TODE: what changed
Two fiscal 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.
TODE
Largest movements
- Current investments +€269,528
up €269,528 (+602.5%), from €44,735 to €314,263
- Receivables within one year -€127,596
down €127,596 (-71.6%), from €178,280 to €50,684
of which Other amounts receivable: -€114,130
- Cash -€112,216
down €112,216 (-49.5%), from €226,689 to €114,473
mainly Current investments (-€269,528) and Contributions, distributions and other (-€239,455)
- Tangible fixed assets -€39,308
down €39,308 (-3.2%), from €1.2m to €1.2m
of which Land and buildings: -€31,829
- Other debts +€214,737
up €214,737 (+163.9%), from €130,980 to €345,717
- Reserves -€183,085
down €183,085 (-12.7%), from €1.4m to €1.3m
of which Distributable reserves: -€157,164
- Financial charges +€26,093
up €26,093 (+170.6%), from €15,291 to €41,384
- Taxes -€9,668
down €9,668 (-25.0%), from €38,671 to €29,003
- Gross operating margin -€9,137
down €9,137 (-5.2%), from €176,657 to €167,519
- Financial income +€4,691
up €4,691 (+64.6%), from €7,259 to €11,949
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 | €1,700,363 | €1,699,701 | -€663 | 0.0% |
| Fixed assets | 21/28 | €1,236,993 | €1,197,685 | -€39,308 | -3.2% |
| Tangible fixed assets | 22/27 | €1,236,993 | €1,197,685 | -€39,308 | -3.2% |
| Land and buildings | 22 | €1,198,357 | €1,166,528 | -€31,829 | -2.7% |
| Plant, machinery and equipment | 23 | - | €2,216 | +€2,216 | |
| Furniture and vehicles | 24 | €38,209 | €28,724 | -€9,485 | -24.8% |
| Other tangible fixed assets | 26 | €427 | €218 | -€209 | -49.0% |
| Current assets | 29/58 | €463,371 | €502,016 | +€38,645 | +8.3% |
| Stocks and contracts in progress | 3 | €6,257 | €6,331 | +€75 | +1.2% |
| Stocks | 30/36 | €6,257 | €6,331 | +€75 | +1.2% |
| Amounts receivable within one year | 40/41 | €178,280 | €50,684 | -€127,596 | -71.6% |
| Trade receivables | 40 | €44,441 | €30,975 | -€13,466 | -30.3% |
| Other amounts receivable | 41 | €133,839 | €19,709 | -€114,130 | -85.3% |
| Current investments | 50/53 | €44,735 | €314,263 | +€269,528 | +602.5% |
| Cash at bank and in hand | 54/58 | €226,689 | €114,473 | -€112,216 | -49.5% |
| Deferred charges and accrued income | 490/1 | €7,411 | €16,265 | +€8,855 | +119.5% |
| Total equity and liabilities | 10/49 | €1,700,363 | €1,699,701 | -€663 | 0.0% |
| Equity | 10/15 | €1,476,797 | €1,292,557 | -€184,240 | -12.5% |
| Contributions | 10/11 | €39,436 | €39,436 | = | 0.0% |
| Reserves | 13 | €1,436,206 | €1,253,121 | -€183,085 | -12.7% |
| Non-distributable reserves | 130/1 | €25,921 | - | -€25,921 | |
| Reserves not available under the articles | 1311 | €25,921 | - | -€25,921 | |
| Tax-exempt reserves | 132 | €52,129 | €52,129 | = | 0.0% |
| Distributable reserves | 133 | €1,358,156 | €1,200,992 | -€157,164 | -11.6% |
| Profit (loss) carried forward | 14 | €1,155 | - | -€1,155 | |
| Amounts payable | 17/49 | €223,567 | €407,144 | +€183,577 | +82.1% |
| Amounts payable after more than one year | 17 | €16,636 | - | -€16,636 | |
| Financial debts | 170/4 | €16,636 | - | -€16,636 | |
| Amounts payable within one year | 42/48 | €195,789 | €393,771 | +€197,982 | +101.1% |
| Current portion of amounts payable after more than one year | 42 | €29,982 | €16,636 | -€13,346 | -44.5% |
| Trade debts | 44 | €21,895 | €19,147 | -€2,748 | -12.6% |
| Suppliers | 440/4 | €21,895 | €19,147 | -€2,748 | -12.6% |
| Taxes, remuneration and social security | 45 | €12,932 | €12,271 | -€661 | -5.1% |
| Taxes | 450/3 | €12,932 | €12,271 | -€661 | -5.1% |
| Other amounts payable | 47/48 | €130,980 | €345,717 | +€214,737 | +163.9% |
| Accrued charges and deferred income | 492/3 | €11,141 | €13,373 | +€2,232 | +20.0% |
| Non-recurring operating income | 76A | - | €538 | +€538 | |
| Remuneration, social security and pensions | 62 | -€18 | - | +€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,039 | €49,059 | +€1,020 | +2.1% |
| Other operating charges | 640/8 | €5,020 | €4,809 | -€211 | -4.2% |
| Gross operating margin | 9900 | €176,657 | €167,519 | -€9,137 | -5.2% |
| Operating profit (loss) | 9901 | €123,616 | €113,652 | -€9,964 | -8.1% |
| Financial income | 75/76B | €7,259 | €11,949 | +€4,691 | +64.6% |
| Recurring financial income | 75 | €7,259 | €11,949 | +€4,691 | +64.6% |
| Financial charges | 65/66B | €15,291 | €41,384 | +€26,093 | +170.6% |
| Recurring financial charges | 65 | €15,291 | €41,384 | +€26,093 | +170.6% |
| Profit (loss) for the period before taxes | 9903 | €115,584 | €84,218 | -€31,366 | -27.1% |
| Income taxes | 67/77 | €38,671 | €29,003 | -€9,668 | -25.0% |
| Profit (loss) for the period | 9904 | €76,913 | €55,215 | -€21,698 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,913 | €55,215 | -€21,698 | -28.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.