TORAS: 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.
TORAS
Largest movements
- Stocks and contracts -€883,368
down €883,368 (-100.0%), from €883,368 to €0
- Cash +€35,354
up €35,354 (+898.7%), from €3,934 to €39,288
mainly Stocks and contracts (+€883,368) and Net result for the year (+€37,166)
- Other debts -€582,426
down €582,426 (-100.0%), from €582,426 to €0
- Debts after one year -€253,329
down €253,329 (-100.0%), from €253,329 to €0
- Reserves +€21,267
new in 2025: €21,267
- Current portion of long-term debt -€17,495
down €17,495 (-100.0%), from €17,495 to €0
- Profit (loss) carried forward +€15,899
up €15,899, from -€15,899 to €0
- Gross operating margin +€50,260
up €50,260, from -€5,015 to €45,245
- Taxes +€7,975
new in 2025: €7,975
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 | €887,802 | €43,087 | -€844,715 | -95.1% |
| Current assets | 29/58 | €887,802 | €43,087 | -€844,715 | -95.1% |
| Stocks and contracts in progress | 3 | €883,368 | €0 | -€883,368 | -100.0% |
| Stocks | 30/36 | €883,368 | €0 | -€883,368 | -100.0% |
| Amounts receivable within one year | 40/41 | €500 | €3,799 | +€3,299 | +659.8% |
| Trade receivables | 40 | €500 | €0 | -€500 | -100.0% |
| Other amounts receivable | 41 | €0 | €3,799 | +€3,799 | |
| Cash at bank and in hand | 54/58 | €3,934 | €39,288 | +€35,354 | +898.7% |
| Total equity and liabilities | 10/49 | €887,802 | €43,087 | -€844,715 | -95.1% |
| Equity | 10/15 | €4,101 | €41,267 | +€37,166 | +906.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | - | €21,267 | +€21,267 | |
| Distributable reserves | 133 | - | €21,267 | +€21,267 | |
| Profit (loss) carried forward | 14 | -€15,899 | €0 | +€15,899 | |
| Amounts payable | 17/49 | €883,701 | €1,820 | -€881,881 | -99.8% |
| Amounts payable after more than one year | 17 | €253,329 | €0 | -€253,329 | -100.0% |
| Financial debts | 170/4 | €253,329 | €0 | -€253,329 | -100.0% |
| Amounts payable within one year | 42/48 | €621,806 | €1,820 | -€619,986 | -99.7% |
| Current portion of amounts payable after more than one year | 42 | €17,495 | €0 | -€17,495 | -100.0% |
| Trade debts | 44 | €16,435 | €1,820 | -€14,615 | -88.9% |
| Suppliers | 440/4 | €16,435 | €1,820 | -€14,615 | -88.9% |
| Taxes, remuneration and social security | 45 | €5,450 | €0 | -€5,450 | -100.0% |
| Taxes | 450/3 | €5,450 | €0 | -€5,450 | -100.0% |
| Other amounts payable | 47/48 | €582,426 | €0 | -€582,426 | -100.0% |
| Accrued charges and deferred income | 492/3 | €8,566 | €0 | -€8,566 | -100.0% |
| Other operating charges | 640/8 | €141 | €0 | -€141 | -100.0% |
| Gross operating margin | 9900 | -€5,015 | €45,245 | +€50,260 | |
| Operating profit (loss) | 9901 | -€5,155 | €45,245 | +€50,401 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €126 | €104 | -€22 | -17.3% |
| Recurring financial charges | 65 | €126 | €104 | -€22 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,282 | €45,141 | +€50,423 | |
| Income taxes | 67/77 | - | €7,975 | +€7,975 | |
| Profit (loss) for the period | 9904 | -€5,282 | €37,166 | +€42,448 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,282 | €37,166 | +€42,448 |
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.