TORFS TECHNICS: what changed
What changed
TORFS TECHNICS
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
€43,220
2024 · €151,056-€107,836
Equity
€18,600
2024 · €154,656-€136,056
Cash
€29,639
2024 · €128,798-€99,159
Balance sheet total
€617,012
2024 · €866,895-€249,883
Largest movements
Assets
- Receivables within one year -€108,947
down €108,947 (-49.1%), from €221,666 to €112,720
of which Trade receivables: -€138,747
- Cash -€99,159
down €99,159 (-77.0%), from €128,798 to €29,639
mainly Other debts (-€203,022) and Contributions, distributions and other (-€179,276)
- Tangible fixed assets -€39,082
down €39,082 (-7.7%), from €508,225 to €469,142
Equity and liabilities
- Other debts -€203,022
down €203,022 (-74.0%), from €274,359 to €71,337
- Reserves -€136,056
no longer reported in 2025 (was €136,056)
- Debts after one year +€130,194
up €130,194 (+45.4%), from €286,588 to €416,782
- Accrued charges and deferred income -€74,977
no longer reported in 2025 (was €74,977)
- Current portion of long-term debt +€35,193
up €35,193 (+123%), from €28,547 to €63,741
Income statement
- Gross operating margin -€141,717
down €141,717 (-49.0%), from €288,938 to €147,221
- Taxes -€29,739
down €29,739 (-72.1%), from €41,270 to €11,531
- Financial charges -€3,855
down €3,855 (-7.0%), from €55,453 to €51,598
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€151,056
Gross operating margin
-€141,717
Depreciation
+€457
Other operating charges
+€595
Financial income
-€764
Financial charges
+€3,855
Taxes
+€29,739
Result 2025
€43,220
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€113,720
Investment
€0
Financing
+€14,561
Cash 2024
€128,798
From operations (derived)
-€113,720
Net result for the year
+€43,220
Depreciation
+€39,082
Receivables within one year
+€108,947
Deferred charges and accrued income
+€2,695
Trade debts
-€28,355
Tax, wage and social debts
-€1,310
Other debts
-€203,022
Accrued charges and deferred income
-€74,977
Financing
+€14,561
Debts after one year
+€130,194
Current portion of long-term debt
+€35,193
Short-term financial debts
+€28,449
Contributions, distributions and other
-€179,276
Cash 2025
€29,639
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €866,895 | €617,012 | -€249,883 | -28.8% |
| Fixed assets | 21/28 | €508,225 | €469,142 | -€39,082 | -7.7% |
| Tangible fixed assets | 22/27 | €508,225 | €469,142 | -€39,082 | -7.7% |
| Land and buildings | 22 | €402,249 | €389,235 | -€13,013 | -3.2% |
| Plant, machinery and equipment | 23 | €25,417 | €15,129 | -€10,288 | -40.5% |
| Furniture and vehicles | 24 | €3,349 | €2,222 | -€1,127 | -33.6% |
| Other tangible fixed assets | 26 | €77,210 | €62,555 | -€14,654 | -19.0% |
| Current assets | 29/58 | €358,671 | €147,870 | -€210,801 | -58.8% |
| Amounts receivable within one year | 40/41 | €221,666 | €112,720 | -€108,947 | -49.1% |
| Trade receivables | 40 | €212,559 | €73,812 | -€138,747 | -65.3% |
| Other amounts receivable | 41 | €9,107 | €38,908 | +€29,800 | +327% |
| Cash at bank and in hand | 54/58 | €128,798 | €29,639 | -€99,159 | -77.0% |
| Deferred charges and accrued income | 490/1 | €8,206 | €5,511 | -€2,695 | -32.8% |
| Total equity and liabilities | 10/49 | €866,895 | €617,012 | -€249,883 | -28.8% |
| Equity | 10/15 | €154,656 | €18,600 | -€136,056 | -88.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €136,056 | - | -€136,056 | |
| Distributable reserves | 133 | €136,056 | - | -€136,056 | |
| Amounts payable | 17/49 | €712,239 | €598,412 | -€113,827 | -16.0% |
| Amounts payable after more than one year | 17 | €286,588 | €416,782 | +€130,194 | +45.4% |
| Financial debts | 170/4 | €286,588 | €416,782 | +€130,194 | +45.4% |
| Amounts payable within one year | 42/48 | €350,675 | €181,630 | -€169,045 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | €28,547 | €63,741 | +€35,193 | +123% |
| Financial debts | 43 | - | €28,449 | +€28,449 | |
| Credit institutions | 430/8 | - | €28,449 | +€28,449 | |
| Trade debts | 44 | €46,356 | €18,000 | -€28,355 | -61.2% |
| Suppliers | 440/4 | €46,356 | €18,000 | -€28,355 | -61.2% |
| Taxes, remuneration and social security | 45 | €1,413 | €102 | -€1,310 | -92.8% |
| Taxes | 450/3 | €1,413 | €102 | -€1,310 | -92.8% |
| Other amounts payable | 47/48 | €274,359 | €71,337 | -€203,022 | -74.0% |
| Accrued charges and deferred income | 492/3 | €74,977 | - | -€74,977 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,539 | €39,082 | -€457 | -1.2% |
| Other operating charges | 640/8 | €2,467 | €1,872 | -€595 | -24.1% |
| Gross operating margin | 9900 | €288,938 | €147,221 | -€141,717 | -49.0% |
| Operating profit (loss) | 9901 | €246,932 | €106,267 | -€140,665 | -57.0% |
| Financial income | 75/76B | €846 | €82 | -€764 | -90.3% |
| Recurring financial income | 75 | €846 | €82 | -€764 | -90.3% |
| Financial charges | 65/66B | €55,453 | €51,598 | -€3,855 | -7.0% |
| Recurring financial charges | 65 | €55,453 | €51,598 | -€3,855 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €192,326 | €54,751 | -€137,575 | -71.5% |
| Income taxes | 67/77 | €41,270 | €11,531 | -€29,739 | -72.1% |
| Profit (loss) for the period | 9904 | €151,056 | €43,220 | -€107,836 | -71.4% |
| Profit (loss) for the period to be appropriated | 9905 | €151,056 | €43,220 | -€107,836 | -71.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.