Tortuga Bay: 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.
Tortuga Bay
Largest movements
- Receivables within one year +€4,123
up €4,123 (+5.2%), from €79,385 to €83,507
of which Other amounts receivable: +€22,693
- Tangible fixed assets -€3,753
down €3,753 (-9.0%), from €41,710 to €37,957
- Trade debts -€26,038
down €26,038 (-59.2%), from €44,009 to €17,971
- Reserves +€24,500
up €24,500 (+49.6%), from €49,360 to €73,860
of which Distributable reserves: +€24,500
- Tax, wage and social debts +€8,082
up €8,082 (+578%), from €1,398 to €9,480
of which Taxes: +€8,082
- Short-term financial debts -€6,490
down €6,490 (-76.8%), from €8,453 to €1,963
- Gross operating margin +€41,148
up €41,148, from -€4,675 to €36,473
- Taxes +€8,046
up €8,046 (+3,603%), from €223 to €8,270
- Other operating charges -€1,031
down €1,031 (-61.3%), from €1,681 to €650
- Depreciation -€793
down €793 (-17.4%), from €4,546 to €3,753
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €122,086 | €122,238 | +€151 | +0.1% |
| Fixed assets | 21/28 | €41,710 | €37,957 | -€3,753 | -9.0% |
| Tangible fixed assets | 22/27 | €41,710 | €37,957 | -€3,753 | -9.0% |
| Land and buildings | 22 | €33,884 | €32,042 | -€1,842 | -5.4% |
| Plant, machinery and equipment | 23 | €6,894 | €5,170 | -€1,724 | -25.0% |
| Furniture and vehicles | 24 | €932 | €745 | -€187 | -20.1% |
| Current assets | 29/58 | €80,376 | €84,281 | +€3,904 | +4.9% |
| Amounts receivable within one year | 40/41 | €79,385 | €83,507 | +€4,123 | +5.2% |
| Trade receivables | 40 | €41,559 | €22,989 | -€18,570 | -44.7% |
| Other amounts receivable | 41 | €37,826 | €60,519 | +€22,693 | +60.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €991 | €773 | -€218 | -22.0% |
| Total equity and liabilities | 10/49 | €122,086 | €122,238 | +€151 | +0.1% |
| Equity | 10/15 | €68,226 | €92,823 | +€24,598 | +36.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €49,360 | €73,860 | +€24,500 | +49.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,500 | €72,000 | +€24,500 | +51.6% |
| Profit (loss) carried forward | 14 | €266 | €363 | +€98 | +36.8% |
| Amounts payable | 17/49 | €53,861 | €29,414 | -€24,446 | -45.4% |
| Amounts payable within one year | 42/48 | €53,861 | €29,414 | -€24,446 | -45.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €8,453 | €1,963 | -€6,490 | -76.8% |
| Credit institutions | 430/8 | €8,453 | €1,963 | -€6,490 | -76.8% |
| Trade debts | 44 | €44,009 | €17,971 | -€26,038 | -59.2% |
| Suppliers | 440/4 | €44,009 | €17,971 | -€26,038 | -59.2% |
| Taxes, remuneration and social security | 45 | €1,398 | €9,480 | +€8,082 | +578% |
| Taxes | 450/3 | €1,398 | €9,480 | +€8,082 | +578% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,546 | €3,753 | -€793 | -17.4% |
| Other operating charges | 640/8 | €1,681 | €650 | -€1,031 | -61.3% |
| Gross operating margin | 9900 | -€4,675 | €36,473 | +€41,148 | |
| Operating profit (loss) | 9901 | -€10,901 | €32,071 | +€42,972 | |
| Financial income | 75/76B | €2,340 | €2,359 | +€19 | +0.8% |
| Recurring financial income | 75 | €2,340 | €2,359 | +€19 | +0.8% |
| Financial charges | 65/66B | €1,277 | €1,563 | +€286 | +22.4% |
| Recurring financial charges | 65 | €1,277 | €1,563 | +€286 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,838 | €32,867 | +€42,705 | |
| Income taxes | 67/77 | €223 | €8,270 | +€8,046 | +3,603% |
| Profit (loss) for the period | 9904 | -€10,061 | €24,598 | +€34,659 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,061 | €24,598 | +€34,659 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.