TOAPE: 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.
TOAPE
Largest movements
- Cash +€42,400
up €42,400 (+162%), from €26,215 to €68,615
mainly Net result for the year (+€66,793) and Tax, wage and social debts (+€5,872)
- Receivables within one year +€24,937
up €24,937 (+35.8%), from €69,720 to €94,657
of which Trade receivables: +€12,737
- Tangible fixed assets -€4,488
down €4,488 (-39.3%), from €11,428 to €6,940
of which Furniture and vehicles: -€4,061
- Reserves +€63,357
up €63,357 (+105%), from €60,294 to €123,652
- Tax, wage and social debts +€5,872
up €5,872 (+16.8%), from €35,018 to €40,891
- Other debts -€4,220
down €4,220 (-96.2%), from €4,389 to €169
- Trade debts -€2,353
down €2,353 (-40.2%), from €5,854 to €3,501
- Gross operating margin +€10,495
up €10,495 (+10.6%), from €98,577 to €109,072
- Taxes +€4,079
up €4,079 (+15.6%), from €26,070 to €30,149
- Other operating charges -€1,480
down €1,480 (-36.2%), from €4,086 to €2,606
- Financial charges +€1,221
up €1,221 (+25.3%), from €4,818 to €6,038
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 | €107,556 | €170,212 | +€62,657 | +58.3% |
| Fixed assets | 21/28 | €11,428 | €6,940 | -€4,488 | -39.3% |
| Tangible fixed assets | 22/27 | €11,428 | €6,940 | -€4,488 | -39.3% |
| Plant, machinery and equipment | 23 | €1,852 | €1,426 | -€427 | -23.0% |
| Furniture and vehicles | 24 | €9,576 | €5,515 | -€4,061 | -42.4% |
| Current assets | 29/58 | €96,128 | €163,272 | +€67,144 | +69.8% |
| Amounts receivable within one year | 40/41 | €69,720 | €94,657 | +€24,937 | +35.8% |
| Trade receivables | 40 | €28,786 | €41,523 | +€12,737 | +44.2% |
| Other amounts receivable | 41 | €40,934 | €53,134 | +€12,201 | +29.8% |
| Cash at bank and in hand | 54/58 | €26,215 | €68,615 | +€42,400 | +162% |
| Deferred charges and accrued income | 490/1 | €193 | - | -€193 | |
| Total equity and liabilities | 10/49 | €107,556 | €170,212 | +€62,657 | +58.3% |
| Equity | 10/15 | €62,294 | €125,652 | +€63,357 | +102% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €60,294 | €123,652 | +€63,357 | +105% |
| Distributable reserves | 133 | €60,294 | €123,652 | +€63,357 | +105% |
| Amounts payable | 17/49 | €45,261 | €44,561 | -€701 | -1.5% |
| Amounts payable within one year | 42/48 | €45,261 | €44,561 | -€701 | -1.5% |
| Trade debts | 44 | €5,854 | €3,501 | -€2,353 | -40.2% |
| Suppliers | 440/4 | €5,854 | €3,501 | -€2,353 | -40.2% |
| Taxes, remuneration and social security | 45 | €35,018 | €40,891 | +€5,872 | +16.8% |
| Taxes | 450/3 | €35,018 | €40,891 | +€5,872 | +16.8% |
| Other amounts payable | 47/48 | €4,389 | €169 | -€4,220 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,308 | €3,715 | +€407 | +12.3% |
| Other operating charges | 640/8 | €4,086 | €2,606 | -€1,480 | -36.2% |
| Gross operating margin | 9900 | €98,577 | €109,072 | +€10,495 | +10.6% |
| Operating profit (loss) | 9901 | €91,182 | €102,750 | +€11,568 | +12.7% |
| Financial income | 75/76B | - | €231 | +€231 | |
| Recurring financial income | 75 | - | €231 | +€231 | |
| Financial charges | 65/66B | €4,818 | €6,038 | +€1,221 | +25.3% |
| Recurring financial charges | 65 | €4,818 | €6,038 | +€1,221 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €86,365 | €96,943 | +€10,578 | +12.2% |
| Income taxes | 67/77 | €26,070 | €30,149 | +€4,079 | +15.6% |
| Profit (loss) for the period | 9904 | €60,294 | €66,793 | +€6,499 | +10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,294 | €66,793 | +€6,499 | +10.8% |
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 17 October 2026 via checked.be.