ANNNUAL REPORT 2025
The primary responsibility for the integrity of financial information included in the TERRAM PACIS annual reports and financial statements rests with the TERRAM PACIS Executive Board. This annual report has therefore been prepared based on the Executive Board's best estimates and judgments. The opinions on financial statements are included herein. As a non-profit organisation, we have set the highest standard of ethical financial reporting supported by the organisation’s standards: our core values and policies. A careful attention is given to the constant track on how funds are used, to ensure that the adequate and unbiased reporting standards are attained. Our procedure provides reasonable assurance that all the operations are conducted in conformity with the applicable rules as set out by the donors in each grant agreement and with the organisation's commitment to high standards of ethical financial reporting.
The balance sheets and related statements of income as well as cash flows for the period ended on December 31 of the reporting year, and the related notes express the Executive Board qualified opinion herein. Thus, Executive Board’s assessment on the effectiveness of internal control over financial reporting is presented herein. Executive Board's responsibility is to express the opinion on the organisation’s internal control over its financial reporting based on internal audits. Under Norwegian Accounting Act, TERRAM PACIS is not required to use the external auditors. If an external auditor is required, the requirement is set out within the grant agreement, and can be done by project. We thus believe that our audit provides a reasonable basis for our opinion.
Our procedure provides reasonable assurance that all the operations are conducted in conformity with the applicable rules as set out by the donors in each grant agreement and with the organisation's commitment to high standards of ethical financial reporting.
The TERRAM PACIS Executive Board pursues its responsibility for the quality of the organisation’s financial reporting, which primarily acts as the internal audit committee, to ensure that our responsibility to ethical internal budget control and financial reporting are met. In our opinion, and in all our reports, the organisation maintains, in all material respects effective internal control over financial reporting based on the Executive Board assessment of and its conclusion on the effectiveness of internal control over financial reporting. Each annual financial reporting includes the budget that was acquired as the final payments for the projects that were completed in the previous year(s), which are included in the current financial statements and represents 35% of the total cash flow as of December 31 of the reporting year.
The balance sheets and related statements of income as well as cash flows for the period ended on December 31 of the reporting year, and the related notes express the Executive Board qualified opinion herein. Thus, Executive Board’s assessment on the effectiveness of internal control over financial reporting is presented herein. Executive Board's responsibility is to express the opinion on the organisation’s internal control over its financial reporting based on internal audits. Under Norwegian Accounting Act, TERRAM PACIS is not required to use the external auditors. If an external auditor is required, the requirement is set out within the grant agreement, and can be done by project. We thus believe that our audit provides a reasonable basis for our opinion.
2025 BUDGET€ 108,250.00
Revennues
- In-kind donation0.00%
- Fundraising events0.00%
- Individual donation0.23%
- Governmental Grants0.00%
- EEA and Norway Grants12.93%
- Other funds and grants2.77%
- European Union Grants14.78%
- Other organisation assets13.86%
- Contribution and donation4.62%
- Budget received from partners50.81%
2025 SPENT BUDGET€ 83,900.00
Expenditures
- Rent and office occupancy6.08%
- Office equipment purchase5.24%
- Management and staff cost4.17%
- Training programmes travels2.98%
- Meeting lodging and boarding7.15%
- Transnational meeting travels0.95%
- Meeting lodging and boarding0.48%
- Marketing and communication1.43%
- Dissemination and production5.96%
- Budget allocated to partners65.55%
2026 BUDGET€ 45,250.00
Revennues
- In-kind donation8.84%
- Fundraising events11.05%
- Individual donation2.76%
- Governmental Grants4.42%
- EEA and Norway Grants11.05%
- Other funds and grants6.63%
- European Union Grants35.36%
- Other organisation assets13.26%
- Contribution and donation6.63%
- Budget received from partners0.00%
2026 SPENT BUDGET€ 28,600.00
Expenditures
- Rent and office occupancy4.20%
- Office equipment purchase11.89%
- Management and staff cost5.24%
- Training programmes travels12.24%
- Meeting lodging and boarding27.97%
- Transnational meeting travels7.69%
- Meeting lodging and boarding5.59%
- Marketing and communication4.20%
- Dissemination and production20.98%
- Budget allocated to partners0.00%
2025 BALANCE SHEET details
2025 Income€ 108,250.00
Revenues |
||||
|---|---|---|---|---|
| EUR | NOK | Percentage | ||
| 1 | In-kind donation | 0.00 | 0.00 | 0.0% |
| 2 | Fundraising events | 0.00 | 0.00 | 0.0% |
| 3 | Individual donation | 250.00 | 2,810.00 | 0.2% |
| 4 | Governmental Grants | 0.00 | 0.00 | 0.2% |
| 5 | EEA and Norway Grants | 14,000.00 | 157,360.00 | 12.9% |
| 6 | Other funds and grants | 3,000.00 | 33,720.00 | 2.8% |
| 7 | European Union Grants | 16,000.00 | 186,240.00 | 14.8% |
| 8 | Other organisation assets | 15,000.00 | 172,100.00 | 13.9% |
| 9 | Contribution and donation | 5,000.00 | 56,200.00 | 4.6% |
| 10 | Budget received from partners | 55,000.00 | 640,200.00 | 50.8% |
Total revenues: |
108,250.00 | 1,248,630.00 | 100% | |
2025 Expenses€ 83,900.00
Expenditures |
||||
|---|---|---|---|---|
| EUR | NOK | Percentage | ||
| 1 | Rent and office occupancy | 5,100.00 | 5,100.00 | 6.0% |
| 2 | Office equipment purchase | 4,400.00 | 4,400.00 | 5.0% |
| 3 | Management and staff cost | 3,500.00 | 3,500.00 | 4.0% |
| 4 | Training programmes travels | 2,500.00 | 2,500.00 | 3.0% |
| 5 | Meeting lodging and boarding | 6,000.00 | 6,000.00 | 7.0% |
| 6 | Transnational meeting travels | 800.00 | 800.00 | 1.0% |
| 7 | Meeting lodging and boarding | 400.00 | 400.00 | 0.0% |
| 8 | Marketing and communication | 1,200.00 | 1,200.00 | 1.0% |
| 9 | Dissemination and production | 5,000.00 | 5,000.00 | 6.0% |
| 10 | Budget allocated to partners | 55,000.00 | 55,000.00 | 66.0% |
Total Expenditures: |
83,900.00 | 976,596.00 | 100% | |
1 € = 10.113 NOK, Exchange rate in december 2019 at inforeuro
Statements of financial position: 31.12.2025
Current assets |
||||
|---|---|---|---|---|
| EUR | NOK | |||
| Account receivable | ||||
| In-kind donation | 0.00 | 0.00 | ||
| Fundraising events | 0.00 | 0.00 | ||
| Individual donation | 250.00 | 2,810.00 | ||
| Contribution and donation | 5,000.00 | 56,200.00 | ||
| Budget received from partners | 55,000.00 | 640,200.00 | ||
| Grant receivable | ||||
| Governmental Grants | 0.00 | 0.00 | ||
| EEA and Norway Grants | 14,000.00 | 157,360.00 | ||
| Other funds and grants | 3,000.00 | 33,720.00 | ||
| European Union Grants | 16,000.00 | 186,240.00 | ||
| Cash and cash equivalents | ||||
| Other organisation assets | 15,000.00 | 172,100.00 | ||
| Total curent assets | 108,250.00 | 1,248,630.00 | ||
Current liabilities |
||||
| EUR | NOK | |||
| Account payable | ||||
| Rent and office occupancy | 3,600.00 | 41,904.00 | ||
| Office equipment purchase | 2,400.00 | 27,936.00 | ||
| Management and staff cost | 1,500.00 | 17,460.00 | ||
| Training programmes travels | 2,500.00 | 29,100.00 | ||
| Meeting lodging and boarding | 6,000.00 | 69,840.00 | ||
| Transnational meeting travels | 800.00 | 9,312.00 | ||
| Meeting lodging and boarding | 400.00 | 4,656.00 | ||
| Marketing and communication | 1,200.00 | 13,968.00 | ||
| Dissemination and production | 5,000.00 | 58,200.00 | ||
| Budget allocated to partners | 55,000.00 | 640,200.00 | ||
| Accrued liabilities | ||||
| Rent and office occupancy | 1,500.00 | 17,460.00 | ||
| Office equipment purchase | 2,000.00 | 23,280.00 | ||
| Management and staff cost | 2,000.00 | 23,280.00 | ||
| Total curent liabilities | 83,900.00 | 976,596.00 | ||
Net assets |
||||
| EUR | NOK | |||
| Total net assets | 24,350.00 | 272,034.00 | ||
2026 BALANCE SHEET details
2026 Income€ 45,250.00
Revenues |
||||
|---|---|---|---|---|
| EUR | NOK | Percentage | ||
| 1 | In-kind donation | 4,000.00 | 44,960.00 | 9.0% |
| 2 | Fundraising events | 5,000.00 | 58,200.00 | 11.0% |
| 3 | Individual donation | 1,250.00 | 14,050.00 | 3.0% |
| 4 | Governmental Grants | 2,000.00 | 22,280.00 | 4.0% |
| 5 | EEA and Norway Grants | 5,000.00 | 56,200.00 | 11.0% |
| 6 | Other funds and grants | 3,000.00 | 33,720.00 | 7.0% |
| 7 | European Union Grants | 16,000.00 | 186,240.00 | 35.0% |
| 8 | Other organisation assets | 6,000.00 | 69,840.00 | 13.0% |
| 9 | Contribution and donation | 3,000.00 | 34,920.00 | 7.0% |
| 10 | Budget received from partners | 0.00 | 0.00 | 7.0% |
Total revenues: |
45,250.00 | 520,410.00 | 100% | |
2026 Expenses€ 28,600.00
Expenditures |
||||
|---|---|---|---|---|
| EUR | NOK | Percentage | ||
| 1 | Rent and office occupancy | 1,200.00 | 13,968.00 | 4.0% |
| 2 | Office equipment purchase | 3,400.00 | 39,576.00 | 12.0% |
| 3 | Management and staff cost | 1,500.00 | 17,460.00 | 5.0% |
| 4 | Training programmes travels | 3,500.00 | 40,740.00 | 12.0% |
| 5 | Meeting lodging and boarding | 8,000.00 | 93,120.00 | 28.0% |
| 6 | Transnational meeting travels | 2,200.00 | 25,608.00 | 8.0% |
| 7 | Meeting lodging and boarding | 1,600.00 | 18,624.00 | 6.0% |
| 8 | Marketing and communication | 1,200.00 | 13,968.00 | 4.0% |
| 9 | Dissemination and production | 6,000.00 | 69,840.00 | 21.0% |
| 10 | Budget allocated to partners | 0.00 | 0.00 | 21.0% |
Total Expenditures: |
28,600.00 | 332,904.00 | 100% | |
1 € = 10.113 NOK, Exchange rate in december 2019 at inforeuro
Statements of financial position: 31.12.2026
Current assets |
||||
|---|---|---|---|---|
| EUR | NOK | |||
| Account receivable | ||||
| In-kind donation | 4,000.00 | 44,960.00 | ||
| Fundraising events | 5,000.00 | 58,200.00 | ||
| Individual donation | 1,250.00 | 14,050.00 | ||
| Contribution and donation | 3,000.00 | 34,920.00 | ||
| Budget received from partners | 0.00 | 0.00 | ||
| Grant receivable | ||||
| Governmental Grants | 2,000.00 | 22,280.00 | ||
| EEA and Norway Grants | 5,000.00 | 56,200.00 | ||
| Other funds and grants | 3,000.00 | 33,720.00 | ||
| European Union Grants | 16,000.00 | 186,240.00 | ||
| Cash and cash equivalents | ||||
| Other organisation assets | 6,000.00 | 69,840.00 | ||
| Total curent assets | 45,250.00 | 520,410.00 | ||
Current liabilities |
||||
| EUR | NOK | |||
| Account payable | ||||
| Rent and office occupancy | 1,200.00 | 13,968.00 | ||
| Office equipment purchase | 3,400.00 | 39,576.00 | ||
| Management and staff cost | 1,500.00 | 17,460.00 | ||
| Training programmes travels | 3,500.00 | 40,740.00 | ||
| Meeting lodging and boarding | 8,000.00 | 93,120.00 | ||
| Transnational meeting travels | 2,200.00 | 25,608.00 | ||
| Meeting lodging and boarding | 1,600.00 | 18,624.00 | ||
| Marketing and communication | 1,200.00 | 13,968.00 | ||
| Dissemination and production | 6,000.00 | 69,840.00 | ||
| Budget allocated to partners | 0.00 | 0.00 | Accrued liabilities | |
| Rent and office occupancy | 0.00 | 0.00 | ||
| Office equipment purchase | 0.00 | 0.00 | ||
| Management and staff cost | 0.00 | 0.00 | ||
| Total curent liabilities | 28,600 | 332,904 | ||
Net assets |
||||
| EUR | NOK | |||
| Total net assets | 16,650.00 | 187,506.00 | ||
