DE TORRE: what changed
Two fiscal 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.
DE TORRE
Largest movements
- Deferred charges and accrued income -€89,658
down €89,658 (-93.1%), from €96,273 to €6,615
- Tangible fixed assets -€67,725
down €67,725 (-26.5%), from €255,938 to €188,213
of which Leasing and similar rights: -€63,721
- Stocks and contracts -€47,977
down €47,977 (-11.3%), from €422,815 to €374,838
- Receivables within one year +€28,839
up €28,839 (+4.6%), from €629,729 to €658,568
of which Trade receivables: +€39,375
- Trade debts -€117,548
down €117,548 (-26.5%), from €444,100 to €326,552
- Accrued charges and deferred income -€115,097
down €115,097 (-73.2%), from €157,184 to €42,087
- Debts after one year -€85,186
down €85,186 (-25.5%), from €333,544 to €248,358
- Other debts +€75,814
up €75,814 (+608.4%), from €12,462 to €88,276
- Reserves +€50,997
up €50,997 (+25.3%), from €201,457 to €252,454
of which Distributable reserves: +€50,997
- Gross operating margin +€365,825
up €365,825 (+29.7%), from €1.2m to €1.6m
- Staff costs +€290,293
up €290,293 (+27.7%), from €1.0m to €1.3m
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.
Cash bridge derived
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,501,605 | €1,312,184 | -€189,421 | -12.6% |
| Fixed assets | 21/28 | €259,738 | €192,013 | -€67,725 | -26.1% |
| Tangible fixed assets | 22/27 | €255,938 | €188,213 | -€67,725 | -26.5% |
| Land and buildings | 22 | €36,806 | €35,975 | -€831 | -2.3% |
| Plant, machinery and equipment | 23 | €7,479 | €5,830 | -€1,649 | -22.0% |
| Furniture and vehicles | 24 | €5,880 | €5,560 | -€320 | -5.4% |
| Leasing and similar rights | 25 | €200,076 | €136,355 | -€63,721 | -31.8% |
| Other tangible fixed assets | 26 | €5,696 | €4,492 | -€1,204 | -21.1% |
| Financial fixed assets | 28 | €3,800 | €3,800 | = | 0.0% |
| Current assets | 29/58 | €1,241,868 | €1,120,171 | -€121,697 | -9.8% |
| Stocks and contracts in progress | 3 | €422,815 | €374,838 | -€47,977 | -11.3% |
| Stocks | 30/36 | €422,815 | €374,838 | -€47,977 | -11.3% |
| Amounts receivable within one year | 40/41 | €629,729 | €658,568 | +€28,839 | +4.6% |
| Trade receivables | 40 | €253,778 | €293,153 | +€39,375 | +15.5% |
| Other amounts receivable | 41 | €375,951 | €365,415 | -€10,536 | -2.8% |
| Cash at bank and in hand | 54/58 | €93,050 | €80,151 | -€12,899 | -13.9% |
| Deferred charges and accrued income | 490/1 | €96,273 | €6,615 | -€89,658 | -93.1% |
| Total equity and liabilities | 10/49 | €1,501,605 | €1,312,184 | -€189,421 | -12.6% |
| Equity | 10/15 | €263,657 | €314,654 | +€50,997 | +19.3% |
| Contributions | 10/11 | €62,200 | €62,200 | = | 0.0% |
| Reserves | 13 | €201,457 | €252,454 | +€50,997 | +25.3% |
| Tax-exempt reserves | 132 | €768 | €768 | -€0 | 0.0% |
| Distributable reserves | 133 | €200,689 | €251,686 | +€50,997 | +25.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,237,948 | €997,530 | -€240,418 | -19.4% |
| Amounts payable after more than one year | 17 | €333,544 | €248,358 | -€85,186 | -25.5% |
| Financial debts | 170/4 | €333,544 | €248,358 | -€85,186 | -25.5% |
| Amounts payable within one year | 42/48 | €747,221 | €707,086 | -€40,135 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €88,638 | €95,196 | +€6,558 | +7.4% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Other loans | 439 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €444,100 | €326,552 | -€117,548 | -26.5% |
| Suppliers | 440/4 | €444,100 | €326,552 | -€117,548 | -26.5% |
| Taxes, remuneration and social security | 45 | €77,021 | €72,062 | -€4,959 | -6.4% |
| Taxes | 450/3 | €17,921 | €15,527 | -€2,394 | -13.4% |
| Remuneration and social security | 454/9 | €59,100 | €56,535 | -€2,565 | -4.3% |
| Other amounts payable | 47/48 | €12,462 | €88,276 | +€75,814 | +608.4% |
| Accrued charges and deferred income | 492/3 | €157,184 | €42,087 | -€115,097 | -73.2% |
| Non-recurring operating income | 76A | €17,000 | €0 | -€17,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,046,235 | €1,336,528 | +€290,293 | +27.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,664 | €72,393 | -€1,271 | -1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,009 | €0 | -€4,009 | -100.0% |
| Other operating charges | 640/8 | €8,788 | €16,272 | +€7,484 | +85.2% |
| Gross operating margin | 9900 | €1,231,428 | €1,597,253 | +€365,825 | +29.7% |
| Operating profit (loss) | 9901 | €98,732 | €172,059 | +€73,327 | +74.3% |
| Financial income | 75/76B | €160 | €95 | -€65 | -40.8% |
| Recurring financial income | 75 | €160 | €95 | -€65 | -40.8% |
| Financial charges | 65/66B | €22,800 | €19,802 | -€2,998 | -13.2% |
| Recurring financial charges | 65 | €22,800 | €19,802 | -€2,998 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €76,093 | €152,352 | +€76,259 | +100.2% |
| Income taxes | 67/77 | €17,532 | €26,355 | +€8,823 | +50.3% |
| Profit (loss) for the period | 9904 | €58,560 | €125,997 | +€67,437 | +115.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,560 | €125,997 | +€67,437 | +115.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.