TOEDOES: 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.
TOEDOES
Largest movements
- Cash +€35,099
up €35,099 (+32.0%), from €109,840 to €144,939
mainly Net result for the year (+€74,226) and Other debts (+€19,050)
- Tangible fixed assets -€18,102
down €18,102 (-33.5%), from €53,972 to €35,870
- Other debts +€19,050
up €19,050 (+12.7%), from €149,526 to €168,576
- Profit (loss) carried forward +€14,226
up €14,226 (+2,627%), from €542 to €14,768
- Current portion of long-term debt -€8,462
down €8,462 (-57.8%), from €14,639 to €6,176
- Debts after one year -€6,176
down €6,176 (-100%), from €6,176 to €0
- Trade debts -€2,515
down €2,515 (-76.5%), from €3,289 to €774
- Gross operating margin +€9,796
up €9,796 (+9.3%), from €105,412 to €115,207
- Taxes +€3,274
up €3,274 (+18.5%), from €17,649 to €20,923
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 | €184,744 | €203,781 | +€19,037 | +10.3% |
| Fixed assets | 21/28 | €54,822 | €36,720 | -€18,102 | -33.0% |
| Tangible fixed assets | 22/27 | €53,972 | €35,870 | -€18,102 | -33.5% |
| Furniture and vehicles | 24 | €53,972 | €35,870 | -€18,102 | -33.5% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €129,922 | €167,061 | +€37,139 | +28.6% |
| Amounts receivable within one year | 40/41 | €20,082 | €21,628 | +€1,545 | +7.7% |
| Trade receivables | 40 | €17,732 | €19,277 | +€1,545 | +8.7% |
| Other amounts receivable | 41 | €2,351 | €2,351 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,840 | €144,939 | +€35,099 | +32.0% |
| Deferred charges and accrued income | 490/1 | €0 | €494 | +€494 | |
| Total equity and liabilities | 10/49 | €184,744 | €203,781 | +€19,037 | +10.3% |
| Equity | 10/15 | €1,542 | €15,768 | +€14,226 | +923% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €542 | €14,768 | +€14,226 | +2,627% |
| Amounts payable | 17/49 | €183,203 | €188,013 | +€4,810 | +2.6% |
| Amounts payable after more than one year | 17 | €6,176 | €0 | -€6,176 | -100% |
| Financial debts | 170/4 | €6,176 | €0 | -€6,176 | -100% |
| Amounts payable within one year | 42/48 | €177,027 | €187,614 | +€10,587 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €14,639 | €6,176 | -€8,462 | -57.8% |
| Trade debts | 44 | €3,289 | €774 | -€2,515 | -76.5% |
| Suppliers | 440/4 | €3,289 | €774 | -€2,515 | -76.5% |
| Taxes, remuneration and social security | 45 | €9,573 | €12,087 | +€2,514 | +26.3% |
| Taxes | 450/3 | €9,573 | €12,087 | +€2,514 | +26.3% |
| Other amounts payable | 47/48 | €149,526 | €168,576 | +€19,050 | +12.7% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,917 | €18,837 | -€80 | -0.4% |
| Other operating charges | 640/8 | €695 | €663 | -€32 | -4.6% |
| Gross operating margin | 9900 | €105,412 | €115,207 | +€9,796 | +9.3% |
| Operating profit (loss) | 9901 | €85,799 | €95,706 | +€9,908 | +11.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €883 | €557 | -€326 | -37.0% |
| Recurring financial charges | 65 | €883 | €557 | -€326 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €84,916 | €95,150 | +€10,234 | +12.1% |
| Income taxes | 67/77 | €17,649 | €20,923 | +€3,274 | +18.5% |
| Profit (loss) for the period | 9904 | €67,266 | €74,226 | +€6,960 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €67,266 | €74,226 | +€6,960 | +10.3% |
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 26 October 2026 via checked.be.