TORH: 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.
TORH
Largest movements
- Cash -€143,735
down €143,735 (-66.2%), from €217,139 to €73,405
mainly Debts after one year (-€178,562) and Other debts (-€127,790)
- Tangible fixed assets -€34,774
down €34,774 (-2.1%), from €1.6m to €1.6m
- Receivables within one year +€27,331
up €27,331, from €0 to €27,331
- Debts after one year -€178,562
down €178,562 (-14.6%), from €1.2m to €1.0m
- Profit (loss) carried forward +€166,650
up €166,650 (+33.5%), from -€496,948 to -€330,298
- Other debts -€127,790
down €127,790 (-14.6%), from €874,706 to €746,916
- Gross operating margin +€8,913
up €8,913 (+3.3%), from €270,159 to €279,071
- Financial charges -€8,505
down €8,505 (-12.0%), from €70,886 to €62,381
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 | €1,850,285 | €1,699,108 | -€151,177 | -8.2% |
| Fixed assets | 21/28 | €1,633,145 | €1,598,372 | -€34,774 | -2.1% |
| Tangible fixed assets | 22/27 | €1,633,145 | €1,598,372 | -€34,774 | -2.1% |
| Land and buildings | 22 | €1,633,145 | €1,598,372 | -€34,774 | -2.1% |
| Current assets | 29/58 | €217,139 | €100,736 | -€116,403 | -53.6% |
| Amounts receivable within one year | 40/41 | €0 | €27,331 | +€27,331 | |
| Trade receivables | 40 | €0 | €27,331 | +€27,331 | |
| Cash at bank and in hand | 54/58 | €217,139 | €73,405 | -€143,735 | -66.2% |
| Total equity and liabilities | 10/49 | €1,850,285 | €1,699,108 | -€151,177 | -8.2% |
| Equity | 10/15 | -€478,348 | -€311,698 | +€166,650 | +34.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€496,948 | -€330,298 | +€166,650 | +33.5% |
| Amounts payable | 17/49 | €2,328,633 | €2,010,805 | -€317,828 | -13.6% |
| Amounts payable after more than one year | 17 | €1,226,948 | €1,048,386 | -€178,562 | -14.6% |
| Financial debts | 170/4 | €1,226,948 | €1,048,386 | -€178,562 | -14.6% |
| Amounts payable within one year | 42/48 | €1,079,754 | €939,831 | -€139,923 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €173,404 | €178,562 | +€5,158 | +3.0% |
| Trade debts | 44 | €1,124 | €128 | -€996 | -88.6% |
| Suppliers | 440/4 | €1,124 | €128 | -€996 | -88.6% |
| Taxes, remuneration and social security | 45 | €30,520 | €14,226 | -€16,294 | -53.4% |
| Taxes | 450/3 | €30,520 | €14,226 | -€16,294 | -53.4% |
| Other amounts payable | 47/48 | €874,706 | €746,916 | -€127,790 | -14.6% |
| Accrued charges and deferred income | 492/3 | €21,931 | €22,588 | +€657 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,774 | €34,774 | = | 0.0% |
| Other operating charges | 640/8 | €15,013 | €15,328 | +€315 | +2.1% |
| Gross operating margin | 9900 | €270,159 | €279,071 | +€8,913 | +3.3% |
| Operating profit (loss) | 9901 | €220,371 | €228,969 | +€8,598 | +3.9% |
| Financial income | 75/76B | - | €62 | +€62 | |
| Recurring financial income | 75 | - | €62 | +€62 | |
| Financial charges | 65/66B | €70,886 | €62,381 | -€8,505 | -12.0% |
| Recurring financial charges | 65 | €70,886 | €62,381 | -€8,505 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €149,485 | €166,650 | +€17,165 | +11.5% |
| Profit (loss) for the period | 9904 | €149,485 | €166,650 | +€17,165 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €149,485 | €166,650 | +€17,165 | +11.5% |
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 12 October 2026 via checked.be.