Jonathan TORO, Avocat: 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.
Jonathan TORO, Avocat
Largest movements
- Current investments +€9,922
up €9,922 (+89.6%), from €11,076 to €20,998
- Deferred charges and accrued income -€2,702
no longer reported in 2025 (was €2,702)
- Receivables within one year +€2,699
up €2,699 (+36.5%), from €7,394 to €10,093
of which Trade receivables: +€3,574
- Cash -€1,548
down €1,548 (-2.1%), from €73,672 to €72,125
mainly Debts after one year (-€10,058) and Current investments (-€9,922)
- Reserves +€18,000
up €18,000 (+150%), from €12,000 to €30,000
- Debts after one year -€10,058
down €10,058 (-33.7%), from €29,827 to €19,769
- Trade debts -€4,112
down €4,112 (-47.8%), from €8,609 to €4,496
- Tax, wage and social debts +€2,530
up €2,530 (+23.7%), from €10,678 to €13,207
- Other debts +€1,853
up €1,853 (+50.8%), from €3,644 to €5,497
- Gross operating margin +€19,275
up €19,275 (+213%), from €9,067 to €28,343
- Taxes +€4,335
up €4,335 (+304%), from €1,425 to €5,760
- Depreciation -€1,193
down €1,193 (-62.7%), from €1,903 to €710
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 | €96,264 | €103,925 | +€7,661 | +8.0% |
| Fixed assets | 21/28 | €1,420 | €710 | -€710 | -50.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,420 | €710 | -€710 | -50.0% |
| Furniture and vehicles | 24 | €1,420 | €710 | -€710 | -50.0% |
| Current assets | 29/58 | €94,844 | €103,215 | +€8,371 | +8.8% |
| Amounts receivable within one year | 40/41 | €7,394 | €10,093 | +€2,699 | +36.5% |
| Trade receivables | 40 | €549 | €4,123 | +€3,574 | +651% |
| Other amounts receivable | 41 | €6,845 | €5,970 | -€875 | -12.8% |
| Current investments | 50/53 | €11,076 | €20,998 | +€9,922 | +89.6% |
| Cash at bank and in hand | 54/58 | €73,672 | €72,125 | -€1,548 | -2.1% |
| Deferred charges and accrued income | 490/1 | €2,702 | - | -€2,702 | |
| Total equity and liabilities | 10/49 | €96,264 | €103,925 | +€7,661 | +8.0% |
| Equity | 10/15 | €33,930 | €50,898 | +€16,968 | +50.0% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €12,000 | €30,000 | +€18,000 | +150% |
| Distributable reserves | 133 | €12,000 | €30,000 | +€18,000 | +150% |
| Profit (loss) carried forward | 14 | €1,470 | €438 | -€1,032 | -70.2% |
| Amounts payable | 17/49 | €62,335 | €53,028 | -€9,307 | -14.9% |
| Amounts payable after more than one year | 17 | €29,827 | €19,769 | -€10,058 | -33.7% |
| Financial debts | 170/4 | €29,827 | €19,769 | -€10,058 | -33.7% |
| Amounts payable within one year | 42/48 | €32,508 | €33,259 | +€751 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €9,577 | €10,058 | +€481 | +5.0% |
| Trade debts | 44 | €8,609 | €4,496 | -€4,112 | -47.8% |
| Suppliers | 440/4 | €8,609 | €4,496 | -€4,112 | -47.8% |
| Taxes, remuneration and social security | 45 | €10,678 | €13,207 | +€2,530 | +23.7% |
| Taxes | 450/3 | €10,678 | €13,207 | +€2,530 | +23.7% |
| Other amounts payable | 47/48 | €3,644 | €5,497 | +€1,853 | +50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,903 | €710 | -€1,193 | -62.7% |
| Other operating charges | 640/8 | €500 | €679 | +€178 | +35.6% |
| Gross operating margin | 9900 | €9,067 | €28,343 | +€19,275 | +213% |
| Operating profit (loss) | 9901 | €6,664 | €26,954 | +€20,290 | +304% |
| Financial income | 75/76B | €473 | €368 | -€105 | -22.1% |
| Recurring financial income | 75 | €473 | €368 | -€105 | -22.1% |
| Financial charges | 65/66B | €4,756 | €4,594 | -€162 | -3.4% |
| Recurring financial charges | 65 | €4,756 | €4,594 | -€162 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €2,381 | €22,729 | +€20,348 | +855% |
| Income taxes | 67/77 | €1,425 | €5,760 | +€4,335 | +304% |
| Profit (loss) for the period | 9904 | €956 | €16,968 | +€16,013 | +1,676% |
| Profit (loss) for the period to be appropriated | 9905 | €956 | €16,968 | +€16,013 | +1,676% |
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.