | €416,793 | -€14,932 | -3.5% |
| Fixed assets | 21/28 | €309,291 | €375,954 | +€66,663 | +21.6% |
| Tangible fixed assets | 22/27 | €304,143 | €370,806 | +€66,663 | +21.9% |
| Land and buildings | 22 | €122,356 | €112,786 | -€9,570 | -7.8% |
| Plant, machinery and equipment | 23 | €61,346 | €123,879 | +€62,533 | +102% |
| Furniture and vehicles | 24 | €29,313 | €77,797 | +€48,485 | +165% |
| Leasing and similar rights | 25 | €91,129 | €56,344 | -€34,785 | -38.2% |
| Financial fixed assets | 28 | €5,148 | €5,148 | = | 0.0% |
| Current assets | 29/58 | €122,433 | €40,839 | -€81,594 | -66.6% |
| Stocks and contracts in progress | 3 | €9,058 | - | -€9,058 | |
| Contracts in progress | 37 | €9,058 | - | -€9,058 | |
| Amounts receivable within one year | 40/41 | €90,908 | €20,343 | -€70,565 | -77.6% |
| Trade receivables | 40 | €84,613 | €2,479 | -€82,134 | -97.1% |
| Other amounts receivable | 41 | €6,296 | €17,864 | +€11,568 | +184% |
| Cash at bank and in hand | 54/58 | €7,417 | €7,480 | +€63 | +0.8% |
| Deferred charges and accrued income | 490/1 | €15,050 | €13,016 | -€2,034 | -13.5% |
| Total equity and liabilities | 10/49 | €431,725 | €416,793 | -€14,932 | -3.5% |
| Equity | 10/15 | €115,408 | €183,058 | +€67,650 | +58.6% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Revaluation surpluses | 12 | €99,000 | €99,000 | = | 0.0% |
| Reserves | 13 | €2,400 | €59,991 | +€57,591 | +2,400% |
| Non-distributable reserves | 130/1 | €2,400 | €2,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,400 | €2,400 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €51,191 | +€51,191 | |
| Distributable reserves | 133 | - | €6,400 | +€6,400 | |
| Profit (loss) carried forward | 14 | -€9,992 | €67 | +€10,060 | |
| Provisions and deferred taxes | 16 | - | €17,064 | +€17,064 | |
| Deferred taxes | 168 | - | €17,064 | +€17,064 | |
| Amounts payable | 17/49 | €316,317 | €216,671 | -€99,645 | -31.5% |
| Amounts payable after more than one year | 17 | €99,318 | €108,527 | +€9,208 | +9.3% |
| Financial debts | 170/4 | €99,318 | €108,527 | +€9,208 | +9.3% |
| Amounts payable within one year | 42/48 | €216,999 | €108,145 | -€108,854 | -50.2% |
| Current portion of amounts payable after more than one year | 42 | €53,714 | €40,512 | -€13,202 | -24.6% |
| Financial debts | 43 | €29,107 | - | -€29,107 | |
| Credit institutions | 430/8 | €29,107 | - | -€29,107 | |
| Trade debts | 44 | €66,910 | €9,256 | -€57,655 | -86.2% |
| Suppliers | 440/4 | €66,910 | €9,256 | -€57,655 | -86.2% |
| Taxes, remuneration and social security | 45 | €698 | €1,210 | +€512 | +73.4% |
| Taxes | 450/3 | €698 | €1,210 | +€512 | +73.4% |
| Other amounts payable | 47/48 | €66,569 | €57,167 | -€9,402 | -14.1% |
| Non-recurring operating income | 76A | €5,310 | €1,540 | -€3,770 | -71.0% |
| Remuneration, social security and pensions | 62 | €28,374 | €291 | -€28,082 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,169 | €78,757 | +€5,588 | +7.6% |
| Other operating charges | 640/8 | €5,883 | €15,990 | +€10,107 | +172% |
| Non-recurring operating charges | 66A | €5,853 | - | -€5,853 | |
| Gross operating margin | 9900 | €134,667 | €187,315 | +€52,648 | +39.1% |
| Operating profit (loss) | 9901 | €21,388 | €92,276 | +€70,888 | +331% |
| Financial income | 75/76B | €28 | €34 | +€5 | +19.5% |
| Recurring financial income | 75 | €28 | €34 | +€5 | +19.5% |
| Financial charges | 65/66B | €5,935 | €6,766 | +€831 | +14.0% |
| Recurring financial charges | 65 | €5,935 | €6,766 | +€831 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €15,481 | €85,544 | +€70,063 | +453% |
| Transfer from deferred taxes | 780 | - | €6,246 | +€6,246 | |
| Transfer to deferred taxes | 680 | - | €18,625 | +€18,625 | |
| Income taxes | 67/77 | €225 | €830 | +€605 | +269% |
| Profit (loss) for the period | 9904 | €15,256 | €72,335 | +€57,078 | +374% |
| Transfer to tax-exempt reserves | 689 | - | €55,875 | +€55,875 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,256 | €16,460 | +€1,203 | +7.9% |
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 22 October 2026 via checked.be.