Toedrwa: 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.
Toedrwa
Largest movements
- Tangible fixed assets +€263,959
up €263,959 (+68.1%), from €387,360 to €651,319
of which Land and buildings: +€242,152
- Cash +€43,772
up €43,772 (+14.3%), from €305,807 to €349,578
mainly Other debts (+€296,267) and Net result for the year (+€174,206)
- Receivables within one year -€23,530
down €23,530 (-30.4%), from €77,493 to €53,963
of which Other amounts receivable: -€29,032
- Other debts +€296,267
up €296,267 (+3,048%), from €9,721 to €305,987
- Reserves -€125,794
down €125,794 (-38.7%), from €324,653 to €198,859
- Debts after one year +€63,596
up €63,596 (+20.2%), from €315,175 to €378,770
- Tax, wage and social debts +€50,905
up €50,905 (+699%), from €7,280 to €58,185
of which Taxes: +€50,228
- Current portion of long-term debt +€41,906
up €41,906 (+203%), from €20,663 to €62,569
- Gross operating margin +€198,645
up €198,645 (+164%), from €120,813 to €319,459
- Taxes +€42,613
up €42,613 (+586%), from €7,273 to €49,886
- Financial charges +€14,674
up €14,674 (+606%), from €2,423 to €17,097
- Depreciation +€3,884
up €3,884 (+15.8%), from €24,644 to €28,528
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 | €775,215 | €1,059,630 | +€284,415 | +36.7% |
| Fixed assets | 21/28 | €389,785 | €653,744 | +€263,959 | +67.7% |
| Tangible fixed assets | 22/27 | €387,360 | €651,319 | +€263,959 | +68.1% |
| Land and buildings | 22 | €344,202 | €586,354 | +€242,152 | +70.4% |
| Plant, machinery and equipment | 23 | €1,933 | €3,597 | +€1,664 | +86.0% |
| Furniture and vehicles | 24 | €41,224 | €61,368 | +€20,143 | +48.9% |
| Financial fixed assets | 28 | €2,425 | €2,425 | = | 0.0% |
| Current assets | 29/58 | €385,430 | €405,886 | +€20,456 | +5.3% |
| Amounts receivable within one year | 40/41 | €77,493 | €53,963 | -€23,530 | -30.4% |
| Trade receivables | 40 | €47,766 | €53,268 | +€5,501 | +11.5% |
| Other amounts receivable | 41 | €29,727 | €695 | -€29,032 | -97.7% |
| Cash at bank and in hand | 54/58 | €305,807 | €349,578 | +€43,772 | +14.3% |
| Deferred charges and accrued income | 490/1 | €2,130 | €2,345 | +€215 | +10.1% |
| Total equity and liabilities | 10/49 | €775,215 | €1,059,630 | +€284,415 | +36.7% |
| Equity | 10/15 | €327,153 | €201,359 | -€125,794 | -38.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €324,653 | €198,859 | -€125,794 | -38.7% |
| Distributable reserves | 133 | €324,653 | €198,859 | -€125,794 | -38.7% |
| Amounts payable | 17/49 | €448,062 | €858,271 | +€410,209 | +91.6% |
| Amounts payable after more than one year | 17 | €315,175 | €378,770 | +€63,596 | +20.2% |
| Financial debts | 170/4 | €315,175 | €378,770 | +€63,596 | +20.2% |
| Amounts payable within one year | 42/48 | €132,887 | €479,500 | +€346,613 | +261% |
| Current portion of amounts payable after more than one year | 42 | €20,663 | €62,569 | +€41,906 | +203% |
| Trade debts | 44 | €34,774 | €31,250 | -€3,524 | -10.1% |
| Suppliers | 440/4 | €34,774 | €31,250 | -€3,524 | -10.1% |
| Advances received on contracts in progress | 46 | €60,449 | €21,509 | -€38,940 | -64.4% |
| Taxes, remuneration and social security | 45 | €7,280 | €58,185 | +€50,905 | +699% |
| Taxes | 450/3 | €2,514 | €52,742 | +€50,228 | +1,998% |
| Remuneration and social security | 454/9 | €4,766 | €5,443 | +€677 | +14.2% |
| Other amounts payable | 47/48 | €9,721 | €305,987 | +€296,267 | +3,048% |
| Remuneration, social security and pensions | 62 | €43,442 | €45,954 | +€2,512 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,644 | €28,528 | +€3,884 | +15.8% |
| Other operating charges | 640/8 | €4,360 | €4,851 | +€491 | +11.3% |
| Gross operating margin | 9900 | €120,813 | €319,459 | +€198,645 | +164% |
| Operating profit (loss) | 9901 | €48,367 | €240,125 | +€191,757 | +396% |
| Financial income | 75/76B | €1,551 | €1,064 | -€487 | -31.4% |
| Recurring financial income | 75 | €1,551 | €1,064 | -€487 | -31.4% |
| Financial charges | 65/66B | €2,423 | €17,097 | +€14,674 | +606% |
| Recurring financial charges | 65 | €2,423 | €17,097 | +€14,674 | +606% |
| Profit (loss) for the period before taxes | 9903 | €47,496 | €224,092 | +€176,596 | +372% |
| Income taxes | 67/77 | €7,273 | €49,886 | +€42,613 | +586% |
| Profit (loss) for the period | 9904 | €40,223 | €174,206 | +€133,983 | +333% |
| Profit (loss) for the period to be appropriated | 9905 | €40,223 | €174,206 | +€133,983 | +333% |
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 28 October 2026 via checked.be.