TODELO: 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.
TODELO
Largest movements
- Receivables within one year -€5,220
down €5,220 (-64.5%), from €8,096 to €2,876
of which Trade receivables: -€4,539
- Cash -€1,812
down €1,812 (-27.3%), from €6,628 to €4,816
mainly Trade debts (-€10,484) and Debts after one year (-€3,570)
- Tangible fixed assets -€854
down €854 (-54.6%), from €1,565 to €711
- Stocks and contracts +€450
up €450 (+2.6%), from €17,500 to €17,950
- Trade debts -€10,484
down €10,484 (-73.0%), from €14,369 to €3,885
- Profit (loss) carried forward +€7,829
up €7,829 (+34.6%), from -€22,644 to -€14,815
- Debts after one year -€3,570
down €3,570 (-27.5%), from €13,001 to €9,431
- Current portion of long-term debt -€3,348
down €3,348 (-34.1%), from €9,810 to €6,462
- Other debts +€1,187
up €1,187 (+12.5%), from €9,504 to €10,691
- Staff costs -€16,448
down €16,448 (-69.0%), from €23,831 to €7,383
- Gross operating margin +€6,795
up €6,795 (+61.8%), from €10,996 to €17,791
- Depreciation -€453
down €453 (-34.7%), from €1,307 to €854
- Financial charges -€366
down €366 (-22.0%), from €1,660 to €1,294
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 | €33,789 | €26,353 | -€7,436 | -22.0% |
| Fixed assets | 21/28 | €1,565 | €711 | -€854 | -54.6% |
| Tangible fixed assets | 22/27 | €1,565 | €711 | -€854 | -54.6% |
| Plant, machinery and equipment | 23 | €1,565 | €711 | -€854 | -54.6% |
| Current assets | 29/58 | €32,224 | €25,642 | -€6,582 | -20.4% |
| Stocks and contracts in progress | 3 | €17,500 | €17,950 | +€450 | +2.6% |
| Stocks | 30/36 | €17,500 | €17,950 | +€450 | +2.6% |
| Amounts receivable within one year | 40/41 | €8,096 | €2,876 | -€5,220 | -64.5% |
| Trade receivables | 40 | €4,539 | - | -€4,539 | |
| Other amounts receivable | 41 | €3,557 | €2,876 | -€681 | -19.1% |
| Cash at bank and in hand | 54/58 | €6,628 | €4,816 | -€1,812 | -27.3% |
| Total equity and liabilities | 10/49 | €33,789 | €26,353 | -€7,436 | -22.0% |
| Equity | 10/15 | -€17,369 | -€9,540 | +€7,829 | +45.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €275 | €275 | = | 0.0% |
| Non-distributable reserves | 130/1 | €275 | €275 | = | 0.0% |
| Reserves not available under the articles | 1311 | €275 | €275 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,644 | -€14,815 | +€7,829 | +34.6% |
| Amounts payable | 17/49 | €51,158 | €35,893 | -€15,265 | -29.8% |
| Amounts payable after more than one year | 17 | €13,001 | €9,431 | -€3,570 | -27.5% |
| Financial debts | 170/4 | €13,001 | €9,431 | -€3,570 | -27.5% |
| Amounts payable within one year | 42/48 | €38,157 | €26,462 | -€11,695 | -30.6% |
| Current portion of amounts payable after more than one year | 42 | €9,810 | €6,462 | -€3,348 | -34.1% |
| Trade debts | 44 | €14,369 | €3,885 | -€10,484 | -73.0% |
| Suppliers | 440/4 | €14,369 | €3,885 | -€10,484 | -73.0% |
| Taxes, remuneration and social security | 45 | €4,474 | €5,424 | +€950 | +21.2% |
| Taxes | 450/3 | €1,371 | €5,424 | +€4,053 | +296% |
| Remuneration and social security | 454/9 | €3,103 | - | -€3,103 | |
| Other amounts payable | 47/48 | €9,504 | €10,691 | +€1,187 | +12.5% |
| Remuneration, social security and pensions | 62 | €23,831 | €7,383 | -€16,448 | -69.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,307 | €854 | -€453 | -34.7% |
| Other operating charges | 640/8 | €75 | €210 | +€135 | +180% |
| Gross operating margin | 9900 | €10,996 | €17,791 | +€6,795 | +61.8% |
| Operating profit (loss) | 9901 | -€14,217 | €9,344 | +€23,561 | |
| Financial income | 75/76B | €47 | €14 | -€33 | -70.2% |
| Recurring financial income | 75 | €47 | €14 | -€33 | -70.2% |
| Financial charges | 65/66B | €1,660 | €1,294 | -€366 | -22.0% |
| Recurring financial charges | 65 | €1,660 | €1,294 | -€366 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,830 | €8,064 | +€23,894 | |
| Income taxes | 67/77 | €238 | €235 | -€3 | -1.3% |
| Profit (loss) for the period | 9904 | -€16,068 | €7,829 | +€23,897 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,068 | €7,829 | +€23,897 |
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.