TOLU Management: 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.
TOLU Management
Largest movements
- Cash +€73,985
up €73,985 (+51.7%), from €143,039 to €217,025
mainly Net result for the year (+€60,094) and Receivables within one year (+€16,575)
- Receivables within one year -€16,575
down €16,575 (-44.1%), from €37,575 to €21,000
- Profit (loss) carried forward +€60,094
up €60,094 (+40.3%), from €148,957 to €209,051
- Accrued charges and deferred income -€3,611
no longer reported in 2025 (was €3,611)
- Gross operating margin -€7,899
down €7,899 (-8.8%), from €90,037 to €82,138
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 | €183,936 | €241,452 | +€57,517 | +31.3% |
| Fixed assets | 21/28 | €3,321 | €2,264 | -€1,057 | -31.8% |
| Tangible fixed assets | 22/27 | €3,321 | €2,264 | -€1,057 | -31.8% |
| Plant, machinery and equipment | 23 | €838 | €412 | -€426 | -50.8% |
| Furniture and vehicles | 24 | €2,483 | €1,852 | -€631 | -25.4% |
| Current assets | 29/58 | €180,615 | €239,188 | +€58,574 | +32.4% |
| Amounts receivable within one year | 40/41 | €37,575 | €21,000 | -€16,575 | -44.1% |
| Trade receivables | 40 | €37,575 | €21,000 | -€16,575 | -44.1% |
| Cash at bank and in hand | 54/58 | €143,039 | €217,025 | +€73,985 | +51.7% |
| Deferred charges and accrued income | 490/1 | - | €1,164 | +€1,164 | |
| Total equity and liabilities | 10/49 | €183,936 | €241,452 | +€57,517 | +31.3% |
| Equity | 10/15 | €151,957 | €212,051 | +€60,094 | +39.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,957 | €209,051 | +€60,094 | +40.3% |
| Amounts payable | 17/49 | €31,979 | €29,402 | -€2,577 | -8.1% |
| Amounts payable within one year | 42/48 | €28,368 | €29,402 | +€1,034 | +3.6% |
| Trade debts | 44 | €93 | €1,629 | +€1,536 | +1,660% |
| Suppliers | 440/4 | €93 | €1,629 | +€1,536 | +1,660% |
| Taxes, remuneration and social security | 45 | €28,275 | €27,773 | -€502 | -1.8% |
| Taxes | 450/3 | €28,275 | €27,773 | -€502 | -1.8% |
| Accrued charges and deferred income | 492/3 | €3,611 | - | -€3,611 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €1,057 | = | 0.0% |
| Other operating charges | 640/8 | €337 | €205 | -€132 | -39.2% |
| Gross operating margin | 9900 | €90,037 | €82,138 | -€7,899 | -8.8% |
| Operating profit (loss) | 9901 | €88,643 | €80,876 | -€7,767 | -8.8% |
| Financial charges | 65/66B | €3,533 | €3,618 | +€84 | +2.4% |
| Recurring financial charges | 65 | €3,533 | €3,618 | +€84 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €85,110 | €77,258 | -€7,852 | -9.2% |
| Income taxes | 67/77 | €17,782 | €17,164 | -€617 | -3.5% |
| Profit (loss) for the period | 9904 | €67,328 | €60,094 | -€7,234 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €67,328 | €60,094 | -€7,234 | -10.7% |
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 17 October 2026 via checked.be.