TORTUGA ERAN: 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 ERAN
Largest movements
- Cash +€39,070
up €39,070 (+104%), from €37,582 to €76,653
mainly Net result for the year (+€41,959) and Investment in fixed assets (net) (+€8,753)
- Intangible fixed assets -€22,609
down €22,609 (-98.7%), from €22,903 to €294
- Tangible fixed assets +€8,676
up €8,676 (+183%), from €4,746 to €13,422
of which Furniture and vehicles: +€9,597
- Profit (loss) carried forward +€21,959
up €21,959 (+399%), from €5,502 to €27,461
- Reserves +€20,000
up €20,000 (+200%), from €10,000 to €30,000
- Debts after one year -€5,184
down €5,184 (-23.5%), from €22,016 to €16,832
- Tax, wage and social debts -€4,723
down €4,723 (-36.2%), from €13,054 to €8,330
of which Taxes: -€4,723
- Other debts -€3,665
down €3,665 (-47.5%), from €7,720 to €4,056
- Gross operating margin +€71,479
up €71,479 (+482%), from €14,820 to €86,299
- Taxes +€11,864
up €11,864 (+1,186%), from €1,000 to €12,864
- Depreciation +€4,232
up €4,232 (+446%), from €949 to €5,181
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 | €74,865 | €100,902 | +€26,037 | +34.8% |
| Fixed assets | 21/28 | €27,649 | €13,715 | -€13,933 | -50.4% |
| Intangible fixed assets | 21 | €22,903 | €294 | -€22,609 | -98.7% |
| Tangible fixed assets | 22/27 | €4,746 | €13,422 | +€8,676 | +183% |
| Plant, machinery and equipment | 23 | €4,746 | €3,746 | -€1,000 | -21.1% |
| Furniture and vehicles | 24 | - | €9,597 | +€9,597 | |
| Other tangible fixed assets | 26 | - | €79 | +€79 | |
| Current assets | 29/58 | €47,216 | €87,187 | +€39,971 | +84.7% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,134 | €8,308 | +€173 | +2.1% |
| Trade receivables | 40 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 41 | €8,134 | €3,308 | -€4,827 | -59.3% |
| Cash at bank and in hand | 54/58 | €37,582 | €76,653 | +€39,070 | +104% |
| Deferred charges and accrued income | 490/1 | - | €727 | +€727 | |
| Total equity and liabilities | 10/49 | €74,865 | €100,902 | +€26,037 | +34.8% |
| Equity | 10/15 | €17,502 | €59,461 | +€41,959 | +240% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €30,000 | +€20,000 | +200% |
| Distributable reserves | 133 | €10,000 | €30,000 | +€20,000 | +200% |
| Profit (loss) carried forward | 14 | €5,502 | €27,461 | +€21,959 | +399% |
| Amounts payable | 17/49 | €57,363 | €41,441 | -€15,922 | -27.8% |
| Amounts payable after more than one year | 17 | €22,016 | €16,832 | -€5,184 | -23.5% |
| Financial debts | 170/4 | €22,016 | €16,832 | -€5,184 | -23.5% |
| Amounts payable within one year | 42/48 | €34,725 | €24,609 | -€10,115 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €4,984 | €5,184 | +€200 | +4.0% |
| Trade debts | 44 | €8,966 | €7,039 | -€1,927 | -21.5% |
| Suppliers | 440/4 | €8,966 | €7,039 | -€1,927 | -21.5% |
| Taxes, remuneration and social security | 45 | €13,054 | €8,330 | -€4,723 | -36.2% |
| Taxes | 450/3 | €11,804 | €7,080 | -€4,723 | -40.0% |
| Remuneration and social security | 454/9 | €1,250 | €1,250 | = | 0.0% |
| Other amounts payable | 47/48 | €7,720 | €4,056 | -€3,665 | -47.5% |
| Accrued charges and deferred income | 492/3 | €622 | - | -€622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €949 | €5,181 | +€4,232 | +446% |
| Other operating charges | 640/8 | €1,225 | €1,083 | -€142 | -11.6% |
| Non-recurring operating charges | 66A | - | €23,219 | +€23,219 | |
| Gross operating margin | 9900 | €14,820 | €86,299 | +€71,479 | +482% |
| Operating profit (loss) | 9901 | €12,646 | €56,816 | +€44,171 | +349% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €1,614 | €2,003 | +€389 | +24.1% |
| Recurring financial charges | 65 | €1,614 | €2,003 | +€389 | +24.1% |
| Profit (loss) for the period before taxes | 9903 | €11,031 | €54,823 | +€43,792 | +397% |
| Income taxes | 67/77 | €1,000 | €12,864 | +€11,864 | +1,186% |
| Profit (loss) for the period | 9904 | €10,031 | €41,959 | +€31,928 | +318% |
| Profit (loss) for the period to be appropriated | 9905 | €10,031 | €41,959 | +€31,928 | +318% |
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 20 October 2026 via checked.be.