TODEMA: 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.
TODEMA
Largest movements
- Receivables within one year +€34,799
up €34,799 (+2,461%), from €1,414 to €36,213
of which Other amounts receivable: +€36,212
- Tangible fixed assets -€18,343
down €18,343 (-3.5%), from €518,723 to €500,380
of which Other tangible fixed assets: -€90,484
- Other debts +€33,989
up €33,989 (+8.8%), from €387,325 to €421,314
- Debts after one year -€15,409
down €15,409 (-6.3%), from €244,868 to €229,459
- Profit (loss) carried forward -€9,815
down €9,815 (-6.3%), from -€155,849 to -€165,664
- Trade debts +€9,235
up €9,235 (+1,312%), from €704 to €9,939
- Gross operating margin +€9,087
up €9,087 (+63.3%), from €14,356 to €23,442
- Depreciation +€3,763
up €3,763 (+25.8%), from €14,579 to €18,343
- Financial income +€1,441
up €1,441 (+577%), from €250 to €1,690
- Other operating charges +€790
up €790 (+15.9%), from €4,962 to €5,752
- Financial charges -€238
down €238 (-2.2%), from €10,915 to €10,678
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 | €571,212 | €587,531 | +€16,319 | +2.9% |
| Fixed assets | 21/28 | €518,723 | €500,380 | -€18,343 | -3.5% |
| Tangible fixed assets | 22/27 | €518,723 | €500,380 | -€18,343 | -3.5% |
| Land and buildings | 22 | €344,319 | €342,673 | -€1,646 | -0.5% |
| Plant, machinery and equipment | 23 | €22,184 | €101,153 | +€78,969 | +356% |
| Furniture and vehicles | 24 | €61,736 | €56,554 | -€5,181 | -8.4% |
| Other tangible fixed assets | 26 | €90,484 | - | -€90,484 | |
| Current assets | 29/58 | €52,489 | €87,151 | +€34,662 | +66.0% |
| Stocks and contracts in progress | 3 | €42,154 | €42,768 | +€614 | +1.5% |
| Stocks | 30/36 | €42,154 | €42,768 | +€614 | +1.5% |
| Amounts receivable within one year | 40/41 | €1,414 | €36,213 | +€34,799 | +2,461% |
| Trade receivables | 40 | €1,414 | €1 | -€1,413 | -99.9% |
| Other amounts receivable | 41 | - | €36,212 | +€36,212 | |
| Cash at bank and in hand | 54/58 | €3,931 | €6,787 | +€2,856 | +72.7% |
| Deferred charges and accrued income | 490/1 | €4,990 | €1,383 | -€3,607 | -72.3% |
| Total equity and liabilities | 10/49 | €571,212 | €587,531 | +€16,319 | +2.9% |
| Equity | 10/15 | -€85,849 | -€95,664 | -€9,815 | -11.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€155,849 | -€165,664 | -€9,815 | -6.3% |
| Amounts payable | 17/49 | €657,060 | €683,195 | +€26,134 | +4.0% |
| Amounts payable after more than one year | 17 | €244,868 | €229,459 | -€15,409 | -6.3% |
| Financial debts | 170/4 | €244,868 | €229,459 | -€15,409 | -6.3% |
| Amounts payable within one year | 42/48 | €411,643 | €453,711 | +€42,069 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €15,651 | €16,191 | +€540 | +3.5% |
| Trade debts | 44 | €704 | €9,939 | +€9,235 | +1,312% |
| Suppliers | 440/4 | €704 | €9,939 | +€9,235 | +1,312% |
| Advances received on contracts in progress | 46 | €3,650 | €3,734 | +€84 | +2.3% |
| Taxes, remuneration and social security | 45 | €4,313 | €2,534 | -€1,778 | -41.2% |
| Taxes | 450/3 | €4,313 | €2,534 | -€1,778 | -41.2% |
| Other amounts payable | 47/48 | €387,325 | €421,314 | +€33,989 | +8.8% |
| Accrued charges and deferred income | 492/3 | €550 | €25 | -€525 | -95.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,579 | €18,343 | +€3,763 | +25.8% |
| Other operating charges | 640/8 | €4,962 | €5,752 | +€790 | +15.9% |
| Gross operating margin | 9900 | €14,356 | €23,442 | +€9,087 | +63.3% |
| Operating profit (loss) | 9901 | -€5,185 | -€652 | +€4,533 | +87.4% |
| Financial income | 75/76B | €250 | €1,690 | +€1,441 | +577% |
| Recurring financial income | 75 | €250 | €1,690 | +€1,441 | +577% |
| Financial charges | 65/66B | €10,915 | €10,678 | -€238 | -2.2% |
| Recurring financial charges | 65 | €10,915 | €10,678 | -€238 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€15,851 | -€9,639 | +€6,212 | +39.2% |
| Income taxes | 67/77 | - | €176 | +€176 | |
| Profit (loss) for the period | 9904 | -€15,851 | -€9,815 | +€6,036 | +38.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,851 | -€9,815 | +€6,036 | +38.1% |
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.