TOQUA: 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.
TOQUA
Largest movements
- Receivables within one year +€324,004
up €324,004 (+293%), from €110,505 to €434,509
of which Other amounts receivable: +€210,434
- Intangible fixed assets +€171,593
up €171,593 (+40.8%), from €420,447 to €592,039
- Investment grants +€273,435
up €273,435 (+108%), from €253,122 to €526,557
- Accrued charges and deferred income -€175,902
down €175,902 (-59.6%), from €294,947 to €119,045
- Profit (loss) carried forward +€149,256
up €149,256 (+42.3%), from -€352,964 to -€203,708
- Debts after one year +€145,541
up €145,541 (+72.8%), from €200,000 to €345,541
- Current portion of long-term debt +€54,459
new in 2025: €54,459
- Gross operating margin +€217,067
up €217,067 (+49.4%), from €439,722 to €656,789
- Staff costs +€102,731
up €102,731 (+22.7%), from €453,530 to €556,261
- Depreciation +€15,710
up €15,710 (+12.4%), from €126,875 to €142,586
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 | €890,698 | €1,395,981 | +€505,284 | +56.7% |
| Fixed assets | 21/28 | €425,243 | €599,458 | +€174,215 | +41.0% |
| Intangible fixed assets | 21 | €420,447 | €592,039 | +€171,593 | +40.8% |
| Tangible fixed assets | 22/27 | €3,908 | €3,718 | -€190 | -4.9% |
| Furniture and vehicles | 24 | €3,908 | €3,718 | -€190 | -4.9% |
| Financial fixed assets | 28 | €888 | €3,701 | +€2,813 | +317% |
| Current assets | 29/58 | €465,455 | €796,523 | +€331,068 | +71.1% |
| Amounts receivable within one year | 40/41 | €110,505 | €434,509 | +€324,004 | +293% |
| Trade receivables | 40 | €10,400 | €123,970 | +€113,570 | +1,092% |
| Other amounts receivable | 41 | €100,105 | €310,539 | +€210,434 | +210% |
| Cash at bank and in hand | 54/58 | €341,106 | €351,766 | +€10,660 | +3.1% |
| Deferred charges and accrued income | 490/1 | €13,844 | €10,248 | -€3,597 | -26.0% |
| Total equity and liabilities | 10/49 | €890,698 | €1,395,981 | +€505,284 | +56.7% |
| Equity | 10/15 | €290,316 | €713,008 | +€422,692 | +146% |
| Contributions | 10/11 | €390,158 | €390,158 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€352,964 | -€203,708 | +€149,256 | +42.3% |
| Investment grants | 15 | €253,122 | €526,557 | +€273,435 | +108% |
| Amounts payable | 17/49 | €600,382 | €682,974 | +€82,592 | +13.8% |
| Amounts payable after more than one year | 17 | €200,000 | €345,541 | +€145,541 | +72.8% |
| Financial debts | 170/4 | €200,000 | €345,541 | +€145,541 | +72.8% |
| Amounts payable within one year | 42/48 | €105,435 | €218,388 | +€112,953 | +107% |
| Current portion of amounts payable after more than one year | 42 | - | €54,459 | +€54,459 | |
| Trade debts | 44 | €24,703 | €49,547 | +€24,844 | +101% |
| Suppliers | 440/4 | €24,703 | €49,547 | +€24,844 | +101% |
| Taxes, remuneration and social security | 45 | €80,625 | €112,243 | +€31,618 | +39.2% |
| Taxes | 450/3 | €7,153 | €9,064 | +€1,912 | +26.7% |
| Remuneration and social security | 454/9 | €73,472 | €103,179 | +€29,706 | +40.4% |
| Other amounts payable | 47/48 | €106 | €2,138 | +€2,032 | +1,919% |
| Accrued charges and deferred income | 492/3 | €294,947 | €119,045 | -€175,902 | -59.6% |
| Remuneration, social security and pensions | 62 | €453,530 | €556,261 | +€102,731 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,875 | €142,586 | +€15,710 | +12.4% |
| Other operating charges | 640/8 | €1,343 | €632 | -€711 | -53.0% |
| Non-recurring operating charges | 66A | €2,484 | €0 | -€2,484 | -100% |
| Gross operating margin | 9900 | €439,722 | €656,789 | +€217,067 | +49.4% |
| Operating profit (loss) | 9901 | -€144,510 | -€42,689 | +€101,822 | +70.5% |
| Financial income | 75/76B | €216,256 | €211,439 | -€4,817 | -2.2% |
| Recurring financial income | 75 | €216,256 | €211,439 | -€4,817 | -2.2% |
| Financial charges | 65/66B | €17,773 | €20,746 | +€2,973 | +16.7% |
| Recurring financial charges | 65 | €17,773 | €20,746 | +€2,973 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €53,973 | €148,004 | +€94,031 | +174% |
| Income taxes | 67/77 | €0 | -€1,252 | -€1,252 | |
| Profit (loss) for the period | 9904 | €53,973 | €149,256 | +€95,283 | +177% |
| Profit (loss) for the period to be appropriated | 9905 | €53,973 | €149,256 | +€95,283 | +177% |
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 16 October 2026 via checked.be.