Den Toeter: what changed
Two financial 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.
Den Toeter
Largest movements
- Cash -€66,379
down €66,379 (-63.2%), from €105,005 to €38,626
mainly Net result for the year (-€63,491) and Receivables within one year (-€20,673)
- Receivables within one year +€20,673
up €20,673 (+334.5%), from €6,180 to €26,852
- Tangible fixed assets -€7,451
down €7,451 (-59.0%), from €12,635 to €5,184
- Deferred charges and accrued income -€6,602
down €6,602 (-93.9%), from €7,034 to €432
- Reserves -€63,491
down €63,491 (-76.7%), from €82,776 to €19,285
- Tax, wage and social debts -€7,268
down €7,268 (-17.7%), from €41,011 to €33,743
of which Remuneration and social security: -€3,803
- Trade debts +€7,062
up €7,062 (+304.0%), from €2,323 to €9,386
- Accrued charges and deferred income +€2,893
new in 2025: €2,893
- Other debts +€2,545
up €2,545 (+25.9%), from €9,844 to €12,389
- Financial charges +€82,587
up €82,587 (+11596.2%), from €712 to €83,299
of which Non-recurring financial charges: +€83,000
- Gross operating margin -€36,881
down €36,881 (-15.4%), from €238,891 to €202,010
- Staff costs +€35,176
up €35,176 (+25.6%), from €137,329 to €172,505
- Taxes -€18,750
down €18,750 (-100.0%), from €18,760 to €9
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 | €138,954 | €79,195 | -€59,759 | -43.0% |
| Fixed assets | 21/28 | €20,735 | €13,284 | -€7,451 | -35.9% |
| Tangible fixed assets | 22/27 | €12,635 | €5,184 | -€7,451 | -59.0% |
| Plant, machinery and equipment | 23 | €12,635 | €5,184 | -€7,451 | -59.0% |
| Financial fixed assets | 28 | €8,100 | €8,100 | = | 0.0% |
| Current assets | 29/58 | €118,219 | €65,911 | -€52,308 | -44.2% |
| Amounts receivable within one year | 40/41 | €6,180 | €26,852 | +€20,673 | +334.5% |
| Trade receivables | 40 | €6,180 | €26,852 | +€20,673 | +334.5% |
| Cash at bank and in hand | 54/58 | €105,005 | €38,626 | -€66,379 | -63.2% |
| Deferred charges and accrued income | 490/1 | €7,034 | €432 | -€6,602 | -93.9% |
| Total equity and liabilities | 10/49 | €138,954 | €79,195 | -€59,759 | -43.0% |
| Equity | 10/15 | €84,276 | €20,785 | -€63,491 | -75.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €82,776 | €19,285 | -€63,491 | -76.7% |
| Distributable reserves | 133 | €82,776 | €19,285 | -€63,491 | -76.7% |
| Amounts payable | 17/49 | €54,678 | €58,410 | +€3,732 | +6.8% |
| Amounts payable after more than one year | 17 | €1,500 | €0 | -€1,500 | -100.0% |
| Financial debts | 170/4 | €1,500 | €0 | -€1,500 | -100.0% |
| Amounts payable within one year | 42/48 | €53,178 | €55,517 | +€2,340 | +4.4% |
| Trade debts | 44 | €2,323 | €9,386 | +€7,062 | +304.0% |
| Suppliers | 440/4 | €2,323 | €9,386 | +€7,062 | +304.0% |
| Taxes, remuneration and social security | 45 | €41,011 | €33,743 | -€7,268 | -17.7% |
| Taxes | 450/3 | €18,079 | €14,614 | -€3,465 | -19.2% |
| Remuneration and social security | 454/9 | €22,932 | €19,129 | -€3,803 | -16.6% |
| Other amounts payable | 47/48 | €9,844 | €12,389 | +€2,545 | +25.9% |
| Accrued charges and deferred income | 492/3 | - | €2,893 | +€2,893 | |
| Remuneration, social security and pensions | 62 | €137,329 | €172,505 | +€35,176 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,156 | €9,209 | +€1,053 | +12.9% |
| Other operating charges | 640/8 | €505 | €577 | +€71 | +14.1% |
| Gross operating margin | 9900 | €238,891 | €202,010 | -€36,881 | -15.4% |
| Operating profit (loss) | 9901 | €92,901 | €19,720 | -€73,181 | -78.8% |
| Financial income | 75/76B | €104 | €98 | -€6 | -5.5% |
| Recurring financial income | 75 | €104 | €98 | -€6 | -5.5% |
| Financial charges | 65/66B | €712 | €83,299 | +€82,587 | +11596.2% |
| Recurring financial charges | 65 | €712 | €299 | -€413 | -58.0% |
| Non-recurring financial charges | 66B | - | €83,000 | +€83,000 | |
| Profit (loss) for the period before taxes | 9903 | €92,292 | -€63,482 | -€155,774 | |
| Income taxes | 67/77 | €18,760 | €9 | -€18,750 | -100.0% |
| Profit (loss) for the period | 9904 | €73,533 | -€63,491 | -€137,024 | |
| Profit (loss) for the period to be appropriated | 9905 | €73,533 | -€63,491 | -€137,024 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.