TOVANCO: 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.
TOVANCO
Largest movements
- Current investments +€46,000
new in 2025: €46,000
- Deferred charges and accrued income +€8,924
up €8,924 (+920.8%), from €969 to €9,893
- Receivables within one year +€7,974
up €7,974 (+23.5%), from €34,000 to €41,975
of which Other amounts receivable: +€9,056
- Tangible fixed assets -€4,915
down €4,915 (-25.7%), from €19,149 to €14,234
of which Plant, machinery and equipment: -€4,383
- Cash -€3,853
down €3,853 (-3.9%), from €99,923 to €96,070
mainly Current investments (-€46,000) and Deferred charges and accrued income (-€8,924)
- Reserves +€56,620
new in 2025: €56,620
- Tax, wage and social debts +€7,078
up €7,078 (+128.8%), from €5,496 to €12,574
- Debts after one year -€4,940
down €4,940 (-61.0%), from €8,095 to €3,155
- Accrued charges and deferred income -€2,838
down €2,838 (-100.0%), from €2,838 to €0
- Taxes +€6,281
up €6,281 (+39.7%), from €15,832 to €22,113
- Gross operating margin +€3,079
up €3,079 (+3.7%), from €82,804 to €85,882
- Depreciation +€1,434
up €1,434 (+29.2%), from €4,909 to €6,343
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 | €154,041 | €208,172 | +€54,130 | +35.1% |
| Fixed assets | 21/28 | €19,149 | €14,234 | -€4,915 | -25.7% |
| Tangible fixed assets | 22/27 | €19,149 | €14,234 | -€4,915 | -25.7% |
| Plant, machinery and equipment | 23 | €14,289 | €9,907 | -€4,383 | -30.7% |
| Furniture and vehicles | 24 | €4,860 | €4,328 | -€532 | -11.0% |
| Current assets | 29/58 | €134,892 | €193,937 | +€59,045 | +43.8% |
| Amounts receivable within one year | 40/41 | €34,000 | €41,975 | +€7,974 | +23.5% |
| Trade receivables | 40 | €29,832 | €28,750 | -€1,082 | -3.6% |
| Other amounts receivable | 41 | €4,168 | €13,225 | +€9,056 | +217.3% |
| Current investments | 50/53 | - | €46,000 | +€46,000 | |
| Cash at bank and in hand | 54/58 | €99,923 | €96,070 | -€3,853 | -3.9% |
| Deferred charges and accrued income | 490/1 | €969 | €9,893 | +€8,924 | +920.8% |
| Total equity and liabilities | 10/49 | €154,041 | €208,172 | +€54,130 | +35.1% |
| Equity | 10/15 | €134,015 | €190,638 | +€56,623 | +42.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €56,620 | +€56,620 | |
| Distributable reserves | 133 | - | €56,620 | +€56,620 | |
| Profit (loss) carried forward | 14 | €131,015 | €131,018 | +€3 | 0.0% |
| Amounts payable | 17/49 | €20,026 | €17,534 | -€2,493 | -12.4% |
| Amounts payable after more than one year | 17 | €8,095 | €3,155 | -€4,940 | -61.0% |
| Financial debts | 170/4 | €8,095 | €3,155 | -€4,940 | -61.0% |
| Amounts payable within one year | 42/48 | €9,093 | €14,378 | +€5,285 | +58.1% |
| Trade debts | 44 | €1,943 | €1,804 | -€138 | -7.1% |
| Suppliers | 440/4 | €1,943 | €1,804 | -€138 | -7.1% |
| Taxes, remuneration and social security | 45 | €5,496 | €12,574 | +€7,078 | +128.8% |
| Taxes | 450/3 | €5,496 | €12,574 | +€7,078 | +128.8% |
| Other amounts payable | 47/48 | €1,655 | €0 | -€1,655 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,838 | €0 | -€2,838 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,909 | €6,343 | +€1,434 | +29.2% |
| Other operating charges | 640/8 | €387 | €569 | +€182 | +46.9% |
| Gross operating margin | 9900 | €82,804 | €85,882 | +€3,079 | +3.7% |
| Operating profit (loss) | 9901 | €77,508 | €78,970 | +€1,463 | +1.9% |
| Financial income | 75/76B | €0 | €115 | +€115 | +286875.0% |
| Recurring financial income | 75 | €0 | €115 | +€115 | +286875.0% |
| Financial charges | 65/66B | €332 | €349 | +€18 | +5.3% |
| Recurring financial charges | 65 | €332 | €349 | +€18 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €77,176 | €78,736 | +€1,560 | +2.0% |
| Income taxes | 67/77 | €15,832 | €22,113 | +€6,281 | +39.7% |
| Profit (loss) for the period | 9904 | €61,344 | €56,623 | -€4,721 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,344 | €56,623 | -€4,721 | -7.7% |
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 2 October 2026 via checked.be.