Tôdi: 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.
Tôdi
Largest movements
- Cash -€196,425
down €196,425 (-78.1%), from €251,545 to €55,120
mainly Contributions, distributions and other (-€171,263) and Trade debts (-€126,076)
- Stocks and contracts -€42,149
down €42,149 (-100.0%), from €42,149 to €0
- Receivables within one year +€25,961
up €25,961 (+12.7%), from €203,820 to €229,781
of which Trade receivables: +€43,275
- Intangible fixed assets -€16,563
down €16,563 (-100.0%), from €16,563 to €0
- Deferred charges and accrued income +€13,252
up €13,252 (+31.0%), from €42,816 to €56,068
- Other debts +€286,671
new in 2025: €286,671
- Reserves -€162,212
down €162,212 (-93.1%), from €174,263 to €12,051
of which Tax-exempt reserves: -€113,141
- Trade debts -€126,076
down €126,076 (-88.7%), from €142,105 to €16,029
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Tax, wage and social debts -€47,483
down €47,483 (-56.0%), from €84,815 to €37,332
of which Remuneration and social security: -€40,902
- Gross operating margin -€207,371
down €207,371 (-40.4%), from €512,968 to €305,597
- Staff costs -€105,930
down €105,930 (-25.1%), from €422,216 to €316,287
- Depreciation -€30,797
down €30,797 (-90.9%), from €33,874 to €3,077
- Taxes -€10,966
down €10,966, from €10,821 to -€145
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 | €571,570 | €349,494 | -€222,075 | -38.9% |
| Fixed assets | 21/28 | €31,240 | €8,525 | -€22,715 | -72.7% |
| Intangible fixed assets | 21 | €16,563 | €0 | -€16,563 | -100.0% |
| Tangible fixed assets | 22/27 | €11,677 | €5,525 | -€6,152 | -52.7% |
| Plant, machinery and equipment | 23 | €692 | €2,920 | +€2,228 | +321.7% |
| Furniture and vehicles | 24 | €10,984 | €2,605 | -€8,380 | -76.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €540,330 | €340,970 | -€199,360 | -36.9% |
| Stocks and contracts in progress | 3 | €42,149 | €0 | -€42,149 | -100.0% |
| Stocks | 30/36 | €42,149 | €0 | -€42,149 | -100.0% |
| Amounts receivable within one year | 40/41 | €203,820 | €229,781 | +€25,961 | +12.7% |
| Trade receivables | 40 | €174,676 | €217,951 | +€43,275 | +24.8% |
| Other amounts receivable | 41 | €29,143 | €11,830 | -€17,313 | -59.4% |
| Cash at bank and in hand | 54/58 | €251,545 | €55,120 | -€196,425 | -78.1% |
| Deferred charges and accrued income | 490/1 | €42,816 | €56,068 | +€13,252 | +31.0% |
| Total equity and liabilities | 10/49 | €571,570 | €349,494 | -€222,075 | -38.9% |
| Equity | 10/15 | €201,763 | €9,462 | -€192,300 | -95.3% |
| Contributions | 10/11 | €27,500 | €17,276 | -€10,224 | -37.2% |
| Reserves | 13 | €174,263 | €12,051 | -€162,212 | -93.1% |
| Non-distributable reserves | 130/1 | €2,750 | €178 | -€2,572 | -93.5% |
| Reserves not available under the articles | 1311 | €2,750 | €178 | -€2,572 | -93.5% |
| Tax-exempt reserves | 132 | €121,803 | €8,662 | -€113,141 | -92.9% |
| Distributable reserves | 133 | €49,709 | €3,211 | -€46,498 | -93.5% |
| Profit (loss) carried forward | 14 | €0 | -€19,865 | -€19,865 | |
| Provisions and deferred taxes | 16 | €30,451 | €0 | -€30,451 | -100.0% |
| Deferred taxes | 168 | €30,451 | €0 | -€30,451 | -100.0% |
| Amounts payable | 17/49 | €339,356 | €340,032 | +€676 | +0.2% |
| Amounts payable within one year | 42/48 | €339,356 | €340,032 | +€676 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €12,436 | €0 | -€12,436 | -100.0% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €142,105 | €16,029 | -€126,076 | -88.7% |
| Suppliers | 440/4 | €142,105 | €16,029 | -€126,076 | -88.7% |
| Taxes, remuneration and social security | 45 | €84,815 | €37,332 | -€47,483 | -56.0% |
| Taxes | 450/3 | €13,875 | €7,294 | -€6,581 | -47.4% |
| Remuneration and social security | 454/9 | €70,941 | €30,038 | -€40,902 | -57.7% |
| Other amounts payable | 47/48 | - | €286,671 | +€286,671 | |
| Non-recurring operating income | 76A | €7,724 | €0 | -€7,724 | -100.0% |
| Remuneration, social security and pensions | 62 | €422,216 | €316,287 | -€105,930 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,874 | €3,077 | -€30,797 | -90.9% |
| Other operating charges | 640/8 | €925 | €417 | -€508 | -54.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €512,968 | €305,597 | -€207,371 | -40.4% |
| Operating profit (loss) | 9901 | €55,952 | -€14,184 | -€70,136 | |
| Financial income | 75/76B | €3,443 | €0 | -€3,443 | -100.0% |
| Recurring financial income | 75 | €3,443 | €0 | -€3,443 | -100.0% |
| Financial charges | 65/66B | €7,632 | €6,999 | -€633 | -8.3% |
| Recurring financial charges | 65 | €7,632 | €6,999 | -€633 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €51,763 | -€21,183 | -€72,946 | |
| Transfer from deferred taxes | 780 | €2,053 | €0 | -€2,053 | -100.0% |
| Income taxes | 67/77 | €10,821 | -€145 | -€10,966 | |
| Profit (loss) for the period | 9904 | €42,995 | -€21,038 | -€64,033 | |
| Transfer from tax-exempt reserves | 789 | €8,210 | €1,173 | -€7,038 | -85.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,205 | -€19,865 | -€71,070 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.