TOL: 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.
TOL
Largest movements
- Financial fixed assets -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Tangible fixed assets -€273,674
down €273,674 (-9.3%), from €2.9m to €2.7m
- Cash +€145,835
up €145,835 (+91.7%), from €158,980 to €304,815
mainly Investment in fixed assets (net) (+€2.7m) and Net result for the year (+€137,209)
- Receivables within one year -€101,405
down €101,405 (-99.2%), from €102,199 to €794
of which Other amounts receivable: -€102,199
- Reserves -€1.9m
down €1.9m (-93.7%), from €2.0m to €127,412
of which Distributable reserves: -€1.9m
- Other debts -€689,166
down €689,166 (-19.9%), from €3.5m to €2.8m
- Profit (loss) carried forward -€94,584
down €94,584 (-55.0%), from €171,878 to €77,294
- Contributions -€58,067
down €58,067 (-93.7%), from €62,000 to €3,933
- Gross operating margin +€105,094
up €105,094 (+51.3%), from €204,953 to €310,046
- Taxes +€41,963
new in 2025: €41,963
- Other operating charges +€10,738
up €10,738 (+52.2%), from €20,579 to €31,317
- Financial income -€6,012
down €6,012 (-100.0%), from €6,012 to €0
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.
Cash bridge derived
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 | €5,713,391 | €2,994,102 | -€2.7m | -47.6% |
| Fixed assets | 21/28 | €5,437,314 | €2,663,640 | -€2.8m | -51.0% |
| Tangible fixed assets | 22/27 | €2,937,314 | €2,663,640 | -€273,674 | -9.3% |
| Land and buildings | 22 | €2,937,314 | €2,663,640 | -€273,674 | -9.3% |
| Financial fixed assets | 28 | €2,500,000 | €0 | -€2.5m | -100.0% |
| Current assets | 29/58 | €276,077 | €330,462 | +€54,385 | +19.7% |
| Amounts receivable within one year | 40/41 | €102,199 | €794 | -€101,405 | -99.2% |
| Trade receivables | 40 | - | €794 | +€794 | |
| Other amounts receivable | 41 | €102,199 | €0 | -€102,199 | -100.0% |
| Cash at bank and in hand | 54/58 | €158,980 | €304,815 | +€145,835 | +91.7% |
| Deferred charges and accrued income | 490/1 | €14,898 | €24,853 | +€9,955 | +66.8% |
| Total equity and liabilities | 10/49 | €5,713,391 | €2,994,102 | -€2.7m | -47.6% |
| Equity | 10/15 | €2,242,447 | €208,638 | -€2.0m | -90.7% |
| Contributions | 10/11 | €62,000 | €3,933 | -€58,067 | -93.7% |
| Reserves | 13 | €2,008,569 | €127,412 | -€1.9m | -93.7% |
| Non-distributable reserves | 130/1 | €6,200 | €393 | -€5,807 | -93.7% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €6,200 | €393 | -€5,807 | -93.7% |
| Distributable reserves | 133 | €2,002,369 | €127,018 | -€1.9m | -93.7% |
| Profit (loss) carried forward | 14 | €171,878 | €77,294 | -€94,584 | -55.0% |
| Amounts payable | 17/49 | €3,470,944 | €2,785,464 | -€685,481 | -19.7% |
| Amounts payable within one year | 42/48 | €3,464,351 | €2,780,141 | -€684,210 | -19.8% |
| Trade debts | 44 | €825 | €3,818 | +€2,993 | +362.8% |
| Suppliers | 440/4 | €825 | €3,818 | +€2,993 | +362.8% |
| Taxes, remuneration and social security | 45 | €0 | €1,963 | +€1,963 | |
| Taxes | 450/3 | €0 | €1,963 | +€1,963 | |
| Other amounts payable | 47/48 | €3,463,526 | €2,774,360 | -€689,166 | -19.9% |
| Accrued charges and deferred income | 492/3 | €6,593 | €5,323 | -€1,270 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,172 | €99,452 | +€281 | +0.3% |
| Other operating charges | 640/8 | €20,579 | €31,317 | +€10,738 | +52.2% |
| Gross operating margin | 9900 | €204,953 | €310,046 | +€105,094 | +51.3% |
| Operating profit (loss) | 9901 | €85,202 | €179,277 | +€94,075 | +110.4% |
| Financial income | 75/76B | €6,012 | €0 | -€6,012 | -100.0% |
| Recurring financial income | 75 | €6,012 | €0 | -€6,012 | -100.0% |
| Financial charges | 65/66B | €154 | €105 | -€49 | -31.9% |
| Recurring financial charges | 65 | €154 | €105 | -€49 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €91,060 | €179,172 | +€88,112 | +96.8% |
| Income taxes | 67/77 | - | €41,963 | +€41,963 | |
| Profit (loss) for the period | 9904 | €91,060 | €137,209 | +€46,149 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,060 | €137,209 | +€46,149 | +50.7% |
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 11 October 2026 via checked.be.