TOLBEEK: 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.
TOLBEEK
Largest movements
- Current investments +€927,036
up €927,036 (+370.8%), from €250,000 to €1.2m
- Cash -€517,965
down €517,965 (-93.3%), from €555,221 to €37,256
mainly Current investments (-€927,036) and Receivables within one year (-€69,819)
- Receivables within one year +€69,819
up €69,819 (+134.9%), from €51,751 to €121,570
- Stocks and contracts -€69,704
down €69,704 (-51.5%), from €135,346 to €65,643
- Reserves +€411,525
up €411,525 (+118.3%), from €347,719 to €759,244
of which Distributable reserves: +€411,525
- Trade debts -€56,904
down €56,904 (-100.0%), from €56,904 to €0
- Tax, wage and social debts +€41,153
up €41,153 (+135.0%), from €30,492 to €71,644
- Gross operating margin +€205,917
up €205,917 (+49.5%), from €416,305 to €622,222
- Taxes +€107,680
up €107,680 (+126.8%), from €84,934 to €192,615
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 | €1,032,413 | €1,439,543 | +€407,130 | +39.4% |
| Fixed assets | 21/28 | €40,095 | €35,394 | -€4,702 | -11.7% |
| Tangible fixed assets | 22/27 | €40,095 | €35,394 | -€4,702 | -11.7% |
| Land and buildings | 22 | €40,095 | €35,394 | -€4,702 | -11.7% |
| Current assets | 29/58 | €992,318 | €1,404,149 | +€411,832 | +41.5% |
| Stocks and contracts in progress | 3 | €135,346 | €65,643 | -€69,704 | -51.5% |
| Stocks | 30/36 | €135,346 | €65,643 | -€69,704 | -51.5% |
| Amounts receivable within one year | 40/41 | €51,751 | €121,570 | +€69,819 | +134.9% |
| Other amounts receivable | 41 | €51,751 | €121,570 | +€69,819 | +134.9% |
| Current investments | 50/53 | €250,000 | €1,177,036 | +€927,036 | +370.8% |
| Cash at bank and in hand | 54/58 | €555,221 | €37,256 | -€517,965 | -93.3% |
| Deferred charges and accrued income | 490/1 | €0 | €2,645 | +€2,645 | |
| Total equity and liabilities | 10/49 | €1,032,413 | €1,439,543 | +€407,130 | +39.4% |
| Equity | 10/15 | €775,713 | €1,187,238 | +€411,525 | +53.1% |
| Contributions | 10/11 | €427,994 | €427,994 | = | 0.0% |
| Capital | 10 | €427,994 | €427,994 | = | 0.0% |
| Issued capital | 100 | €427,994 | €427,994 | = | 0.0% |
| Reserves | 13 | €347,719 | €759,244 | +€411,525 | +118.3% |
| Non-distributable reserves | 130/1 | €42,799 | €42,799 | = | 0.0% |
| Legal reserve | 130 | €42,799 | €42,799 | = | 0.0% |
| Distributable reserves | 133 | €304,920 | €716,445 | +€411,525 | +135.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €256,701 | €252,305 | -€4,395 | -1.7% |
| Amounts payable within one year | 42/48 | €235,715 | €231,037 | -€4,678 | -2.0% |
| Trade debts | 44 | €56,904 | €0 | -€56,904 | -100.0% |
| Suppliers | 440/4 | €56,904 | €0 | -€56,904 | -100.0% |
| Taxes, remuneration and social security | 45 | €30,492 | €71,644 | +€41,153 | +135.0% |
| Taxes | 450/3 | €30,492 | €71,644 | +€41,153 | +135.0% |
| Other amounts payable | 47/48 | €148,319 | €159,393 | +€11,074 | +7.5% |
| Accrued charges and deferred income | 492/3 | €20,986 | €21,268 | +€283 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,702 | €4,702 | = | 0.0% |
| Other operating charges | 640/8 | €12,761 | €15,730 | +€2,969 | +23.3% |
| Gross operating margin | 9900 | €416,305 | €622,222 | +€205,917 | +49.5% |
| Operating profit (loss) | 9901 | €398,842 | €601,790 | +€202,948 | +50.9% |
| Financial income | 75/76B | €11,713 | €13,201 | +€1,489 | +12.7% |
| Recurring financial income | 75 | €11,713 | €13,201 | +€1,489 | +12.7% |
| Financial charges | 65/66B | €11,644 | €10,851 | -€792 | -6.8% |
| Recurring financial charges | 65 | €11,644 | €10,851 | -€792 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €398,910 | €604,140 | +€205,229 | +51.4% |
| Income taxes | 67/77 | €84,934 | €192,615 | +€107,680 | +126.8% |
| Profit (loss) for the period | 9904 | €313,976 | €411,525 | +€97,549 | +31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €313,976 | €411,525 | +€97,549 | +31.1% |
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 10 October 2026 via checked.be.