Toels: 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.
Toels
Largest movements
- Cash -€32,955
down €32,955 (-32.7%), from €100,657 to €67,702
mainly Contributions, distributions and other (-€27,000) and Net result for the year (-€13,428)
- Receivables within one year -€16,337
down €16,337 (-40.2%), from €40,619 to €24,282
of which Trade receivables: -€10,816
- Stocks and contracts -€4,898
down €4,898 (-100.0%), from €4,898 to €0
- Reserves -€27,000
down €27,000 (-23.7%), from €114,010 to €87,010
- Profit (loss) carried forward -€13,428
down €13,428, from €1,978 to -€11,450
- Advances received -€6,797
down €6,797 (-97.6%), from €6,965 to €168
- Other debts -€4,611
down €4,611 (-99.2%), from €4,650 to €39
- Tax, wage and social debts -€3,184
down €3,184 (-32.4%), from €9,822 to €6,638
of which Taxes: -€3,197
- Gross operating margin -€21,273
down €21,273, from €12,566 to -€8,707
- Taxes -€2,367
down €2,367, from €2,096 to -€271
- Depreciation -€305
down €305 (-18.5%), from €1,654 to €1,349
- Other operating charges +€225
up €225 (+61.7%), from €364 to €589
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €149,309 | €95,045 | -€54,264 | -36.3% |
| Fixed assets | 21/28 | €1,902 | €3,061 | +€1,159 | +60.9% |
| Intangible fixed assets | 21 | - | €1,205 | +€1,205 | |
| Tangible fixed assets | 22/27 | €1,902 | €1,857 | -€46 | -2.4% |
| Plant, machinery and equipment | 23 | €1,313 | €882 | -€431 | -32.8% |
| Furniture and vehicles | 24 | €589 | €974 | +€385 | +65.3% |
| Current assets | 29/58 | €147,407 | €91,984 | -€55,423 | -37.6% |
| Stocks and contracts in progress | 3 | €4,898 | €0 | -€4,898 | -100.0% |
| Stocks | 30/36 | €4,898 | €0 | -€4,898 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,619 | €24,282 | -€16,337 | -40.2% |
| Trade receivables | 40 | €32,550 | €21,734 | -€10,816 | -33.2% |
| Other amounts receivable | 41 | €8,069 | €2,548 | -€5,521 | -68.4% |
| Cash at bank and in hand | 54/58 | €100,657 | €67,702 | -€32,955 | -32.7% |
| Deferred charges and accrued income | 490/1 | €1,233 | €0 | -€1,233 | -100.0% |
| Total equity and liabilities | 10/49 | €149,309 | €95,045 | -€54,264 | -36.3% |
| Equity | 10/15 | €118,988 | €78,559 | -€40,428 | -34.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €114,010 | €87,010 | -€27,000 | -23.7% |
| Distributable reserves | 133 | €114,010 | €87,010 | -€27,000 | -23.7% |
| Profit (loss) carried forward | 14 | €1,978 | -€11,450 | -€13,428 | |
| Amounts payable | 17/49 | €30,321 | €16,486 | -€13,835 | -45.6% |
| Amounts payable within one year | 42/48 | €30,321 | €16,486 | -€13,835 | -45.6% |
| Trade debts | 44 | €8,885 | €9,640 | +€756 | +8.5% |
| Suppliers | 440/4 | €8,885 | €9,640 | +€756 | +8.5% |
| Advances received on contracts in progress | 46 | €6,965 | €168 | -€6,797 | -97.6% |
| Taxes, remuneration and social security | 45 | €9,822 | €6,638 | -€3,184 | -32.4% |
| Taxes | 450/3 | €6,853 | €3,655 | -€3,197 | -46.7% |
| Remuneration and social security | 454/9 | €2,969 | €2,983 | +€14 | +0.5% |
| Other amounts payable | 47/48 | €4,650 | €39 | -€4,611 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,654 | €1,349 | -€305 | -18.5% |
| Other operating charges | 640/8 | €364 | €589 | +€225 | +61.7% |
| Gross operating margin | 9900 | €12,566 | -€8,707 | -€21,273 | |
| Operating profit (loss) | 9901 | €10,548 | -€10,644 | -€21,192 | |
| Financial income | 75/76B | €26 | €7 | -€19 | -71.5% |
| Recurring financial income | 75 | €26 | €7 | -€19 | -71.5% |
| Financial charges | 65/66B | €2,970 | €3,063 | +€93 | +3.1% |
| Recurring financial charges | 65 | €2,970 | €3,063 | +€93 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €7,604 | -€13,699 | -€21,303 | |
| Income taxes | 67/77 | €2,096 | -€271 | -€2,367 | |
| Profit (loss) for the period | 9904 | €5,508 | -€13,428 | -€18,936 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,508 | -€13,428 | -€18,936 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.