TOJA: 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.
TOJA
Largest movements
- Receivables within one year +€159,404
up €159,404 (+36.1%), from €441,539 to €600,944
of which Trade receivables: +€169,589
- Tangible fixed assets -€100,965
down €100,965 (-7.9%), from €1.3m to €1.2m
of which Furniture and vehicles: -€99,317
- Profit (loss) carried forward +€103,922
up €103,922 (+64.4%), from -€161,264 to -€57,342
- Other debts -€58,232
down €58,232 (-13.7%), from €426,033 to €367,802
- Trade debts +€42,177
up €42,177 (+4.1%), from €1.0m to €1.1m
- Reserves -€31,348
down €31,348 (-10.8%), from €289,532 to €258,184
of which Tax-exempt reserves: -€31,348
- Gross operating margin +€226,331
up €226,331, from -€27,577 to €198,754
- Taxes +€3,697
up €3,697 (+1,732%), from €214 to €3,911
- Financial charges +€2,863
up €2,863 (+17.3%), from €16,516 to €19,379
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 | €1,730,512 | €1,791,473 | +€60,962 | +3.5% |
| Fixed assets | 21/28 | €1,285,720 | €1,184,755 | -€100,965 | -7.9% |
| Tangible fixed assets | 22/27 | €1,285,720 | €1,184,755 | -€100,965 | -7.9% |
| Land and buildings | 22 | €91,586 | €90,128 | -€1,458 | -1.6% |
| Plant, machinery and equipment | 23 | €1,135 | €946 | -€189 | -16.7% |
| Furniture and vehicles | 24 | €952,998 | €853,681 | -€99,317 | -10.4% |
| Assets under construction and advance payments | 27 | €240,000 | €240,000 | = | 0.0% |
| Current assets | 29/58 | €444,792 | €606,718 | +€161,927 | +36.4% |
| Stocks and contracts in progress | 3 | €2,300 | €2,300 | = | 0.0% |
| Stocks | 30/36 | €2,300 | €2,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €441,539 | €600,944 | +€159,404 | +36.1% |
| Trade receivables | 40 | €117,172 | €286,761 | +€169,589 | +145% |
| Other amounts receivable | 41 | €324,367 | €314,183 | -€10,184 | -3.1% |
| Cash at bank and in hand | 54/58 | €158 | €3,340 | +€3,182 | +2,020% |
| Deferred charges and accrued income | 490/1 | €795 | €135 | -€660 | -83.0% |
| Total equity and liabilities | 10/49 | €1,730,512 | €1,791,473 | +€60,962 | +3.5% |
| Equity | 10/15 | €141,468 | €214,042 | +€72,574 | +51.3% |
| Contributions | 10/11 | €13,200 | €13,200 | = | 0.0% |
| Reserves | 13 | €289,532 | €258,184 | -€31,348 | -10.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €280,413 | €249,065 | -€31,348 | -11.2% |
| Distributable reserves | 133 | €7,259 | €7,259 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€161,264 | -€57,342 | +€103,922 | +64.4% |
| Provisions and deferred taxes | 16 | €70,103 | €62,266 | -€7,837 | -11.2% |
| Deferred taxes | 168 | €70,103 | €62,266 | -€7,837 | -11.2% |
| Amounts payable | 17/49 | €1,518,940 | €1,515,165 | -€3,776 | -0.2% |
| Amounts payable within one year | 42/48 | €1,475,886 | €1,455,781 | -€20,105 | -1.4% |
| Trade debts | 44 | €1,026,046 | €1,068,223 | +€42,177 | +4.1% |
| Suppliers | 440/4 | €1,026,046 | €1,068,223 | +€42,177 | +4.1% |
| Taxes, remuneration and social security | 45 | €23,807 | €19,756 | -€4,051 | -17.0% |
| Taxes | 450/3 | €23,807 | €19,756 | -€4,051 | -17.0% |
| Other amounts payable | 47/48 | €426,033 | €367,802 | -€58,232 | -13.7% |
| Accrued charges and deferred income | 492/3 | €43,054 | €59,384 | +€16,330 | +37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,597 | €106,065 | +€468 | +0.4% |
| Other operating charges | 640/8 | €8,881 | €8,998 | +€116 | +1.3% |
| Gross operating margin | 9900 | -€27,577 | €198,754 | +€226,331 | |
| Operating profit (loss) | 9901 | -€142,055 | €83,692 | +€225,747 | |
| Financial income | 75/76B | €4,380 | €4,335 | -€45 | -1.0% |
| Recurring financial income | 75 | €4,380 | €4,335 | -€45 | -1.0% |
| Financial charges | 65/66B | €16,516 | €19,379 | +€2,863 | +17.3% |
| Recurring financial charges | 65 | €16,516 | €19,379 | +€2,863 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€154,192 | €68,648 | +€222,839 | |
| Transfer from deferred taxes | 780 | €7,837 | €7,837 | = | 0.0% |
| Income taxes | 67/77 | €214 | €3,911 | +€3,697 | +1,732% |
| Profit (loss) for the period | 9904 | -€146,568 | €72,574 | +€219,142 | |
| Transfer from tax-exempt reserves | 789 | €31,348 | €31,348 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€115,220 | €103,922 | +€219,142 |
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 25 October 2026 via checked.be.