TOROX: 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.
TOROX
Largest movements
- Receivables within one year -€43,443
down €43,443 (-16.9%), from €257,060 to €213,617
of which Trade receivables: -€23,633
- Tangible fixed assets -€34,896
down €34,896 (-16.4%), from €212,712 to €177,816
of which Plant, machinery and equipment: -€41,796
- Cash -€23,998
down €23,998 (-44.2%), from €54,260 to €30,262
mainly Debts after one year (-€48,021) and Other debts (-€35,000)
- Deferred charges and accrued income +€14,156
new in 2025: €14,156
- Debts after one year -€48,021
down €48,021 (-54.3%), from €88,412 to €40,391
- Other debts -€35,000
down €35,000 (-100%), from €35,000 to €0
- Trade debts +€28,450
up €28,450 (+41,190%), from €69 to €28,519
- Profit (loss) carried forward -€19,723
down €19,723 (-31.7%), from -€62,302 to -€82,025
- Tax, wage and social debts -€14,449
down €14,449 (-87.4%), from €16,541 to €2,092
- Gross operating margin -€106,191
down €106,191 (-55.9%), from €189,929 to €83,738
- Staff costs -€31,911
down €31,911 (-64.0%), from €49,894 to €17,983
- Depreciation -€2,177
down €2,177 (-3.8%), from €57,902 to €55,725
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 | €524,031 | €435,851 | -€88,180 | -16.8% |
| Fixed assets | 21/28 | €212,712 | €177,816 | -€34,896 | -16.4% |
| Tangible fixed assets | 22/27 | €212,712 | €177,816 | -€34,896 | -16.4% |
| Plant, machinery and equipment | 23 | €170,313 | €128,516 | -€41,796 | -24.5% |
| Furniture and vehicles | 24 | €42,399 | €49,299 | +€6,901 | +16.3% |
| Current assets | 29/58 | €311,320 | €258,035 | -€53,285 | -17.1% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €257,060 | €213,617 | -€43,443 | -16.9% |
| Trade receivables | 40 | €220,786 | €197,153 | -€23,633 | -10.7% |
| Other amounts receivable | 41 | €36,274 | €16,464 | -€19,809 | -54.6% |
| Cash at bank and in hand | 54/58 | €54,260 | €30,262 | -€23,998 | -44.2% |
| Deferred charges and accrued income | 490/1 | - | €14,156 | +€14,156 | |
| Total equity and liabilities | 10/49 | €524,031 | €435,851 | -€88,180 | -16.8% |
| Equity | 10/15 | €336,551 | €316,828 | -€19,723 | -5.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €273,853 | €273,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €271,853 | €271,853 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,302 | -€82,025 | -€19,723 | -31.7% |
| Amounts payable | 17/49 | €187,480 | €119,023 | -€68,457 | -36.5% |
| Amounts payable after more than one year | 17 | €88,412 | €40,391 | -€48,021 | -54.3% |
| Financial debts | 170/4 | €88,412 | €40,391 | -€48,021 | -54.3% |
| Amounts payable within one year | 42/48 | €99,068 | €78,632 | -€20,436 | -20.6% |
| Current portion of amounts payable after more than one year | 42 | €47,458 | €48,021 | +€563 | +1.2% |
| Trade debts | 44 | €69 | €28,519 | +€28,450 | +41,190% |
| Suppliers | 440/4 | €69 | €28,519 | +€28,450 | +41,190% |
| Taxes, remuneration and social security | 45 | €16,541 | €2,092 | -€14,449 | -87.4% |
| Taxes | 450/3 | €16,541 | €2,092 | -€14,449 | -87.4% |
| Other amounts payable | 47/48 | €35,000 | €0 | -€35,000 | -100% |
| Remuneration, social security and pensions | 62 | €49,894 | €17,983 | -€31,911 | -64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,902 | €55,725 | -€2,177 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,538 | €1,069 | -€1,469 | -57.9% |
| Non-recurring operating charges | 66A | - | €20,065 | +€20,065 | |
| Gross operating margin | 9900 | €189,929 | €83,738 | -€106,191 | -55.9% |
| Operating profit (loss) | 9901 | €79,595 | -€11,104 | -€90,699 | |
| Financial income | 75/76B | €2 | €1 | -€1 | -63.6% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -63.6% |
| Financial charges | 65/66B | €7,266 | €7,608 | +€343 | +4.7% |
| Recurring financial charges | 65 | €7,266 | €7,608 | +€343 | +4.7% |
| Profit (loss) for the period before taxes | 9903 | €72,331 | -€18,712 | -€91,043 | |
| Income taxes | 67/77 | €1,372 | €1,012 | -€361 | -26.3% |
| Profit (loss) for the period | 9904 | €70,959 | -€19,723 | -€90,682 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,959 | -€19,723 | -€90,682 |
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.