TORVAN: 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.
TORVAN
Largest movements
- Cash +€324,516
up €324,516 (+482.1%), from €67,314 to €391,830
mainly Stocks and contracts (+€241,894) and Investment in fixed assets (net) (+€223,100)
- Stocks and contracts -€241,894
no longer reported in 2024 (was €241,894)
- Financial fixed assets -€223,100
down €223,100 (-66.7%), from €334,675 to €111,575
- Receivables within one year -€143,148
down €143,148 (-24.0%), from €596,481 to €453,332
of which Other amounts receivable: -€72,559
- Other debts -€258,282
down €258,282 (-31.1%), from €831,745 to €573,463
- Debts after one year -€167,276
no longer reported in 2024 (was €167,276)
- Trade debts +€149,525
up €149,525 (+1209.4%), from €12,363 to €161,888
- Accrued charges and deferred income +€68,331
new in 2024: €68,331
- Reserves -€61,304
down €61,304 (-42.6%), from €143,990 to €82,686
- Financial charges +€242,163
up €242,163 (+11822.1%), from €2,048 to €244,211
of which Non-recurring financial charges: +€233,601
- Gross operating margin +€46,287
up €46,287 (+23.7%), from €195,164 to €241,451
- Taxes +€9,511
up €9,511 (+19.8%), from €48,030 to €57,541
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,241,543 | €957,917 | -€283,627 | -22.8% |
| Fixed assets | 21/28 | €334,675 | €111,575 | -€223,100 | -66.7% |
| Financial fixed assets | 28 | €334,675 | €111,575 | -€223,100 | -66.7% |
| Current assets | 29/58 | €906,868 | €846,342 | -€60,527 | -6.7% |
| Stocks and contracts in progress | 3 | €241,894 | - | -€241,894 | |
| Stocks | 30/36 | €241,894 | - | -€241,894 | |
| Amounts receivable within one year | 40/41 | €596,481 | €453,332 | -€143,148 | -24.0% |
| Trade receivables | 40 | €73,218 | €2,628 | -€70,589 | -96.4% |
| Other amounts receivable | 41 | €523,263 | €450,704 | -€72,559 | -13.9% |
| Cash at bank and in hand | 54/58 | €67,314 | €391,830 | +€324,516 | +482.1% |
| Deferred charges and accrued income | 490/1 | €1,180 | €1,180 | -€0 | 0.0% |
| Total equity and liabilities | 10/49 | €1,241,543 | €957,917 | -€283,627 | -22.8% |
| Equity | 10/15 | €149,990 | €88,686 | -€61,304 | -40.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €143,990 | €82,686 | -€61,304 | -42.6% |
| Distributable reserves | 133 | €143,990 | €82,686 | -€61,304 | -42.6% |
| Amounts payable | 17/49 | €1,091,553 | €869,230 | -€222,323 | -20.4% |
| Amounts payable after more than one year | 17 | €167,276 | - | -€167,276 | |
| Financial debts | 170/4 | €167,276 | - | -€167,276 | |
| Amounts payable within one year | 42/48 | €924,277 | €800,899 | -€123,378 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €19,604 | - | -€19,604 | |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €12,363 | €161,888 | +€149,525 | +1209.4% |
| Suppliers | 440/4 | €12,363 | €161,888 | +€149,525 | +1209.4% |
| Taxes, remuneration and social security | 45 | €60,565 | €65,544 | +€4,979 | +8.2% |
| Taxes | 450/3 | €60,565 | €65,544 | +€4,979 | +8.2% |
| Other amounts payable | 47/48 | €831,745 | €573,463 | -€258,282 | -31.1% |
| Accrued charges and deferred income | 492/3 | - | €68,331 | +€68,331 | |
| Other operating charges | 640/8 | €649 | €1,093 | +€444 | +68.3% |
| Gross operating margin | 9900 | €195,164 | €241,451 | +€46,287 | +23.7% |
| Operating profit (loss) | 9901 | €194,515 | €240,358 | +€45,843 | +23.6% |
| Financial income | 75/76B | - | €90 | +€90 | |
| Recurring financial income | 75 | - | €90 | +€90 | |
| Financial charges | 65/66B | €2,048 | €244,211 | +€242,163 | +11822.1% |
| Recurring financial charges | 65 | €2,048 | €10,610 | +€8,562 | +418.0% |
| Non-recurring financial charges | 66B | - | €233,601 | +€233,601 | |
| Profit (loss) for the period before taxes | 9903 | €192,467 | -€3,763 | -€196,230 | |
| Income taxes | 67/77 | €48,030 | €57,541 | +€9,511 | +19.8% |
| Profit (loss) for the period | 9904 | €144,436 | -€61,304 | -€205,741 | |
| Profit (loss) for the period to be appropriated | 9905 | €144,436 | -€61,304 | -€205,741 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.