TORFS RENTING: 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 RENTING
Largest movements
- Tangible fixed assets -€157,055
down €157,055 (-9.2%), from €1.7m to €1.6m
- Receivables within one year -€131,281
down €131,281 (-59.3%), from €221,445 to €90,164
of which Other amounts receivable: -€78,773
- Debts after one year -€250,000
down €250,000 (-26.5%), from €943,600 to €693,600
of which Financial debts: -€250,000
- Tax, wage and social debts -€55,384
down €55,384 (-85.8%), from €64,540 to €9,156
- Reserves +€38,708
up €38,708 (+5.6%), from €689,922 to €728,630
of which Distributable reserves: +€49,190
- Gross operating margin +€30,794
up €30,794 (+10.9%), from €282,714 to €313,507
- Taxes +€8,607
up €8,607 (+110%), from €7,793 to €16,400
- Financial charges -€5,184
down €5,184 (-21.9%), from €23,625 to €18,441
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 | €2,093,977 | €1,821,525 | -€272,453 | -13.0% |
| Fixed assets | 21/28 | €1,717,558 | €1,560,503 | -€157,055 | -9.1% |
| Tangible fixed assets | 22/27 | €1,716,398 | €1,559,343 | -€157,055 | -9.2% |
| Land and buildings | 22 | €1,716,398 | €1,559,343 | -€157,055 | -9.2% |
| Financial fixed assets | 28 | €1,159 | €1,159 | = | 0.0% |
| Current assets | 29/58 | €376,420 | €261,022 | -€115,398 | -30.7% |
| Amounts receivable within one year | 40/41 | €221,445 | €90,164 | -€131,281 | -59.3% |
| Trade receivables | 40 | €119,072 | €66,564 | -€52,508 | -44.1% |
| Other amounts receivable | 41 | €102,373 | €23,600 | -€78,773 | -76.9% |
| Cash at bank and in hand | 54/58 | €81,846 | €96,345 | +€14,499 | +17.7% |
| Deferred charges and accrued income | 490/1 | €73,128 | €74,513 | +€1,384 | +1.9% |
| Total equity and liabilities | 10/49 | €2,093,977 | €1,821,525 | -€272,453 | -13.0% |
| Equity | 10/15 | €813,869 | €852,576 | +€38,708 | +4.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €689,922 | €728,630 | +€38,708 | +5.6% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €41,927 | €31,446 | -€10,482 | -25.0% |
| Distributable reserves | 133 | €635,600 | €684,789 | +€49,190 | +7.7% |
| Provisions and deferred taxes | 16 | €21,589 | €16,192 | -€5,397 | -25.0% |
| Deferred taxes | 168 | €21,589 | €16,192 | -€5,397 | -25.0% |
| Amounts payable | 17/49 | €1,258,519 | €952,756 | -€305,763 | -24.3% |
| Amounts payable after more than one year | 17 | €943,600 | €693,600 | -€250,000 | -26.5% |
| Financial debts | 170/4 | €925,000 | €675,000 | -€250,000 | -27.0% |
| Other amounts payable | 178/9 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €314,919 | €259,156 | -€55,763 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €379 | - | -€379 | |
| Suppliers | 440/4 | €379 | - | -€379 | |
| Taxes, remuneration and social security | 45 | €64,540 | €9,156 | -€55,384 | -85.8% |
| Taxes | 450/3 | €64,540 | €9,156 | -€55,384 | -85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €203,819 | €205,814 | +€1,995 | +1.0% |
| Other operating charges | 640/8 | €40,183 | €39,745 | -€438 | -1.1% |
| Gross operating margin | 9900 | €282,714 | €313,507 | +€30,794 | +10.9% |
| Operating profit (loss) | 9901 | €38,712 | €67,949 | +€29,236 | +75.5% |
| Financial income | 75/76B | €169 | €203 | +€33 | +19.7% |
| Recurring financial income | 75 | €169 | €203 | +€33 | +19.7% |
| Financial charges | 65/66B | €23,625 | €18,441 | -€5,184 | -21.9% |
| Recurring financial charges | 65 | €23,625 | €18,441 | -€5,184 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | €15,257 | €49,710 | +€34,454 | +226% |
| Transfer from deferred taxes | 780 | €5,397 | €5,397 | = | 0.0% |
| Income taxes | 67/77 | €7,793 | €16,400 | +€8,607 | +110% |
| Profit (loss) for the period | 9904 | €12,861 | €38,708 | +€25,847 | +201% |
| Transfer from tax-exempt reserves | 789 | €10,482 | €10,482 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,343 | €49,190 | +€25,847 | +111% |
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 26 October 2026 via checked.be.