HET TOVERBOS: 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.
HET TOVERBOS
Largest movements
- Deferred charges and accrued income +€22,305
up €22,305 (+71.6%), from €31,142 to €53,447
- Receivables within one year +€19,131
up €19,131 (+33.9%), from €56,386 to €75,517
of which Other amounts receivable: +€20,224
- Cash -€16,109
down €16,109 (-88.3%), from €18,236 to €2,127
mainly Trade debts (-€41,867) and Deferred charges and accrued income (-€22,305)
- Intangible fixed assets -€9,600
no longer reported in 2025 (was €9,600)
- Tangible fixed assets +€3,893
up €3,893 (+18.8%), from €20,705 to €24,598
of which Land and buildings: +€5,153
- Trade debts -€41,867
down €41,867 (-45.8%), from €91,333 to €49,467
- Short-term financial debts +€31,036
new in 2025: €31,036
- Profit (loss) carried forward +€20,474
up €20,474 (+39.4%), from -€52,003 to -€31,529
- Tax, wage and social debts +€10,828
up €10,828 (+13.6%), from €79,477 to €90,304
of which Remuneration and social security: +€10,828
- Staff costs +€25,088
up €25,088 (+5.5%), from €455,212 to €480,300
- Gross operating margin +€15,277
up €15,277 (+2.9%), from €532,650 to €547,927
- Other operating charges -€7,234
down €7,234 (-26.3%), from €27,465 to €20,231
- Financial charges +€5,702
up €5,702 (+58.6%), from €9,729 to €15,431
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 | €136,569 | €156,189 | +€19,620 | +14.4% |
| Fixed assets | 21/28 | €30,805 | €25,098 | -€5,707 | -18.5% |
| Intangible fixed assets | 21 | €9,600 | - | -€9,600 | |
| Tangible fixed assets | 22/27 | €20,705 | €24,598 | +€3,893 | +18.8% |
| Land and buildings | 22 | €16,335 | €21,487 | +€5,153 | +31.5% |
| Plant, machinery and equipment | 23 | €238 | - | -€238 | |
| Furniture and vehicles | 24 | €172 | €5 | -€167 | -97.1% |
| Other tangible fixed assets | 26 | €3,960 | €3,105 | -€855 | -21.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €105,765 | €131,092 | +€25,327 | +23.9% |
| Amounts receivable within one year | 40/41 | €56,386 | €75,517 | +€19,131 | +33.9% |
| Trade receivables | 40 | €10,080 | €8,987 | -€1,093 | -10.8% |
| Other amounts receivable | 41 | €46,306 | €66,530 | +€20,224 | +43.7% |
| Cash at bank and in hand | 54/58 | €18,236 | €2,127 | -€16,109 | -88.3% |
| Deferred charges and accrued income | 490/1 | €31,142 | €53,447 | +€22,305 | +71.6% |
| Total equity and liabilities | 10/49 | €136,569 | €156,189 | +€19,620 | +14.4% |
| Equity | 10/15 | -€43,943 | -€23,469 | +€20,474 | +46.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,003 | -€31,529 | +€20,474 | +39.4% |
| Amounts payable | 17/49 | €180,513 | €179,658 | -€854 | -0.5% |
| Amounts payable after more than one year | 17 | €9,702 | €8,852 | -€851 | -8.8% |
| Financial debts | 170/4 | €9,702 | €8,852 | -€851 | -8.8% |
| Amounts payable within one year | 42/48 | €170,810 | €170,807 | -€4 | 0.0% |
| Financial debts | 43 | - | €31,036 | +€31,036 | |
| Credit institutions | 430/8 | - | €31,036 | +€31,036 | |
| Trade debts | 44 | €91,333 | €49,467 | -€41,867 | -45.8% |
| Suppliers | 440/4 | €91,333 | €49,467 | -€41,867 | -45.8% |
| Taxes, remuneration and social security | 45 | €79,477 | €90,304 | +€10,828 | +13.6% |
| Taxes | 450/3 | €4,200 | €4,200 | = | 0.0% |
| Remuneration and social security | 454/9 | €75,276 | €86,104 | +€10,828 | +14.4% |
| Remuneration, social security and pensions | 62 | €455,212 | €480,300 | +€25,088 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,055 | €14,077 | +€1,021 | +7.8% |
| Other operating charges | 640/8 | €27,465 | €20,231 | -€7,234 | -26.3% |
| Gross operating margin | 9900 | €532,650 | €547,927 | +€15,277 | +2.9% |
| Operating profit (loss) | 9901 | €36,918 | €33,320 | -€3,598 | -9.7% |
| Financial income | 75/76B | €3,043 | €2,780 | -€263 | -8.6% |
| Recurring financial income | 75 | €3,043 | €2,780 | -€263 | -8.6% |
| Financial charges | 65/66B | €9,729 | €15,431 | +€5,702 | +58.6% |
| Recurring financial charges | 65 | €9,729 | €15,431 | +€5,702 | +58.6% |
| Profit (loss) for the period before taxes | 9903 | €30,232 | €20,669 | -€9,562 | -31.6% |
| Income taxes | 67/77 | €212 | €195 | -€16 | -7.8% |
| Profit (loss) for the period | 9904 | €30,020 | €20,474 | -€9,546 | -31.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,020 | €20,474 | -€9,546 | -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 24 October 2026 via checked.be.