TOO' GEZER: 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.
What changed
TOO' GEZER
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€72.1m
2024 · -€51.9m-€20.2m
Equity
-€95.1m
2024 · -€23.0m-€72.1m
Cash
€372,450
2024 · €2.8m-€2.4m
Balance sheet total
€347.4m
2024 · €423.2m-€75.8m
Largest movements
Assets
- Receivables within one year -€72.3m
down €72.3m (-63.2%), from €114.4m to €42.2m
of which Other amounts receivable: -€72.5m
- Receivables after one year -€21.7m
down €21.7m (-31.1%), from €69.6m to €48.0m
- Current investments +€16.3m
up €16.3m (+8.5%), from €191.7m to €208.0m
- Financial fixed assets +€6.2m
up €6.2m (+14.7%), from €42.5m to €48.7m
of which Other financial fixed assets: +€8.3m
Equity and liabilities
- Profit (loss) carried forward -€72.1m
down €72.1m (-86.6%), from -€83.3m to -€155.4m
- Debts after one year -€10.1m
down €10.1m (-7.0%), from €145.8m to €135.7m
of which Financial debts: -€9.7m
Income statement
- Financial charges +€32.3m
up €32.3m (+54.3%), from €59.4m to €91.7m
of which Non-recurring financial charges: +€32.6m
- Financial income +€11.9m
up €11.9m (+102%), from €11.7m to €23.6m
of which Financial income: +€6.6m
- Write-downs -€400,000
down €400,000 (-100%), from €400,000 to €0
- Services and other goods +€307,586
up €307,586 (+37.4%), from €823,348 to €1.1m
- Turnover +€70,000
up €70,000 (+26.7%), from €262,000 to €332,000
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
-€51.9m
Turnover
+€70,000
Other operating income
+€734
Services and other goods
-€307,586
Staff costs
-€30,202
Depreciation
-€86
Write-downs
+€400,000
Other operating charges
+€3,833
Financial income
+€11.9m
Financial charges
-€32.3m
Taxes
-€15,939
Result 2025
-€72.1m
raises the resultlowers the result
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.
From operations
+€30.3m
Investment
-€22.6m
Financing
-€10.1m
Cash 2024
€2.8m
From operations (derived)
+€30.3m
Net result for the year
-€72.1m
Depreciation
+€86
Receivables after one year
+€21.7m
Receivables within one year
+€72.3m
Deferred charges and accrued income
+€2.0m
Provisions
+€3.0m
Smaller working-capital items
+€117,721
Other debts
+€2.4m
Accrued charges and deferred income
+€842,205
Investment (derived)
-€22.6m
Investment in fixed assets (net)
-€6.2m
Current investments
-€16.3m
Financing
-€10.1m
Debts after one year
-€10.1m
Short-term financial debts
+€48,421
Cash 2025
€372,450
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €423,164,285 | €347,358,064 | -€75.8m | -17.9% |
| Fixed assets | 21/28 | €42,461,005 | €48,702,005 | +€6.2m | +14.7% |
| Tangible fixed assets | 22/27 | - | €1,022 | +€1,022 | |
| Furniture and vehicles | 24 | - | €1,022 | +€1,022 | |
| Financial fixed assets | 28 | €42,461,005 | €48,700,983 | +€6.2m | +14.7% |
| Affiliated companies | 280/1 | €19,365,649 | €19,080,172 | -€285,477 | -1.5% |
| Participating interests | 280 | €19,365,649 | €19,080,172 | -€285,477 | -1.5% |
| Companies linked by participating interests | 282/3 | €1,744,208 | €0 | -€1.7m | -100% |
| Participating interests | 282 | €949,000 | €0 | -€949,000 | -100% |
| Amounts receivable | 283 | €795,208 | €0 | -€795,208 | -100% |
| Other financial fixed assets | 284/8 | €21,351,148 | €29,620,811 | +€8.3m | +38.7% |
| Shares | 284 | €21,351,148 | €29,620,811 | +€8.3m | +38.7% |
| Current assets | 29/58 | €380,703,280 | €298,656,059 | -€82.0m | -21.6% |
| Amounts receivable after more than one year | 29 | €69,628,637 | €47,957,028 | -€21.7m | -31.1% |
| Other amounts receivable | 291 | €69,628,637 | €47,957,028 | -€21.7m | -31.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €114,421,941 | €42,150,925 | -€72.3m | -63.2% |
| Trade receivables | 40 | €266,520 | €479,300 | +€212,780 | +79.8% |
| Other amounts receivable | 41 | €114,155,421 | €41,671,625 | -€72.5m | -63.5% |
| Current investments | 50/53 | €191,675,361 | €208,000,274 | +€16.3m | +8.5% |
| Other investments | 51/53 | €191,675,361 | €208,000,274 | +€16.3m | +8.5% |
| Cash at bank and in hand | 54/58 | €2,760,457 | €372,450 | -€2.4m | -86.5% |
| Deferred charges and accrued income | 490/1 | €2,216,884 | €175,383 | -€2.0m | -92.1% |
| Total equity and liabilities | 10/49 | €423,164,285 | €347,358,064 | -€75.8m | -17.9% |
| Equity | 10/15 | -€22,993,278 | -€95,097,698 | -€72.1m | -314% |
| Contributions | 10/11 | €60,261,973 | €60,261,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,255,252 | -€155,359,671 | -€72.1m | -86.6% |
| Provisions and deferred taxes | 16 | €3,000,000 | €6,000,000 | +€3.0m | +100% |
| Provisions for liabilities and charges | 160/5 | €3,000,000 | €6,000,000 | +€3.0m | +100% |
| Other liabilities and charges | 164/5 | €3,000,000 | €6,000,000 | +€3.0m | +100% |
| Amounts payable | 17/49 | €443,157,563 | €436,455,762 | -€6.7m | -1.5% |
| Amounts payable after more than one year | 17 | €145,813,564 | €135,673,564 | -€10.1m | -7.0% |
| Financial debts | 170/4 | €117,593,564 | €107,893,564 | -€9.7m | -8.2% |
| Credit institutions | 173 | €117,593,564 | €107,893,564 | -€9.7m | -8.2% |
| Other amounts payable | 178/9 | €28,220,000 | €27,780,000 | -€440,000 | -1.6% |
| Amounts payable within one year | 42/48 | €295,010,949 | €297,606,943 | +€2.6m | +0.9% |
| Financial debts | 43 | €36,275,794 | €36,324,215 | +€48,421 | +0.1% |
| Credit institutions | 430/8 | €36,275,794 | €36,324,215 | +€48,421 | +0.1% |
| Trade debts | 44 | €203,710 | €343,828 | +€140,118 | +68.8% |
| Suppliers | 440/4 | €203,710 | €343,828 | +€140,118 | +68.8% |
| Taxes, remuneration and social security | 45 | €24,489 | €2,092 | -€22,397 | -91.5% |
| Taxes | 450/3 | €24,455 | €2,058 | -€22,397 | -91.6% |
| Remuneration and social security | 454/9 | €34 | €34 | = | 0.0% |
| Other amounts payable | 47/48 | €258,506,956 | €260,936,807 | +€2.4m | +0.9% |
| Accrued charges and deferred income | 492/3 | €2,333,050 | €3,175,256 | +€842,205 | +36.1% |
| Operating income | 70/76A | €263,574 | €334,308 | +€70,734 | +26.8% |
| Turnover | 70 | €262,000 | €332,000 | +€70,000 | +26.7% |
| Other operating income | 74 | €1,574 | €2,308 | +€734 | +46.6% |
| Operating charges | 60/66A | €4,386,762 | €4,320,802 | -€65,960 | -1.5% |
| Services and other goods | 61 | €823,348 | €1,130,934 | +€307,586 | +37.4% |
| Remuneration, social security and pensions | 62 | €159,581 | €189,783 | +€30,202 | +18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €86 | +€86 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €400,000 | €0 | -€400,000 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €3,000,000 | €3,000,000 | = | 0.0% |
| Other operating charges | 640/8 | €3,833 | €0 | -€3,833 | -100% |
| Operating profit (loss) | 9901 | -€4,123,188 | -€3,986,494 | +€136,694 | +3.3% |
| Financial income | 75/76B | €11,660,255 | €23,606,433 | +€11.9m | +102% |
| Recurring financial income | 75 | €11,029,755 | €17,625,664 | +€6.6m | +59.8% |
| Income from financial fixed assets | 750 | €9,225 | €71,845 | +€62,620 | +679% |
| Income from current assets | 751 | €5,311,668 | €4,176,793 | -€1.1m | -21.4% |
| Other financial income | 752/9 | €5,708,862 | €13,377,027 | +€7.7m | +134% |
| Non-recurring financial income | 76B | €630,500 | €5,980,769 | +€5.4m | +849% |
| Financial charges | 65/66B | €59,444,437 | €91,708,357 | +€32.3m | +54.3% |
| Recurring financial charges | 65 | €10,596,755 | €10,226,454 | -€370,301 | -3.5% |
| Debt charges | 650 | €7,534,879 | €7,028,244 | -€506,634 | -6.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €2,608,073 | €2,799,415 | +€191,342 | +7.3% |
| Other financial charges | 652/9 | €453,803 | €398,794 | -€55,009 | -12.1% |
| Non-recurring financial charges | 66B | €48,847,683 | €81,481,903 | +€32.6m | +66.8% |
| Profit (loss) for the period before taxes | 9903 | -€51,907,370 | -€72,088,418 | -€20.2m | -38.9% |
| Income taxes | 67/77 | €62 | €16,001 | +€15,939 | +25,733% |
| Taxes | 670/3 | €62 | €16,001 | +€15,939 | +25,733% |
| Profit (loss) for the period | 9904 | -€51,907,432 | -€72,104,419 | -€20.2m | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,907,432 | -€72,104,419 | -€20.2m | -38.9% |
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 26 October 2026 via checked.be.