TOOLSEN: 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
TOOLSEN
NACE 47.521, Retail sale of hardware, building materials, paint and glass (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€140,345
2024 · -€60,048-€80,298
Equity
€1.1m
2024 · €1.2m-€140,345
Cash
€109,416
2024 · €91,978+€17,438
Balance sheet total
€1.9m
2024 · €1.9m+€80,308
Largest movements
Assets
- Intangible fixed assets +€161,023
up €161,023 (+488.5%), from €32,960 to €193,982
- Receivables within one year -€53,006
down €53,006 (-14.1%), from €377,265 to €324,259
of which Other amounts receivable: -€58,729
- Stocks and contracts -€51,470
down €51,470 (-4.1%), from €1.2m to €1.2m
Equity and liabilities
- Reserves -€140,345
down €140,345 (-14.6%), from €964,508 to €824,163
of which Distributable reserves: -€140,345
- Debts after one year +€117,630
up €117,630 (+467.3%), from €25,173 to €142,803
- Other debts +€73,260
up €73,260 (+21.6%), from €339,179 to €412,439
- Tax, wage and social debts +€43,599
up €43,599 (+36.5%), from €119,588 to €163,188
of which Taxes: +€27,204
- Trade debts -€40,882
down €40,882 (-28.2%), from €144,886 to €104,004
Income statement
- Staff costs +€87,409
up €87,409 (+15.3%), from €571,792 to €659,201
- Gross operating margin +€48,154
up €48,154 (+9.5%), from €507,477 to €555,631
- Depreciation +€34,202
up €34,202 (+158.3%), from €21,611 to €55,813
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
-€60,048
Gross operating margin
+€48,154
Staff costs
-€87,409
Depreciation
-€34,202
Write-downs
-€2,971
Other operating charges
-€1,388
Other operating items
+€178
Financial income
+€468
Financial charges
-€2,891
Taxes
-€235
Result 2025
-€140,345
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
+€89,084
Investment
-€216,359
Financing
+€144,714
Cash 2024
€91,978
From operations (derived)
+€89,084
Net result for the year
-€140,345
Depreciation
+€55,813
Stocks and contracts
+€51,470
Receivables within one year
+€53,006
Deferred charges and accrued income
-€6,800
Trade debts
-€40,882
Tax, wage and social debts
+€43,599
Other debts
+€73,260
Accrued charges and deferred income
-€37
Investment (derived)
-€216,359
Investment in fixed assets (net)
-€216,359
Financing
+€144,714
Debts after one year
+€117,630
Current portion of long-term debt
+€35,538
Short-term financial debts
-€8,454
Cash 2025
€109,416
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,866,091 | €1,946,400 | +€80,308 | +4.3% |
| Formation expenses | 20 | €1,708 | €839 | -€868 | -50.8% |
| Fixed assets | 21/28 | €152,788 | €314,203 | +€161,415 | +105.6% |
| Intangible fixed assets | 21 | €32,960 | €193,982 | +€161,023 | +488.5% |
| Tangible fixed assets | 22/27 | €79,976 | €80,683 | +€707 | +0.9% |
| Plant, machinery and equipment | 23 | €48,938 | €57,267 | +€8,329 | +17.0% |
| Furniture and vehicles | 24 | €14,489 | €10,606 | -€3,882 | -26.8% |
| Other tangible fixed assets | 26 | €16,550 | €12,810 | -€3,740 | -22.6% |
| Financial fixed assets | 28 | €39,852 | €39,537 | -€315 | -0.8% |
| Current assets | 29/58 | €1,711,596 | €1,631,358 | -€80,238 | -4.7% |
| Stocks and contracts in progress | 3 | €1,242,073 | €1,190,604 | -€51,470 | -4.1% |
| Stocks | 30/36 | €1,242,073 | €1,190,604 | -€51,470 | -4.1% |
| Amounts receivable within one year | 40/41 | €377,265 | €324,259 | -€53,006 | -14.1% |
| Trade receivables | 40 | €318,143 | €323,867 | +€5,723 | +1.8% |
| Other amounts receivable | 41 | €59,121 | €392 | -€58,729 | -99.3% |
| Cash at bank and in hand | 54/58 | €91,978 | €109,416 | +€17,438 | +19.0% |
| Deferred charges and accrued income | 490/1 | €280 | €7,079 | +€6,800 | +2431.1% |
| Total equity and liabilities | 10/49 | €1,866,091 | €1,946,400 | +€80,308 | +4.3% |
| Equity | 10/15 | €1,214,316 | €1,073,970 | -€140,345 | -11.6% |
| Contributions | 10/11 | €249,808 | €249,808 | = | 0.0% |
| Capital | 10 | €249,808 | €249,808 | = | 0.0% |
| Issued capital | 100 | €249,808 | €249,808 | = | 0.0% |
| Reserves | 13 | €964,508 | €824,163 | -€140,345 | -14.6% |
| Non-distributable reserves | 130/1 | €24,981 | €24,981 | = | 0.0% |
| Legal reserve | 130 | €24,981 | €24,981 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,715 | €17,715 | = | 0.0% |
| Distributable reserves | 133 | €921,812 | €781,466 | -€140,345 | -15.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €651,776 | €872,429 | +€220,653 | +33.9% |
| Amounts payable after more than one year | 17 | €25,173 | €142,803 | +€117,630 | +467.3% |
| Financial debts | 170/4 | €25,173 | €142,803 | +€117,630 | +467.3% |
| Amounts payable within one year | 42/48 | €626,565 | €729,626 | +€103,060 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €14,458 | €49,996 | +€35,538 | +245.8% |
| Financial debts | 43 | €8,454 | €0 | -€8,454 | -100.0% |
| Credit institutions | 430/8 | €8,454 | €0 | -€8,454 | -100.0% |
| Trade debts | 44 | €144,886 | €104,004 | -€40,882 | -28.2% |
| Suppliers | 440/4 | €144,886 | €104,004 | -€40,882 | -28.2% |
| Taxes, remuneration and social security | 45 | €119,588 | €163,188 | +€43,599 | +36.5% |
| Taxes | 450/3 | €41,614 | €68,818 | +€27,204 | +65.4% |
| Remuneration and social security | 454/9 | €77,974 | €94,369 | +€16,395 | +21.0% |
| Other amounts payable | 47/48 | €339,179 | €412,439 | +€73,260 | +21.6% |
| Accrued charges and deferred income | 492/3 | €37 | €0 | -€37 | -100.0% |
| Non-recurring operating income | 76A | €2,565 | €2,032 | -€534 | -20.8% |
| Remuneration, social security and pensions | 62 | €571,792 | €659,201 | +€87,409 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,611 | €55,813 | +€34,202 | +158.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €2,971 | +€2,971 | |
| Other operating charges | 640/8 | €1,076 | €2,464 | +€1,388 | +129.0% |
| Non-recurring operating charges | 66A | €178 | €0 | -€178 | -100.0% |
| Gross operating margin | 9900 | €507,477 | €555,631 | +€48,154 | +9.5% |
| Operating profit (loss) | 9901 | -€87,179 | -€164,818 | -€77,639 | -89.1% |
| Financial income | 75/76B | €35,874 | €36,341 | +€468 | +1.3% |
| Recurring financial income | 75 | €35,874 | €36,341 | +€468 | +1.3% |
| Financial charges | 65/66B | €8,728 | €11,619 | +€2,891 | +33.1% |
| Recurring financial charges | 65 | €8,728 | €11,619 | +€2,891 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | -€60,033 | -€140,095 | -€80,062 | -133.4% |
| Income taxes | 67/77 | €15 | €250 | +€235 | +1600.5% |
| Profit (loss) for the period | 9904 | -€60,048 | -€140,345 | -€80,298 | -133.7% |
| Transfer from tax-exempt reserves | 789 | €15,507 | €0 | -€15,507 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,540 | -€140,345 | -€95,805 | -215.1% |
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 4 October 2026 via checked.be.