Tor Bay: 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.
Tor Bay
Largest movements
- Stocks and contracts +€127,492
up €127,492 (+86.3%), from €147,799 to €275,291
- Cash +€106,343
up €106,343 (+292.2%), from €36,399 to €142,742
mainly Short-term financial debts (+€120,149) and Net result for the year (+€105,274)
- Receivables within one year +€26,557
up €26,557 (+399.1%), from €6,655 to €33,212
- Short-term financial debts +€120,149
up €120,149 (+77.1%), from €155,881 to €276,031
of which Credit institutions: +€120,149
- Profit (loss) carried forward +€104,441
up €104,441 (+690.0%), from €15,135 to €119,576
- Tax, wage and social debts +€33,019
up €33,019 (+375.9%), from €8,784 to €41,803
- Gross operating margin +€113,411
up €113,411 (+541.3%), from €20,953 to €134,364
- Taxes +€24,426
up €24,426 (+610.9%), from €3,999 to €28,425
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,901 | €452,068 | +€260,167 | +135.6% |
| Fixed assets | 21/28 | €1,048 | €823 | -€225 | -21.5% |
| Tangible fixed assets | 22/27 | €1,048 | €823 | -€225 | -21.5% |
| Plant, machinery and equipment | 23 | €1,048 | €823 | -€225 | -21.5% |
| Current assets | 29/58 | €190,853 | €451,245 | +€260,392 | +136.4% |
| Stocks and contracts in progress | 3 | €147,799 | €275,291 | +€127,492 | +86.3% |
| Stocks | 30/36 | €147,799 | €275,291 | +€127,492 | +86.3% |
| Amounts receivable within one year | 40/41 | €6,655 | €33,212 | +€26,557 | +399.1% |
| Trade receivables | 40 | €6,655 | €33,212 | +€26,557 | +399.1% |
| Cash at bank and in hand | 54/58 | €36,399 | €142,742 | +€106,343 | +292.2% |
| Total equity and liabilities | 10/49 | €191,901 | €452,068 | +€260,167 | +135.6% |
| Equity | 10/15 | €25,135 | €129,576 | +€104,441 | +415.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,135 | €119,576 | +€104,441 | +690.0% |
| Amounts payable | 17/49 | €166,766 | €322,491 | +€155,726 | +93.4% |
| Amounts payable within one year | 42/48 | €165,912 | €322,491 | +€156,579 | +94.4% |
| Financial debts | 43 | €155,881 | €276,031 | +€120,149 | +77.1% |
| Credit institutions | 430/8 | €124,481 | €244,631 | +€120,149 | +96.5% |
| Other loans | 439 | €31,400 | €31,400 | = | 0.0% |
| Trade debts | 44 | €387 | €3,825 | +€3,437 | +887.4% |
| Suppliers | 440/4 | €387 | €3,825 | +€3,437 | +887.4% |
| Taxes, remuneration and social security | 45 | €8,784 | €41,803 | +€33,019 | +375.9% |
| Taxes | 450/3 | €8,784 | €41,803 | +€33,019 | +375.9% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Accrued charges and deferred income | 492/3 | €854 | €0 | -€854 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77 | €225 | +€148 | +191.8% |
| Other operating charges | 640/8 | €822 | €400 | -€422 | -51.4% |
| Gross operating margin | 9900 | €20,953 | €134,364 | +€113,411 | +541.3% |
| Operating profit (loss) | 9901 | €20,054 | €133,739 | +€113,685 | +566.9% |
| Financial charges | 65/66B | €61 | €40 | -€20 | -33.6% |
| Recurring financial charges | 65 | €61 | €40 | -€20 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €19,993 | €133,699 | +€113,706 | +568.7% |
| Income taxes | 67/77 | €3,999 | €28,425 | +€24,426 | +610.9% |
| Profit (loss) for the period | 9904 | €15,994 | €105,274 | +€89,280 | +558.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,994 | €105,274 | +€89,280 | +558.2% |
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.