TOKCEL: 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.
TOKCEL
Largest movements
- Receivables within one year +€531,280
up €531,280 (+137.2%), from €387,282 to €918,562
of which Other amounts receivable: +€496,309
- Cash +€49,500
up €49,500 (+420.3%), from €11,777 to €61,276
mainly Contributions, distributions and other (+€400,000) and Net result for the year (+€236,459)
- Stocks and contracts -€26,511
down €26,511 (-50.1%), from €52,956 to €26,444
- Reserves +€400,000
up €400,000 (+21505.4%), from €1,860 to €401,860
of which Tax-exempt reserves: +€400,000
- Profit (loss) carried forward +€236,459
up €236,459 (+189.4%), from €124,837 to €361,297
- Other debts -€105,053
down €105,053 (-38.3%), from €274,428 to €169,375
- Tax, wage and social debts +€40,474
up €40,474 (+78.3%), from €51,682 to €92,155
of which Taxes: +€47,963
- Trade debts -€27,466
down €27,466 (-38.1%), from €72,103 to €44,637
- Gross operating margin +€111,147
up €111,147 (+15.6%), from €714,121 to €825,268
- Taxes +€90,446
new in 2024: €90,446
- Other operating charges -€42,131
down €42,131 (-29.2%), from €144,263 to €102,132
- Staff costs -€22,138
down €22,138 (-5.4%), from €410,316 to €388,178
- Financial income +€19,221
up €19,221 (+117.2%), from €16,403 to €35,624
From the 2023 result to the 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €543,510 | €1,087,924 | +€544,414 | +100.2% |
| Fixed assets | 21/28 | €91,496 | €81,641 | -€9,854 | -10.8% |
| Intangible fixed assets | 21 | €833 | €833 | = | 0.0% |
| Tangible fixed assets | 22/27 | €72,983 | €63,154 | -€9,829 | -13.5% |
| Land and buildings | 22 | €14,564 | €10,364 | -€4,200 | -28.8% |
| Plant, machinery and equipment | 23 | €39,631 | €37,471 | -€2,160 | -5.5% |
| Furniture and vehicles | 24 | €8,231 | €5,412 | -€2,819 | -34.2% |
| Leasing and similar rights | 25 | €8,907 | €8,257 | -€650 | -7.3% |
| Assets under construction and advance payments | 27 | €1,650 | €1,650 | = | 0.0% |
| Financial fixed assets | 28 | €17,679 | €17,654 | -€26 | -0.1% |
| Current assets | 29/58 | €452,014 | €1,006,282 | +€554,268 | +122.6% |
| Stocks and contracts in progress | 3 | €52,956 | €26,444 | -€26,511 | -50.1% |
| Stocks | 30/36 | €52,956 | €26,444 | -€26,511 | -50.1% |
| Amounts receivable within one year | 40/41 | €387,282 | €918,562 | +€531,280 | +137.2% |
| Trade receivables | 40 | €1,454 | €36,426 | +€34,971 | +2404.4% |
| Other amounts receivable | 41 | €385,827 | €882,136 | +€496,309 | +128.6% |
| Cash at bank and in hand | 54/58 | €11,777 | €61,276 | +€49,500 | +420.3% |
| Total equity and liabilities | 10/49 | €543,510 | €1,087,924 | +€544,414 | +100.2% |
| Equity | 10/15 | €145,297 | €781,757 | +€636,459 | +438.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €401,860 | +€400,000 | +21505.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | €124,837 | €361,297 | +€236,459 | +189.4% |
| Amounts payable | 17/49 | €398,212 | €306,167 | -€92,045 | -23.1% |
| Amounts payable within one year | 42/48 | €398,212 | €306,167 | -€92,045 | -23.1% |
| Trade debts | 44 | €72,103 | €44,637 | -€27,466 | -38.1% |
| Suppliers | 440/4 | €72,103 | €44,637 | -€27,466 | -38.1% |
| Taxes, remuneration and social security | 45 | €51,682 | €92,155 | +€40,474 | +78.3% |
| Taxes | 450/3 | €44,192 | €92,155 | +€47,963 | +108.5% |
| Remuneration and social security | 454/9 | €7,490 | - | -€7,490 | |
| Other amounts payable | 47/48 | €274,428 | €169,375 | -€105,053 | -38.3% |
| Remuneration, social security and pensions | 62 | €410,316 | €388,178 | -€22,138 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,238 | €12,829 | -€2,409 | -15.8% |
| Other operating charges | 640/8 | €144,263 | €102,132 | -€42,131 | -29.2% |
| Gross operating margin | 9900 | €714,121 | €825,268 | +€111,147 | +15.6% |
| Operating profit (loss) | 9901 | €144,304 | €322,130 | +€177,826 | +123.2% |
| Financial income | 75/76B | €16,403 | €35,624 | +€19,221 | +117.2% |
| Recurring financial income | 75 | €16,403 | €35,624 | +€19,221 | +117.2% |
| Financial charges | 65/66B | €38,044 | €30,849 | -€7,196 | -18.9% |
| Recurring financial charges | 65 | €38,044 | €30,849 | -€7,196 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €122,663 | €326,905 | +€204,242 | +166.5% |
| Income taxes | 67/77 | - | €90,446 | +€90,446 | |
| Profit (loss) for the period | 9904 | €122,663 | €236,459 | +€113,796 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,663 | €236,459 | +€113,796 | +92.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.