Toledo: 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.
Toledo
Largest movements
- Tangible fixed assets -€49,705
down €49,705 (-34.0%), from €146,011 to €96,307
of which Plant, machinery and equipment: -€28,484
- Receivables within one year +€41,260
up €41,260 (+40.8%), from €101,011 to €142,272
of which Trade receivables: +€37,567
- Stocks and contracts -€40,906
down €40,906 (-62.8%), from €65,178 to €24,272
of which Contracts in progress: -€40,000
- Cash -€3,511
down €3,511 (-100.0%), from €3,511 to €0
mainly Receivables within one year (-€41,260) and Net result for the year (-€39,555)
- Profit (loss) carried forward -€39,555
down €39,555 (-123.2%), from -€32,105 to -€71,661
- Debts after one year -€34,493
down €34,493 (-54.8%), from €62,980 to €28,487
- Short-term financial debts +€22,037
up €22,037 (+55.1%), from €40,000 to €62,037
- Current portion of long-term debt -€11,874
down €11,874 (-32.0%), from €37,061 to €25,187
- Trade debts +€11,185
up €11,185 (+23.3%), from €47,962 to €59,146
- Taxes +€2,195
up €2,195 (+688.0%), from €319 to €2,514
- Depreciation -€1,930
down €1,930 (-6.3%), from €30,808 to €28,877
- Gross operating margin +€1,584
up €1,584 (+17.3%), from €9,157 to €10,741
- Other operating charges +€370
up €370 (+12.1%), from €3,046 to €3,415
- Staff costs -€296
down €296, from €0 to -€296
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 | €318,166 | €265,305 | -€52,861 | -16.6% |
| Fixed assets | 21/28 | €148,466 | €98,762 | -€49,705 | -33.5% |
| Tangible fixed assets | 22/27 | €146,011 | €96,307 | -€49,705 | -34.0% |
| Land and buildings | 22 | €33,981 | €32,273 | -€1,708 | -5.0% |
| Plant, machinery and equipment | 23 | €55,762 | €27,277 | -€28,484 | -51.1% |
| Furniture and vehicles | 24 | €56,269 | €36,756 | -€19,512 | -34.7% |
| Financial fixed assets | 28 | €2,455 | €2,455 | = | 0.0% |
| Current assets | 29/58 | €169,700 | €166,543 | -€3,156 | -1.9% |
| Stocks and contracts in progress | 3 | €65,178 | €24,272 | -€40,906 | -62.8% |
| Stocks | 30/36 | €25,178 | €24,272 | -€906 | -3.6% |
| Contracts in progress | 37 | €40,000 | €0 | -€40,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €101,011 | €142,272 | +€41,260 | +40.8% |
| Trade receivables | 40 | €98,432 | €136,000 | +€37,567 | +38.2% |
| Other amounts receivable | 41 | €2,579 | €6,272 | +€3,693 | +143.2% |
| Cash at bank and in hand | 54/58 | €3,511 | €0 | -€3,511 | -100.0% |
| Total equity and liabilities | 10/49 | €318,166 | €265,305 | -€52,861 | -16.6% |
| Equity | 10/15 | €113,895 | €74,339 | -€39,555 | -34.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €143,000 | €143,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €141,000 | €141,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,105 | -€71,661 | -€39,555 | -123.2% |
| Amounts payable | 17/49 | €204,272 | €190,966 | -€13,306 | -6.5% |
| Amounts payable after more than one year | 17 | €62,980 | €28,487 | -€34,493 | -54.8% |
| Financial debts | 170/4 | €62,980 | €28,487 | -€34,493 | -54.8% |
| Amounts payable within one year | 42/48 | €141,292 | €162,479 | +€21,187 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €37,061 | €25,187 | -€11,874 | -32.0% |
| Financial debts | 43 | €40,000 | €62,037 | +€22,037 | +55.1% |
| Credit institutions | 430/8 | €40,000 | €62,037 | +€22,037 | +55.1% |
| Trade debts | 44 | €47,962 | €59,146 | +€11,185 | +23.3% |
| Suppliers | 440/4 | €47,962 | €59,146 | +€11,185 | +23.3% |
| Taxes, remuneration and social security | 45 | €15,392 | €15,537 | +€146 | +0.9% |
| Taxes | 450/3 | €15,040 | €15,537 | +€498 | +3.3% |
| Remuneration and social security | 454/9 | €352 | €0 | -€352 | -100.0% |
| Other amounts payable | 47/48 | €877 | €571 | -€306 | -34.9% |
| Remuneration, social security and pensions | 62 | €0 | -€296 | -€296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,808 | €28,877 | -€1,930 | -6.3% |
| Other operating charges | 640/8 | €3,046 | €3,415 | +€370 | +12.1% |
| Non-recurring operating charges | 66A | €0 | €6,984 | +€6,984 | |
| Gross operating margin | 9900 | €9,157 | €10,741 | +€1,584 | +17.3% |
| Operating profit (loss) | 9901 | -€24,696 | -€28,238 | -€3,542 | -14.3% |
| Financial income | 75/76B | €219 | €31 | -€188 | -86.0% |
| Recurring financial income | 75 | €219 | €31 | -€188 | -86.0% |
| Financial charges | 65/66B | €8,875 | €8,834 | -€40 | -0.5% |
| Recurring financial charges | 65 | €8,875 | €8,834 | -€40 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,351 | -€37,042 | -€3,690 | -11.1% |
| Income taxes | 67/77 | €319 | €2,514 | +€2,195 | +688.0% |
| Profit (loss) for the period | 9904 | -€33,670 | -€39,555 | -€5,885 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,670 | -€39,555 | -€5,885 | -17.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.