TOURTEX: 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.
What changed
TOURTEX
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€28,942
2024 · €34,814-€63,755
Equity
€4.5m
2024 · €4.5m-€28,942
Cash
€209,607
2024 · €204,960+€4,646
Balance sheet total
€11.7m
2024 · €14.2m-€2.5m
Largest movements
Assets
- Current investments -€2.5m
down €2.5m (-50.0%), from €5.0m to €2.5m
- Tangible fixed assets -€471,600
down €471,600 (-7.0%), from €6.7m to €6.2m
of which Land and buildings: -€277,980
- Receivables within one year +€417,186
up €417,186 (+17.9%), from €2.3m to €2.8m
of which Other amounts receivable: +€418,273
Equity and liabilities
- Other debts -€2.1m
down €2.1m (-36.7%), from €5.8m to €3.7m
- Debts after one year -€395,949
down €395,949 (-11.3%), from €3.5m to €3.1m
Income statement
- Gross operating margin -€80,105
down €80,105 (-8.7%), from €921,548 to €841,443
- Financial income -€18,804
down €18,804 (-17.4%), from €108,035 to €89,231
- Taxes -€17,040
down €17,040 (-100.0%), from €17,040 to €0
- Financial charges -€12,662
down €12,662 (-7.6%), from €166,340 to €153,678
- Staff costs -€10,222
down €10,222 (-4.0%), from €255,285 to €245,063
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.
Result 2024
€34,814
Gross operating margin
-€80,105
Staff costs
+€10,222
Depreciation
-€522
Other operating charges
-€4,249
Financial income
-€18,804
Financial charges
+€12,662
Taxes
+€17,040
Result 2025
-€28,942
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.
From operations
-€2.1m
Investment
+€2.5m
Financing
-€393,400
Cash 2024
€204,960
From operations (derived)
-€2.1m
Net result for the year
-€28,942
Depreciation
+€483,769
Receivables within one year
-€417,186
Deferred charges and accrued income
-€17,444
Trade debts
+€32,875
Smaller working-capital items
-€5,416
Other debts
-€2.1m
Investment (derived)
+€2.5m
Investment in fixed assets (net)
-€12,169
Current investments
+€2.5m
Financing
-€393,400
Debts after one year
-€395,949
Current portion of long-term debt
+€2,549
Cash 2025
€209,607
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,242,771 | €11,710,447 | -€2.5m | -17.8% |
| Fixed assets | 21/28 | €6,704,121 | €6,232,521 | -€471,600 | -7.0% |
| Tangible fixed assets | 22/27 | €6,696,281 | €6,224,681 | -€471,600 | -7.0% |
| Land and buildings | 22 | €4,791,452 | €4,513,472 | -€277,980 | -5.8% |
| Plant, machinery and equipment | 23 | €19,887 | €17,516 | -€2,371 | -11.9% |
| Furniture and vehicles | 24 | €84,026 | €70,243 | -€13,783 | -16.4% |
| Leasing and similar rights | 25 | €1,800,916 | €1,623,450 | -€177,466 | -9.9% |
| Financial fixed assets | 28 | €7,840 | €7,840 | = | 0.0% |
| Current assets | 29/58 | €7,538,651 | €5,477,926 | -€2.1m | -27.3% |
| Amounts receivable within one year | 40/41 | €2,333,331 | €2,750,516 | +€417,186 | +17.9% |
| Trade receivables | 40 | €606,154 | €605,067 | -€1,087 | -0.2% |
| Other amounts receivable | 41 | €1,727,177 | €2,145,450 | +€418,273 | +24.2% |
| Current investments | 50/53 | €5,000,000 | €2,500,000 | -€2.5m | -50.0% |
| Cash at bank and in hand | 54/58 | €204,960 | €209,607 | +€4,646 | +2.3% |
| Deferred charges and accrued income | 490/1 | €359 | €17,803 | +€17,444 | +4853.2% |
| Total equity and liabilities | 10/49 | €14,242,771 | €11,710,447 | -€2.5m | -17.8% |
| Equity | 10/15 | €4,481,183 | €4,452,242 | -€28,942 | -0.6% |
| Contributions | 10/11 | €2,900,000 | €2,900,000 | = | 0.0% |
| Capital | 10 | €2,900,000 | €2,900,000 | = | 0.0% |
| Issued capital | 100 | €2,900,000 | €2,900,000 | = | 0.0% |
| Reserves | 13 | €295,076 | €295,076 | = | 0.0% |
| Non-distributable reserves | 130/1 | €290,000 | €290,000 | = | 0.0% |
| Legal reserve | 130 | €290,000 | €290,000 | = | 0.0% |
| Distributable reserves | 133 | €5,076 | €5,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,286,108 | €1,257,166 | -€28,942 | -2.3% |
| Amounts payable | 17/49 | €9,761,588 | €7,258,205 | -€2.5m | -25.6% |
| Amounts payable after more than one year | 17 | €3,492,366 | €3,096,417 | -€395,949 | -11.3% |
| Financial debts | 170/4 | €3,492,366 | €3,096,417 | -€395,949 | -11.3% |
| Amounts payable within one year | 42/48 | €6,266,094 | €4,160,514 | -€2.1m | -33.6% |
| Current portion of amounts payable after more than one year | 42 | €394,015 | €396,564 | +€2,549 | +0.6% |
| Trade debts | 44 | €18,072 | €50,947 | +€32,875 | +181.9% |
| Suppliers | 440/4 | €18,072 | €50,947 | +€32,875 | +181.9% |
| Taxes, remuneration and social security | 45 | €36,133 | €32,571 | -€3,562 | -9.9% |
| Taxes | 450/3 | €10,233 | €5,210 | -€5,024 | -49.1% |
| Remuneration and social security | 454/9 | €25,900 | €27,361 | +€1,461 | +5.6% |
| Other amounts payable | 47/48 | €5,817,873 | €3,680,431 | -€2.1m | -36.7% |
| Accrued charges and deferred income | 492/3 | €3,129 | €1,275 | -€1,854 | -59.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €255,285 | €245,063 | -€10,222 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €483,248 | €483,769 | +€522 | +0.1% |
| Other operating charges | 640/8 | €72,856 | €77,106 | +€4,249 | +5.8% |
| Gross operating margin | 9900 | €921,548 | €841,443 | -€80,105 | -8.7% |
| Operating profit (loss) | 9901 | €110,159 | €35,506 | -€74,653 | -67.8% |
| Financial income | 75/76B | €108,035 | €89,231 | -€18,804 | -17.4% |
| Recurring financial income | 75 | €108,035 | €89,231 | -€18,804 | -17.4% |
| Financial charges | 65/66B | €166,340 | €153,678 | -€12,662 | -7.6% |
| Recurring financial charges | 65 | €166,340 | €153,678 | -€12,662 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €51,854 | -€28,942 | -€80,796 | |
| Income taxes | 67/77 | €17,040 | €0 | -€17,040 | -100.0% |
| Profit (loss) for the period | 9904 | €34,814 | -€28,942 | -€63,755 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,814 | -€28,942 | -€63,755 |
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 6 October 2026 via checked.be.