TOLGAHAN: 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.
TOLGAHAN
Largest movements
- Tangible fixed assets +€307,249
up €307,249 (+101%), from €303,293 to €610,542
of which Land and buildings: +€320,632
- Receivables within one year +€170,359
up €170,359 (+26.5%), from €643,335 to €813,694
of which Trade receivables: +€160,883
- Cash +€24,878
up €24,878 (+7.9%), from €314,530 to €339,408
mainly Net result for the year (+€218,001) and Debts after one year (+€206,922)
- Profit (loss) carried forward +€218,001
up €218,001 (+28.6%), from €762,760 to €980,761
- Debts after one year +€206,922
up €206,922 (+2,318%), from €8,928 to €215,850
- Current portion of long-term debt +€83,747
up €83,747 (+82.0%), from €102,190 to €185,937
- Trade debts -€26,064
down €26,064 (-15.6%), from €167,280 to €141,216
- Tax, wage and social debts +€20,026
up €20,026 (+9.5%), from €210,738 to €230,764
of which Remuneration and social security: +€22,873
- Staff costs +€141,164
up €141,164 (+13.2%), from €1.1m to €1.2m
- Gross operating margin +€88,981
up €88,981 (+5.9%), from €1.5m to €1.6m
- Depreciation -€37,122
down €37,122 (-26.9%), from €137,896 to €100,774
- Taxes -€35,800
down €35,800 (-50.8%), from €70,540 to €34,740
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 | €1,277,604 | €1,780,236 | +€502,632 | +39.3% |
| Fixed assets | 21/28 | €314,363 | €621,612 | +€307,249 | +97.7% |
| Tangible fixed assets | 22/27 | €303,293 | €610,542 | +€307,249 | +101% |
| Land and buildings | 22 | - | €320,632 | +€320,632 | |
| Plant, machinery and equipment | 23 | €1,189 | €2,159 | +€970 | +81.6% |
| Furniture and vehicles | 24 | €302,104 | €287,751 | -€14,353 | -4.8% |
| Financial fixed assets | 28 | €11,070 | €11,070 | = | 0.0% |
| Current assets | 29/58 | €963,241 | €1,158,624 | +€195,383 | +20.3% |
| Amounts receivable within one year | 40/41 | €643,335 | €813,694 | +€170,359 | +26.5% |
| Trade receivables | 40 | €569,704 | €730,587 | +€160,883 | +28.2% |
| Other amounts receivable | 41 | €73,631 | €83,107 | +€9,476 | +12.9% |
| Current investments | 50/53 | - | €1,034 | +€1,034 | |
| Cash at bank and in hand | 54/58 | €314,530 | €339,408 | +€24,878 | +7.9% |
| Deferred charges and accrued income | 490/1 | €5,376 | €4,488 | -€888 | -16.5% |
| Total equity and liabilities | 10/49 | €1,277,604 | €1,780,236 | +€502,632 | +39.3% |
| Equity | 10/15 | €783,660 | €1,001,661 | +€218,001 | +27.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €762,760 | €980,761 | +€218,001 | +28.6% |
| Amounts payable | 17/49 | €493,944 | €778,575 | +€284,631 | +57.6% |
| Amounts payable after more than one year | 17 | €8,928 | €215,850 | +€206,922 | +2,318% |
| Financial debts | 170/4 | €8,928 | €215,850 | +€206,922 | +2,318% |
| Amounts payable within one year | 42/48 | €485,016 | €562,725 | +€77,709 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €102,190 | €185,937 | +€83,747 | +82.0% |
| Trade debts | 44 | €167,280 | €141,216 | -€26,064 | -15.6% |
| Suppliers | 440/4 | €167,280 | €141,216 | -€26,064 | -15.6% |
| Taxes, remuneration and social security | 45 | €210,738 | €230,764 | +€20,026 | +9.5% |
| Taxes | 450/3 | €126,633 | €123,786 | -€2,847 | -2.2% |
| Remuneration and social security | 454/9 | €84,105 | €106,978 | +€22,873 | +27.2% |
| Other amounts payable | 47/48 | €4,808 | €4,808 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €1,068,292 | €1,209,456 | +€141,164 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,896 | €100,774 | -€37,122 | -26.9% |
| Other operating charges | 640/8 | €21,193 | €16,929 | -€4,264 | -20.1% |
| Gross operating margin | 9900 | €1,511,852 | €1,600,833 | +€88,981 | +5.9% |
| Operating profit (loss) | 9901 | €284,471 | €273,674 | -€10,797 | -3.8% |
| Financial income | 75/76B | €1 | €2,849 | +€2,848 | +284,800% |
| Recurring financial income | 75 | €1 | €2,849 | +€2,848 | +284,800% |
| Financial charges | 65/66B | €12,665 | €23,782 | +€11,117 | +87.8% |
| Recurring financial charges | 65 | €12,665 | €23,782 | +€11,117 | +87.8% |
| Profit (loss) for the period before taxes | 9903 | €271,807 | €252,741 | -€19,066 | -7.0% |
| Income taxes | 67/77 | €70,540 | €34,740 | -€35,800 | -50.8% |
| Profit (loss) for the period | 9904 | €201,267 | €218,001 | +€16,734 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €201,267 | €218,001 | +€16,734 | +8.3% |
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 14 October 2026 via checked.be.