TOBY INVEST: 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.
TOBY INVEST
Largest movements
- Receivables within one year +€314,084
up €314,084 (+259%), from €121,399 to €435,483
of which Other amounts receivable: +€313,736
- Financial fixed assets +€280,000
up €280,000 (+85.5%), from €327,612 to €607,612
- Tangible fixed assets -€127,983
down €127,983 (-5.8%), from €2.2m to €2.1m
- Other debts +€303,289
up €303,289 (+41,983%), from €722 to €304,011
- Current portion of long-term debt +€90,768
up €90,768 (+56.0%), from €162,000 to €252,768
- Trade debts +€66,758
up €66,758 (+25,738%), from €259 to €67,017
- Profit (loss) carried forward +€48,930
up €48,930, from -€37,174 to €11,756
- Reserves -€36,481
down €36,481 (-7.3%), from €502,401 to €465,920
- Depreciation -€71,801
down €71,801 (-35.9%), from €199,785 to €127,983
- Financial charges +€26,947
up €26,947 (+45.7%), from €58,949 to €85,896
- Gross operating margin -€11,869
down €11,869 (-4.1%), from €292,222 to €280,353
- Other operating charges +€9,037
up €9,037 (+21.0%), from €43,106 to €52,143
- Taxes +€6,211
new in 2025: €6,211
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 | €2,676,877 | €3,170,790 | +€493,913 | +18.5% |
| Fixed assets | 21/28 | €2,528,516 | €2,680,533 | +€152,017 | +6.0% |
| Tangible fixed assets | 22/27 | €2,200,905 | €2,072,921 | -€127,983 | -5.8% |
| Land and buildings | 22 | €2,200,905 | €2,072,921 | -€127,983 | -5.8% |
| Financial fixed assets | 28 | €327,612 | €607,612 | +€280,000 | +85.5% |
| Current assets | 29/58 | €148,361 | €490,257 | +€341,896 | +230% |
| Amounts receivable within one year | 40/41 | €121,399 | €435,483 | +€314,084 | +259% |
| Trade receivables | 40 | €62,947 | €63,294 | +€348 | +0.6% |
| Other amounts receivable | 41 | €58,453 | €372,189 | +€313,736 | +537% |
| Cash at bank and in hand | 54/58 | €26,962 | €54,774 | +€27,812 | +103% |
| Total equity and liabilities | 10/49 | €2,676,877 | €3,170,790 | +€493,913 | +18.5% |
| Equity | 10/15 | €527,204 | €539,653 | +€12,449 | +2.4% |
| Contributions | 10/11 | €61,977 | €61,977 | = | 0.0% |
| Reserves | 13 | €502,401 | €465,920 | -€36,481 | -7.3% |
| Tax-exempt reserves | 132 | €502,401 | €465,920 | -€36,481 | -7.3% |
| Profit (loss) carried forward | 14 | -€37,174 | €11,756 | +€48,930 | |
| Amounts payable | 17/49 | €2,149,674 | €2,631,137 | +€481,464 | +22.4% |
| Amounts payable after more than one year | 17 | €1,986,692 | €2,001,130 | +€14,438 | +0.7% |
| Financial debts | 170/4 | €1,956,000 | €1,852,438 | -€103,562 | -5.3% |
| Other amounts payable | 178/9 | €30,692 | €148,692 | +€118,000 | +384% |
| Amounts payable within one year | 42/48 | €162,982 | €630,008 | +€467,026 | +287% |
| Current portion of amounts payable after more than one year | 42 | €162,000 | €252,768 | +€90,768 | +56.0% |
| Trade debts | 44 | €259 | €67,017 | +€66,758 | +25,738% |
| Suppliers | 440/4 | €259 | €67,017 | +€66,758 | +25,738% |
| Taxes, remuneration and social security | 45 | - | €6,211 | +€6,211 | |
| Taxes | 450/3 | - | €6,211 | +€6,211 | |
| Other amounts payable | 47/48 | €722 | €304,011 | +€303,289 | +41,983% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,785 | €127,983 | -€71,801 | -35.9% |
| Other operating charges | 640/8 | €43,106 | €52,143 | +€9,037 | +21.0% |
| Gross operating margin | 9900 | €292,222 | €280,353 | -€11,869 | -4.1% |
| Operating profit (loss) | 9901 | €49,332 | €100,227 | +€50,895 | +103% |
| Financial income | 75/76B | €4,506 | €4,329 | -€177 | -3.9% |
| Recurring financial income | 75 | €4,506 | €4,329 | -€177 | -3.9% |
| Financial charges | 65/66B | €58,949 | €85,896 | +€26,947 | +45.7% |
| Recurring financial charges | 65 | €58,949 | €85,896 | +€26,947 | +45.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,111 | €18,660 | +€23,771 | |
| Income taxes | 67/77 | - | €6,211 | +€6,211 | |
| Profit (loss) for the period | 9904 | -€5,111 | €12,449 | +€17,560 | |
| Transfer from tax-exempt reserves | 789 | €32,523 | €36,481 | +€3,958 | +12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,412 | €48,930 | +€21,519 | +78.5% |
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 20 October 2026 via checked.be.