Terra Develop: what changed
What changed
Terra Develop
filed annual accounts (NBB)
Net result for the year
€18,562
2024 · €4,879+€13,683
Equity
€42,207
2024 · €23,645+€18,562
Cash
€10,947
2024 · €11,431-€484
Balance sheet total
€3.9m
2024 · €6.9m-€3.0m
Largest movements
Assets
- Stocks and contracts -€3.3m
down €3.3m (-54.4%), from €6.0m to €2.8m
- Receivables within one year +€251,699
new in 2025: €251,699
of which Other amounts receivable: +€250,000
Equity and liabilities
- Debts after one year -€2.7m
down €2.7m (-46.7%), from €5.7m to €3.1m
- Other debts -€381,000
down €381,000 (-32.4%), from €1.2m to €794,833
Income statement
- Gross operating margin +€62,511
up €62,511 (+109%), from €57,184 to €119,695
- Financial charges +€61,479
up €61,479 (+411%), from €14,957 to €76,436
- Depreciation -€26,393
down €26,393 (-64.8%), from €40,748 to €14,355
- Financial income -€5,950
down €5,950 (-99.7%), from €5,970 to €20
- Taxes +€5,352
up €5,352 (+325%), from €1,648 to €7,000
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4,879
Gross operating margin
+€62,511
Depreciation
+€26,393
Other operating charges
-€2,441
Financial income
-€5,950
Financial charges
-€61,479
Taxes
-€5,352
Result 2025
€18,562
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.7m
Investment
€0
Financing
-€2.7m
Cash 2024
€11,431
From operations (derived)
+€2.7m
Net result for the year
+€18,562
Depreciation
+€14,355
Stocks and contracts
+€3.3m
Receivables within one year
-€251,699
Smaller working-capital items
-€164
Other debts
-€381,000
Financing
-€2.7m
Debts after one year
-€2.7m
Cash 2025
€10,947
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,931,643 | €3,894,040 | -€3.0m | -43.8% |
| Fixed assets | 21/28 | €895,537 | €881,182 | -€14,355 | -1.6% |
| Tangible fixed assets | 22/27 | €895,537 | €881,182 | -€14,355 | -1.6% |
| Land and buildings | 22 | €895,537 | €881,182 | -€14,355 | -1.6% |
| Current assets | 29/58 | €6,036,106 | €3,012,858 | -€3.0m | -50.1% |
| Stocks and contracts in progress | 3 | €6,024,674 | €2,750,212 | -€3.3m | -54.4% |
| Stocks | 30/36 | €6,024,674 | €2,750,212 | -€3.3m | -54.4% |
| Amounts receivable within one year | 40/41 | - | €251,699 | +€251,699 | |
| Trade receivables | 40 | - | €1,699 | +€1,699 | |
| Other amounts receivable | 41 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €11,431 | €10,947 | -€484 | -4.2% |
| Total equity and liabilities | 10/49 | €6,931,643 | €3,894,040 | -€3.0m | -43.8% |
| Equity | 10/15 | €23,645 | €42,207 | +€18,562 | +78.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €13,645 | €30,000 | +€16,355 | +120% |
| Distributable reserves | 133 | €13,645 | €30,000 | +€16,355 | +120% |
| Profit (loss) carried forward | 14 | - | €2,207 | +€2,207 | |
| Amounts payable | 17/49 | €6,907,997 | €3,851,833 | -€3.1m | -44.2% |
| Amounts payable after more than one year | 17 | €5,725,000 | €3,050,000 | -€2.7m | -46.7% |
| Financial debts | 170/4 | €5,725,000 | €3,050,000 | -€2.7m | -46.7% |
| Amounts payable within one year | 42/48 | €1,182,997 | €801,833 | -€381,164 | -32.2% |
| Trade debts | 44 | €5,533 | - | -€5,533 | |
| Suppliers | 440/4 | €5,533 | - | -€5,533 | |
| Taxes, remuneration and social security | 45 | €1,632 | €7,000 | +€5,368 | +329% |
| Taxes | 450/3 | €1,632 | €7,000 | +€5,368 | +329% |
| Other amounts payable | 47/48 | €1,175,833 | €794,833 | -€381,000 | -32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,748 | €14,355 | -€26,393 | -64.8% |
| Other operating charges | 640/8 | €921 | €3,362 | +€2,441 | +265% |
| Gross operating margin | 9900 | €57,184 | €119,695 | +€62,511 | +109% |
| Operating profit (loss) | 9901 | €15,515 | €101,979 | +€86,463 | +557% |
| Financial income | 75/76B | €5,970 | €20 | -€5,950 | -99.7% |
| Recurring financial income | 75 | €5,970 | €20 | -€5,950 | -99.7% |
| Financial charges | 65/66B | €14,957 | €76,436 | +€61,479 | +411% |
| Recurring financial charges | 65 | €14,957 | €76,436 | +€61,479 | +411% |
| Profit (loss) for the period before taxes | 9903 | €6,527 | €25,562 | +€19,034 | +292% |
| Income taxes | 67/77 | €1,648 | €7,000 | +€5,352 | +325% |
| Profit (loss) for the period | 9904 | €4,879 | €18,562 | +€13,683 | +280% |
| Profit (loss) for the period to be appropriated | 9905 | €4,879 | €18,562 | +€13,683 | +280% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.