TODC: 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.
TODC
Largest movements
- Receivables within one year -€11,605
down €11,605 (-30.9%), from €37,582 to €25,977
of which Other amounts receivable: -€12,232
- Deferred charges and accrued income -€9,230
down €9,230 (-66.4%), from €13,899 to €4,669
- Tangible fixed assets -€6,475
down €6,475 (-16.3%), from €39,714 to €33,239
- Cash -€6,199
down €6,199 (-9.4%), from €65,662 to €59,463
mainly Contributions, distributions and other (-€13,364) and Tax, wage and social debts (-€12,889)
- Stocks and contracts -€4,491
down €4,491 (-6.6%), from €67,810 to €63,319
- Reserves -€13,364
down €13,364 (-8.7%), from €154,450 to €141,086
of which Distributable reserves: -€13,364
- Tax, wage and social debts -€12,889
down €12,889 (-44.0%), from €29,292 to €16,403
of which Taxes: -€14,587
- Trade debts -€9,464
down €9,464 (-39.1%), from €24,201 to €14,737
- Other debts +€5,618
up €5,618 (+44,800%), from €13 to €5,630
- Current portion of long-term debt -€5,499
down €5,499 (-91.7%), from €6,000 to €501
- Gross operating margin -€16,358
down €16,358 (-10.0%), from €164,047 to €147,689
- Staff costs +€13,713
up €13,713 (+11.6%), from €118,663 to €132,376
- Taxes -€9,658
down €9,658 (-98.9%), from €9,769 to €111
- Other operating charges -€2,872
down €2,872 (-40.1%), from €7,171 to €4,299
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 | €240,104 | €202,104 | -€38,000 | -15.8% |
| Fixed assets | 21/28 | €55,151 | €48,676 | -€6,475 | -11.7% |
| Tangible fixed assets | 22/27 | €39,714 | €33,239 | -€6,475 | -16.3% |
| Plant, machinery and equipment | 23 | €20,967 | €17,801 | -€3,167 | -15.1% |
| Furniture and vehicles | 24 | €1,055 | €909 | -€147 | -13.9% |
| Other tangible fixed assets | 26 | €17,691 | €14,529 | -€3,162 | -17.9% |
| Financial fixed assets | 28 | €15,437 | €15,437 | = | 0.0% |
| Current assets | 29/58 | €184,953 | €153,428 | -€31,525 | -17.0% |
| Stocks and contracts in progress | 3 | €67,810 | €63,319 | -€4,491 | -6.6% |
| Stocks | 30/36 | €67,810 | €63,319 | -€4,491 | -6.6% |
| Amounts receivable within one year | 40/41 | €37,582 | €25,977 | -€11,605 | -30.9% |
| Trade receivables | 40 | €3,498 | €4,125 | +€627 | +17.9% |
| Other amounts receivable | 41 | €34,084 | €21,852 | -€12,232 | -35.9% |
| Cash at bank and in hand | 54/58 | €65,662 | €59,463 | -€6,199 | -9.4% |
| Deferred charges and accrued income | 490/1 | €13,899 | €4,669 | -€9,230 | -66.4% |
| Total equity and liabilities | 10/49 | €240,104 | €202,104 | -€38,000 | -15.8% |
| Equity | 10/15 | €177,801 | €164,833 | -€12,968 | -7.3% |
| Contributions | 10/11 | €12,430 | €12,430 | = | 0.0% |
| Reserves | 13 | €154,450 | €141,086 | -€13,364 | -8.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €152,590 | €139,226 | -€13,364 | -8.8% |
| Profit (loss) carried forward | 14 | €10,921 | €11,317 | +€397 | +3.6% |
| Amounts payable | 17/49 | €62,303 | €37,271 | -€25,032 | -40.2% |
| Amounts payable after more than one year | 17 | €501 | €0 | -€501 | -100% |
| Financial debts | 170/4 | €501 | €0 | -€501 | -100% |
| Amounts payable within one year | 42/48 | €61,604 | €37,271 | -€24,333 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €501 | -€5,499 | -91.7% |
| Trade debts | 44 | €24,201 | €14,737 | -€9,464 | -39.1% |
| Suppliers | 440/4 | €24,201 | €14,737 | -€9,464 | -39.1% |
| Advances received on contracts in progress | 46 | €2,098 | - | -€2,098 | |
| Taxes, remuneration and social security | 45 | €29,292 | €16,403 | -€12,889 | -44.0% |
| Taxes | 450/3 | €15,366 | €779 | -€14,587 | -94.9% |
| Remuneration and social security | 454/9 | €13,925 | €15,624 | +€1,699 | +12.2% |
| Other amounts payable | 47/48 | €13 | €5,630 | +€5,618 | +44,800% |
| Accrued charges and deferred income | 492/3 | €199 | - | -€199 | |
| Remuneration, social security and pensions | 62 | €118,663 | €132,376 | +€13,713 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,352 | €7,545 | +€193 | +2.6% |
| Other operating charges | 640/8 | €7,171 | €4,299 | -€2,872 | -40.1% |
| Gross operating margin | 9900 | €164,047 | €147,689 | -€16,358 | -10.0% |
| Operating profit (loss) | 9901 | €30,861 | €3,469 | -€27,392 | -88.8% |
| Financial income | 75/76B | €168 | €82 | -€86 | -51.2% |
| Recurring financial income | 75 | €168 | €82 | -€86 | -51.2% |
| Financial charges | 65/66B | €3,455 | €3,044 | -€412 | -11.9% |
| Recurring financial charges | 65 | €3,455 | €3,044 | -€412 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €27,574 | €507 | -€27,067 | -98.2% |
| Income taxes | 67/77 | €9,769 | €111 | -€9,658 | -98.9% |
| Profit (loss) for the period | 9904 | €17,806 | €397 | -€17,409 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,806 | €397 | -€17,409 | -97.8% |
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 14 October 2026 via checked.be.