NICO TORFS: 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.
NICO TORFS
Largest movements
- Cash -€16,247
down €16,247 (-32.0%), from €50,770 to €34,524
mainly Contributions, distributions and other (-€21,379) and Stocks and contracts (-€9,225)
- Receivables within one year -€10,100
down €10,100 (-89.6%), from €11,273 to €1,173
of which Trade receivables: -€8,065
- Stocks and contracts +€9,225
up €9,225 (+92.5%), from €9,975 to €19,200
- Deferred charges and accrued income +€1,042
new in 2025: €1,042
- Tangible fixed assets -€938
down €938 (-100%), from €938 to €0
of which Furniture and vehicles: -€938
- Contributions -€12,499
down €12,499 (-100.0%), from €12,500 to €1
- Reserves -€3,565
down €3,565 (-6.6%), from €54,341 to €50,776
- Tax, wage and social debts +€1,351
up €1,351, from €0 to €1,351
- Other debts -€1,274
down €1,274 (-59.3%), from €2,147 to €873
- Trade debts -€1,031
down €1,031 (-26.0%), from €3,968 to €2,937
- Gross operating margin -€34,534
down €34,534 (-77.5%), from €44,560 to €10,026
- Taxes -€8,737
down €8,737 (-75.4%), from €11,588 to €2,851
- Other operating charges -€3,495
down €3,495 (-82.1%), from €4,258 to €763
- Depreciation +€550
up €550 (+142%), from €387 to €938
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 | €72,956 | €55,938 | -€17,018 | -23.3% |
| Fixed assets | 21/28 | €938 | €0 | -€938 | -100% |
| Tangible fixed assets | 22/27 | €938 | €0 | -€938 | -100% |
| Furniture and vehicles | 24 | €938 | €0 | -€938 | -100% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €72,018 | €55,938 | -€16,080 | -22.3% |
| Stocks and contracts in progress | 3 | €9,975 | €19,200 | +€9,225 | +92.5% |
| Contracts in progress | 37 | €9,975 | €19,200 | +€9,225 | +92.5% |
| Amounts receivable within one year | 40/41 | €11,273 | €1,173 | -€10,100 | -89.6% |
| Trade receivables | 40 | €8,065 | €0 | -€8,065 | -100% |
| Other amounts receivable | 41 | €3,207 | €1,173 | -€2,035 | -63.4% |
| Cash at bank and in hand | 54/58 | €50,770 | €34,524 | -€16,247 | -32.0% |
| Deferred charges and accrued income | 490/1 | - | €1,042 | +€1,042 | |
| Total equity and liabilities | 10/49 | €72,956 | €55,938 | -€17,018 | -23.3% |
| Equity | 10/15 | €66,841 | €50,777 | -€16,064 | -24.0% |
| Contributions | 10/11 | €12,500 | €1 | -€12,499 | -100.0% |
| Reserves | 13 | €54,341 | €50,776 | -€3,565 | -6.6% |
| Distributable reserves | 133 | €54,341 | €50,776 | -€3,565 | -6.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,115 | €5,161 | -€954 | -15.6% |
| Amounts payable within one year | 42/48 | €6,115 | €5,161 | -€954 | -15.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €3,968 | €2,937 | -€1,031 | -26.0% |
| Suppliers | 440/4 | €3,968 | €2,937 | -€1,031 | -26.0% |
| Taxes, remuneration and social security | 45 | €0 | €1,351 | +€1,351 | |
| Taxes | 450/3 | €0 | €1,351 | +€1,351 | |
| Other amounts payable | 47/48 | €2,147 | €873 | -€1,274 | -59.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387 | €938 | +€550 | +142% |
| Other operating charges | 640/8 | €4,258 | €763 | -€3,495 | -82.1% |
| Gross operating margin | 9900 | €44,560 | €10,026 | -€34,534 | -77.5% |
| Operating profit (loss) | 9901 | €39,914 | €8,325 | -€31,589 | -79.1% |
| Financial income | 75/76B | €8 | €10 | +€3 | +35.4% |
| Recurring financial income | 75 | €8 | €10 | +€3 | +35.4% |
| Financial charges | 65/66B | €371 | €170 | -€201 | -54.3% |
| Recurring financial charges | 65 | €371 | €170 | -€201 | -54.3% |
| Profit (loss) for the period before taxes | 9903 | €39,550 | €8,165 | -€31,385 | -79.4% |
| Income taxes | 67/77 | €11,588 | €2,851 | -€8,737 | -75.4% |
| Profit (loss) for the period | 9904 | €27,963 | €5,315 | -€22,648 | -81.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,963 | €5,315 | -€22,648 | -81.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.