TONIGROS: 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.
TONIGROS
Largest movements
- Financial fixed assets +€4.6m
up €4.6m (+152%), from €3.0m to €7.7m
- Cash -€1.9m
down €1.9m (-83.2%), from €2.3m to €389,300
mainly Investment in fixed assets (net) (-€4.7m) and Receivables within one year (-€447,812)
- Receivables after one year -€989,760
down €989,760 (-29.7%), from €3.3m to €2.3m
- Receivables within one year +€447,812
up €447,812 (+53.9%), from €830,189 to €1.3m
of which Other amounts receivable: +€453,983
- Current investments -€313,630
down €313,630 (-3.9%), from €7.9m to €7.6m
- Reserves +€1.7m
up €1.7m (+17.0%), from €10.3m to €12.0m
of which Distributable reserves: +€1.6m
- Financial income -€3.7m
down €3.7m (-78.2%), from €4.7m to €1.0m
of which Financial income: -€3.8m
- Gross operating margin +€1.4m
up €1.4m, from -€47,287 to €1.3m
- Taxes +€184,292
up €184,292 (+47.8%), from €385,182 to €569,474
- Financial charges -€28,678
down €28,678 (-98.4%), from €29,158 to €480
- Depreciation +€14,545
up €14,545 (+132%), from €11,020 to €25,565
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 | €18,396,691 | €20,187,867 | +€1.8m | +9.7% |
| Fixed assets | 21/28 | €3,647,738 | €8,355,729 | +€4.7m | +129% |
| Tangible fixed assets | 22/27 | €602,359 | €666,812 | +€64,454 | +10.7% |
| Land and buildings | 22 | €601,882 | €587,418 | -€14,464 | -2.4% |
| Plant, machinery and equipment | 23 | - | €2,438 | +€2,438 | |
| Furniture and vehicles | 24 | €477 | €76,957 | +€76,480 | +16,039% |
| Financial fixed assets | 28 | €3,045,379 | €7,688,916 | +€4.6m | +152% |
| Current assets | 29/58 | €14,748,953 | €11,832,139 | -€2.9m | -19.8% |
| Amounts receivable after more than one year | 29 | €3,329,520 | €2,339,760 | -€989,760 | -29.7% |
| Other amounts receivable | 291 | €3,329,520 | €2,339,760 | -€989,760 | -29.7% |
| Amounts receivable within one year | 40/41 | €830,189 | €1,278,001 | +€447,812 | +53.9% |
| Trade receivables | 40 | €13,431 | €7,260 | -€6,171 | -45.9% |
| Other amounts receivable | 41 | €816,758 | €1,270,741 | +€453,983 | +55.6% |
| Current investments | 50/53 | €7,942,162 | €7,628,532 | -€313,630 | -3.9% |
| Cash at bank and in hand | 54/58 | €2,312,550 | €389,300 | -€1.9m | -83.2% |
| Deferred charges and accrued income | 490/1 | €334,531 | €196,546 | -€137,986 | -41.2% |
| Total equity and liabilities | 10/49 | €18,396,691 | €20,187,867 | +€1.8m | +9.7% |
| Equity | 10/15 | €17,885,097 | €19,625,517 | +€1.7m | +9.7% |
| Contributions | 10/11 | €7,614,000 | €7,614,000 | = | 0.0% |
| Reserves | 13 | €10,253,518 | €11,993,938 | +€1.7m | +17.0% |
| Tax-exempt reserves | 132 | €1,263,000 | €1,410,350 | +€147,350 | +11.7% |
| Distributable reserves | 133 | €8,990,518 | €10,583,588 | +€1.6m | +17.7% |
| Profit (loss) carried forward | 14 | €17,579 | €17,579 | = | 0.0% |
| Amounts payable | 17/49 | €511,593 | €562,350 | +€50,757 | +9.9% |
| Amounts payable within one year | 42/48 | €505,410 | €556,864 | +€51,454 | +10.2% |
| Trade debts | 44 | €17,300 | €19,764 | +€2,463 | +14.2% |
| Suppliers | 440/4 | €17,300 | €19,764 | +€2,463 | +14.2% |
| Taxes, remuneration and social security | 45 | €463,901 | €336,072 | -€127,828 | -27.6% |
| Taxes | 450/3 | €463,901 | €336,072 | -€127,828 | -27.6% |
| Other amounts payable | 47/48 | €24,209 | €201,028 | +€176,819 | +730% |
| Accrued charges and deferred income | 492/3 | €6,183 | €5,486 | -€697 | -11.3% |
| Non-recurring operating income | 76A | - | €16,000 | +€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,020 | €25,565 | +€14,545 | +132% |
| Other operating charges | 640/8 | €4,117 | €10,379 | +€6,262 | +152% |
| Gross operating margin | 9900 | -€47,287 | €1,323,421 | +€1.4m | |
| Operating profit (loss) | 9901 | -€62,423 | €1,287,477 | +€1.3m | |
| Financial income | 75/76B | €4,687,118 | €1,022,898 | -€3.7m | -78.2% |
| Recurring financial income | 75 | €4,687,118 | €850,054 | -€3.8m | -81.9% |
| Non-recurring financial income | 76B | - | €172,843 | +€172,843 | |
| Financial charges | 65/66B | €29,158 | €480 | -€28,678 | -98.4% |
| Recurring financial charges | 65 | €29,158 | €480 | -€28,678 | -98.4% |
| Profit (loss) for the period before taxes | 9903 | €4,595,536 | €2,309,894 | -€2.3m | -49.7% |
| Income taxes | 67/77 | €385,182 | €569,474 | +€184,292 | +47.8% |
| Profit (loss) for the period | 9904 | €4,210,355 | €1,740,420 | -€2.5m | -58.7% |
| Transfer from tax-exempt reserves | 789 | €356,000 | €505,200 | +€149,200 | +41.9% |
| Transfer to tax-exempt reserves | 689 | €1,619,000 | €652,550 | -€966,450 | -59.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,947,355 | €1,593,070 | -€1.4m | -45.9% |
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 25 October 2026 via checked.be.