T&O GROUP: 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.
T&O GROUP
Largest movements
- Receivables within one year +€49,851
up €49,851 (+230%), from €21,648 to €71,499
of which Trade receivables: +€36,342
- Cash +€13,099
up €13,099 (+136%), from €9,629 to €22,728
mainly Tax, wage and social debts (+€40,840) and Net result for the year (+€37,239)
- Stocks and contracts +€6,485
up €6,485 (+10.4%), from €62,590 to €69,074
- Intangible fixed assets -€4,050
down €4,050 (-14.5%), from €27,848 to €23,798
- Tax, wage and social debts +€40,840
new in 2025: €40,840
of which Remuneration and social security: +€26,379
- Profit (loss) carried forward +€37,239
up €37,239 (+65.9%), from €56,544 to €93,783
- Trade debts -€11,328
down €11,328 (-57.9%), from €19,571 to €8,242
of which Suppliers: -€6,176
- Gross operating margin +€174,532
up €174,532 (+526%), from €33,211 to €207,744
- Staff costs +€144,013
up €144,013 (+4,354%), from €3,307 to €147,321
- Financial charges +€5,072
new in 2025: €5,072
- Taxes +€4,158
up €4,158 (+80.7%), from €5,152 to €9,310
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 | €121,715 | €188,465 | +€66,751 | +54.8% |
| Fixed assets | 21/28 | €27,848 | €25,164 | -€2,684 | -9.6% |
| Intangible fixed assets | 21 | €27,848 | €23,798 | -€4,050 | -14.5% |
| Tangible fixed assets | 22/27 | - | €1,366 | +€1,366 | |
| Furniture and vehicles | 24 | - | €1,366 | +€1,366 | |
| Current assets | 29/58 | €93,867 | €163,301 | +€69,435 | +74.0% |
| Stocks and contracts in progress | 3 | €62,590 | €69,074 | +€6,485 | +10.4% |
| Stocks | 30/36 | €62,590 | €69,074 | +€6,485 | +10.4% |
| Amounts receivable within one year | 40/41 | €21,648 | €71,499 | +€49,851 | +230% |
| Trade receivables | 40 | - | €36,342 | +€36,342 | |
| Other amounts receivable | 41 | €21,648 | €35,157 | +€13,509 | +62.4% |
| Cash at bank and in hand | 54/58 | €9,629 | €22,728 | +€13,099 | +136% |
| Total equity and liabilities | 10/49 | €121,715 | €188,465 | +€66,751 | +54.8% |
| Equity | 10/15 | €102,144 | €139,383 | +€37,239 | +36.5% |
| Contributions | 10/11 | €45,600 | €45,600 | = | 0.0% |
| Capital | 10 | €45,600 | €45,600 | = | 0.0% |
| Issued capital | 100 | €45,600 | €45,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,544 | €93,783 | +€37,239 | +65.9% |
| Amounts payable | 17/49 | €19,571 | €49,083 | +€29,512 | +151% |
| Amounts payable within one year | 42/48 | €19,571 | €49,083 | +€29,512 | +151% |
| Trade debts | 44 | €19,571 | €8,242 | -€11,328 | -57.9% |
| Suppliers | 440/4 | €14,419 | €8,242 | -€6,176 | -42.8% |
| Bills of exchange payable | 441 | €5,152 | - | -€5,152 | |
| Taxes, remuneration and social security | 45 | - | €40,840 | +€40,840 | |
| Taxes | 450/3 | - | €14,462 | +€14,462 | |
| Remuneration and social security | 454/9 | - | €26,379 | +€26,379 | |
| Remuneration, social security and pensions | 62 | €3,307 | €147,321 | +€144,013 | +4,354% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,216 | €4,442 | +€226 | +5.4% |
| Other operating charges | 640/8 | €5,080 | €5,084 | +€4 | +0.1% |
| Gross operating margin | 9900 | €33,211 | €207,744 | +€174,532 | +526% |
| Operating profit (loss) | 9901 | €20,608 | €50,896 | +€30,289 | +147% |
| Financial income | 75/76B | - | €725 | +€725 | |
| Recurring financial income | 75 | - | €725 | +€725 | |
| Financial charges | 65/66B | - | €5,072 | +€5,072 | |
| Recurring financial charges | 65 | - | €5,072 | +€5,072 | |
| Profit (loss) for the period before taxes | 9903 | €20,608 | €46,549 | +€25,941 | +126% |
| Income taxes | 67/77 | €5,152 | €9,310 | +€4,158 | +80.7% |
| Profit (loss) for the period | 9904 | €15,456 | €37,239 | +€21,783 | +141% |
| Profit (loss) for the period to be appropriated | 9905 | €15,456 | €37,239 | +€21,783 | +141% |
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.