TORO NATION: 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 NATION
Largest movements
- Cash +€95,819
up €95,819 (+75.3%), from €127,207 to €223,026
mainly Net result for the year (+€107,584) and Debts after one year (+€102,000)
- Debts after one year +€102,000
new in 2025: €102,000
- Profit (loss) carried forward -€12,416
down €12,416 (-9.9%), from €125,438 to €113,022
- Tax, wage and social debts +€4,789
up €4,789 (+23.3%), from €20,524 to €25,312
of which Taxes: +€4,039
- Gross operating margin +€8,139
up €8,139 (+6.2%), from €132,244 to €140,382
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 | €153,814 | €249,282 | +€95,468 | +62.1% |
| Fixed assets | 21/28 | €1,586 | €2,074 | +€488 | +30.7% |
| Tangible fixed assets | 22/27 | €1,586 | €2,074 | +€488 | +30.7% |
| Furniture and vehicles | 24 | €736 | €1,430 | +€694 | +94.3% |
| Other tangible fixed assets | 26 | €850 | €644 | -€206 | -24.3% |
| Current assets | 29/58 | €152,228 | €247,208 | +€94,980 | +62.4% |
| Amounts receivable within one year | 40/41 | €22,583 | €21,468 | -€1,115 | -4.9% |
| Trade receivables | 40 | €20,686 | €20,686 | = | 0.0% |
| Other amounts receivable | 41 | €1,897 | €782 | -€1,115 | -58.8% |
| Cash at bank and in hand | 54/58 | €127,207 | €223,026 | +€95,819 | +75.3% |
| Deferred charges and accrued income | 490/1 | €2,438 | €2,715 | +€276 | +11.3% |
| Total equity and liabilities | 10/49 | €153,814 | €249,282 | +€95,468 | +62.1% |
| Equity | 10/15 | €130,938 | €118,522 | -€12,416 | -9.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €125,438 | €113,022 | -€12,416 | -9.9% |
| Amounts payable | 17/49 | €22,876 | €130,760 | +€107,884 | +472% |
| Amounts payable after more than one year | 17 | - | €102,000 | +€102,000 | |
| Financial debts | 170/4 | - | €102,000 | +€102,000 | |
| Amounts payable within one year | 42/48 | €22,876 | €28,760 | +€5,884 | +25.7% |
| Trade debts | 44 | €411 | - | -€411 | |
| Suppliers | 440/4 | €411 | - | -€411 | |
| Taxes, remuneration and social security | 45 | €20,524 | €25,312 | +€4,789 | +23.3% |
| Taxes | 450/3 | €17,774 | €21,812 | +€4,039 | +22.7% |
| Remuneration and social security | 454/9 | €2,750 | €3,500 | +€750 | +27.3% |
| Other amounts payable | 47/48 | €1,942 | €3,448 | +€1,507 | +77.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €454 | €942 | +€488 | +107% |
| Other operating charges | 640/8 | €982 | €649 | -€333 | -33.9% |
| Gross operating margin | 9900 | €132,244 | €140,382 | +€8,139 | +6.2% |
| Operating profit (loss) | 9901 | €130,807 | €138,791 | +€7,984 | +6.1% |
| Financial charges | 65/66B | €635 | €613 | -€23 | -3.5% |
| Recurring financial charges | 65 | €635 | €613 | -€23 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €130,172 | €138,178 | +€8,006 | +6.2% |
| Income taxes | 67/77 | €29,282 | €30,594 | +€1,312 | +4.5% |
| Profit (loss) for the period | 9904 | €100,890 | €107,584 | +€6,694 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €100,890 | €107,584 | +€6,694 | +6.6% |
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 23 October 2026 via checked.be.