TOFADI: 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.
TOFADI
Largest movements
- Cash +€3,040
up €3,040 (+73.9%), from €4,112 to €7,152
mainly Net result for the year (+€7,610) and Depreciation (+€139)
- Deferred charges and accrued income +€1,323
new in 2025: €1,323
- Receivables within one year +€1,048
up €1,048 (+67.5%), from €1,553 to €2,601
of which Other amounts receivable: +€576
- Tangible fixed assets -€139
no longer reported in 2025 (was €139)
- Profit (loss) carried forward +€6,755
no longer reported in 2025 (was -€6,755)
- Other debts -€2,343
down €2,343 (-33.7%), from €6,948 to €4,604
- Reserves +€855
new in 2025: €855
- Gross operating margin +€16,134
up €16,134, from -€5,832 to €10,302
- Taxes +€1,086
new in 2025: €1,086
- Other operating charges -€372
down €372 (-44.6%), from €834 to €462
- Depreciation +€127
up €127 (+1,107%), from €11 to €139
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 | €5,804 | €11,075 | +€5,271 | +90.8% |
| Fixed assets | 21/28 | €139 | - | -€139 | |
| Tangible fixed assets | 22/27 | €139 | - | -€139 | |
| Furniture and vehicles | 24 | €139 | - | -€139 | |
| Current assets | 29/58 | €5,665 | €11,075 | +€5,410 | +95.5% |
| Amounts receivable within one year | 40/41 | €1,553 | €2,601 | +€1,048 | +67.5% |
| Trade receivables | 40 | - | €472 | +€472 | |
| Other amounts receivable | 41 | €1,553 | €2,129 | +€576 | +37.1% |
| Cash at bank and in hand | 54/58 | €4,112 | €7,152 | +€3,040 | +73.9% |
| Deferred charges and accrued income | 490/1 | - | €1,323 | +€1,323 | |
| Total equity and liabilities | 10/49 | €5,804 | €11,075 | +€5,271 | +90.8% |
| Equity | 10/15 | -€1,755 | €5,855 | +€7,610 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €855 | +€855 | |
| Distributable reserves | 133 | - | €855 | +€855 | |
| Profit (loss) carried forward | 14 | -€6,755 | - | +€6,755 | |
| Amounts payable | 17/49 | €7,559 | €5,221 | -€2,338 | -30.9% |
| Amounts payable within one year | 42/48 | €7,559 | €5,221 | -€2,338 | -30.9% |
| Trade debts | 44 | €611 | €616 | +€5 | +0.8% |
| Suppliers | 440/4 | €611 | €616 | +€5 | +0.8% |
| Other amounts payable | 47/48 | €6,948 | €4,604 | -€2,343 | -33.7% |
| Non-recurring operating income | 76A | €243 | - | -€243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11 | €139 | +€127 | +1,107% |
| Other operating charges | 640/8 | €834 | €462 | -€372 | -44.6% |
| Non-recurring operating charges | 66A | - | €894 | +€894 | |
| Gross operating margin | 9900 | -€5,832 | €10,302 | +€16,134 | |
| Operating profit (loss) | 9901 | -€6,678 | €8,807 | +€15,485 | |
| Financial income | 75/76B | €19 | €4 | -€15 | -77.2% |
| Recurring financial income | 75 | €19 | €4 | -€15 | -77.2% |
| Financial charges | 65/66B | €97 | €116 | +€19 | +19.8% |
| Recurring financial charges | 65 | €97 | €116 | +€19 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,755 | €8,696 | +€15,451 | |
| Income taxes | 67/77 | - | €1,086 | +€1,086 | |
| Profit (loss) for the period | 9904 | -€6,755 | €7,610 | +€14,365 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,755 | €7,610 | +€14,365 |
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.