FORMATION TORTUE: 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.
FORMATION TORTUE
Largest movements
- Cash +€27,629
up €27,629 (+43.8%), from €63,017 to €90,646
mainly Net result for the year (+€36,462) and Trade debts (+€2,436)
- Receivables within one year +€8,391
up €8,391 (+93.7%), from €8,955 to €17,346
of which Trade receivables: +€8,313
- Reserves +€36,462
up €36,462 (+68.2%), from €53,467 to €89,929
- Tax, wage and social debts -€3,399
down €3,399 (-19.8%), from €17,132 to €13,733
- Trade debts +€2,436
up €2,436 (+207%), from €1,175 to €3,611
- Gross operating margin -€21,043
down €21,043 (-31.1%), from €67,692 to €46,648
- Taxes -€4,152
down €4,152 (-30.3%), from €13,691 to €9,539
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 | €73,286 | €109,318 | +€36,032 | +49.2% |
| Fixed assets | 21/28 | €1,314 | €1,180 | -€134 | -10.2% |
| Tangible fixed assets | 22/27 | €1,314 | €1,180 | -€134 | -10.2% |
| Furniture and vehicles | 24 | - | €1,180 | +€1,180 | |
| Other tangible fixed assets | 26 | €1,314 | €0 | -€1,314 | -100% |
| Current assets | 29/58 | €71,972 | €108,138 | +€36,166 | +50.3% |
| Amounts receivable within one year | 40/41 | €8,955 | €17,346 | +€8,391 | +93.7% |
| Trade receivables | 40 | €8,955 | €17,268 | +€8,313 | +92.8% |
| Other amounts receivable | 41 | - | €78 | +€78 | |
| Cash at bank and in hand | 54/58 | €63,017 | €90,646 | +€27,629 | +43.8% |
| Deferred charges and accrued income | 490/1 | - | €146 | +€146 | |
| Total equity and liabilities | 10/49 | €73,286 | €109,318 | +€36,032 | +49.2% |
| Equity | 10/15 | €54,967 | €91,429 | +€36,462 | +66.3% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €53,467 | €89,929 | +€36,462 | +68.2% |
| Distributable reserves | 133 | €53,467 | €89,929 | +€36,462 | +68.2% |
| Profit (loss) carried forward | 14 | - | €0 | +€0 | |
| Amounts payable | 17/49 | €18,319 | €17,889 | -€430 | -2.3% |
| Amounts payable within one year | 42/48 | €18,319 | €17,889 | -€430 | -2.3% |
| Trade debts | 44 | €1,175 | €3,611 | +€2,436 | +207% |
| Suppliers | 440/4 | €1,175 | €3,611 | +€2,436 | +207% |
| Taxes, remuneration and social security | 45 | €17,132 | €13,733 | -€3,399 | -19.8% |
| Taxes | 450/3 | €17,132 | €13,733 | -€3,399 | -19.8% |
| Other amounts payable | 47/48 | €12 | €545 | +€533 | +4,505% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26 | €134 | +€108 | +423% |
| Other operating charges | 640/8 | €451 | €389 | -€62 | -13.7% |
| Gross operating margin | 9900 | €67,692 | €46,648 | -€21,043 | -31.1% |
| Operating profit (loss) | 9901 | €67,215 | €46,125 | -€21,090 | -31.4% |
| Financial income | 75/76B | €3 | €81 | +€78 | +2,475% |
| Recurring financial income | 75 | €3 | €81 | +€78 | +2,475% |
| Financial charges | 65/66B | €60 | €205 | +€145 | +241% |
| Recurring financial charges | 65 | €60 | €205 | +€145 | +241% |
| Profit (loss) for the period before taxes | 9903 | €67,158 | €46,001 | -€21,157 | -31.5% |
| Income taxes | 67/77 | €13,691 | €9,539 | -€4,152 | -30.3% |
| Profit (loss) for the period | 9904 | €53,467 | €36,462 | -€17,005 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,467 | €36,462 | -€17,005 | -31.8% |
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 23 October 2026 via checked.be.