TOMTREE: what changed
Two fiscal 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.
What changed
TOMTREE
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10.7m
2024 · €17.6m-€6.9m
Equity
€53.1m
2024 · €54.4m-€1.3m
Cash
€2.2m
2024 · €3.3m-€1.1m
Balance sheet total
€67.2m
2024 · €65.4m+€1.8m
Largest movements
Assets
- Financial fixed assets +€4.8m
up €4.8m (+16.2%), from €29.5m to €34.3m
of which Affiliated companies: +€6.4m
- Receivables within one year -€2.1m
down €2.1m (-35.3%), from €6.0m to €3.9m
of which Other amounts receivable: -€2.2m
- Cash -€1.1m
down €1.1m (-33.8%), from €3.3m to €2.2m
mainly Contributions, distributions and other (-€12.0m) and Investment in fixed assets (net) (-€4.8m)
- Current investments -€768,916
down €768,916 (-6.0%), from €12.9m to €12.1m
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+20.0%), from €10.0m to €12.0m
- Reserves -€1.3m
down €1.3m (-2.7%), from €48.0m to €46.7m
- Debts after one year +€874,797
up €874,797, from €0 to €874,797
Income statement
- Financial income -€6.8m
down €6.8m (-35.9%), from €18.8m to €12.1m
of which Non-recurring financial income: -€7.4m
- Financial charges +€165,417
up €165,417 (+47.0%), from €351,802 to €517,219
of which Financial charges: +€365,317
- Turnover -€145,620
down €145,620 (-27.5%), from €528,827 to €383,207
- Services and other goods -€135,350
down €135,350 (-15.5%), from €873,379 to €738,029
- Taxes -€99,327
down €99,327 (-23.9%), from €415,084 to €315,757
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.
Result 2024
€17.6m
Turnover
-€145,620
Other operating income
-€7,720
Services and other goods
+€135,350
Staff costs
-€12,681
Depreciation
-€1,334
Other operating charges
+€2,179
Other operating items
-€63,143
Financial income
-€6.8m
Financial charges
-€165,417
Taxes
+€99,327
Result 2025
€10.7m
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.
From operations
+€13.6m
Investment
-€4.0m
Financing
-€10.6m
Cash 2024
€3.3m
From operations (derived)
+€13.6m
Net result for the year
+€10.7m
Depreciation
+€153,399
Receivables after one year
-€531,690
Receivables within one year
+€2.1m
Deferred charges and accrued income
-€572,287
Trade debts
-€39,462
Tax, wage and social debts
-€266,474
Other debts
+€2.0m
Accrued charges and deferred income
-€1,219
Investment (derived)
-€4.0m
Investment in fixed assets (net)
-€4.8m
Current investments
+€768,916
Financing
-€10.6m
Debts after one year
+€874,797
Current portion of long-term debt
+€517,654
Contributions, distributions and other
-€12.0m
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €65,368,240 | €67,158,733 | +€1.8m | +2.7% |
| Fixed assets | 21/28 | €31,871,296 | €36,536,166 | +€4.7m | +14.6% |
| Intangible fixed assets | 21 | €1,861 | €1,554 | -€307 | -16.5% |
| Tangible fixed assets | 22/27 | €2,389,677 | €2,277,513 | -€112,164 | -4.7% |
| Land and buildings | 22 | €50,350 | €83,626 | +€33,276 | +66.1% |
| Plant, machinery and equipment | 23 | €3,689 | €1,022 | -€2,667 | -72.3% |
| Furniture and vehicles | 24 | €760,398 | €751,302 | -€9,096 | -1.2% |
| Other tangible fixed assets | 26 | €1,575,240 | €1,441,564 | -€133,676 | -8.5% |
| Financial fixed assets | 28 | €29,479,759 | €34,257,099 | +€4.8m | +16.2% |
| Affiliated companies | 280/1 | €27,283,562 | €33,732,552 | +€6.4m | +23.6% |
| Participating interests | 280 | €16,139,040 | €22,588,030 | +€6.4m | +40.0% |
| Amounts receivable | 281 | €11,144,522 | €11,144,522 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €2,196,197 | €524,547 | -€1.7m | -76.1% |
| Participating interests | 282 | €1,340,827 | €524,547 | -€816,280 | -60.9% |
| Amounts receivable | 283 | €855,370 | €0 | -€855,370 | -100.0% |
| Current assets | 29/58 | €33,496,944 | €30,622,567 | -€2.9m | -8.6% |
| Amounts receivable after more than one year | 29 | €9,556,537 | €10,088,227 | +€531,690 | +5.6% |
| Other amounts receivable | 291 | €9,556,537 | €10,088,227 | +€531,690 | +5.6% |
| Stocks and contracts in progress | 3 | €175,878 | €175,878 | = | 0.0% |
| Stocks | 30/36 | €175,878 | €175,878 | = | 0.0% |
| Goods purchased for resale | 34 | €175,878 | €175,878 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,965,583 | €3,861,320 | -€2.1m | -35.3% |
| Trade receivables | 40 | €7,200 | €126,918 | +€119,718 | +1662.8% |
| Other amounts receivable | 41 | €5,958,383 | €3,734,402 | -€2.2m | -37.3% |
| Current investments | 50/53 | €12,875,504 | €12,106,588 | -€768,916 | -6.0% |
| Other investments | 51/53 | €12,875,504 | €12,106,588 | -€768,916 | -6.0% |
| Cash at bank and in hand | 54/58 | €3,273,074 | €2,167,900 | -€1.1m | -33.8% |
| Deferred charges and accrued income | 490/1 | €1,650,367 | €2,222,654 | +€572,287 | +34.7% |
| Total equity and liabilities | 10/49 | €65,368,240 | €67,158,733 | +€1.8m | +2.7% |
| Equity | 10/15 | €54,373,987 | €53,078,223 | -€1.3m | -2.4% |
| Contributions | 10/11 | €6,376,400 | €6,376,400 | = | 0.0% |
| Reserves | 13 | €47,997,587 | €46,701,823 | -€1.3m | -2.7% |
| Distributable reserves | 133 | €47,997,587 | €46,701,823 | -€1.3m | -2.7% |
| Amounts payable | 17/49 | €10,994,253 | €14,080,510 | +€3.1m | +28.1% |
| Amounts payable after more than one year | 17 | €0 | €874,797 | +€874,797 | |
| Financial debts | 170/4 | €0 | €874,797 | +€874,797 | |
| Credit institutions | 173 | €0 | - | = | |
| Other loans | 174 | - | €874,797 | +€874,797 | |
| Amounts payable within one year | 42/48 | €10,739,490 | €12,952,170 | +€2.2m | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €357,143 | €874,797 | +€517,654 | +144.9% |
| Trade debts | 44 | €78,002 | €38,540 | -€39,462 | -50.6% |
| Suppliers | 440/4 | €78,002 | €38,540 | -€39,462 | -50.6% |
| Taxes, remuneration and social security | 45 | €303,809 | €37,335 | -€266,474 | -87.7% |
| Taxes | 450/3 | €301,666 | €34,654 | -€267,012 | -88.5% |
| Remuneration and social security | 454/9 | €2,143 | €2,681 | +€538 | +25.1% |
| Other amounts payable | 47/48 | €10,000,536 | €12,001,498 | +€2.0m | +20.0% |
| Accrued charges and deferred income | 492/3 | €254,763 | €253,544 | -€1,219 | -0.5% |
| Operating income | 70/76A | €624,474 | €407,991 | -€216,483 | -34.7% |
| Turnover | 70 | €528,827 | €383,207 | -€145,620 | -27.5% |
| Other operating income | 74 | €32,504 | €24,784 | -€7,720 | -23.8% |
| Non-recurring operating income | 76A | €63,143 | €0 | -€63,143 | -100.0% |
| Operating charges | 60/66A | €1,048,239 | €924,725 | -€123,514 | -11.8% |
| Services and other goods | 61 | €873,379 | €738,029 | -€135,350 | -15.5% |
| Remuneration, social security and pensions | 62 | €16,816 | €29,497 | +€12,681 | +75.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €152,065 | €153,399 | +€1,334 | +0.9% |
| Other operating charges | 640/8 | €5,979 | €3,800 | -€2,179 | -36.4% |
| Operating profit (loss) | 9901 | -€423,765 | -€516,734 | -€92,969 | -21.9% |
| Financial income | 75/76B | €18,814,599 | €12,053,946 | -€6.8m | -35.9% |
| Recurring financial income | 75 | €11,383,757 | €12,053,946 | +€670,190 | +5.9% |
| Income from financial fixed assets | 750 | €8,770,000 | €10,121,500 | +€1.4m | +15.4% |
| Income from current assets | 751 | €1,579,495 | €1,484,515 | -€94,980 | -6.0% |
| Other financial income | 752/9 | €1,034,262 | €447,932 | -€586,330 | -56.7% |
| Non-recurring financial income | 76B | €7,430,843 | €0 | -€7.4m | -100.0% |
| Financial charges | 65/66B | €351,802 | €517,219 | +€165,417 | +47.0% |
| Recurring financial charges | 65 | €151,902 | €517,219 | +€365,317 | +240.5% |
| Debt charges | 650 | €10,677 | €5,512 | -€5,165 | -48.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€60,559 | €0 | +€60,559 | |
| Other financial charges | 652/9 | €201,784 | €511,707 | +€309,924 | +153.6% |
| Non-recurring financial charges | 66B | €199,900 | €0 | -€199,900 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €18,039,032 | €11,019,993 | -€7.0m | -38.9% |
| Income taxes | 67/77 | €415,084 | €315,757 | -€99,327 | -23.9% |
| Taxes | 670/3 | €415,084 | €315,757 | -€99,327 | -23.9% |
| Profit (loss) for the period | 9904 | €17,623,948 | €10,704,236 | -€6.9m | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,623,948 | €10,704,236 | -€6.9m | -39.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.