TOLEMAIL: 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.
TOLEMAIL
Largest movements
- Receivables within one year +€164,894
up €164,894 (+56.1%), from €293,932 to €458,826
of which Trade receivables: +€151,252
- Stocks and contracts -€27,181
down €27,181 (-5.1%), from €530,201 to €503,020
- Cash +€19,082
up €19,082 (+66.0%), from €28,897 to €47,979
mainly Trade debts (+€91,602) and Net result for the year (+€45,673)
- Profit (loss) carried forward +€879,673
up €879,673 (+74.6%), from -€1.2m to -€299,550
- Reserves -€834,000
down €834,000 (-45.9%), from €1.8m to €981,977
of which Distributable reserves: -€834,000
- Trade debts +€91,602
up €91,602 (+127%), from €71,892 to €163,494
- Current portion of long-term debt +€42,328
up €42,328 (+795%), from €5,322 to €47,650
- Tax, wage and social debts -€13,175
down €13,175 (-9.6%), from €136,903 to €123,729
of which Remuneration and social security: -€18,201
- Staff costs -€51,947
down €51,947 (-7.7%), from €677,469 to €625,522
- Gross operating margin -€26,312
down €26,312 (-3.5%), from €745,720 to €719,408
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 | €964,505 | €1,127,038 | +€162,532 | +16.9% |
| Fixed assets | 21/28 | €111,426 | €112,870 | +€1,444 | +1.3% |
| Intangible fixed assets | 21 | €21,133 | €21,425 | +€292 | +1.4% |
| Tangible fixed assets | 22/27 | €77,219 | €78,507 | +€1,287 | +1.7% |
| Plant, machinery and equipment | 23 | €61,887 | €45,139 | -€16,748 | -27.1% |
| Furniture and vehicles | 24 | €9,402 | €31,194 | +€21,792 | +232% |
| Other tangible fixed assets | 26 | €5,930 | €2,173 | -€3,757 | -63.4% |
| Financial fixed assets | 28 | €13,073 | €12,938 | -€135 | -1.0% |
| Current assets | 29/58 | €853,080 | €1,014,168 | +€161,088 | +18.9% |
| Stocks and contracts in progress | 3 | €530,201 | €503,020 | -€27,181 | -5.1% |
| Stocks | 30/36 | €530,201 | €503,020 | -€27,181 | -5.1% |
| Amounts receivable within one year | 40/41 | €293,932 | €458,826 | +€164,894 | +56.1% |
| Trade receivables | 40 | €293,847 | €445,099 | +€151,252 | +51.5% |
| Other amounts receivable | 41 | €85 | €13,727 | +€13,641 | +16,041% |
| Cash at bank and in hand | 54/58 | €28,897 | €47,979 | +€19,082 | +66.0% |
| Deferred charges and accrued income | 490/1 | €49 | €4,342 | +€4,293 | +8,694% |
| Total equity and liabilities | 10/49 | €964,505 | €1,127,038 | +€162,532 | +16.9% |
| Equity | 10/15 | €736,755 | €782,427 | +€45,673 | +6.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,815,977 | €981,977 | -€834,000 | -45.9% |
| Non-distributable reserves | 130/1 | €20,916 | €20,916 | = | 0.0% |
| Legal reserve | 130 | €20,900 | €20,900 | = | 0.0% |
| Other | 1319 | €16 | €16 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,062 | €56,062 | = | 0.0% |
| Distributable reserves | 133 | €1,739,000 | €905,000 | -€834,000 | -48.0% |
| Profit (loss) carried forward | 14 | -€1,179,223 | -€299,550 | +€879,673 | +74.6% |
| Provisions and deferred taxes | 16 | €3,966 | €3,966 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,966 | €3,966 | = | 0.0% |
| Pensions and similar obligations | 160 | €3,966 | €3,966 | = | 0.0% |
| Amounts payable | 17/49 | €223,784 | €340,644 | +€116,860 | +52.2% |
| Amounts payable after more than one year | 17 | €3,695 | €0 | -€3,695 | -100% |
| Financial debts | 170/4 | €3,695 | €0 | -€3,695 | -100% |
| Amounts payable within one year | 42/48 | €214,117 | €334,872 | +€120,755 | +56.4% |
| Current portion of amounts payable after more than one year | 42 | €5,322 | €47,650 | +€42,328 | +795% |
| Trade debts | 44 | €71,892 | €163,494 | +€91,602 | +127% |
| Suppliers | 440/4 | €71,892 | €163,494 | +€91,602 | +127% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €136,903 | €123,729 | -€13,175 | -9.6% |
| Taxes | 450/3 | €32,416 | €37,442 | +€5,026 | +15.5% |
| Remuneration and social security | 454/9 | €104,488 | €86,287 | -€18,201 | -17.4% |
| Accrued charges and deferred income | 492/3 | €5,972 | €5,772 | -€201 | -3.4% |
| Non-recurring operating income | 76A | €3,018 | €92 | -€2,926 | -96.9% |
| Remuneration, social security and pensions | 62 | €677,469 | €625,522 | -€51,947 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,269 | €38,679 | +€7,410 | +23.7% |
| Other operating charges | 640/8 | €4,729 | €5,364 | +€635 | +13.4% |
| Non-recurring operating charges | 66A | €134 | €1,337 | +€1,203 | +899% |
| Gross operating margin | 9900 | €745,720 | €719,408 | -€26,312 | -3.5% |
| Operating profit (loss) | 9901 | €32,119 | €48,507 | +€16,388 | +51.0% |
| Financial income | 75/76B | €383 | €4,013 | +€3,629 | +947% |
| Recurring financial income | 75 | €283 | €3,661 | +€3,378 | +1,192% |
| Non-recurring financial income | 76B | €100 | €352 | +€252 | +252% |
| Financial charges | 65/66B | €7,544 | €6,833 | -€710 | -9.4% |
| Recurring financial charges | 65 | €7,544 | €6,833 | -€710 | -9.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €24,959 | €45,686 | +€20,728 | +83.0% |
| Income taxes | 67/77 | €4 | €14 | +€9 | +209% |
| Profit (loss) for the period | 9904 | €24,954 | €45,673 | +€20,718 | +83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,954 | €45,673 | +€20,718 | +83.0% |
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 16 October 2026 via checked.be.