TOURNOV: 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.
TOURNOV
Largest movements
- Tangible fixed assets +€481,818
up €481,818 (+53.2%), from €905,710 to €1.4m
of which Land and buildings: +€439,541
- Receivables within one year -€56,920
down €56,920 (-15.6%), from €365,132 to €308,212
of which Other amounts receivable: -€56,920
- Cash +€25,102
up €25,102 (+102%), from €24,545 to €49,647
mainly Debts after one year (+€379,375) and Net result for the year (+€64,217)
- Debts after one year +€379,375
up €379,375 (+60.8%), from €624,059 to €1.0m
- Reserves +€64,217
up €64,217 (+5.7%), from €1.1m to €1.2m
- Current portion of long-term debt +€35,914
up €35,914 (+48.5%), from €74,105 to €110,020
- Gross operating margin -€220,699
down €220,699 (-76.2%), from €289,467 to €68,768
- Financial income +€100,108
up €100,108 (+3,891%), from €2,573 to €102,681
- Taxes -€63,582
down €63,582 (-90.4%), from €70,320 to €6,738
- Depreciation +€16,264
up €16,264 (+50.5%), from €32,198 to €48,462
- Financial charges +€10,560
up €10,560 (+31.7%), from €33,342 to €43,902
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,047,886 | €2,498,131 | +€450,245 | +22.0% |
| Fixed assets | 21/28 | €1,658,210 | €2,140,028 | +€481,818 | +29.1% |
| Tangible fixed assets | 22/27 | €905,710 | €1,387,528 | +€481,818 | +53.2% |
| Land and buildings | 22 | €902,215 | €1,341,756 | +€439,541 | +48.7% |
| Plant, machinery and equipment | 23 | €3,370 | €5,218 | +€1,848 | +54.8% |
| Furniture and vehicles | 24 | €126 | €0 | -€126 | -100% |
| Leasing and similar rights | 25 | - | €40,554 | +€40,554 | |
| Financial fixed assets | 28 | €752,500 | €752,500 | = | 0.0% |
| Current assets | 29/58 | €389,676 | €358,104 | -€31,573 | -8.1% |
| Amounts receivable within one year | 40/41 | €365,132 | €308,212 | -€56,920 | -15.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €365,132 | €308,212 | -€56,920 | -15.6% |
| Cash at bank and in hand | 54/58 | €24,545 | €49,647 | +€25,102 | +102% |
| Deferred charges and accrued income | 490/1 | - | €245 | +€245 | |
| Total equity and liabilities | 10/49 | €2,047,886 | €2,498,131 | +€450,245 | +22.0% |
| Equity | 10/15 | €1,281,060 | €1,345,278 | +€64,217 | +5.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,131,060 | €1,195,278 | +€64,217 | +5.7% |
| Distributable reserves | 133 | €1,131,060 | €1,195,278 | +€64,217 | +5.7% |
| Amounts payable | 17/49 | €766,826 | €1,152,854 | +€386,028 | +50.3% |
| Amounts payable after more than one year | 17 | €624,059 | €1,003,434 | +€379,375 | +60.8% |
| Financial debts | 170/4 | €624,059 | €1,003,434 | +€379,375 | +60.8% |
| Amounts payable within one year | 42/48 | €137,357 | €144,010 | +€6,653 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €74,105 | €110,020 | +€35,914 | +48.5% |
| Financial debts | 43 | €25,021 | €8,421 | -€16,600 | -66.3% |
| Credit institutions | 430/8 | €25,021 | €8,421 | -€16,600 | -66.3% |
| Trade debts | 44 | €1,284 | €3,033 | +€1,749 | +136% |
| Suppliers | 440/4 | €1,284 | €3,033 | +€1,749 | +136% |
| Taxes, remuneration and social security | 45 | €3,553 | €5,147 | +€1,594 | +44.9% |
| Taxes | 450/3 | €3,553 | €5,147 | +€1,594 | +44.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €33,393 | €17,389 | -€16,004 | -47.9% |
| Accrued charges and deferred income | 492/3 | €5,410 | €5,410 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,198 | €48,462 | +€16,264 | +50.5% |
| Other operating charges | 640/8 | €5,784 | €8,130 | +€2,345 | +40.5% |
| Gross operating margin | 9900 | €289,467 | €68,768 | -€220,699 | -76.2% |
| Operating profit (loss) | 9901 | €251,484 | €12,177 | -€239,308 | -95.2% |
| Financial income | 75/76B | €2,573 | €102,681 | +€100,108 | +3,891% |
| Recurring financial income | 75 | €2,573 | €102,681 | +€100,108 | +3,891% |
| Financial charges | 65/66B | €33,342 | €43,902 | +€10,560 | +31.7% |
| Recurring financial charges | 65 | €33,342 | €43,902 | +€10,560 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €220,715 | €70,955 | -€149,760 | -67.9% |
| Income taxes | 67/77 | €70,320 | €6,738 | -€63,582 | -90.4% |
| Profit (loss) for the period | 9904 | €150,395 | €64,217 | -€86,178 | -57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €150,395 | €64,217 | -€86,178 | -57.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.