ACTIVE

TERRA2

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Financial year 2025 · closed on 31/12/2025

Net result

196,3 k €

+578.1% YoY

Revenue

11,4 M €

+6.6% YoY

Equity

44,1 M €

+0.4% YoY

Workforce

2,9 ETP

-9.4% YoY

What does TERRA2 do?

TERRA2 is a Public limited company incorporated in 1991. Its main activity is: Construction of buildings. Its registered office is in Kortemark. It employs on average 2,9 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0445.949.778

Incorporation

06/12/1991

Legal form

Public limited company

Registered office

Den Triangel 2
8610 Kortemark · FlandreSee on map

Contributed capital

1 108 000,00 €

Latest accounts

31/12/2025

Average workforce

2,9 ETP

Activities (NACE)

41001Construction of buildings· main 41101Development of building projects 41201Construction of residential and non-residential buildings 68121Buying and selling of own real estate 70111Activities of head offices 41001Construction of buildings+2

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	11,4 M €	+6.6%	10,7 M €	+18.9%	9 M €	-33.9%	13,6 M €	-11.2%	15,3 M €	+79.5%	8,5 M €	-44.7%	15,4 M €	+53.3%	10,1 M €	+39.9%	7,2 M €	-31.2%	10,4 M €	+43.5%	7,3 M €	+1.3%	7,2 M €	+5.9%	6,8 M €	-15.1%	8 M €	+7.5%	7,4 M €	-33.6%	11,2 M €	+48.7%	7,5 M €	-27.7%	10,4 M €	-34.6%	15,9 M €	-43.8%	28,3 M €
EBITDA	1,3 M €	-5.1%	1,3 M €	+31.3%	1 M €	-49.7%	2 M €	-9.3%	2,2 M €	+81.6%	1,2 M €	-55.5%	2,7 M €	+42.0%	1,9 M €	-15.3%	2,3 M €	-30.3%	3,2 M €	+52.4%	2,1 M €	+11.6%	1,9 M €	+40.4%	1,4 M €	-33.2%	2 M €	+11.4%	1,8 M €	-26.4%	2,5 M €	+62.8%	1,5 M €	-1.9%	1,6 M €	+31.1%	1,2 M €	+22.8%	965,9 k €
Operating result	1,2 M €	-5.6%	1,3 M €	+32.1%	977,2 k €	-50.7%	2 M €	-9.2%	2,2 M €	+84.5%	1,2 M €	-55.9%	2,7 M €	+42.7%	1,9 M €	-15.6%	2,2 M €	-30.6%	3,2 M €	+53.2%	2,1 M €	+11.9%	1,9 M €	+41.3%	1,3 M €	-33.8%	2 M €	+11.8%	1,8 M €	-26.7%	2,4 M €	+64.1%	1,5 M €	-2.0%	1,5 M €	+31.7%	1,2 M €	+28.6%	898,9 k €
Net result	196,3 k €	+578%	28,9 k €	-91.6%	343,5 k €	-97.8%	15,7 M €	+1330%	1,1 M €	+19241%	5,7 k €	-99.6%	1,6 M €	+102%	784,8 k €	-30.5%	1,1 M €	-61.2%	2,9 M €	+35.7%	2,1 M €	+11.3%	1,9 M €	+50.4%	1,3 M €	-49.3%	2,5 M €	-32.7%	3,8 M €	+89.9%	2 M €	+29.1%	1,5 M €	+34.1%	1,1 M €	+4.9%	1,1 M €	+1051%	94,5 k €
Balance sheet
Equity	44,1 M €	+0.4%	43,9 M €	+0.1%	43,8 M €	+0.8%	43,5 M €	+51.9%	28,6 M €	+4.0%	27,5 M €	+0.0%	27,5 M €	+6.1%	25,9 M €	+3.1%	25,2 M €	+4.7%	24 M €	+13.8%	21,1 M €	+11.3%	19 M €	+15.7%	16,4 M €	+8.5%	15,1 M €	+20.0%	12,6 M €	+42.4%	8,9 M €	+28.7%	6,9 M €	+28.6%	5,3 M €	+57.5%	3,4 M €	+47.1%	2,3 M €
Total assets	99 M €	-5.1%	104,3 M €	+16.4%	89,6 M €	+23.1%	72,8 M €	+37.6%	52,9 M €	-6.5%	56,6 M €	-2.9%	58,2 M €	-11.4%	65,7 M €	-6.9%	70,6 M €	+2.7%	68,7 M €	+8.8%	63,2 M €	+15.6%	54,7 M €	+11.6%	49 M €	+28.8%	38 M €	+11.4%	34,1 M €	+12.3%	30,4 M €	-8.8%	33,3 M €	+0.9%	33 M €	+5.4%	31,4 M €	+35.3%	23,2 M €
Cash	192,8 k €	-63.6%	529,5 k €	-40.4%	888,1 k €	+191%	305,2 k €	-87.3%	2,4 M €	+130%	1 M €	-32.4%	1,6 M €	+431%	291,8 k €	-20.2%	365,6 k €	-73.2%	1,4 M €	+505%	225,5 k €	-46.4%	420,3 k €	-10.4%	469,3 k €	+51.6%	309,6 k €	+5.0%	294,9 k €	-53.6%	635,4 k €	+4209%	14,7 k €	-60.5%	37,4 k €	-76.1%	156 k €	-33.3%	233,9 k €
Debts	54,5 M €	-9.1%	59,9 M €	+31.5%	45,6 M €	+56.5%	29,1 M €	+21.2%	24 M €	-16.0%	28,6 M €	-5.4%	30,3 M €	-23.0%	39,3 M €	-12.4%	44,9 M €	+1.7%	44,1 M €	+6.6%	41,4 M €	+17.8%	35,1 M €	+9.6%	32,1 M €	+44.3%	22,2 M €	+4.6%	21,2 M €	+0.4%	21,2 M €	-19.7%	26,3 M €	-4.4%	27,6 M €	-0.9%	27,8 M €	+34.0%	20,8 M €
Other
Workforce	2,9 ETP	-9.4%	3,2 ETP	-52.9%	6,8 ETP	+6.2%	6,4 ETP	+146%	2,6 ETP	0.0%	2,6 ETP	+13.0%	2,3 ETP	-4.2%	2,4 ETP	0.0%	2,4 ETP	+300%	0,6 ETP	-14.3%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	0.0%	0,7 ETP	+133%	0,3 ETP		–		–		36,0 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 18 ended

Active mandates

De Beide Vlaanderen

Director · since 16 juillet 2021 · 0405.489.197

Represented by Wim Verhaeghe

Active

Ended mandates

De Beide Vlaanderen

Managing director · since 16 juillet 2021 · 0405.489.197

Represented by Wim Verhaeghe

Ended

De Beide Vlaanderen

Managing director · since 01 octobre 2017 · until 25 mai 2023 · 0405.489.197

Represented by Wim Verhaeghe

Ended

De Beide Vlaanderen

Managing director · since 01 octobre 2017 · until 25 mai 2023 · 0405.489.197

Represented by Wim Verhaeghe

Ended

Bart VERHAEGHE

Director · since 14 septembre 2016 · until 01 décembre 2016

Ended

At this address

Other companies at this address

Company	CBE no.
De Beide Vlaanderen● Active	0405.489.197
HYBOMA● Active	0878.202.861
KLARIBO● Active	0425.023.019
LEFFINGE LAND● Active	1008.603.525
Lenda● Active	1015.153.401
NIEUW LEFFINGE● Active	1008.603.327
STATIEHUIS● Active	0445.949.976
VLASMEERS²● Active	0448.356.269
WOLVELD²● Active	0405.598.174
ZEE & POLDER● Active	0875.637.806

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	04/06/2026	18/06/2025	17/06/2024	13/06/2023	14/06/2022	03/06/2021
General meeting	28/05/2026	22/05/2025	23/05/2024	25/05/2023	27/05/2022	27/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	28/05/2026	04/06/2026	Dutch	PDF
Full model	31/12/2024	22/05/2025	18/06/2025	Dutch	PDF
Full model	31/12/2023	23/05/2024	17/06/2024	Dutch	PDF
Full model	31/12/2022	25/05/2023	13/06/2023	Dutch	PDF
Full model	31/12/2021	27/05/2022	14/06/2022	Dutch	PDF
Full model	31/12/2020	27/05/2021	03/06/2021	Dutch	PDF
Full model	31/12/2019	28/05/2020	12/06/2020	Dutch	PDF
Full modelCorrection	31/12/2018	25/04/2019	28/10/2019	Dutch	PDF
Full model	31/12/2018	25/04/2019	27/05/2019	Dutch	PDF
Full modelCorrection	31/12/2017	26/04/2018	12/04/2019	Dutch	PDF
Full model	31/12/2017	26/04/2018	05/06/2018	Dutch	PDF
Full model	31/12/2016	27/04/2017	21/06/2017	Dutch	PDF
Full model	31/12/2015	28/04/2016	11/05/2016	Dutch	PDF
Full model	31/12/2014	23/04/2015	05/05/2015	Dutch	PDF
Full model	31/12/2013	24/04/2014	15/05/2014	Dutch	PDF
Full model	31/12/2012	25/04/2013	07/05/2013	Dutch	PDF
Full model	31/12/2011	24/05/2012	18/06/2012	Dutch	PDF
Full model	31/12/2010	26/05/2011	30/05/2011	Dutch	PDF
Full model	31/12/2009	27/05/2010	25/06/2010	Dutch	PDF
Full model	31/12/2008	28/05/2009	17/06/2009	Dutch	PDF
Full model	31/12/2007	30/06/2008	11/08/2008	Dutch	PDF
Full model	31/12/2006	30/06/2007	17/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 18 ended

Active mandates

De Beide Vlaanderen

Director · since 16 juillet 2021 · 0405.489.197

Represented by Wim Verhaeghe

Active

Ended mandates

De Beide Vlaanderen

Managing director · since 16 juillet 2021 · 0405.489.197

Represented by Wim Verhaeghe

Ended

De Beide Vlaanderen

Managing director · since 01 octobre 2017 · until 25 mai 2023 · 0405.489.197

Represented by Wim Verhaeghe

Ended

De Beide Vlaanderen

Managing director · since 01 octobre 2017 · until 25 mai 2023 · 0405.489.197

Represented by Wim Verhaeghe

Ended

Bart VERHAEGHE

Director · since 14 septembre 2016 · until 01 décembre 2016

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates04/07/2024
ONTSLAGEN - BENOEMINGEN
PDF
Mandates04/11/2021
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Mandates10/06/2021
ONTSLAGEN - BENOEMINGEN
PDF
Registered office09/12/2020
MAATSCHAPPELIJKE ZETEL
PDF
Mandates06/06/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/04/2017
ONTSLAGEN - BENOEMINGEN
PDF
Mandates21/10/2016
DOEL - ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025196,3 k €↑
2024
Annual accounts 202428,9 k €↓
23/05/2024
reconductionNV CALLENS VANDELANOTTE — commissaris
23/05/2024
nominationNikolas Vandelanotte — vertegenwoordiger
2023
Annual accounts 2023343,5 k €↓
2022
Annual accounts 202215,7 M €↑
2021
Annual accounts 20211,1 M €↑
2020
Annual accounts 20205,7 k €↓
2019
Annual accounts 20191,6 M €↑
2018
Annual accounts 2018784,8 k €↓
2017
Annual accounts 20171,1 M €↓
2016
Annual accounts 20162,9 M €↑
2015
Annual accounts 20152,1 M €↑
2014
Annual accounts 20141,9 M €↑
2013
Annual accounts 20131,3 M €↓
2012
Annual accounts 20122,5 M €↓
2011
Annual accounts 20113,8 M €↑
2010
Annual accounts 20102 M €↑
2009
Annual accounts 20091,5 M €↑
2008
Annual accounts 20081,1 M €↑
2007
Annual accounts 20071,1 M €↑
2006
Annual accounts 200694,5 k €
06/12/1991
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

TERRA2

Overview

What does TERRA2 do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline