TOLDI: 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.
TOLDI
Largest movements
- Cash +€29,313
up €29,313 (+69.0%), from €42,468 to €71,780
mainly Trade debts (+€36,303) and Net result for the year (+€21,980)
- Stocks and contracts +€19,451
up €19,451 (+25.8%), from €75,246 to €94,697
- Receivables within one year +€18,494
up €18,494 (+50.7%), from €36,444 to €54,938
- Tangible fixed assets -€3,670
down €3,670 (-49.9%), from €7,362 to €3,692
of which Furniture and vehicles: -€3,220
- Intangible fixed assets -€2,569
no longer reported in 2025 (was €2,569)
- Trade debts +€36,303
up €36,303 (+428%), from €8,482 to €44,785
- Profit (loss) carried forward +€21,980
up €21,980 (+50.3%), from €43,712 to €65,692
- Gross operating margin -€25,258
down €25,258 (-23.8%), from €105,952 to €80,694
- Staff costs -€23,434
down €23,434 (-39.3%), from €59,674 to €36,240
- Depreciation -€8,376
down €8,376 (-57.3%), from €14,614 to €6,239
- Taxes +€6,632
up €6,632 (+117%), from €5,661 to €12,293
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 | €173,367 | €232,511 | +€59,144 | +34.1% |
| Fixed assets | 21/28 | €9,930 | €3,692 | -€6,239 | -62.8% |
| Intangible fixed assets | 21 | €2,569 | - | -€2,569 | |
| Tangible fixed assets | 22/27 | €7,362 | €3,692 | -€3,670 | -49.9% |
| Plant, machinery and equipment | 23 | €4,050 | €3,600 | -€450 | -11.1% |
| Furniture and vehicles | 24 | €3,312 | €92 | -€3,220 | -97.2% |
| Current assets | 29/58 | €163,436 | €228,819 | +€65,383 | +40.0% |
| Stocks and contracts in progress | 3 | €75,246 | €94,697 | +€19,451 | +25.8% |
| Stocks | 30/36 | €75,246 | €94,697 | +€19,451 | +25.8% |
| Amounts receivable within one year | 40/41 | €36,444 | €54,938 | +€18,494 | +50.7% |
| Other amounts receivable | 41 | €36,444 | €54,938 | +€18,494 | +50.7% |
| Current investments | 50/53 | €6,418 | €6,403 | -€14 | -0.2% |
| Cash at bank and in hand | 54/58 | €42,468 | €71,780 | +€29,313 | +69.0% |
| Deferred charges and accrued income | 490/1 | €2,861 | €1,000 | -€1,861 | -65.0% |
| Total equity and liabilities | 10/49 | €173,367 | €232,511 | +€59,144 | +34.1% |
| Equity | 10/15 | €127,535 | €149,515 | +€21,980 | +17.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €22,323 | €22,323 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €16,173 | €16,173 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,712 | €65,692 | +€21,980 | +50.3% |
| Amounts payable | 17/49 | €45,831 | €82,995 | +€37,164 | +81.1% |
| Amounts payable within one year | 42/48 | €44,220 | €82,995 | +€38,776 | +87.7% |
| Trade debts | 44 | €8,482 | €44,785 | +€36,303 | +428% |
| Suppliers | 440/4 | €8,482 | €44,785 | +€36,303 | +428% |
| Taxes, remuneration and social security | 45 | €25,120 | €25,863 | +€744 | +3.0% |
| Taxes | 450/3 | €13,393 | €16,163 | +€2,769 | +20.7% |
| Remuneration and social security | 454/9 | €11,726 | €9,700 | -€2,026 | -17.3% |
| Other amounts payable | 47/48 | €10,618 | €12,347 | +€1,730 | +16.3% |
| Accrued charges and deferred income | 492/3 | €1,612 | - | -€1,612 | |
| Remuneration, social security and pensions | 62 | €59,674 | €36,240 | -€23,434 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,614 | €6,239 | -€8,376 | -57.3% |
| Other operating charges | 640/8 | €770 | €1,826 | +€1,057 | +137% |
| Non-recurring operating charges | 66A | €603 | - | -€603 | |
| Gross operating margin | 9900 | €105,952 | €80,694 | -€25,258 | -23.8% |
| Operating profit (loss) | 9901 | €30,291 | €36,389 | +€6,098 | +20.1% |
| Financial income | 75/76B | €94 | €129 | +€35 | +37.7% |
| Recurring financial income | 75 | €94 | €129 | +€35 | +37.7% |
| Financial charges | 65/66B | €2,312 | €2,245 | -€67 | -2.9% |
| Recurring financial charges | 65 | €2,312 | €2,245 | -€67 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €28,073 | €34,273 | +€6,200 | +22.1% |
| Income taxes | 67/77 | €5,661 | €12,293 | +€6,632 | +117% |
| Profit (loss) for the period | 9904 | €22,412 | €21,980 | -€432 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,412 | €21,980 | -€432 | -1.9% |
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 15 October 2026 via checked.be.