TOUREX: 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.
TOUREX
Largest movements
- Cash +€192,635
up €192,635 (+11.8%), from €1.6m to €1.8m
mainly Net result for the year (+€367,744) and Receivables within one year (+€164,486)
- Receivables within one year -€164,486
down €164,486 (-17.9%), from €921,469 to €756,983
of which Trade receivables: -€233,830
- Tangible fixed assets -€61,456
down €61,456 (-3.5%), from €1.7m to €1.7m
of which Furniture and vehicles: -€32,379
- Reserves +€372,000
up €372,000 (+16.5%), from €2.3m to €2.6m
of which Distributable reserves: +€372,000
- Other debts -€296,501
down €296,501 (-49.2%), from €602,979 to €306,478
- Debts after one year -€121,659
down €121,659 (-41.1%), from €296,223 to €174,563
- Gross operating margin +€166,116
up €166,116 (+15.7%), from €1.1m to €1.2m
- Staff costs +€76,156
up €76,156 (+15.2%), from €501,130 to €577,286
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 | €4,596,192 | €4,569,834 | -€26,357 | -0.6% |
| Fixed assets | 21/28 | €1,739,697 | €1,678,240 | -€61,456 | -3.5% |
| Tangible fixed assets | 22/27 | €1,739,578 | €1,678,122 | -€61,456 | -3.5% |
| Land and buildings | 22 | €1,523,283 | €1,496,825 | -€26,459 | -1.7% |
| Plant, machinery and equipment | 23 | €92,928 | €90,420 | -€2,509 | -2.7% |
| Furniture and vehicles | 24 | €122,817 | €90,438 | -€32,379 | -26.4% |
| Leasing and similar rights | 25 | €549 | €439 | -€110 | -20.0% |
| Financial fixed assets | 28 | €118 | €118 | = | 0.0% |
| Current assets | 29/58 | €2,856,495 | €2,891,594 | +€35,099 | +1.2% |
| Stocks and contracts in progress | 3 | €302,785 | €309,735 | +€6,950 | +2.3% |
| Stocks | 30/36 | €302,785 | €309,735 | +€6,950 | +2.3% |
| Amounts receivable within one year | 40/41 | €921,469 | €756,983 | -€164,486 | -17.9% |
| Trade receivables | 40 | €921,469 | €687,639 | -€233,830 | -25.4% |
| Other amounts receivable | 41 | €0 | €69,345 | +€69,345 | |
| Cash at bank and in hand | 54/58 | €1,632,241 | €1,824,876 | +€192,635 | +11.8% |
| Total equity and liabilities | 10/49 | €4,596,192 | €4,569,834 | -€26,357 | -0.6% |
| Equity | 10/15 | €3,254,773 | €3,622,517 | +€367,744 | +11.3% |
| Contributions | 10/11 | €992,961 | €992,961 | = | 0.0% |
| Outside capital | 11 | €992,961 | €992,961 | = | 0.0% |
| Other | 1109/19 | €992,961 | €992,961 | = | 0.0% |
| Reserves | 13 | €2,257,296 | €2,629,296 | +€372,000 | +16.5% |
| Non-distributable reserves | 130/1 | €99,296 | €99,296 | = | 0.0% |
| Reserves not available under the articles | 1311 | €99,296 | €99,296 | = | 0.0% |
| Distributable reserves | 133 | €2,158,000 | €2,530,000 | +€372,000 | +17.2% |
| Profit (loss) carried forward | 14 | €4,516 | €260 | -€4,256 | -94.3% |
| Provisions and deferred taxes | 16 | €138,905 | €138,905 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €138,905 | €138,905 | = | 0.0% |
| Environmental obligations | 163 | €138,905 | €138,905 | = | 0.0% |
| Amounts payable | 17/49 | €1,202,513 | €808,412 | -€394,101 | -32.8% |
| Amounts payable after more than one year | 17 | €296,223 | €174,563 | -€121,659 | -41.1% |
| Financial debts | 170/4 | €296,223 | €174,563 | -€121,659 | -41.1% |
| Amounts payable within one year | 42/48 | €906,291 | €633,849 | -€272,442 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €117,705 | €121,659 | +€3,955 | +3.4% |
| Trade debts | 44 | €80,878 | €64,535 | -€16,344 | -20.2% |
| Suppliers | 440/4 | €80,878 | €64,535 | -€16,344 | -20.2% |
| Taxes, remuneration and social security | 45 | €104,729 | €141,177 | +€36,449 | +34.8% |
| Taxes | 450/3 | €47,967 | €45,297 | -€2,670 | -5.6% |
| Remuneration and social security | 454/9 | €56,762 | €95,881 | +€39,119 | +68.9% |
| Other amounts payable | 47/48 | €602,979 | €306,478 | -€296,501 | -49.2% |
| Non-recurring operating income | 76A | €1,290 | €0 | -€1,290 | -100.0% |
| Remuneration, social security and pensions | 62 | €501,130 | €577,286 | +€76,156 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,937 | €89,503 | -€3,435 | -3.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €26,926 | €24,034 | -€2,892 | -10.7% |
| Gross operating margin | 9900 | €1,058,032 | €1,224,149 | +€166,116 | +15.7% |
| Operating profit (loss) | 9901 | €437,040 | €533,326 | +€96,287 | +22.0% |
| Financial income | 75/76B | €1,632 | €2,777 | +€1,145 | +70.1% |
| Recurring financial income | 75 | €1,632 | €2,777 | +€1,145 | +70.1% |
| Financial charges | 65/66B | €50,320 | €60,725 | +€10,406 | +20.7% |
| Recurring financial charges | 65 | €50,320 | €60,725 | +€10,406 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €388,352 | €475,378 | +€87,026 | +22.4% |
| Income taxes | 67/77 | €99,960 | €107,634 | +€7,674 | +7.7% |
| Profit (loss) for the period | 9904 | €288,392 | €367,744 | +€79,351 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €288,392 | €367,744 | +€79,351 | +27.5% |
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 5 October 2026 via checked.be.