TOTHAI: 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.
TOTHAI
Largest movements
- Receivables after one year -€68,846
no longer reported in 2025 (was €68,846)
- Cash -€45,588
down €45,588 (-46.2%), from €98,694 to €53,105
mainly Investment in fixed assets (net) (-€70,495) and Contributions, distributions and other (-€54,930)
- Tangible fixed assets -€20,847
down €20,847 (-4.5%), from €466,107 to €445,260
of which Land and buildings: -€23,431
- Receivables within one year +€17,356
up €17,356 (+344%), from €5,040 to €22,395
of which Other amounts receivable: +€12,938
- Reserves -€54,930
down €54,930 (-36.2%), from €151,930 to €97,000
of which Distributable reserves: -€54,930
- Other debts -€28,123
down €28,123 (-39.7%), from €70,769 to €42,646
- Profit (loss) carried forward -€24,617
down €24,617 (-46.7%), from €52,712 to €28,095
- Trade debts +€17,070
up €17,070 (+39.4%), from €43,307 to €60,377
- Debts after one year -€16,030
down €16,030 (-6.2%), from €258,946 to €242,916
- Gross operating margin -€127,081
down €127,081 (-32.2%), from €394,181 to €267,100
- Taxes -€21,065
down €21,065 (-98.5%), from €21,375 to €310
- Depreciation +€5,876
up €5,876 (+6.9%), from €85,467 to €91,342
- Staff costs +€5,478
up €5,478 (+3.0%), from €180,590 to €186,069
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 | €663,427 | €545,125 | -€118,302 | -17.8% |
| Fixed assets | 21/28 | €466,107 | €445,260 | -€20,847 | -4.5% |
| Tangible fixed assets | 22/27 | €466,107 | €445,260 | -€20,847 | -4.5% |
| Land and buildings | 22 | €302,264 | €278,833 | -€23,431 | -7.8% |
| Plant, machinery and equipment | 23 | €89,568 | €109,975 | +€20,407 | +22.8% |
| Furniture and vehicles | 24 | €74,275 | €56,452 | -€17,823 | -24.0% |
| Current assets | 29/58 | €197,319 | €99,865 | -€97,454 | -49.4% |
| Amounts receivable after more than one year | 29 | €68,846 | - | -€68,846 | |
| Other amounts receivable | 291 | €68,846 | - | -€68,846 | |
| Stocks and contracts in progress | 3 | €20,831 | €17,385 | -€3,446 | -16.5% |
| Stocks | 30/36 | €20,831 | €17,385 | -€3,446 | -16.5% |
| Amounts receivable within one year | 40/41 | €5,040 | €22,395 | +€17,356 | +344% |
| Trade receivables | 40 | €535 | €4,953 | +€4,417 | +826% |
| Other amounts receivable | 41 | €4,504 | €17,442 | +€12,938 | +287% |
| Cash at bank and in hand | 54/58 | €98,694 | €53,105 | -€45,588 | -46.2% |
| Deferred charges and accrued income | 490/1 | €3,909 | €6,979 | +€3,071 | +78.6% |
| Total equity and liabilities | 10/49 | €663,427 | €545,125 | -€118,302 | -17.8% |
| Equity | 10/15 | €224,642 | €145,095 | -€79,546 | -35.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €151,930 | €97,000 | -€54,930 | -36.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €149,930 | €95,000 | -€54,930 | -36.6% |
| Profit (loss) carried forward | 14 | €52,712 | €28,095 | -€24,617 | -46.7% |
| Amounts payable | 17/49 | €438,785 | €400,030 | -€38,755 | -8.8% |
| Amounts payable after more than one year | 17 | €258,946 | €242,916 | -€16,030 | -6.2% |
| Financial debts | 170/4 | €258,946 | €242,916 | -€16,030 | -6.2% |
| Amounts payable within one year | 42/48 | €177,966 | €155,923 | -€22,043 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €38,186 | €27,955 | -€10,231 | -26.8% |
| Trade debts | 44 | €43,307 | €60,377 | +€17,070 | +39.4% |
| Suppliers | 440/4 | €43,307 | €60,377 | +€17,070 | +39.4% |
| Taxes, remuneration and social security | 45 | €25,705 | €24,946 | -€759 | -3.0% |
| Taxes | 450/3 | €25,705 | €24,946 | -€759 | -3.0% |
| Other amounts payable | 47/48 | €70,769 | €42,646 | -€28,123 | -39.7% |
| Accrued charges and deferred income | 492/3 | €1,872 | €1,190 | -€682 | -36.4% |
| Remuneration, social security and pensions | 62 | €180,590 | €186,069 | +€5,478 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,467 | €91,342 | +€5,876 | +6.9% |
| Other operating charges | 640/8 | €6,220 | €6,456 | +€237 | +3.8% |
| Non-recurring operating charges | 66A | €558 | - | -€558 | |
| Gross operating margin | 9900 | €394,181 | €267,100 | -€127,081 | -32.2% |
| Operating profit (loss) | 9901 | €121,346 | -€16,768 | -€138,114 | |
| Financial income | 75/76B | €3,518 | €698 | -€2,820 | -80.2% |
| Recurring financial income | 75 | €3,518 | €698 | -€2,820 | -80.2% |
| Financial charges | 65/66B | €6,046 | €8,236 | +€2,191 | +36.2% |
| Recurring financial charges | 65 | €6,046 | €8,236 | +€2,191 | +36.2% |
| Profit (loss) for the period before taxes | 9903 | €118,819 | -€24,306 | -€143,125 | |
| Income taxes | 67/77 | €21,375 | €310 | -€21,065 | -98.5% |
| Profit (loss) for the period | 9904 | €97,443 | -€24,617 | -€122,060 | |
| Profit (loss) for the period to be appropriated | 9905 | €97,443 | -€24,617 | -€122,060 |
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 22 October 2026 via checked.be.