TOVANS: 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.
TOVANS
Largest movements
- Tangible fixed assets -€61,276
down €61,276 (-91.8%), from €66,718 to €5,442
of which Furniture and vehicles: -€60,857
- Cash -€26,345
down €26,345 (-48.1%), from €54,762 to €28,417
mainly Debts after one year (-€41,765) and Net result for the year (-€37,303)
- Receivables within one year -€5,748
down €5,748 (-99.3%), from €5,789 to €41
of which Other amounts receivable: -€5,759
- Receivables after one year +€5,000
new in 2025: €5,000
- Debts after one year -€41,765
no longer reported in 2025 (was €41,765)
- Reserves -€37,199
down €37,199 (-73.1%), from €50,860 to €13,661
of which Distributable reserves: -€37,199
- Current portion of long-term debt -€16,910
no longer reported in 2025 (was €16,910)
- Tax, wage and social debts +€7,516
up €7,516 (+179%), from €4,191 to €11,707
- Gross operating margin -€47,683
down €47,683, from €41,973 to -€5,710
- Depreciation -€18,583
down €18,583 (-97.8%), from €19,001 to €419
- Taxes -€5,077
down €5,077, from €4,224 to -€853
- Other operating charges +€4,340
up €4,340 (+845%), from €514 to €4,854
- Financial charges -€1,251
down €1,251 (-30.5%), from €4,107 to €2,856
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 | €127,288 | €38,900 | -€88,388 | -69.4% |
| Fixed assets | 21/28 | €66,718 | €5,442 | -€61,276 | -91.8% |
| Tangible fixed assets | 22/27 | €66,718 | €5,442 | -€61,276 | -91.8% |
| Land and buildings | 22 | €5,860 | €5,442 | -€419 | -7.1% |
| Furniture and vehicles | 24 | €60,857 | - | -€60,857 | |
| Current assets | 29/58 | €60,570 | €33,458 | -€27,112 | -44.8% |
| Amounts receivable after more than one year | 29 | - | €5,000 | +€5,000 | |
| Other amounts receivable | 291 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €5,789 | €41 | -€5,748 | -99.3% |
| Trade receivables | 40 | - | €11 | +€11 | |
| Other amounts receivable | 41 | €5,789 | €30 | -€5,759 | -99.5% |
| Cash at bank and in hand | 54/58 | €54,762 | €28,417 | -€26,345 | -48.1% |
| Deferred charges and accrued income | 490/1 | €20 | - | -€20 | |
| Total equity and liabilities | 10/49 | €127,288 | €38,900 | -€88,388 | -69.4% |
| Equity | 10/15 | €63,364 | €26,061 | -€37,303 | -58.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €50,860 | €13,661 | -€37,199 | -73.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €49,000 | €11,801 | -€37,199 | -75.9% |
| Profit (loss) carried forward | 14 | €104 | - | -€104 | |
| Amounts payable | 17/49 | €63,924 | €12,839 | -€51,085 | -79.9% |
| Amounts payable after more than one year | 17 | €41,765 | - | -€41,765 | |
| Financial debts | 170/4 | €41,765 | - | -€41,765 | |
| Amounts payable within one year | 42/48 | €21,974 | €12,839 | -€9,135 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €16,910 | - | -€16,910 | |
| Trade debts | 44 | €873 | - | -€873 | |
| Suppliers | 440/4 | €873 | - | -€873 | |
| Taxes, remuneration and social security | 45 | €4,191 | €11,707 | +€7,516 | +179% |
| Taxes | 450/3 | €4,191 | €11,707 | +€7,516 | +179% |
| Other amounts payable | 47/48 | - | €1,132 | +€1,132 | |
| Accrued charges and deferred income | 492/3 | €185 | - | -€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,001 | €419 | -€18,583 | -97.8% |
| Other operating charges | 640/8 | €514 | €4,854 | +€4,340 | +845% |
| Non-recurring operating charges | 66A | €724 | €24,494 | +€23,770 | +3,281% |
| Gross operating margin | 9900 | €41,973 | -€5,710 | -€47,683 | |
| Operating profit (loss) | 9901 | €21,734 | -€35,477 | -€57,211 | |
| Financial income | 75/76B | €145 | €177 | +€31 | +21.6% |
| Recurring financial income | 75 | €145 | €177 | +€31 | +21.6% |
| Financial charges | 65/66B | €4,107 | €2,856 | -€1,251 | -30.5% |
| Recurring financial charges | 65 | €4,107 | €2,856 | -€1,251 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €17,772 | -€38,156 | -€55,928 | |
| Income taxes | 67/77 | €4,224 | -€853 | -€5,077 | |
| Profit (loss) for the period | 9904 | €13,548 | -€37,303 | -€50,851 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,548 | -€37,303 | -€50,851 |
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 19 October 2026 via checked.be.