Torseo: 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.
Torseo
Largest movements
- Receivables within one year +€8,529
up €8,529 (+1,381%), from €618 to €9,146
of which Trade receivables: +€8,313
- Cash -€3,367
down €3,367 (-21.7%), from €15,550 to €12,183
mainly Receivables within one year (-€8,529) and Other debts (-€2,157)
- Intangible fixed assets -€1,300
down €1,300 (-26.7%), from €4,869 to €3,569
- Tangible fixed assets +€619
new in 2025: €619
- Deferred charges and accrued income -€357
down €357 (-42.9%), from €832 to €476
- Tax, wage and social debts +€5,714
up €5,714 (+76.9%), from €7,426 to €13,140
of which Remuneration and social security: +€2,892
- Other debts -€2,157
down €2,157 (-75.5%), from €2,857 to €700
- Trade debts +€1,637
up €1,637 (+61.7%), from €2,654 to €4,291
- Reserves -€1,070
down €1,070 (-14.4%), from €7,431 to €6,362
- Gross operating margin -€15,314
down €15,314 (-88.3%), from €17,340 to €2,026
- Taxes -€2,908
down €2,908 (-75.5%), from €3,852 to €943
- Depreciation -€1,122
down €1,122 (-42.5%), from €2,638 to €1,516
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 | €21,869 | €25,992 | +€4,123 | +18.9% |
| Fixed assets | 21/28 | €4,869 | €4,188 | -€681 | -14.0% |
| Intangible fixed assets | 21 | €4,869 | €3,569 | -€1,300 | -26.7% |
| Tangible fixed assets | 22/27 | - | €619 | +€619 | |
| Furniture and vehicles | 24 | - | €619 | +€619 | |
| Current assets | 29/58 | €17,000 | €21,804 | +€4,804 | +28.3% |
| Amounts receivable within one year | 40/41 | €618 | €9,146 | +€8,529 | +1,381% |
| Trade receivables | 40 | €532 | €8,845 | +€8,313 | +1,562% |
| Other amounts receivable | 41 | €85 | €301 | +€216 | +253% |
| Cash at bank and in hand | 54/58 | €15,550 | €12,183 | -€3,367 | -21.7% |
| Deferred charges and accrued income | 490/1 | €832 | €476 | -€357 | -42.9% |
| Total equity and liabilities | 10/49 | €21,869 | €25,992 | +€4,123 | +18.9% |
| Equity | 10/15 | €8,931 | €7,862 | -€1,070 | -12.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €7,431 | €6,362 | -€1,070 | -14.4% |
| Distributable reserves | 133 | €7,431 | €6,362 | -€1,070 | -14.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,937 | €18,131 | +€5,193 | +40.1% |
| Amounts payable within one year | 42/48 | €12,937 | €18,131 | +€5,193 | +40.1% |
| Trade debts | 44 | €2,654 | €4,291 | +€1,637 | +61.7% |
| Suppliers | 440/4 | €2,654 | €4,291 | +€1,637 | +61.7% |
| Taxes, remuneration and social security | 45 | €7,426 | €13,140 | +€5,714 | +76.9% |
| Taxes | 450/3 | €7,426 | €10,248 | +€2,822 | +38.0% |
| Remuneration and social security | 454/9 | - | €2,892 | +€2,892 | |
| Other amounts payable | 47/48 | €2,857 | €700 | -€2,157 | -75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,638 | €1,516 | -€1,122 | -42.5% |
| Other operating charges | 640/8 | €394 | €546 | +€152 | +38.6% |
| Gross operating margin | 9900 | €17,340 | €2,026 | -€15,314 | -88.3% |
| Operating profit (loss) | 9901 | €14,309 | -€35 | -€14,344 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €168 | €91 | -€77 | -45.7% |
| Recurring financial charges | 65 | €168 | €91 | -€77 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €14,140 | -€127 | -€14,267 | |
| Income taxes | 67/77 | €3,852 | €943 | -€2,908 | -75.5% |
| Profit (loss) for the period | 9904 | €10,289 | -€1,070 | -€11,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,289 | -€1,070 | -€11,358 |
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 18 October 2026 via checked.be.