TOGE: 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.
TOGE
Largest movements
- Tangible fixed assets -€109,808
down €109,808 (-5.6%), from €2.0m to €1.9m
- Debts after one year -€129,668
down €129,668 (-7.0%), from €1.8m to €1.7m
- Profit (loss) carried forward +€31,584
up €31,584 (+26.0%), from -€121,568 to -€89,985
- Gross operating margin +€6,714
up €6,714 (+3.3%), from €205,937 to €212,651
- Financial charges -€6,277
down €6,277 (-9.5%), from €66,364 to €60,087
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 | €2,025,326 | €1,927,669 | -€97,657 | -4.8% |
| Fixed assets | 21/28 | €1,968,871 | €1,859,063 | -€109,808 | -5.6% |
| Tangible fixed assets | 22/27 | €1,968,871 | €1,859,063 | -€109,808 | -5.6% |
| Land and buildings | 22 | €1,968,871 | €1,859,063 | -€109,808 | -5.6% |
| Current assets | 29/58 | €56,455 | €68,606 | +€12,151 | +21.5% |
| Amounts receivable within one year | 40/41 | - | €7,000 | +€7,000 | |
| Other amounts receivable | 41 | - | €7,000 | +€7,000 | |
| Cash at bank and in hand | 54/58 | €54,012 | €59,043 | +€5,031 | +9.3% |
| Deferred charges and accrued income | 490/1 | €2,444 | €2,563 | +€120 | +4.9% |
| Total equity and liabilities | 10/49 | €2,025,326 | €1,927,669 | -€97,657 | -4.8% |
| Equity | 10/15 | €10,968 | €42,551 | +€31,584 | +288.0% |
| Contributions | 10/11 | €132,536 | €132,536 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,568 | -€89,985 | +€31,584 | +26.0% |
| Amounts payable | 17/49 | €2,014,358 | €1,885,118 | -€129,240 | -6.4% |
| Amounts payable after more than one year | 17 | €1,845,249 | €1,715,582 | -€129,668 | -7.0% |
| Financial debts | 170/4 | €1,845,249 | €1,715,582 | -€129,668 | -7.0% |
| Amounts payable within one year | 42/48 | €137,029 | €141,182 | +€4,153 | +3.0% |
| Current portion of amounts payable after more than one year | 42 | €125,878 | €129,668 | +€3,790 | +3.0% |
| Trade debts | 44 | €10 | €49 | +€39 | +406.3% |
| Suppliers | 440/4 | €10 | €49 | +€39 | +406.3% |
| Taxes, remuneration and social security | 45 | €11,141 | €11,465 | +€324 | +2.9% |
| Taxes | 450/3 | €11,141 | €11,465 | +€324 | +2.9% |
| Accrued charges and deferred income | 492/3 | €32,080 | €28,354 | -€3,726 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,280 | €119,795 | +€515 | +0.4% |
| Other operating charges | 640/8 | €1,155 | €1,185 | +€31 | +2.7% |
| Gross operating margin | 9900 | €205,937 | €212,651 | +€6,714 | +3.3% |
| Operating profit (loss) | 9901 | €85,502 | €91,670 | +€6,168 | +7.2% |
| Financial charges | 65/66B | €66,364 | €60,087 | -€6,277 | -9.5% |
| Recurring financial charges | 65 | €66,364 | €60,087 | -€6,277 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €19,139 | €31,584 | +€12,445 | +65.0% |
| Profit (loss) for the period | 9904 | €19,139 | €31,584 | +€12,445 | +65.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,139 | €31,584 | +€12,445 | +65.0% |
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 2 October 2026 via checked.be.