TOBEAS: 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.
TOBEAS
Largest movements
- Current investments +€93,906
up €93,906 (+76.2%), from €123,225 to €217,131
- Receivables within one year -€80,786
down €80,786 (-44.2%), from €182,663 to €101,876
of which Trade receivables: -€76,603
- Intangible fixed assets -€43,257
down €43,257 (-35.9%), from €120,362 to €77,105
- Tangible fixed assets -€20,818
down €20,818 (-16.5%), from €125,906 to €105,088
of which Leasing and similar rights: -€20,515
- Trade debts -€33,602
down €33,602 (-81.6%), from €41,202 to €7,600
- Reserves +€31,500
up €31,500 (+12.0%), from €262,526 to €294,027
- Debts after one year -€20,241
down €20,241 (-43.3%), from €46,708 to €26,466
- Short-term financial debts -€17,317
down €17,317 (-77.1%), from €22,456 to €5,139
of which Credit institutions: -€17,297
- Tax, wage and social debts -€10,810
down €10,810 (-50.2%), from €21,534 to €10,724
of which Remuneration and social security: -€6,081
- Financial charges -€26,511
down €26,511 (-67.6%), from €39,244 to €12,733
- Financial income +€24,435
up €24,435 (+2726.3%), from €896 to €25,331
- Gross operating margin -€7,956
down €7,956 (-5.3%), from €151,185 to €143,230
- Staff costs -€6,367
down €6,367 (-14.3%), from €44,482 to €38,115
- Taxes +€4,728
up €4,728 (+147.4%), from €3,207 to €7,935
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.
Cash bridge derived
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 | €564,527 | €512,593 | -€51,934 | -9.2% |
| Fixed assets | 21/28 | €246,437 | €182,362 | -€64,075 | -26.0% |
| Intangible fixed assets | 21 | €120,362 | €77,105 | -€43,257 | -35.9% |
| Tangible fixed assets | 22/27 | €125,906 | €105,088 | -€20,818 | -16.5% |
| Land and buildings | 22 | €42,196 | €36,295 | -€5,901 | -14.0% |
| Plant, machinery and equipment | 23 | €3,329 | €1,756 | -€1,573 | -47.3% |
| Furniture and vehicles | 24 | €4,300 | €2,518 | -€1,782 | -41.4% |
| Leasing and similar rights | 25 | €76,081 | €55,565 | -€20,515 | -27.0% |
| Other tangible fixed assets | 26 | €0 | €8,953 | +€8,953 | |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €318,089 | €330,231 | +€12,141 | +3.8% |
| Amounts receivable within one year | 40/41 | €182,663 | €101,876 | -€80,786 | -44.2% |
| Trade receivables | 40 | €167,762 | €91,160 | -€76,603 | -45.7% |
| Other amounts receivable | 41 | €14,900 | €10,716 | -€4,184 | -28.1% |
| Current investments | 50/53 | €123,225 | €217,131 | +€93,906 | +76.2% |
| Cash at bank and in hand | 54/58 | €5,787 | €7,095 | +€1,308 | +22.6% |
| Deferred charges and accrued income | 490/1 | €6,414 | €4,128 | -€2,286 | -35.6% |
| Total equity and liabilities | 10/49 | €564,527 | €512,593 | -€51,934 | -9.2% |
| Equity | 10/15 | €281,126 | €312,627 | +€31,500 | +11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €262,526 | €294,027 | +€31,500 | +12.0% |
| Distributable reserves | 133 | €262,526 | €294,027 | +€31,500 | +12.0% |
| Amounts payable | 17/49 | €283,400 | €199,966 | -€83,434 | -29.4% |
| Amounts payable after more than one year | 17 | €46,708 | €26,466 | -€20,241 | -43.3% |
| Financial debts | 170/4 | €46,708 | €26,466 | -€20,241 | -43.3% |
| Amounts payable within one year | 42/48 | €222,947 | €151,903 | -€71,044 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €24,160 | €20,241 | -€3,919 | -16.2% |
| Financial debts | 43 | €22,456 | €5,139 | -€17,317 | -77.1% |
| Credit institutions | 430/8 | €17,386 | €89 | -€17,297 | -99.5% |
| Other loans | 439 | €5,070 | €5,049 | -€21 | -0.4% |
| Trade debts | 44 | €41,202 | €7,600 | -€33,602 | -81.6% |
| Suppliers | 440/4 | €41,202 | €7,600 | -€33,602 | -81.6% |
| Taxes, remuneration and social security | 45 | €21,534 | €10,724 | -€10,810 | -50.2% |
| Taxes | 450/3 | €12,901 | €8,172 | -€4,729 | -36.7% |
| Remuneration and social security | 454/9 | €8,633 | €2,552 | -€6,081 | -70.4% |
| Other amounts payable | 47/48 | €113,595 | €108,199 | -€5,396 | -4.8% |
| Accrued charges and deferred income | 492/3 | €13,746 | €21,597 | +€7,851 | +57.1% |
| Non-recurring operating income | 76A | €8,905 | €500 | -€8,405 | -94.4% |
| Remuneration, social security and pensions | 62 | €44,482 | €38,115 | -€6,367 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,509 | €73,131 | -€378 | -0.5% |
| Other operating charges | 640/8 | €5,205 | €5,147 | -€58 | -1.1% |
| Gross operating margin | 9900 | €151,185 | €143,230 | -€7,956 | -5.3% |
| Operating profit (loss) | 9901 | €27,990 | €26,837 | -€1,153 | -4.1% |
| Financial income | 75/76B | €896 | €25,331 | +€24,435 | +2726.3% |
| Recurring financial income | 75 | €896 | €25,331 | +€24,435 | +2726.3% |
| Financial charges | 65/66B | €39,244 | €12,733 | -€26,511 | -67.6% |
| Recurring financial charges | 65 | €39,244 | €12,733 | -€26,511 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | -€10,358 | €39,435 | +€49,793 | |
| Income taxes | 67/77 | €3,207 | €7,935 | +€4,728 | +147.4% |
| Profit (loss) for the period | 9904 | -€13,565 | €31,500 | +€45,065 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,565 | €31,500 | +€45,065 |
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 10 October 2026 via checked.be.