TORQUE: what changed
Two fiscal 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.
TORQUE
Largest movements
- Receivables within one year +€151,696
up €151,696 (+1094.5%), from €13,860 to €165,556
- Tangible fixed assets -€52,604
down €52,604 (-4.0%), from €1.3m to €1.3m
- Reserves +€128,455
up €128,455 (+86.0%), from €149,317 to €277,772
- Debts after one year -€80,194
down €80,194 (-8.5%), from €946,788 to €866,594
- Short-term financial debts +€34,312
up €34,312 (+466.6%), from €7,354 to €41,667
- Other debts +€26,055
new in 2025: €26,055
- Gross operating margin +€145,958
up €145,958 (+70.0%), from €208,595 to €354,553
- Taxes +€44,875
up €44,875 (+165.9%), from €27,056 to €71,930
- Staff costs +€18,725
up €18,725 (+48.3%), from €38,738 to €57,464
- Financial charges -€4,559
down €4,559 (-31.6%), from €14,444 to €9,885
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 | €1,555,609 | €1,662,859 | +€107,250 | +6.9% |
| Fixed assets | 21/28 | €1,531,248 | €1,478,644 | -€52,604 | -3.4% |
| Tangible fixed assets | 22/27 | €1,323,248 | €1,270,644 | -€52,604 | -4.0% |
| Land and buildings | 22 | €1,323,248 | €1,270,644 | -€52,604 | -4.0% |
| Financial fixed assets | 28 | €208,000 | €208,000 | = | 0.0% |
| Current assets | 29/58 | €24,361 | €184,215 | +€159,854 | +656.2% |
| Amounts receivable within one year | 40/41 | €13,860 | €165,556 | +€151,696 | +1094.5% |
| Trade receivables | 40 | €13,860 | €165,556 | +€151,696 | +1094.5% |
| Cash at bank and in hand | 54/58 | €10,501 | €18,659 | +€8,158 | +77.7% |
| Total equity and liabilities | 10/49 | €1,555,609 | €1,662,859 | +€107,250 | +6.9% |
| Equity | 10/15 | €452,587 | €581,042 | +€128,455 | +28.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €149,317 | €277,772 | +€128,455 | +86.0% |
| Distributable reserves | 133 | €149,317 | €277,772 | +€128,455 | +86.0% |
| Profit (loss) carried forward | 14 | €284,670 | €284,670 | = | 0.0% |
| Provisions and deferred taxes | 16 | €19,500 | €19,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €19,500 | €19,500 | = | 0.0% |
| Pensions and similar obligations | 160 | €19,500 | €19,500 | = | 0.0% |
| Amounts payable | 17/49 | €1,083,522 | €1,062,317 | -€21,205 | -2.0% |
| Amounts payable after more than one year | 17 | €946,788 | €866,594 | -€80,194 | -8.5% |
| Financial debts | 170/4 | €946,788 | €866,594 | -€80,194 | -8.5% |
| Amounts payable within one year | 42/48 | €136,368 | €195,722 | +€59,354 | +43.5% |
| Current portion of amounts payable after more than one year | 42 | €87,323 | €80,194 | -€7,129 | -8.2% |
| Financial debts | 43 | €7,354 | €41,667 | +€34,312 | +466.6% |
| Credit institutions | 430/8 | €7,354 | €41,667 | +€34,312 | +466.6% |
| Trade debts | 44 | €31,484 | €21,748 | -€9,736 | -30.9% |
| Suppliers | 440/4 | €31,484 | €21,748 | -€9,736 | -30.9% |
| Taxes, remuneration and social security | 45 | €10,206 | €26,059 | +€15,852 | +155.3% |
| Taxes | 450/3 | €7,185 | €19,688 | +€12,503 | +174.0% |
| Remuneration and social security | 454/9 | €3,021 | €6,370 | +€3,349 | +110.8% |
| Other amounts payable | 47/48 | - | €26,055 | +€26,055 | |
| Accrued charges and deferred income | 492/3 | €366 | - | -€366 | |
| Remuneration, social security and pensions | 62 | €38,738 | €57,464 | +€18,725 | +48.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,293 | €52,604 | -€689 | -1.3% |
| Other operating charges | 640/8 | €7,840 | €8,161 | +€322 | +4.1% |
| Gross operating margin | 9900 | €208,595 | €354,553 | +€145,958 | +70.0% |
| Operating profit (loss) | 9901 | €108,724 | €236,325 | +€127,600 | +117.4% |
| Financial charges | 65/66B | €14,444 | €9,885 | -€4,559 | -31.6% |
| Recurring financial charges | 65 | €14,444 | €9,885 | -€4,559 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | €94,280 | €226,440 | +€132,160 | +140.2% |
| Income taxes | 67/77 | €27,056 | €71,930 | +€44,875 | +165.9% |
| Profit (loss) for the period | 9904 | €67,225 | €154,510 | +€87,285 | +129.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,225 | €154,510 | +€87,285 | +129.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.