TOISON D'OR: 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.
What changed
TOISON D'OR
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 31-12-2024 compared with 31-12-2023filed annual accounts (NBB)
Net result for the year
-€365,306
31-12-2023 · -€711,208+€345,902
Equity
€5.3m
31-12-2023 · €5.7m-€365,305
Cash
€202,761
31-12-2023 · €2.9m-€2.7m
Balance sheet total
€30.1m
31-12-2023 · €32.4m-€2.3m
Largest movements
Assets
- Cash -€2.7m
down €2.7m (-92.9%), from €2.9m to €202,761
mainly Debts after one year (-€4.9m) and Receivables within one year (-€2.2m)
- Receivables within one year +€2.2m
up €2.2m (+401%), from €546,135 to €2.7m
of which Trade receivables: +€1.6m
- Tangible fixed assets -€1.4m
down €1.4m (-5.1%), from €27.5m to €26.1m
- Deferred charges and accrued income -€451,625
down €451,625 (-30.0%), from €1.5m to €1.1m
Equity and liabilities
- Debts after one year -€4.9m
down €4.9m (-19.2%), from €25.5m to €20.6m
of which Financial debts: -€4.9m
- Current portion of long-term debt +€1.5m
new in 2024: €1.5m
- Trade debts +€739,975
up €739,975 (+1,052%), from €70,330 to €810,305
- Short-term financial debts +€424,467
new in 2024: €424,467
- Profit (loss) carried forward -€365,305
down €365,305 (-8.6%), from -€4.2m to -€4.6m
Income statement
- Turnover -€3.1m
no longer reported in 2024 (was €3.1m)
- Gross operating margin +€2.7m
new in 2024: €2.7m
- Services and other goods -€1.8m
no longer reported in 2024 (was €1.8m)
- Other operating income -€1.4m
no longer reported in 2024 (was €1.4m)
- Write-downs -€483,801
down €483,801, from €276,660 to -€207,141
From the 31-12-2023 result to the 31-12-2024 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.
Result 31-12-2023
-€711,208
Turnover
-€3.1m
Other operating income
-€1.4m
Services and other goods
+€1.8m
Depreciation
-€16,493
Write-downs
+€483,801
Other operating charges
-€29,920
Other operating items
+€2.7m
Financial income
+€41,185
Financial charges
-€274,872
Result 31-12-2024
-€365,306
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 31-12-2023 and 31-12-2024 balance sheets and the 31-12-2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€402,820
Investment
-€132,206
Financing
-€2.9m
Cash 31-12-2023
€2.9m
From operations (derived)
+€402,820
Net result for the year
-€365,306
Depreciation
+€1.5m
Receivables within one year
-€2.2m
Deferred charges and accrued income
+€451,625
Trade debts
+€739,975
Tax, wage and social debts
+€113,742
Other debts
+€234,097
Accrued charges and deferred income
-€116,552
Investment (derived)
-€132,206
Investment in fixed assets (net)
-€132,206
Financing
-€2.9m
Debts after one year
-€4.9m
Current portion of long-term debt
+€1.5m
Short-term financial debts
+€424,467
Contributions, distributions and other
+€1
Cash 31-12-2024
€202,761
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2023 | 31-12-2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €32,431,071 | €30,105,537 | -€2.3m | -7.2% |
| Fixed assets | 21/28 | €27,515,284 | €26,111,503 | -€1.4m | -5.1% |
| Tangible fixed assets | 22/27 | €27,515,284 | €26,111,503 | -€1.4m | -5.1% |
| Land and buildings | 22 | €27,515,284 | €26,111,503 | -€1.4m | -5.1% |
| Current assets | 29/58 | €4,915,787 | €3,994,034 | -€921,753 | -18.8% |
| Amounts receivable within one year | 40/41 | €546,135 | €2,736,884 | +€2.2m | +401% |
| Trade receivables | 40 | €437,561 | €2,013,998 | +€1.6m | +360% |
| Other amounts receivable | 41 | €108,574 | €722,885 | +€614,311 | +566% |
| Cash at bank and in hand | 54/58 | €2,863,638 | €202,761 | -€2.7m | -92.9% |
| Deferred charges and accrued income | 490/1 | €1,506,014 | €1,054,389 | -€451,625 | -30.0% |
| Total equity and liabilities | 10/49 | €32,431,071 | €30,105,537 | -€2.3m | -7.2% |
| Equity | 10/15 | €5,658,040 | €5,292,735 | -€365,305 | -6.5% |
| Contributions | 10/11 | €9,699,746 | €9,699,746 | -€0 | 0.0% |
| Capital | 10 | €9,699,746 | €9,699,746 | -€0 | 0.0% |
| Issued capital | 100 | €9,699,746 | €9,699,746 | -€0 | 0.0% |
| Revaluation surpluses | 12 | €97,217 | €97,217 | +€0 | 0.0% |
| Reserves | 13 | €85,199 | €85,199 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €85,199 | €85,199 | +€0 | 0.0% |
| Legal reserve | 130 | €85,199 | €85,199 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€4,224,122 | -€4,589,427 | -€365,305 | -8.6% |
| Amounts payable | 17/49 | €26,773,031 | €24,812,802 | -€2.0m | -7.3% |
| Amounts payable after more than one year | 17 | €25,492,959 | €20,604,000 | -€4.9m | -19.2% |
| Financial debts | 170/4 | €25,235,000 | €20,317,250 | -€4.9m | -19.5% |
| Other loans | 174 | €25,235,000 | - | -€25.2m | |
| Other amounts payable | 178/9 | €257,959 | €286,750 | +€28,791 | +11.2% |
| Amounts payable within one year | 42/48 | €70,330 | €3,115,611 | +€3.0m | +4,330% |
| Current portion of amounts payable after more than one year | 42 | - | €1,533,000 | +€1.5m | |
| Financial debts | 43 | - | €424,467 | +€424,467 | |
| Credit institutions | 430/8 | - | €424,467 | +€424,467 | |
| Trade debts | 44 | €70,330 | €810,305 | +€739,975 | +1,052% |
| Suppliers | 440/4 | €70,330 | €810,305 | +€739,975 | +1,052% |
| Taxes, remuneration and social security | 45 | - | €113,742 | +€113,742 | |
| Taxes | 450/3 | - | €113,742 | +€113,742 | |
| Other amounts payable | 47/48 | - | €234,097 | +€234,097 | |
| Accrued charges and deferred income | 492/3 | €1,209,742 | €1,093,190 | -€116,552 | -9.6% |
| Operating income | 70/76A | €4,442,368 | - | -€4.4m | |
| Turnover | 70 | €3,072,937 | - | -€3.1m | |
| Other operating income | 74 | €1,360,764 | - | -€1.4m | |
| Non-recurring operating income | 76A | €8,667 | €0 | -€8,667 | -100% |
| Operating charges | 60/66A | €4,338,994 | - | -€4.3m | |
| Services and other goods | 61 | €1,841,159 | - | -€1.8m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,519,494 | €1,535,987 | +€16,493 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €276,660 | -€207,141 | -€483,801 | |
| Other operating charges | 640/8 | €701,681 | €731,601 | +€29,920 | +4.3% |
| Gross operating margin | 9900 | - | €2,743,410 | +€2.7m | |
| Operating profit (loss) | 9901 | €103,374 | €682,963 | +€579,589 | +561% |
| Financial income | 75/76B | - | €41,185 | +€41,185 | |
| Recurring financial income | 75 | - | €41,185 | +€41,185 | |
| Financial charges | 65/66B | €814,582 | €1,089,454 | +€274,872 | +33.7% |
| Recurring financial charges | 65 | €814,582 | €1,089,454 | +€274,872 | +33.7% |
| Debt charges | 650 | €814,353 | - | -€814,353 | |
| Other financial charges | 652/9 | €229 | - | -€229 | |
| Profit (loss) for the period before taxes | 9903 | -€711,208 | -€365,306 | +€345,902 | +48.6% |
| Profit (loss) for the period | 9904 | -€711,208 | -€365,306 | +€345,902 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€711,208 | -€365,306 | +€345,902 | +48.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.