TOULON: 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.
TOULON
Largest movements
- Current investments +€386,856
up €386,856 (+181%), from €213,144 to €600,000
- Receivables within one year -€265,877
down €265,877 (-98.2%), from €270,631 to €4,754
of which Trade receivables: -€260,225
- Cash +€173,689
up €173,689 (+3,162%), from €5,493 to €179,183
mainly Accrued charges and deferred income (+€391,665) and Receivables within one year (+€265,877)
- Tangible fixed assets +€9,080
up €9,080 (+68.8%), from €13,206 to €22,286
of which Furniture and vehicles: +€7,800
- Accrued charges and deferred income +€391,665
new in 2025: €391,665
- Reserves -€114,719
down €114,719 (-29.0%), from €395,572 to €280,853
- Other debts +€19,875
up €19,875, from €0 to €19,875
- Tax, wage and social debts +€9,884
up €9,884 (+9.6%), from €103,364 to €113,248
- Gross operating margin -€189,410
down €189,410 (-37.9%), from €499,726 to €310,316
- Taxes -€50,696
down €50,696 (-40.8%), from €124,400 to €73,704
- Financial income -€7,681
down €7,681 (-69.8%), from €11,003 to €3,322
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 | €518,480 | €826,638 | +€308,158 | +59.4% |
| Fixed assets | 21/28 | €27,187 | €37,333 | +€10,147 | +37.3% |
| Tangible fixed assets | 22/27 | €13,206 | €22,286 | +€9,080 | +68.8% |
| Plant, machinery and equipment | 23 | - | €1,280 | +€1,280 | |
| Furniture and vehicles | 24 | €13,206 | €21,006 | +€7,800 | +59.1% |
| Financial fixed assets | 28 | €13,981 | €15,048 | +€1,067 | +7.6% |
| Current assets | 29/58 | €491,293 | €789,304 | +€298,011 | +60.7% |
| Amounts receivable within one year | 40/41 | €270,631 | €4,754 | -€265,877 | -98.2% |
| Trade receivables | 40 | €262,687 | €2,462 | -€260,225 | -99.1% |
| Other amounts receivable | 41 | €7,944 | €2,293 | -€5,652 | -71.1% |
| Current investments | 50/53 | €213,144 | €600,000 | +€386,856 | +181% |
| Cash at bank and in hand | 54/58 | €5,493 | €179,183 | +€173,689 | +3,162% |
| Deferred charges and accrued income | 490/1 | €2,025 | €5,367 | +€3,343 | +165% |
| Total equity and liabilities | 10/49 | €518,480 | €826,638 | +€308,158 | +59.4% |
| Equity | 10/15 | €414,172 | €299,453 | -€114,719 | -27.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €395,572 | €280,853 | -€114,719 | -29.0% |
| Distributable reserves | 133 | €395,572 | €280,853 | -€114,719 | -29.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €104,308 | €527,185 | +€422,877 | +405% |
| Amounts payable within one year | 42/48 | €104,308 | €135,520 | +€31,212 | +29.9% |
| Financial debts | 43 | €221 | €55 | -€166 | -75.1% |
| Credit institutions | 430/8 | €221 | €0 | -€221 | -100% |
| Other loans | 439 | - | €55 | +€55 | |
| Trade debts | 44 | €724 | €2,342 | +€1,618 | +224% |
| Suppliers | 440/4 | €724 | €2,342 | +€1,618 | +224% |
| Taxes, remuneration and social security | 45 | €103,364 | €113,248 | +€9,884 | +9.6% |
| Taxes | 450/3 | €103,364 | €113,248 | +€9,884 | +9.6% |
| Other amounts payable | 47/48 | €0 | €19,875 | +€19,875 | |
| Accrued charges and deferred income | 492/3 | - | €391,665 | +€391,665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,613 | €3,186 | +€573 | +21.9% |
| Other operating charges | 640/8 | €1,455 | €1,385 | -€71 | -4.8% |
| Gross operating margin | 9900 | €499,726 | €310,316 | -€189,410 | -37.9% |
| Operating profit (loss) | 9901 | €495,658 | €305,745 | -€189,913 | -38.3% |
| Financial income | 75/76B | €11,003 | €3,322 | -€7,681 | -69.8% |
| Recurring financial income | 75 | €11,003 | €3,322 | -€7,681 | -69.8% |
| Financial charges | 65/66B | €129 | €82 | -€47 | -36.1% |
| Recurring financial charges | 65 | €129 | €82 | -€47 | -36.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €506,532 | €308,985 | -€197,547 | -39.0% |
| Income taxes | 67/77 | €124,400 | €73,704 | -€50,696 | -40.8% |
| Profit (loss) for the period | 9904 | €382,132 | €235,281 | -€146,851 | -38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €382,132 | €235,281 | -€146,851 | -38.4% |
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 15 October 2026 via checked.be.