TOGMM: 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.
TOGMM
Largest movements
- Receivables within one year -€185,814
down €185,814 (-83.7%), from €222,086 to €36,272
of which Trade receivables: -€214,110
- Cash -€121,418
down €121,418 (-95.4%), from €127,223 to €5,805
mainly Net result for the year (-€189,642) and Tax, wage and social debts (-€117,855)
- Tangible fixed assets -€29,523
down €29,523 (-8.6%), from €342,791 to €313,267
of which Plant, machinery and equipment: -€23,273
- Profit (loss) carried forward -€189,642
new in 2025: -€189,642
- Tax, wage and social debts -€117,855
down €117,855 (-74.8%), from €157,654 to €39,799
- Other debts -€42,468
down €42,468 (-45.7%), from €92,914 to €50,446
- Trade debts +€33,187
up €33,187 (+9.7%), from €341,911 to €375,098
- Debts after one year -€19,977
down €19,977 (-35.6%), from €56,063 to €36,086
- Gross operating margin -€289,076
down €289,076, from €189,583 to -€99,492
- Financial charges -€32,478
down €32,478 (-85.7%), from €37,885 to €5,406
of which Non-recurring financial charges: -€30,800
- Taxes -€32,416
down €32,416 (-99.0%), from €32,756 to €340
- Depreciation +€18,848
up €18,848 (+30.1%), from €62,620 to €81,468
- Other operating charges -€2,050
down €2,050 (-41.0%), from €4,999 to €2,948
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 | €1,062,534 | €725,778 | -€336,756 | -31.7% |
| Fixed assets | 21/28 | €343,225 | €313,701 | -€29,523 | -8.6% |
| Tangible fixed assets | 22/27 | €342,791 | €313,267 | -€29,523 | -8.6% |
| Plant, machinery and equipment | 23 | €254,803 | €231,530 | -€23,273 | -9.1% |
| Furniture and vehicles | 24 | €1,297 | €2,919 | +€1,622 | +125% |
| Other tangible fixed assets | 26 | €86,691 | €78,818 | -€7,873 | -9.1% |
| Financial fixed assets | 28 | €434 | €434 | = | 0.0% |
| Current assets | 29/58 | €719,309 | €412,077 | -€307,232 | -42.7% |
| Amounts receivable after more than one year | 29 | €370,000 | €370,000 | = | 0.0% |
| Other amounts receivable | 291 | €370,000 | €370,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €222,086 | €36,272 | -€185,814 | -83.7% |
| Trade receivables | 40 | €222,086 | €7,976 | -€214,110 | -96.4% |
| Other amounts receivable | 41 | - | €28,296 | +€28,296 | |
| Cash at bank and in hand | 54/58 | €127,223 | €5,805 | -€121,418 | -95.4% |
| Total equity and liabilities | 10/49 | €1,062,534 | €725,778 | -€336,756 | -31.7% |
| Equity | 10/15 | €395,181 | €205,538 | -€189,642 | -48.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €388,981 | €388,981 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €387,126 | €387,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€189,642 | -€189,642 | |
| Amounts payable | 17/49 | €667,353 | €520,240 | -€147,113 | -22.0% |
| Amounts payable after more than one year | 17 | €56,063 | €36,086 | -€19,977 | -35.6% |
| Financial debts | 170/4 | €56,063 | €36,086 | -€19,977 | -35.6% |
| Amounts payable within one year | 42/48 | €611,290 | €484,154 | -€127,136 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €18,811 | €18,811 | = | 0.0% |
| Trade debts | 44 | €341,911 | €375,098 | +€33,187 | +9.7% |
| Suppliers | 440/4 | €341,911 | €375,098 | +€33,187 | +9.7% |
| Taxes, remuneration and social security | 45 | €157,654 | €39,799 | -€117,855 | -74.8% |
| Taxes | 450/3 | €157,654 | €39,799 | -€117,855 | -74.8% |
| Other amounts payable | 47/48 | €92,914 | €50,446 | -€42,468 | -45.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,620 | €81,468 | +€18,848 | +30.1% |
| Other operating charges | 640/8 | €4,999 | €2,948 | -€2,050 | -41.0% |
| Gross operating margin | 9900 | €189,583 | -€99,492 | -€289,076 | |
| Operating profit (loss) | 9901 | €121,965 | -€183,908 | -€305,873 | |
| Financial income | 75/76B | €4 | €12 | +€8 | +224% |
| Recurring financial income | 75 | €4 | €12 | +€8 | +224% |
| Financial charges | 65/66B | €37,885 | €5,406 | -€32,478 | -85.7% |
| Recurring financial charges | 65 | €7,085 | €5,406 | -€1,678 | -23.7% |
| Non-recurring financial charges | 66B | €30,800 | - | -€30,800 | |
| Profit (loss) for the period before taxes | 9903 | €84,084 | -€189,303 | -€273,386 | |
| Income taxes | 67/77 | €32,756 | €340 | -€32,416 | -99.0% |
| Profit (loss) for the period | 9904 | €51,327 | -€189,642 | -€240,970 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,327 | -€189,642 | -€240,970 |
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 24 October 2026 via checked.be.