Toti Equestrian: 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.
Toti Equestrian
Largest movements
- Stocks and contracts +€132,972
up €132,972 (+261%), from €50,954 to €183,925
- Cash -€91,328
down €91,328 (-60.9%), from €150,027 to €58,699
mainly Stocks and contracts (-€132,972) and Other debts (-€119,000)
- Intangible fixed assets +€30,591
up €30,591 (+573%), from €5,338 to €35,928
- Tangible fixed assets -€27,392
down €27,392 (-20.1%), from €135,947 to €108,556
- Formation expenses -€11,281
no longer reported in 2025 (was €11,281)
- Other debts -€119,000
down €119,000 (-74.6%), from €159,453 to €40,453
- Trade debts +€82,671
up €82,671 (+192%), from €43,044 to €125,715
- Reserves +€52,960
up €52,960 (+440%), from €12,038 to €64,998
- Tax, wage and social debts +€23,217
up €23,217 (+109%), from €21,241 to €44,458
- Gross operating margin +€38,824
up €38,824 (+36.3%), from €106,843 to €145,667
- Taxes +€10,189
up €10,189 (+69.5%), from €14,659 to €24,848
- Financial charges +€4,974
up €4,974 (+96.2%), from €5,173 to €10,146
- Depreciation +€4,301
up €4,301 (+10.2%), from €42,249 to €46,551
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 | €395,153 | €430,763 | +€35,609 | +9.0% |
| Formation expenses | 20 | €11,281 | - | -€11,281 | |
| Fixed assets | 21/28 | €141,285 | €144,484 | +€3,199 | +2.3% |
| Intangible fixed assets | 21 | €5,338 | €35,928 | +€30,591 | +573% |
| Tangible fixed assets | 22/27 | €135,947 | €108,556 | -€27,392 | -20.1% |
| Furniture and vehicles | 24 | €135,947 | €108,556 | -€27,392 | -20.1% |
| Current assets | 29/58 | €242,588 | €286,279 | +€43,691 | +18.0% |
| Stocks and contracts in progress | 3 | €50,954 | €183,925 | +€132,972 | +261% |
| Stocks | 30/36 | €50,954 | €183,925 | +€132,972 | +261% |
| Amounts receivable within one year | 40/41 | €40,835 | €40,254 | -€581 | -1.4% |
| Trade receivables | 40 | €18,053 | €30,500 | +€12,447 | +68.9% |
| Other amounts receivable | 41 | €22,781 | €9,754 | -€13,028 | -57.2% |
| Cash at bank and in hand | 54/58 | €150,027 | €58,699 | -€91,328 | -60.9% |
| Deferred charges and accrued income | 490/1 | €773 | €3,401 | +€2,628 | +340% |
| Total equity and liabilities | 10/49 | €395,153 | €430,763 | +€35,609 | +9.0% |
| Equity | 10/15 | €14,038 | €66,998 | +€52,960 | +377% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €12,038 | €64,998 | +€52,960 | +440% |
| Distributable reserves | 133 | €12,038 | €64,998 | +€52,960 | +440% |
| Amounts payable | 17/49 | €381,115 | €363,765 | -€17,350 | -4.6% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Other amounts payable | 178/9 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €223,738 | €210,626 | -€13,112 | -5.9% |
| Trade debts | 44 | €43,044 | €125,715 | +€82,671 | +192% |
| Suppliers | 440/4 | €43,044 | €125,715 | +€82,671 | +192% |
| Taxes, remuneration and social security | 45 | €21,241 | €44,458 | +€23,217 | +109% |
| Taxes | 450/3 | €21,241 | €44,458 | +€23,217 | +109% |
| Other amounts payable | 47/48 | €159,453 | €40,453 | -€119,000 | -74.6% |
| Accrued charges and deferred income | 492/3 | €7,378 | €3,139 | -€4,239 | -57.4% |
| Non-recurring operating income | 76A | €2,491 | - | -€2,491 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,249 | €46,551 | +€4,301 | +10.2% |
| Other operating charges | 640/8 | €1,423 | €1,746 | +€322 | +22.6% |
| Gross operating margin | 9900 | €106,843 | €145,667 | +€38,824 | +36.3% |
| Operating profit (loss) | 9901 | €63,170 | €97,370 | +€34,200 | +54.1% |
| Financial income | 75/76B | €841 | €584 | -€258 | -30.6% |
| Recurring financial income | 75 | €841 | €584 | -€258 | -30.6% |
| Financial charges | 65/66B | €5,173 | €10,146 | +€4,974 | +96.2% |
| Recurring financial charges | 65 | €5,173 | €10,146 | +€4,974 | +96.2% |
| Profit (loss) for the period before taxes | 9903 | €58,839 | €87,807 | +€28,969 | +49.2% |
| Income taxes | 67/77 | €14,659 | €24,848 | +€10,189 | +69.5% |
| Profit (loss) for the period | 9904 | €44,180 | €62,960 | +€18,780 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,180 | €62,960 | +€18,780 | +42.5% |
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 17 October 2026 via checked.be.