TODEJO: 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.
TODEJO
Largest movements
- Tangible fixed assets +€92,704
new in 2025: €92,704
- Current investments -€50,000
down €50,000 (-74.1%), from €67,500 to €17,500
- Cash -€29,467
down €29,467 (-59.6%), from €49,457 to €19,990
mainly Contributions, distributions and other (-€315,804) and Investment in fixed assets (net) (-€108,839)
- Receivables within one year -€5,470
down €5,470 (-17.1%), from €31,955 to €26,485
of which Other amounts receivable: -€13,648
- Deferred charges and accrued income +€3,325
up €3,325 (+298%), from €1,114 to €4,440
- Reserves -€226,713
down €226,713 (-100.0%), from €226,804 to €91
- Other debts +€145,762
new in 2025: €145,762
- Debts after one year +€102,988
new in 2025: €102,988
- Tax, wage and social debts -€23,105
down €23,105 (-41.9%), from €55,124 to €32,019
- Accrued charges and deferred income +€5,353
new in 2025: €5,353
- Gross operating margin +€19,676
up €19,676 (+17.9%), from €109,864 to €129,541
- Depreciation +€16,135
new in 2025: €16,135
- Financial income +€9,151
up €9,151 (+646%), from €1,416 to €10,567
- Financial charges +€8,692
up €8,692 (+6,508%), from €134 to €8,826
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 | €285,026 | €296,118 | +€11,092 | +3.9% |
| Fixed assets | 21/28 | - | €92,704 | +€92,704 | |
| Tangible fixed assets | 22/27 | - | €92,704 | +€92,704 | |
| Land and buildings | 22 | - | €92,704 | +€92,704 | |
| Current assets | 29/58 | €285,026 | €203,415 | -€81,612 | -28.6% |
| Amounts receivable after more than one year | 29 | €135,000 | €135,000 | = | 0.0% |
| Trade receivables | 290 | €135,000 | €135,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,955 | €26,485 | -€5,470 | -17.1% |
| Trade receivables | 40 | €18,307 | €26,485 | +€8,177 | +44.7% |
| Other amounts receivable | 41 | €13,648 | - | -€13,648 | |
| Current investments | 50/53 | €67,500 | €17,500 | -€50,000 | -74.1% |
| Cash at bank and in hand | 54/58 | €49,457 | €19,990 | -€29,467 | -59.6% |
| Deferred charges and accrued income | 490/1 | €1,114 | €4,440 | +€3,325 | +298% |
| Total equity and liabilities | 10/49 | €285,026 | €296,118 | +€11,092 | +3.9% |
| Equity | 10/15 | €229,804 | €3,091 | -€226,713 | -98.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €226,804 | €91 | -€226,713 | -100.0% |
| Distributable reserves | 133 | €226,804 | €91 | -€226,713 | -100.0% |
| Amounts payable | 17/49 | €55,222 | €293,028 | +€237,805 | +431% |
| Amounts payable after more than one year | 17 | - | €102,988 | +€102,988 | |
| Financial debts | 170/4 | - | €102,988 | +€102,988 | |
| Amounts payable within one year | 42/48 | €55,222 | €184,687 | +€129,465 | +234% |
| Current portion of amounts payable after more than one year | 42 | - | €4,587 | +€4,587 | |
| Trade debts | 44 | €98 | €2,320 | +€2,221 | +2,259% |
| Suppliers | 440/4 | €98 | €2,320 | +€2,221 | +2,259% |
| Taxes, remuneration and social security | 45 | €55,124 | €32,019 | -€23,105 | -41.9% |
| Taxes | 450/3 | €55,124 | €32,019 | -€23,105 | -41.9% |
| Other amounts payable | 47/48 | - | €145,762 | +€145,762 | |
| Accrued charges and deferred income | 492/3 | - | €5,353 | +€5,353 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €16,135 | +€16,135 | |
| Other operating charges | 640/8 | €690 | €1,023 | +€333 | +48.3% |
| Gross operating margin | 9900 | €109,864 | €129,541 | +€19,676 | +17.9% |
| Operating profit (loss) | 9901 | €109,175 | €112,383 | +€3,208 | +2.9% |
| Financial income | 75/76B | €1,416 | €10,567 | +€9,151 | +646% |
| Recurring financial income | 75 | €1,416 | €10,567 | +€9,151 | +646% |
| Financial charges | 65/66B | €134 | €8,826 | +€8,692 | +6,508% |
| Recurring financial charges | 65 | €134 | €8,826 | +€8,692 | +6,508% |
| Profit (loss) for the period before taxes | 9903 | €110,458 | €114,124 | +€3,667 | +3.3% |
| Income taxes | 67/77 | €24,284 | €25,033 | +€750 | +3.1% |
| Profit (loss) for the period | 9904 | €86,174 | €89,091 | +€2,917 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,174 | €89,091 | +€2,917 | +3.4% |
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 13 October 2026 via checked.be.