MANAGEMENT DE TURCK: 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.
MANAGEMENT DE TURCK
Largest movements
- Tangible fixed assets -€23,014
down €23,014 (-3.8%), from €607,634 to €584,620
- Debts after one year -€20,000
down €20,000 (-10.5%), from €191,000 to €171,000
- Tax, wage and social debts -€7,439
down €7,439 (-26.7%), from €27,866 to €20,427
- Gross operating margin +€4,025
up €4,025 (+4.6%), from €86,870 to €90,895
- Financial charges +€1,555
up €1,555 (+13.4%), from €11,592 to €13,148
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 | €628,131 | €602,275 | -€25,856 | -4.1% |
| Fixed assets | 21/28 | €607,634 | €584,620 | -€23,014 | -3.8% |
| Tangible fixed assets | 22/27 | €607,634 | €584,620 | -€23,014 | -3.8% |
| Land and buildings | 22 | €607,634 | €584,620 | -€23,014 | -3.8% |
| Current assets | 29/58 | €20,497 | €17,655 | -€2,842 | -13.9% |
| Amounts receivable within one year | 40/41 | - | €300 | +€300 | |
| Other amounts receivable | 41 | - | €300 | +€300 | |
| Cash at bank and in hand | 54/58 | €18,910 | €15,768 | -€3,142 | -16.6% |
| Deferred charges and accrued income | 490/1 | €1,587 | €1,587 | = | 0.0% |
| Total equity and liabilities | 10/49 | €628,131 | €602,275 | -€25,856 | -4.1% |
| Equity | 10/15 | €373,338 | €373,338 | = | 0.0% |
| Contributions | 10/11 | €308,600 | €308,600 | = | 0.0% |
| Contributions outside capital | 11 | - | €308,600 | +€308,600 | |
| Share premium | 1100/10 | - | €308,600 | +€308,600 | |
| Reserves | 13 | €6,204 | €6,204 | = | 0.0% |
| Distributable reserves | 133 | €6,204 | €6,204 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,534 | €58,534 | = | 0.0% |
| Amounts payable | 17/49 | €254,793 | €228,937 | -€25,856 | -10.1% |
| Amounts payable after more than one year | 17 | €191,000 | €171,000 | -€20,000 | -10.5% |
| Financial debts | 170/4 | €191,000 | €171,000 | -€20,000 | -10.5% |
| Amounts payable within one year | 42/48 | €63,793 | €57,937 | -€5,856 | -9.2% |
| Trade debts | 44 | €1,903 | €1,969 | +€66 | +3.5% |
| Suppliers | 440/4 | €1,903 | €1,969 | +€66 | +3.5% |
| Taxes, remuneration and social security | 45 | €27,866 | €20,427 | -€7,439 | -26.7% |
| Taxes | 450/3 | €27,866 | €20,427 | -€7,439 | -26.7% |
| Other amounts payable | 47/48 | €34,025 | €35,541 | +€1,517 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,014 | €23,014 | = | 0.0% |
| Other operating charges | 640/8 | €8,989 | €9,263 | +€274 | +3.0% |
| Gross operating margin | 9900 | €86,870 | €90,895 | +€4,025 | +4.6% |
| Operating profit (loss) | 9901 | €54,866 | €58,617 | +€3,751 | +6.8% |
| Financial charges | 65/66B | €11,592 | €13,148 | +€1,555 | +13.4% |
| Recurring financial charges | 65 | €11,592 | €13,148 | +€1,555 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | €43,274 | €45,469 | +€2,196 | +5.1% |
| Income taxes | 67/77 | €12,439 | €13,037 | +€598 | +4.8% |
| Profit (loss) for the period | 9904 | €30,835 | €32,432 | +€1,597 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,835 | €32,432 | +€1,597 | +5.2% |
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 31 October 2026 via checked.be.