TORCK: 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.
TORCK
Largest movements
- Tangible fixed assets -€86,622
down €86,622 (-7.3%), from €1.2m to €1.1m
of which Plant, machinery and equipment: -€95,301
- Receivables within one year +€71,117
up €71,117 (+8.0%), from €887,535 to €958,652
of which Other amounts receivable: +€57,236
- Cash +€61,692
up €61,692 (+13.9%), from €442,873 to €504,565
mainly Net result for the year (+€685,404) and Accrued charges and deferred income (+€231,173)
- Reserves +€460,404
up €460,404 (+21.6%), from €2.1m to €2.6m
of which Distributable reserves: +€334,104
- Advances received -€301,039
no longer reported in 2025 (was €301,039)
- Trade debts -€244,319
down €244,319 (-43.8%), from €557,606 to €313,286
- Accrued charges and deferred income +€231,173
up €231,173 (+88.9%), from €260,068 to €491,241
- Tax, wage and social debts -€73,608
down €73,608 (-24.6%), from €298,990 to €225,383
of which Remuneration and social security: -€73,308
- Staff costs -€256,198
down €256,198 (-9.5%), from €2.7m to €2.4m
- Gross operating margin +€114,625
up €114,625 (+3.3%), from €3.5m to €3.6m
- Write-downs +€76,771
up €76,771, from -€40,000 to €36,771
- Taxes +€65,277
up €65,277 (+62.7%), from €104,097 to €169,374
- Depreciation +€52,052
up €52,052 (+29.6%), from €176,105 to €228,157
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 | €3,775,106 | €3,869,017 | +€93,911 | +2.5% |
| Fixed assets | 21/28 | €1,215,451 | €1,150,579 | -€64,871 | -5.3% |
| Intangible fixed assets | 21 | €21,327 | €28,788 | +€7,460 | +35.0% |
| Tangible fixed assets | 22/27 | €1,194,023 | €1,107,401 | -€86,622 | -7.3% |
| Plant, machinery and equipment | 23 | €1,012,932 | €917,631 | -€95,301 | -9.4% |
| Furniture and vehicles | 24 | €181,091 | €189,771 | +€8,680 | +4.8% |
| Financial fixed assets | 28 | €100 | €14,390 | +€14,290 | +14290.0% |
| Current assets | 29/58 | €2,559,656 | €2,718,438 | +€158,782 | +6.2% |
| Stocks and contracts in progress | 3 | €1,182,410 | €1,214,218 | +€31,808 | +2.7% |
| Stocks | 30/36 | €1,182,410 | €1,214,218 | +€31,808 | +2.7% |
| Amounts receivable within one year | 40/41 | €887,535 | €958,652 | +€71,117 | +8.0% |
| Trade receivables | 40 | €791,963 | €805,844 | +€13,881 | +1.8% |
| Other amounts receivable | 41 | €95,572 | €152,808 | +€57,236 | +59.9% |
| Cash at bank and in hand | 54/58 | €442,873 | €504,565 | +€61,692 | +13.9% |
| Deferred charges and accrued income | 490/1 | €46,838 | €41,004 | -€5,834 | -12.5% |
| Total equity and liabilities | 10/49 | €3,775,106 | €3,869,017 | +€93,911 | +2.5% |
| Equity | 10/15 | €2,150,004 | €2,610,408 | +€460,404 | +21.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,130,004 | €2,590,408 | +€460,404 | +21.6% |
| Tax-exempt reserves | 132 | €421,000 | €547,300 | +€126,300 | +30.0% |
| Distributable reserves | 133 | €1,709,004 | €2,043,108 | +€334,104 | +19.5% |
| Amounts payable | 17/49 | €1,625,103 | €1,258,609 | -€366,493 | -22.6% |
| Amounts payable within one year | 42/48 | €1,365,035 | €767,369 | -€597,666 | -43.8% |
| Trade debts | 44 | €557,606 | €313,286 | -€244,319 | -43.8% |
| Suppliers | 440/4 | €557,606 | €313,286 | -€244,319 | -43.8% |
| Advances received on contracts in progress | 46 | €301,039 | - | -€301,039 | |
| Taxes, remuneration and social security | 45 | €298,990 | €225,383 | -€73,608 | -24.6% |
| Taxes | 450/3 | €18,749 | €18,449 | -€300 | -1.6% |
| Remuneration and social security | 454/9 | €280,242 | €206,934 | -€73,308 | -26.2% |
| Other amounts payable | 47/48 | €207,400 | €228,700 | +€21,300 | +10.3% |
| Accrued charges and deferred income | 492/3 | €260,068 | €491,241 | +€231,173 | +88.9% |
| Non-recurring operating income | 76A | €2,450 | €1,653 | -€797 | -32.5% |
| Remuneration, social security and pensions | 62 | €2,705,160 | €2,448,961 | -€256,198 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176,105 | €228,157 | +€52,052 | +29.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€40,000 | €36,771 | +€76,771 | |
| Other operating charges | 640/8 | €13,196 | €2,479 | -€10,717 | -81.2% |
| Gross operating margin | 9900 | €3,468,103 | €3,582,728 | +€114,625 | +3.3% |
| Operating profit (loss) | 9901 | €613,642 | €866,360 | +€252,718 | +41.2% |
| Financial income | 75/76B | €37,190 | €15,803 | -€21,387 | -57.5% |
| Recurring financial income | 75 | €37,190 | €15,803 | -€21,387 | -57.5% |
| Financial charges | 65/66B | €24,481 | €27,385 | +€2,904 | +11.9% |
| Recurring financial charges | 65 | €24,481 | €27,385 | +€2,904 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €626,352 | €854,778 | +€228,427 | +36.5% |
| Income taxes | 67/77 | €104,097 | €169,374 | +€65,277 | +62.7% |
| Profit (loss) for the period | 9904 | €522,255 | €685,404 | +€163,149 | +31.2% |
| Transfer to tax-exempt reserves | 689 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €522,255 | €559,104 | +€36,849 | +7.1% |
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 7 October 2026 via checked.be.