Tovar: 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.
Tovar
Largest movements
- Financial fixed assets -€281,250
down €281,250 (-4.8%), from €5.9m to €5.6m
- Cash +€157,537
up €157,537 (+183%), from €85,896 to €243,433
mainly Other debts (+€418,646) and Net result for the year (+€372,769)
- Receivables after one year +€83,000
new in 2025: €83,000
- Current investments -€80,000
down €80,000 (-22.9%), from €350,000 to €270,000
- Debts after one year -€884,076
down €884,076 (-35.6%), from €2.5m to €1.6m
- Other debts +€418,646
up €418,646 (+55.8%), from €750,000 to €1.2m
- Profit (loss) carried forward +€372,769
up €372,769 (+12.1%), from €3.1m to €3.5m
- Financial income -€225,178
down €225,178 (-44.5%), from €506,237 to €281,060
- Financial charges +€13,327
up €13,327 (+8.2%), from €161,809 to €175,136
- Gross operating margin -€8,343
down €8,343 (-2.7%), from €310,053 to €301,710
- Taxes -€4,572
down €4,572 (-11.9%), from €38,347 to €33,775
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 | €6,413,346 | €6,294,540 | -€118,805 | -1.9% |
| Formation expenses | 20 | €31 | €51 | +€20 | +64.8% |
| Fixed assets | 21/28 | €5,888,000 | €5,606,750 | -€281,250 | -4.8% |
| Financial fixed assets | 28 | €5,888,000 | €5,606,750 | -€281,250 | -4.8% |
| Current assets | 29/58 | €525,315 | €687,739 | +€162,424 | +30.9% |
| Amounts receivable after more than one year | 29 | - | €83,000 | +€83,000 | |
| Other amounts receivable | 291 | - | €83,000 | +€83,000 | |
| Amounts receivable within one year | 40/41 | €89,419 | €91,306 | +€1,887 | +2.1% |
| Trade receivables | 40 | €85,638 | €87,090 | +€1,452 | +1.7% |
| Other amounts receivable | 41 | €3,781 | €4,216 | +€435 | +11.5% |
| Current investments | 50/53 | €350,000 | €270,000 | -€80,000 | -22.9% |
| Cash at bank and in hand | 54/58 | €85,896 | €243,433 | +€157,537 | +183% |
| Total equity and liabilities | 10/49 | €6,413,346 | €6,294,540 | -€118,805 | -1.9% |
| Equity | 10/15 | €3,088,154 | €3,460,922 | +€372,769 | +12.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,085,154 | €3,457,922 | +€372,769 | +12.1% |
| Amounts payable | 17/49 | €3,325,192 | €2,833,618 | -€491,574 | -14.8% |
| Amounts payable after more than one year | 17 | €2,480,598 | €1,596,522 | -€884,076 | -35.6% |
| Financial debts | 170/4 | €2,480,598 | €1,596,522 | -€884,076 | -35.6% |
| Amounts payable within one year | 42/48 | €844,594 | €1,237,097 | +€392,502 | +46.5% |
| Trade debts | 44 | €57,497 | €45,474 | -€12,022 | -20.9% |
| Suppliers | 440/4 | €57,497 | €45,474 | -€12,022 | -20.9% |
| Taxes, remuneration and social security | 45 | €37,098 | €22,977 | -€14,121 | -38.1% |
| Taxes | 450/3 | €37,098 | €22,977 | -€14,121 | -38.1% |
| Other amounts payable | 47/48 | €750,000 | €1,168,646 | +€418,646 | +55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €29 | -€33 | -52.9% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €310,053 | €301,710 | -€8,343 | -2.7% |
| Operating profit (loss) | 9901 | €308,962 | €300,620 | -€8,342 | -2.7% |
| Financial income | 75/76B | €506,237 | €281,060 | -€225,178 | -44.5% |
| Recurring financial income | 75 | €506,237 | €281,060 | -€225,178 | -44.5% |
| Financial charges | 65/66B | €161,809 | €175,136 | +€13,327 | +8.2% |
| Recurring financial charges | 65 | €161,809 | €175,136 | +€13,327 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €653,390 | €406,544 | -€246,846 | -37.8% |
| Income taxes | 67/77 | €38,347 | €33,775 | -€4,572 | -11.9% |
| Profit (loss) for the period | 9904 | €615,042 | €372,769 | -€242,274 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €615,042 | €372,769 | -€242,274 | -39.4% |
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 17 October 2026 via checked.be.