TORLA: 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.
TORLA
Largest movements
- Cash +€1.8m
up €1.8m (+36435.6%), from €4,964 to €1.8m
mainly Net result for the year (+€1.2m) and Investment in fixed assets (net) (+€1.0m)
- Tangible fixed assets -€1.0m
down €1.0m (-79.0%), from €1.3m to €274,488
of which Land and buildings: -€950,747
- Profit (loss) carried forward +€1.2m
up €1.2m, from -€1.0m to €237,015
- Other debts -€309,805
down €309,805 (-59.4%), from €521,557 to €211,752
- Debts after one year -€103,035
down €103,035 (-17.2%), from €598,107 to €495,072
- Advances received -€44,249
no longer reported in 2025 (was €44,249)
- Gross operating margin +€1.3m
up €1.3m (+1318.4%), from €97,651 to €1.4m
- Taxes +€77,622
new in 2025: €77,622
- Depreciation -€68,526
down €68,526 (-72.6%), from €94,440 to €25,914
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 | €1,349,488 | €2,123,907 | +€774,419 | +57.4% |
| Fixed assets | 21/28 | €1,308,220 | €274,729 | -€1.0m | -79.0% |
| Tangible fixed assets | 22/27 | €1,307,978 | €274,488 | -€1.0m | -79.0% |
| Land and buildings | 22 | €1,213,733 | €262,986 | -€950,747 | -78.3% |
| Plant, machinery and equipment | 23 | €94,245 | €11,502 | -€82,743 | -87.8% |
| Financial fixed assets | 28 | €241 | €241 | = | 0.0% |
| Current assets | 29/58 | €41,268 | €1,849,178 | +€1.8m | +4380.9% |
| Amounts receivable within one year | 40/41 | €29,676 | €29,944 | +€268 | +0.9% |
| Trade receivables | 40 | €27,178 | €26,258 | -€920 | -3.4% |
| Other amounts receivable | 41 | €2,498 | €3,685 | +€1,188 | +47.5% |
| Cash at bank and in hand | 54/58 | €4,964 | €1,813,769 | +€1.8m | +36435.6% |
| Deferred charges and accrued income | 490/1 | €6,628 | €5,465 | -€1,164 | -17.6% |
| Total equity and liabilities | 10/49 | €1,349,488 | €2,123,907 | +€774,419 | +57.4% |
| Equity | 10/15 | €138,669 | €1,386,350 | +€1.2m | +899.8% |
| Contributions | 10/11 | €696,150 | €696,150 | = | 0.0% |
| Capital | 10 | €696,150 | €696,150 | = | 0.0% |
| Issued capital | 100 | €696,150 | €696,150 | = | 0.0% |
| Reserves | 13 | €452,981 | €453,186 | +€205 | 0.0% |
| Non-distributable reserves | 130/1 | €72,529 | €72,734 | +€205 | +0.3% |
| Legal reserve | 130 | €69,410 | €69,615 | +€205 | +0.3% |
| Other | 1319 | €3,119 | €3,119 | = | 0.0% |
| Tax-exempt reserves | 132 | €114,031 | €114,031 | = | 0.0% |
| Distributable reserves | 133 | €266,421 | €266,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,010,462 | €237,015 | +€1.2m | |
| Amounts payable | 17/49 | €1,210,819 | €737,557 | -€473,262 | -39.1% |
| Amounts payable after more than one year | 17 | €598,107 | €495,072 | -€103,035 | -17.2% |
| Financial debts | 170/4 | €598,107 | €495,072 | -€103,035 | -17.2% |
| Amounts payable within one year | 42/48 | €596,025 | €241,435 | -€354,590 | -59.5% |
| Current portion of amounts payable after more than one year | 42 | €23,872 | €24,830 | +€958 | +4.0% |
| Trade debts | 44 | €1,462 | €3,796 | +€2,335 | +159.7% |
| Suppliers | 440/4 | €1,462 | €3,796 | +€2,335 | +159.7% |
| Advances received on contracts in progress | 46 | €44,249 | - | -€44,249 | |
| Taxes, remuneration and social security | 45 | €4,885 | €1,056 | -€3,829 | -78.4% |
| Taxes | 450/3 | €3,842 | €1,056 | -€2,786 | -72.5% |
| Remuneration and social security | 454/9 | €1,043 | - | -€1,043 | |
| Other amounts payable | 47/48 | €521,557 | €211,752 | -€309,805 | -59.4% |
| Accrued charges and deferred income | 492/3 | €16,687 | €1,050 | -€15,637 | -93.7% |
| Non-recurring operating income | 76A | - | €1,318,138 | +€1.3m | |
| Remuneration, social security and pensions | 62 | €1,484 | €9,848 | +€8,364 | +563.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,440 | €25,914 | -€68,526 | -72.6% |
| Other operating charges | 640/8 | €17,679 | €20,795 | +€3,116 | +17.6% |
| Gross operating margin | 9900 | €97,651 | €1,385,086 | +€1.3m | +1318.4% |
| Operating profit (loss) | 9901 | -€15,951 | €1,328,529 | +€1.3m | |
| Financial income | 75/76B | €152 | €18 | -€134 | -88.2% |
| Recurring financial income | 75 | €152 | €18 | -€134 | -88.2% |
| Financial charges | 65/66B | €5,754 | €3,244 | -€2,510 | -43.6% |
| Recurring financial charges | 65 | €5,754 | €3,244 | -€2,510 | -43.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,553 | €1,325,303 | +€1.3m | |
| Income taxes | 67/77 | - | €77,622 | +€77,622 | |
| Profit (loss) for the period | 9904 | -€21,553 | €1,247,681 | +€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,553 | €1,247,681 | +€1.3m |
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 9 October 2026 via checked.be.