TOBA: 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.
What changed
TOBA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€24,060
2024 · -€3,865-€20,195
Equity
€6.3m
2024 · €6.4m-€24,060
Cash
€167,231
2024 · €132,224+€35,007
Balance sheet total
€10.0m
2024 · €9.6m+€414,423
Largest movements
Assets
- Tangible fixed assets +€430,068
up €430,068 (+6,578%), from €6,538 to €436,606
of which Land and buildings: +€402,291
Equity and liabilities
- Debts after one year +€328,576
up €328,576 (+11.5%), from €2.9m to €3.2m
of which Financial debts: +€276,697
Income statement
- Depreciation +€20,655
up €20,655 (+246%), from €8,404 to €29,060
- Financial income +€3,571
up €3,571 (+5.4%), from €66,386 to €69,958
- Gross operating margin -€2,633
down €2,633 (-6.3%), from €41,792 to €39,160
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.
Result 2024
-€3,865
Gross operating margin
-€2,633
Depreciation
-€20,655
Other operating charges
+€50
Financial income
+€3,571
Financial charges
-€385
Taxes
-€144
Result 2025
-€24,060
raises the resultlowers the result
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.
From operations
+€149,876
Investment
-€459,128
Financing
+€344,259
Cash 2024
€132,224
From operations (derived)
+€149,876
Net result for the year
-€24,060
Depreciation
+€29,060
Receivables within one year
+€45,949
Deferred charges and accrued income
+€4,703
Trade debts
+€11,500
Tax, wage and social debts
+€139
Other debts
+€89,885
Accrued charges and deferred income
-€7,300
Investment (derived)
-€459,128
Investment in fixed assets (net)
-€459,128
Financing
+€344,259
Debts after one year
+€328,576
Current portion of long-term debt
+€15,683
Cash 2025
€167,231
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,565,748 | €9,980,171 | +€414,423 | +4.3% |
| Fixed assets | 21/28 | €8,771,555 | €9,201,623 | +€430,068 | +4.9% |
| Tangible fixed assets | 22/27 | €6,538 | €436,606 | +€430,068 | +6,578% |
| Land and buildings | 22 | €6,538 | €408,829 | +€402,291 | +6,153% |
| Furniture and vehicles | 24 | €0 | €27,778 | +€27,778 | |
| Financial fixed assets | 28 | €8,765,017 | €8,765,017 | = | 0.0% |
| Current assets | 29/58 | €794,193 | €778,548 | -€15,645 | -2.0% |
| Amounts receivable within one year | 40/41 | €158,810 | €112,861 | -€45,949 | -28.9% |
| Other amounts receivable | 41 | €158,810 | €112,861 | -€45,949 | -28.9% |
| Current investments | 50/53 | €495,410 | €495,410 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €132,224 | €167,231 | +€35,007 | +26.5% |
| Deferred charges and accrued income | 490/1 | €7,750 | €3,047 | -€4,703 | -60.7% |
| Total equity and liabilities | 10/49 | €9,565,748 | €9,980,171 | +€414,423 | +4.3% |
| Equity | 10/15 | €6,352,924 | €6,328,864 | -€24,060 | -0.4% |
| Contributions | 10/11 | €3,285,000 | €3,285,000 | = | 0.0% |
| Reserves | 13 | €3,067,924 | €3,043,864 | -€24,060 | -0.8% |
| Non-distributable reserves | 130/1 | €328,500 | €328,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €328,500 | €328,500 | = | 0.0% |
| Distributable reserves | 133 | €2,739,424 | €2,715,364 | -€24,060 | -0.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,212,824 | €3,651,307 | +€438,483 | +13.6% |
| Amounts payable after more than one year | 17 | €2,863,992 | €3,192,568 | +€328,576 | +11.5% |
| Financial debts | 170/4 | - | €276,697 | +€276,697 | |
| Other amounts payable | 178/9 | €2,863,992 | €2,915,870 | +€51,879 | +1.8% |
| Amounts payable within one year | 42/48 | €253,252 | €370,459 | +€117,207 | +46.3% |
| Current portion of amounts payable after more than one year | 42 | - | €15,683 | +€15,683 | |
| Trade debts | 44 | €2,380 | €13,880 | +€11,500 | +483% |
| Suppliers | 440/4 | €2,380 | €13,880 | +€11,500 | +483% |
| Taxes, remuneration and social security | 45 | €68 | €207 | +€139 | +205% |
| Taxes | 450/3 | €68 | €207 | +€139 | +205% |
| Other amounts payable | 47/48 | €250,804 | €340,688 | +€89,885 | +35.8% |
| Accrued charges and deferred income | 492/3 | €95,580 | €88,280 | -€7,300 | -7.6% |
| Non-recurring operating income | 76A | - | €9,091 | +€9,091 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,404 | €29,060 | +€20,655 | +246% |
| Other operating charges | 640/8 | €1,183 | €1,132 | -€50 | -4.2% |
| Gross operating margin | 9900 | €41,792 | €39,160 | -€2,633 | -6.3% |
| Operating profit (loss) | 9901 | €32,206 | €8,968 | -€23,238 | -72.2% |
| Financial income | 75/76B | €66,386 | €69,958 | +€3,571 | +5.4% |
| Recurring financial income | 75 | €66,386 | €69,958 | +€3,571 | +5.4% |
| Financial charges | 65/66B | €102,389 | €102,773 | +€385 | +0.4% |
| Recurring financial charges | 65 | €102,389 | €102,773 | +€385 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,797 | -€23,848 | -€20,051 | -528% |
| Income taxes | 67/77 | €68 | €212 | +€144 | +212% |
| Profit (loss) for the period | 9904 | -€3,865 | -€24,060 | -€20,195 | -523% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,865 | -€24,060 | -€20,195 | -523% |
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.