Torreta: 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.
What changed
Torreta
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€405,558
2024 · €381,919+€23,639
Equity
€1.4m
2024 · €1.4m+€12,386
Cash
€23,596
2024 · €17,891+€5,705
Balance sheet total
€2.6m
2024 · €2.8m-€148,218
Largest movements
Assets
- Current investments -€94,000
down €94,000 (-100%), from €94,000 to €0
- Receivables within one year -€76,936
down €76,936 (-23.5%), from €326,885 to €249,949
of which Trade receivables: -€233,021
- Receivables after one year +€35,500
new in 2025: €35,500
Equity and liabilities
- Other debts -€157,301
down €157,301 (-39.2%), from €401,527 to €244,226
- Accrued charges and deferred income -€146,823
down €146,823 (-100.0%), from €146,884 to €60
- Debts after one year +€109,645
up €109,645 (+16.9%), from €649,561 to €759,205
- Current portion of long-term debt +€45,729
up €45,729 (+39.1%), from €117,083 to €162,811
Income statement
- Financial income +€75,832
up €75,832 (+105,454%), from €72 to €75,904
- Staff costs +€37,506
up €37,506 (+19.2%), from €195,312 to €232,818
- Taxes +€26,282
up €26,282 (+16.3%), from €160,809 to €187,091
- Gross operating margin +€23,771
up €23,771 (+2.9%), from €827,315 to €851,086
- Depreciation +€19,677
up €19,677 (+44.3%), from €44,423 to €64,100
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.
Result 2024
€381,919
Gross operating margin
+€23,771
Staff costs
-€37,506
Depreciation
-€19,677
Other operating charges
-€425
Financial income
+€75,832
Financial charges
+€7,926
Taxes
-€26,282
Result 2025
€405,558
raises the resultlowers the result
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.
From operations
+€186,134
Investment
+€57,370
Financing
-€237,799
Cash 2024
€17,891
From operations (derived)
+€186,134
Net result for the year
+€405,558
Depreciation
+€64,100
Receivables after one year
-€35,500
Receivables within one year
+€76,936
Deferred charges and accrued income
-€8,983
Trade debts
-€12,247
Tax, wage and social debts
+€394
Other debts
-€157,301
Accrued charges and deferred income
-€146,823
Investment (derived)
+€57,370
Investment in fixed assets (net)
-€36,630
Current investments
+€94,000
Financing
-€237,799
Debts after one year
+€109,645
Current portion of long-term debt
+€45,729
Contributions, distributions and other
-€393,172
Cash 2025
€23,596
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,786,172 | €2,637,954 | -€148,218 | -5.3% |
| Formation expenses | 20 | €2,000 | €1,500 | -€500 | -25.0% |
| Fixed assets | 21/28 | €2,341,366 | €2,314,396 | -€26,970 | -1.2% |
| Intangible fixed assets | 21 | €27,203 | €12,891 | -€14,312 | -52.6% |
| Tangible fixed assets | 22/27 | €934,967 | €922,309 | -€12,658 | -1.4% |
| Land and buildings | 22 | €804,445 | €792,158 | -€12,287 | -1.5% |
| Furniture and vehicles | 24 | €211 | €0 | -€211 | -100% |
| Leasing and similar rights | 25 | €130,311 | €130,151 | -€159 | -0.1% |
| Financial fixed assets | 28 | €1,379,196 | €1,379,196 | = | 0.0% |
| Current assets | 29/58 | €442,807 | €322,058 | -€120,748 | -27.3% |
| Amounts receivable after more than one year | 29 | - | €35,500 | +€35,500 | |
| Other amounts receivable | 291 | - | €35,500 | +€35,500 | |
| Amounts receivable within one year | 40/41 | €326,885 | €249,949 | -€76,936 | -23.5% |
| Trade receivables | 40 | €263,203 | €30,182 | -€233,021 | -88.5% |
| Other amounts receivable | 41 | €63,682 | €219,767 | +€156,085 | +245% |
| Current investments | 50/53 | €94,000 | €0 | -€94,000 | -100% |
| Cash at bank and in hand | 54/58 | €17,891 | €23,596 | +€5,705 | +31.9% |
| Deferred charges and accrued income | 490/1 | €4,031 | €13,014 | +€8,983 | +223% |
| Total equity and liabilities | 10/49 | €2,786,172 | €2,637,954 | -€148,218 | -5.3% |
| Equity | 10/15 | €1,408,301 | €1,420,687 | +€12,386 | +0.9% |
| Contributions | 10/11 | €282,297 | €282,297 | = | 0.0% |
| Reserves | 13 | €1,126,004 | €1,138,390 | +€12,386 | +1.1% |
| Non-distributable reserves | 130/1 | €7,720 | €7,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,720 | €7,720 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,085 | €5,085 | = | 0.0% |
| Distributable reserves | 133 | €1,113,199 | €1,125,585 | +€12,386 | +1.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,377,871 | €1,217,267 | -€160,604 | -11.7% |
| Amounts payable after more than one year | 17 | €649,561 | €759,205 | +€109,645 | +16.9% |
| Financial debts | 170/4 | €649,561 | €759,205 | +€109,645 | +16.9% |
| Amounts payable within one year | 42/48 | €581,427 | €458,002 | -€123,425 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €117,083 | €162,811 | +€45,729 | +39.1% |
| Trade debts | 44 | €35,667 | €23,421 | -€12,247 | -34.3% |
| Suppliers | 440/4 | €35,667 | €23,421 | -€12,247 | -34.3% |
| Taxes, remuneration and social security | 45 | €27,150 | €27,544 | +€394 | +1.5% |
| Taxes | 450/3 | €2,774 | €750 | -€2,024 | -73.0% |
| Remuneration and social security | 454/9 | €24,376 | €26,794 | +€2,418 | +9.9% |
| Other amounts payable | 47/48 | €401,527 | €244,226 | -€157,301 | -39.2% |
| Accrued charges and deferred income | 492/3 | €146,884 | €60 | -€146,823 | -100.0% |
| Remuneration, social security and pensions | 62 | €195,312 | €232,818 | +€37,506 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,423 | €64,100 | +€19,677 | +44.3% |
| Other operating charges | 640/8 | €4,222 | €4,647 | +€425 | +10.1% |
| Gross operating margin | 9900 | €827,315 | €851,086 | +€23,771 | +2.9% |
| Operating profit (loss) | 9901 | €583,358 | €549,521 | -€33,837 | -5.8% |
| Financial income | 75/76B | €72 | €75,904 | +€75,832 | +105,454% |
| Recurring financial income | 75 | €72 | €75,904 | +€75,832 | +105,454% |
| Financial charges | 65/66B | €40,702 | €32,776 | -€7,926 | -19.5% |
| Recurring financial charges | 65 | €40,702 | €32,776 | -€7,926 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €542,728 | €592,649 | +€49,921 | +9.2% |
| Income taxes | 67/77 | €160,809 | €187,091 | +€26,282 | +16.3% |
| Profit (loss) for the period | 9904 | €381,919 | €405,558 | +€23,639 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €381,919 | €405,558 | +€23,639 | +6.2% |
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 15 October 2026 via checked.be.