TOKOMAS: 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.
TOKOMAS
Largest movements
- Tangible fixed assets -€83,614
down €83,614 (-2.4%), from €3.5m to €3.4m
- Debts after one year -€244,117
down €244,117 (-8.3%), from €2.9m to €2.7m
- Reserves +€100,408
up €100,408 (+34.7%), from €289,586 to €389,994
of which Distributable reserves: +€100,408
- Gross operating margin +€9,789
up €9,789 (+3.1%), from €320,754 to €330,543
- Taxes +€5,343
up €5,343 (+13.2%), from €40,551 to €45,894
- Financial charges -€4,197
down €4,197 (-7.2%), from €57,992 to €53,795
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 | €3,643,817 | €3,558,548 | -€85,269 | -2.3% |
| Fixed assets | 21/28 | €3,521,206 | €3,437,592 | -€83,614 | -2.4% |
| Tangible fixed assets | 22/27 | €3,521,206 | €3,437,592 | -€83,614 | -2.4% |
| Land and buildings | 22 | €3,521,206 | €3,437,592 | -€83,614 | -2.4% |
| Current assets | 29/58 | €122,611 | €120,956 | -€1,655 | -1.3% |
| Amounts receivable within one year | 40/41 | €7,582 | €7,582 | = | 0.0% |
| Other amounts receivable | 41 | €7,582 | €7,582 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €115,029 | €113,375 | -€1,655 | -1.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,643,817 | €3,558,548 | -€85,269 | -2.3% |
| Equity | 10/15 | €341,673 | €469,994 | +€128,321 | +37.6% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €289,586 | €389,994 | +€100,408 | +34.7% |
| Tax-exempt reserves | 132 | €2,862 | €2,862 | = | 0.0% |
| Distributable reserves | 133 | €286,725 | €387,133 | +€100,408 | +35.0% |
| Profit (loss) carried forward | 14 | -€27,913 | €0 | +€27,913 | |
| Amounts payable | 17/49 | €3,302,144 | €3,088,554 | -€213,590 | -6.5% |
| Amounts payable after more than one year | 17 | €2,935,126 | €2,691,009 | -€244,117 | -8.3% |
| Financial debts | 170/4 | €2,935,126 | €2,691,009 | -€244,117 | -8.3% |
| Amounts payable within one year | 42/48 | €323,029 | €352,847 | +€29,818 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €239,884 | €244,116 | +€4,233 | +1.8% |
| Trade debts | 44 | €3,638 | €3,350 | -€287 | -7.9% |
| Suppliers | 440/4 | €3,638 | €3,350 | -€287 | -7.9% |
| Taxes, remuneration and social security | 45 | €17,325 | €23,333 | +€6,008 | +34.7% |
| Taxes | 450/3 | €17,325 | €23,333 | +€6,008 | +34.7% |
| Other amounts payable | 47/48 | €62,182 | €82,048 | +€19,865 | +31.9% |
| Accrued charges and deferred income | 492/3 | €43,989 | €44,698 | +€709 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,913 | €83,614 | -€299 | -0.4% |
| Other operating charges | 640/8 | €16,827 | €18,919 | +€2,092 | +12.4% |
| Gross operating margin | 9900 | €320,754 | €330,543 | +€9,789 | +3.1% |
| Operating profit (loss) | 9901 | €220,014 | €228,009 | +€7,996 | +3.6% |
| Financial charges | 65/66B | €57,992 | €53,795 | -€4,197 | -7.2% |
| Recurring financial charges | 65 | €57,992 | €53,795 | -€4,197 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €162,022 | €174,215 | +€12,193 | +7.5% |
| Income taxes | 67/77 | €40,551 | €45,894 | +€5,343 | +13.2% |
| Profit (loss) for the period | 9904 | €121,471 | €128,321 | +€6,850 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €121,471 | €128,321 | +€6,850 | +5.6% |
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.