TORFS HUGO: 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.
TORFS HUGO
Largest movements
- Tangible fixed assets +€52,504
up €52,504 (+99.4%), from €52,818 to €105,322
of which Furniture and vehicles: +€55,375
- Receivables within one year -€49,344
down €49,344 (-71.3%), from €69,242 to €19,898
of which Other amounts receivable: -€50,521
- Cash -€28,389
down €28,389 (-17.7%), from €160,092 to €131,704
mainly Investment in fixed assets (net) (-€75,574) and Current portion of long-term debt (-€31,037)
- Current portion of long-term debt -€31,037
no longer reported in 2025 (was €31,037)
- Profit (loss) carried forward +€13,039
up €13,039 (+48.8%), from -€26,725 to -€13,686
- Tax, wage and social debts -€8,213
no longer reported in 2025 (was €8,213)
- Depreciation +€11,465
up €11,465 (+98.8%), from €11,606 to €23,070
- Gross operating margin +€6,318
up €6,318 (+19.3%), from €32,739 to €39,057
- Taxes -€6,086
down €6,086 (-74.1%), from €8,216 to €2,131
- Other operating charges -€617
down €617 (-40.3%), from €1,531 to €914
- Financial income -€611
down €611 (-72.7%), from €840 to €229
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 | €282,152 | €256,923 | -€25,229 | -8.9% |
| Fixed assets | 21/28 | €52,818 | €105,322 | +€52,504 | +99.4% |
| Tangible fixed assets | 22/27 | €52,818 | €105,322 | +€52,504 | +99.4% |
| Land and buildings | 22 | €10,238 | €11,649 | +€1,411 | +13.8% |
| Plant, machinery and equipment | 23 | €8,791 | €4,509 | -€4,282 | -48.7% |
| Furniture and vehicles | 24 | €33,789 | €89,164 | +€55,375 | +164% |
| Current assets | 29/58 | €229,334 | €151,601 | -€77,733 | -33.9% |
| Amounts receivable within one year | 40/41 | €69,242 | €19,898 | -€49,344 | -71.3% |
| Trade receivables | 40 | €643 | €1,820 | +€1,177 | +183% |
| Other amounts receivable | 41 | €68,599 | €18,078 | -€50,521 | -73.6% |
| Cash at bank and in hand | 54/58 | €160,092 | €131,704 | -€28,389 | -17.7% |
| Total equity and liabilities | 10/49 | €282,152 | €256,923 | -€25,229 | -8.9% |
| Equity | 10/15 | €240,105 | €253,145 | +€13,039 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €248,231 | €248,231 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €246,371 | €246,371 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,725 | -€13,686 | +€13,039 | +48.8% |
| Amounts payable | 17/49 | €42,047 | €3,778 | -€38,268 | -91.0% |
| Amounts payable within one year | 42/48 | €42,047 | €3,778 | -€38,268 | -91.0% |
| Current portion of amounts payable after more than one year | 42 | €31,037 | - | -€31,037 | |
| Trade debts | 44 | €2,796 | €3,044 | +€248 | +8.9% |
| Suppliers | 440/4 | €2,796 | €3,044 | +€248 | +8.9% |
| Taxes, remuneration and social security | 45 | €8,213 | - | -€8,213 | |
| Taxes | 450/3 | €8,213 | - | -€8,213 | |
| Other amounts payable | 47/48 | - | €734 | +€734 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,606 | €23,070 | +€11,465 | +98.8% |
| Other operating charges | 640/8 | €1,531 | €914 | -€617 | -40.3% |
| Gross operating margin | 9900 | €32,739 | €39,057 | +€6,318 | +19.3% |
| Operating profit (loss) | 9901 | €19,603 | €15,073 | -€4,530 | -23.1% |
| Financial income | 75/76B | €840 | €229 | -€611 | -72.7% |
| Recurring financial income | 75 | €840 | €229 | -€611 | -72.7% |
| Financial charges | 65/66B | €151 | €132 | -€19 | -12.5% |
| Recurring financial charges | 65 | €151 | €132 | -€19 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €20,292 | €15,170 | -€5,122 | -25.2% |
| Income taxes | 67/77 | €8,216 | €2,131 | -€6,086 | -74.1% |
| Profit (loss) for the period | 9904 | €12,076 | €13,039 | +€964 | +8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,076 | €13,039 | +€964 | +8.0% |
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 23 October 2026 via checked.be.