TORAND: 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.
TORAND
Largest movements
- Financial fixed assets +€63,000
up €63,000 (+48.7%), from €129,476 to €192,476
- Receivables within one year -€15,253
down €15,253 (-97.6%), from €15,630 to €377
of which Trade receivables: -€15,580
- Tangible fixed assets -€11,117
down €11,117 (-20.2%), from €54,949 to €43,832
of which Furniture and vehicles: -€13,103
- Cash -€6,139
down €6,139 (-17.4%), from €35,330 to €29,191
mainly Contributions, distributions and other (-€155,157) and Investment in fixed assets (net) (-€65,009)
- Other debts +€131,363
up €131,363 (+552%), from €23,794 to €155,157
- Reserves -€69,158
down €69,158 (-60.1%), from €115,040 to €45,882
- Tax, wage and social debts -€18,433
down €18,433 (-73.7%), from €25,001 to €6,568
- Debts after one year -€10,909
down €10,909 (-29.1%), from €37,508 to €26,599
- Gross operating margin +€31,291
up €31,291 (+35.3%), from €88,666 to €119,958
- Financial income +€5,110
up €5,110 (+109%), from €4,690 to €9,800
- Taxes +€5,086
up €5,086 (+24.3%), from €20,907 to €25,993
- Depreciation +€3,091
up €3,091 (+30.8%), from €10,035 to €13,126
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 | €235,874 | €268,398 | +€32,524 | +13.8% |
| Fixed assets | 21/28 | €184,425 | €236,308 | +€51,883 | +28.1% |
| Tangible fixed assets | 22/27 | €54,949 | €43,832 | -€11,117 | -20.2% |
| Plant, machinery and equipment | 23 | - | €1,986 | +€1,986 | |
| Furniture and vehicles | 24 | €54,949 | €41,846 | -€13,103 | -23.8% |
| Financial fixed assets | 28 | €129,476 | €192,476 | +€63,000 | +48.7% |
| Current assets | 29/58 | €51,450 | €32,090 | -€19,359 | -37.6% |
| Amounts receivable within one year | 40/41 | €15,630 | €377 | -€15,253 | -97.6% |
| Trade receivables | 40 | €15,580 | €0 | -€15,580 | -100% |
| Other amounts receivable | 41 | €50 | €377 | +€327 | +653% |
| Cash at bank and in hand | 54/58 | €35,330 | €29,191 | -€6,139 | -17.4% |
| Deferred charges and accrued income | 490/1 | €489 | €2,522 | +€2,033 | +415% |
| Total equity and liabilities | 10/49 | €235,874 | €268,398 | +€32,524 | +13.8% |
| Equity | 10/15 | €133,640 | €64,482 | -€69,158 | -51.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,040 | €45,882 | -€69,158 | -60.1% |
| Distributable reserves | 133 | €115,040 | €45,882 | -€69,158 | -60.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €102,234 | €203,916 | +€101,681 | +99.5% |
| Amounts payable after more than one year | 17 | €37,508 | €26,599 | -€10,909 | -29.1% |
| Financial debts | 170/4 | €37,508 | €26,599 | -€10,909 | -29.1% |
| Amounts payable within one year | 42/48 | €64,726 | €177,317 | +€112,591 | +174% |
| Current portion of amounts payable after more than one year | 42 | €10,386 | €10,909 | +€523 | +5.0% |
| Financial debts | 43 | €1,990 | €3,165 | +€1,176 | +59.1% |
| Credit institutions | 430/8 | €1,990 | €3,165 | +€1,176 | +59.1% |
| Trade debts | 44 | €3,556 | €1,517 | -€2,039 | -57.3% |
| Suppliers | 440/4 | €3,556 | €1,517 | -€2,039 | -57.3% |
| Taxes, remuneration and social security | 45 | €25,001 | €6,568 | -€18,433 | -73.7% |
| Taxes | 450/3 | €25,001 | €6,568 | -€18,433 | -73.7% |
| Other amounts payable | 47/48 | €23,794 | €155,157 | +€131,363 | +552% |
| Non-recurring operating income | 76A | €40,700 | €0 | -€40,700 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,035 | €13,126 | +€3,091 | +30.8% |
| Other operating charges | 640/8 | €996 | €665 | -€332 | -33.3% |
| Gross operating margin | 9900 | €88,666 | €119,958 | +€31,291 | +35.3% |
| Operating profit (loss) | 9901 | €77,635 | €106,167 | +€28,532 | +36.8% |
| Financial income | 75/76B | €4,690 | €9,800 | +€5,110 | +109% |
| Recurring financial income | 75 | €4,690 | €9,800 | +€5,110 | +109% |
| Financial charges | 65/66B | €3,536 | €3,974 | +€438 | +12.4% |
| Recurring financial charges | 65 | €3,536 | €3,974 | +€438 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €78,789 | €111,993 | +€33,204 | +42.1% |
| Income taxes | 67/77 | €20,907 | €25,993 | +€5,086 | +24.3% |
| Profit (loss) for the period | 9904 | €57,882 | €86,000 | +€28,117 | +48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,882 | €86,000 | +€28,117 | +48.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.