Summary
Conclusion
the dossier summarised in one paragraphA bankruptcy procedure is open for TERRA according to publications in the Belgian State Gazette. The 2024 annual accounts show equity of €43k and a net result of €6k.
Based on the State Gazette, CBE and 6 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy opened
A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.
Insolvency timeline
1 events18-12-2025
Bankruptcy
Opening
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 10 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
How we compute the deadline
The year end is derived from 6 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 29-08-2025 | 29 d late | 2025-00465140 |
| 31-12-2023 | 31-07-2024 | 01-07-2024 | 30 d early | 2024-00218484 |
| 31-12-2022 | 31-07-2023 | 30-08-2023 | 30 d late | 2023-00403783 |
| 31-12-2021 | 31-07-2022 | 15-07-2022 | 16 d early | 2022-20202996 |
| 31-12-2020 | 31-07-2021 | 30-08-2021 | 30 d late | 2021-60000277 |
| 31-12-2019 | 31-07-2020 | 31-08-2020 | 31 d late | 2020-48200211 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsRegister: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.
Administrative Flags
No administrative flags
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€6k-30.8%
Working capital€47k-18.5%
Directors1
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 29-08-2025 with the NBB · fiscal year 2024 · verkort
Sector comparison
Fiscal year 2024 · NACE 41, Construction of buildings · compared within the same schema type (abbreviated schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 15.6% | 24.2% | |
| Net result | €6k | €16k | |
| Equity | €43k | €73k | |
| Gross operating margin | €37k | €81k | |
| Total assets | €277k | €528k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P38
Weakening position over 2020-2024
· n=134-333
P40
Stable position over 2020-2024
· n=135-333
P40
Improving position over 2020-2024
· n=135-333
P34
Improving position over 2020-2024
· n=135-333
Describes the position versus peers, not a forecast.
€15k
-23.2%
19-24
€6k
-30.8%
19-24
€10k
-33.6%
19-24
€277k
+70.0%
19-24
€43k
+17.0%
19-24
€47k
-18.5%
19-24
€3k
-24.3%
19-24
€234k
+85.5%
19-24
€222k
+133.1%
19-24
1.21
-24.5%
19-24
1.21
-24.5%
19-24
15.6%
-31.2%
19-24
5.42
+58.5%
19-24
14.6%
-40.9%
19-24
2.3%
-59.3%
19-24
6.64
-68.7%
19-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | verkort |
| Revenue | - |
| EBITDA | €15k |
| Net profit | €6k |
| Cash flow | €10k |
| Staff costs | - |
| Income taxes | €3k |
| Dividends | - |
| Total assets | €277k |
| Equity | €43k |
| Debt | €234k |
| of which ≤ 1y | €222k |
| of which > 1y | - |
| Working capital | €47k |
| Employees (FTE) | - |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 1.21 |
| Quick ratio | 1.21 |
| Working capital ratio | 16.9% |
| Solvency | 15.6% |
| Debt / equity | 5.42 |
| Long-term debt ratio | - |
| Interest coverage | 6.64 |
| Gross margin | - |
| Net margin | - |
| ROA | 2.3% |
| ROE | 14.6% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €277k |
| Fixed assets | 21/28 | €8k |
| Tangible fixed assets | 22/27 | €7k |
| Financial fixed assets | 28 | €250 |
| Current assets | 29/58 | €269k |
| Amounts receivable within one year | 40/41 | €269k |
| Cash & bank | 54/58 | €360 |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €277k |
| Equity | 10/15 | €43k |
| Contributions / capital | 10/11 | €6k |
| Reserves | 13 | €37k |
| Amounts payable | 17/49 | €234k |
| Amounts payable within one year | 42/48 | €222k |
| Trade debts payable within one year | 44 | €121k |
| Income statement | ||
| Gross operating margin | 9900 | €37k |
| Operating result | 9901 | €12k |
| Financial charges | 65 | €2k |
| Result before taxes | 9903 | €9k |
| Income taxes | 67/77 | €3k |
| Net result for the period | 9904 | €6k |
| Result to be appropriated | 9905 | €6k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed8
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit with Plus.
See plans →Computed by Checked from the NBB filing for FY 2024 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Directors
Directors & mandates
2 directorsCurrent directors & mandates
-
Leone CarloDirectorState Gazette act 24138282 (25-09-2024)Current01-07-2024 → present
Former directors (1)
-
Ubachs PatrickDirectorState Gazette act 24071481 (08-05-2024)Former15-01-2024 → 30-06-2024
2 events
- 30-06-2024 Resigned· Director
- 15-01-2024 Appointed· Director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Insolvency mandates
1 mandate| Role | Name | Tenure | Source |
|---|---|---|---|
| Curator | KATHLEEN VELKENEERS KASTEELSTRAAT 23B,
3840 TONGEREN-BORGLOON |
11-12-2025 → present | Belgian State Gazette |
Legal Structure
| NACE primary | Algemene bouw van residentiële gebouwen(41001) |
| Legal form | Private limited company(610) |
| Incorporation | 23-04-2019 |
| Status | Active |
| Postal code | 3630 |
| First BS signal | 18-12-2025 |
| Latest BS signal | 18-12-2025 |
Structure & network
Company structure: linked entities
1 linked entityMandates
↔
1
of these mandate-holders are active on other cases, click any red card to open that KBO.
Locations & real estate
Establishment units
1 locationTERRA
since 20192.288.956.213
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels1
Ground area238 m²
Buildings1
Building footprint1,251 m²
Volume (LiDAR)5,969 m³
Tallest building8.5 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048C0475/00Y002 | Flanders | 238 m² | 1 · 1,251 m² | 8.5 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Publications
Lifecycle & Insolvency Signals
1 event from the State Gazette18-12-2025
Bankruptcy
Opening
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
3 acts All acts · 3
updated 1 year ago
2024
25-09-2024 1 director appointed, 1 resigning
- Leone Carlo, Bestuurder
- Ubachs Patrick, Bestuurder
08-05-2024 Ubachs Patrick appointed as director
- Ubachs Patrick, Bestuurder
2023
17-11-2023 Discharge granted to the board
Notary:
Nathalie Thierry Velghe · Maasmechelen
Analysis
Snowflake analysis
financial profile on 5 axes32
/ 100
Fragile profile, watch stability in particular.
All 5 axes are computed from data Checked has read.
Health
8
Profitability
73
Solvency
26
Growth
52
Stability
0
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Credit advice
verdict per customer and amountSimilar
Similar companies
Same sector, ranked by comparable sizeCompany registry
Company registry (CBE)
Crossroads BankActivities
Algemene bouw van residentiële gebouwen41001Algemene bouw van residentiële gebouwen41201Overige werkzaamheden in verband met de afwerking van gebouwen43350Overige werkzaamheden in verband met de afwerking van gebouwen43390
Primary activity highlighted.
Names & trade names
| Legal nameNL | TERRA |
Registered office
Zandstraat(M) 21
3630 Maasmechelen, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.