Torvarko: 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.
Torvarko
Largest movements
- Receivables within one year +€56,508
up €56,508 (+30.3%), from €186,475 to €242,983
- Tangible fixed assets -€4,595
down €4,595 (-18.7%), from €24,623 to €20,028
- Profit (loss) carried forward +€32,292
up €32,292 (+34.2%), from -€94,543 to -€62,251
- Trade debts +€15,391
up €15,391 (+215.5%), from €7,143 to €22,534
- Other debts +€4,482
up €4,482 (+1.6%), from €275,895 to €280,377
- Gross operating margin -€25,110
down €25,110 (-38.3%), from €65,549 to €40,439
- Depreciation -€7,954
down €7,954 (-63.4%), from €12,549 to €4,595
- Other operating charges -€3,428
down €3,428 (-54.2%), from €6,326 to €2,897
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.
Cash bridge derived
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 | €214,426 | €267,303 | +€52,877 | +24.7% |
| Fixed assets | 21/28 | €26,480 | €21,886 | -€4,595 | -17.4% |
| Tangible fixed assets | 22/27 | €24,623 | €20,028 | -€4,595 | -18.7% |
| Land and buildings | 22 | €24,623 | €20,028 | -€4,595 | -18.7% |
| Financial fixed assets | 28 | €1,858 | €1,858 | = | 0.0% |
| Current assets | 29/58 | €187,946 | €245,418 | +€57,472 | +30.6% |
| Amounts receivable within one year | 40/41 | €186,475 | €242,983 | +€56,508 | +30.3% |
| Trade receivables | 40 | €186,475 | €242,983 | +€56,508 | +30.3% |
| Cash at bank and in hand | 54/58 | €666 | €1,690 | +€1,024 | +153.8% |
| Deferred charges and accrued income | 490/1 | €805 | €745 | -€61 | -7.5% |
| Total equity and liabilities | 10/49 | €214,426 | €267,303 | +€52,877 | +24.7% |
| Equity | 10/15 | -€75,793 | -€43,501 | +€32,292 | +42.6% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€94,543 | -€62,251 | +€32,292 | +34.2% |
| Amounts payable | 17/49 | €290,219 | €310,804 | +€20,585 | +7.1% |
| Amounts payable within one year | 42/48 | €290,219 | €310,804 | +€20,585 | +7.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,143 | €22,534 | +€15,391 | +215.5% |
| Suppliers | 440/4 | €7,143 | €22,534 | +€15,391 | +215.5% |
| Taxes, remuneration and social security | 45 | €7,181 | €7,893 | +€712 | +9.9% |
| Taxes | 450/3 | €7,181 | €7,893 | +€712 | +9.9% |
| Other amounts payable | 47/48 | €275,895 | €280,377 | +€4,482 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,549 | €4,595 | -€7,954 | -63.4% |
| Other operating charges | 640/8 | €6,326 | €2,897 | -€3,428 | -54.2% |
| Gross operating margin | 9900 | €65,549 | €40,439 | -€25,110 | -38.3% |
| Operating profit (loss) | 9901 | €46,674 | €32,947 | -€13,727 | -29.4% |
| Financial charges | 65/66B | €1,091 | €655 | -€436 | -40.0% |
| Recurring financial charges | 65 | €1,091 | €655 | -€436 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €45,583 | €32,292 | -€13,291 | -29.2% |
| Profit (loss) for the period | 9904 | €45,583 | €32,292 | -€13,291 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €45,583 | €32,292 | -€13,291 | -29.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.