TORO CONSULT: 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.
TORO CONSULT
Largest movements
- Stocks and contracts -€222,865
down €222,865 (-30.7%), from €725,321 to €502,455
- Receivables after one year +€200,364
new in 2025: €200,364
- Cash +€81,158
up €81,158 (+106%), from €76,372 to €157,530
mainly Stocks and contracts (+€222,865) and Net result for the year (+€176,849)
- Receivables within one year -€68,023
down €68,023 (-16.8%), from €405,669 to €337,647
- Reserves +€103,983
up €103,983 (+11.3%), from €917,968 to €1.0m
- Debts after one year -€62,695
down €62,695 (-11.5%), from €545,930 to €483,236
of which Other amounts payable: -€32,207
- Other debts -€52,714
down €52,714 (-43.2%), from €121,937 to €69,223
- Tax, wage and social debts -€40,618
down €40,618 (-44.3%), from €91,630 to €51,012
- Short-term financial debts +€32,438
new in 2025: €32,438
- Gross operating margin -€109,326
down €109,326 (-25.5%), from €429,021 to €319,695
- Taxes -€39,920
down €39,920 (-32.0%), from €124,762 to €84,842
- Other operating charges +€9,657
up €9,657 (+169%), from €5,713 to €15,370
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 | €1,728,894 | €1,713,869 | -€15,025 | -0.9% |
| Fixed assets | 21/28 | €521,282 | €515,707 | -€5,575 | -1.1% |
| Tangible fixed assets | 22/27 | €511,982 | €506,407 | -€5,575 | -1.1% |
| Land and buildings | 22 | €507,419 | €494,345 | -€13,074 | -2.6% |
| Furniture and vehicles | 24 | €4,563 | €3,254 | -€1,309 | -28.7% |
| Other tangible fixed assets | 26 | - | €8,808 | +€8,808 | |
| Financial fixed assets | 28 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €1,207,612 | €1,198,161 | -€9,451 | -0.8% |
| Amounts receivable after more than one year | 29 | - | €200,364 | +€200,364 | |
| Other amounts receivable | 291 | - | €200,364 | +€200,364 | |
| Stocks and contracts in progress | 3 | €725,321 | €502,455 | -€222,865 | -30.7% |
| Stocks | 30/36 | €725,321 | €502,455 | -€222,865 | -30.7% |
| Amounts receivable within one year | 40/41 | €405,669 | €337,647 | -€68,023 | -16.8% |
| Other amounts receivable | 41 | €405,669 | €337,647 | -€68,023 | -16.8% |
| Cash at bank and in hand | 54/58 | €76,372 | €157,530 | +€81,158 | +106% |
| Deferred charges and accrued income | 490/1 | €250 | €166 | -€85 | -33.8% |
| Total equity and liabilities | 10/49 | €1,728,894 | €1,713,869 | -€15,025 | -0.9% |
| Equity | 10/15 | €936,568 | €1,040,551 | +€103,983 | +11.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €917,968 | €1,021,951 | +€103,983 | +11.3% |
| Distributable reserves | 133 | €917,968 | €1,021,951 | +€103,983 | +11.3% |
| Amounts payable | 17/49 | €792,326 | €673,318 | -€119,008 | -15.0% |
| Amounts payable after more than one year | 17 | €545,930 | €483,236 | -€62,695 | -11.5% |
| Financial debts | 170/4 | €132,462 | €101,975 | -€30,488 | -23.0% |
| Other amounts payable | 178/9 | €413,468 | €381,261 | -€32,207 | -7.8% |
| Amounts payable within one year | 42/48 | €243,645 | €187,332 | -€56,313 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €30,079 | €30,488 | +€409 | +1.4% |
| Financial debts | 43 | - | €32,438 | +€32,438 | |
| Credit institutions | 430/8 | - | €32,438 | +€32,438 | |
| Trade debts | 44 | - | €4,173 | +€4,173 | |
| Suppliers | 440/4 | - | €4,173 | +€4,173 | |
| Taxes, remuneration and social security | 45 | €91,630 | €51,012 | -€40,618 | -44.3% |
| Taxes | 450/3 | €91,630 | €51,012 | -€40,618 | -44.3% |
| Other amounts payable | 47/48 | €121,937 | €69,223 | -€52,714 | -43.2% |
| Accrued charges and deferred income | 492/3 | €2,750 | €2,750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,383 | €14,575 | +€192 | +1.3% |
| Other operating charges | 640/8 | €5,713 | €15,370 | +€9,657 | +169% |
| Gross operating margin | 9900 | €429,021 | €319,695 | -€109,326 | -25.5% |
| Operating profit (loss) | 9901 | €408,925 | €289,751 | -€119,175 | -29.1% |
| Financial charges | 65/66B | €25,455 | €28,059 | +€2,604 | +10.2% |
| Recurring financial charges | 65 | €25,455 | €28,059 | +€2,604 | +10.2% |
| Profit (loss) for the period before taxes | 9903 | €383,471 | €261,691 | -€121,779 | -31.8% |
| Income taxes | 67/77 | €124,762 | €84,842 | -€39,920 | -32.0% |
| Profit (loss) for the period | 9904 | €258,709 | €176,849 | -€81,859 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €258,709 | €176,849 | -€81,859 | -31.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.