EL TURO: 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.
EL TURO
Largest movements
- Tangible fixed assets +€703,111
up €703,111 (+161%), from €437,604 to €1.1m
- Cash +€92,627
up €92,627 (+2,679%), from €3,457 to €96,084
mainly Debts after one year (+€611,845) and Other debts (+€137,345)
- Receivables within one year +€49,827
up €49,827 (+19.6%), from €253,995 to €303,822
of which Other amounts receivable: +€27,043
- Debts after one year +€611,845
up €611,845 (+104%), from €589,160 to €1.2m
- Other debts +€137,345
up €137,345 (+15.8%), from €868,011 to €1.0m
- Current portion of long-term debt +€49,927
up €49,927 (+57.9%), from €86,169 to €136,095
- Trade debts +€46,953
up €46,953 (+81.0%), from €57,968 to €104,921
- Other operating charges +€56,758
up €56,758 (+110%), from €51,514 to €108,272
- Gross operating margin -€45,114
down €45,114 (-17.7%), from €254,288 to €209,173
- Taxes -€34,708
down €34,708 (-94.0%), from €36,913 to €2,205
- Depreciation +€28,122
up €28,122 (+80.4%), from €34,980 to €63,103
- Financial income -€7,579
no longer reported in 2025 (was €7,579)
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.
Derived cash bridge
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 | €2,222,687 | €3,070,060 | +€847,372 | +38.1% |
| Fixed assets | 21/28 | €1,897,604 | €2,600,715 | +€703,111 | +37.1% |
| Tangible fixed assets | 22/27 | €437,604 | €1,140,715 | +€703,111 | +161% |
| Land and buildings | 22 | €437,604 | €1,140,715 | +€703,111 | +161% |
| Financial fixed assets | 28 | €1,460,000 | €1,460,000 | = | 0.0% |
| Current assets | 29/58 | €325,083 | €469,344 | +€144,261 | +44.4% |
| Amounts receivable within one year | 40/41 | €253,995 | €303,822 | +€49,827 | +19.6% |
| Trade receivables | 40 | €224,020 | €246,804 | +€22,784 | +10.2% |
| Other amounts receivable | 41 | €29,975 | €57,018 | +€27,043 | +90.2% |
| Cash at bank and in hand | 54/58 | €3,457 | €96,084 | +€92,627 | +2,679% |
| Deferred charges and accrued income | 490/1 | €67,631 | €69,438 | +€1,807 | +2.7% |
| Total equity and liabilities | 10/49 | €2,222,687 | €3,070,060 | +€847,372 | +38.1% |
| Equity | 10/15 | €573,488 | €580,102 | +€6,615 | +1.2% |
| Contributions | 10/11 | €68,100 | €68,100 | = | 0.0% |
| Reserves | 13 | €178,003 | €184,618 | +€6,615 | +3.7% |
| Non-distributable reserves | 130/1 | €6,810 | €6,810 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,810 | €6,810 | = | 0.0% |
| Distributable reserves | 133 | €171,193 | €177,808 | +€6,615 | +3.9% |
| Profit (loss) carried forward | 14 | €327,384 | €327,384 | = | 0.0% |
| Amounts payable | 17/49 | €1,649,199 | €2,489,957 | +€840,758 | +51.0% |
| Amounts payable after more than one year | 17 | €589,160 | €1,201,005 | +€611,845 | +104% |
| Financial debts | 170/4 | €589,160 | €1,201,005 | +€611,845 | +104% |
| Amounts payable within one year | 42/48 | €1,050,369 | €1,288,953 | +€238,584 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €86,169 | €136,095 | +€49,927 | +57.9% |
| Trade debts | 44 | €57,968 | €104,921 | +€46,953 | +81.0% |
| Suppliers | 440/4 | €57,968 | €104,921 | +€46,953 | +81.0% |
| Taxes, remuneration and social security | 45 | €38,221 | €42,580 | +€4,359 | +11.4% |
| Taxes | 450/3 | €38,221 | €42,580 | +€4,359 | +11.4% |
| Other amounts payable | 47/48 | €868,011 | €1,005,356 | +€137,345 | +15.8% |
| Accrued charges and deferred income | 492/3 | €9,671 | - | -€9,671 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,980 | €63,103 | +€28,122 | +80.4% |
| Other operating charges | 640/8 | €51,514 | €108,272 | +€56,758 | +110% |
| Gross operating margin | 9900 | €254,288 | €209,173 | -€45,114 | -17.7% |
| Operating profit (loss) | 9901 | €167,793 | €37,798 | -€129,994 | -77.5% |
| Financial income | 75/76B | €7,579 | - | -€7,579 | |
| Recurring financial income | 75 | €7,579 | - | -€7,579 | |
| Financial charges | 65/66B | €28,556 | €28,979 | +€423 | +1.5% |
| Recurring financial charges | 65 | €28,556 | €28,979 | +€423 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €146,816 | €8,820 | -€137,996 | -94.0% |
| Income taxes | 67/77 | €36,913 | €2,205 | -€34,708 | -94.0% |
| Profit (loss) for the period | 9904 | €109,903 | €6,615 | -€103,288 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,903 | €6,615 | -€103,288 | -94.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.