Tovar Arnaud: 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 Arnaud
Largest movements
- Cash -€42,414
down €42,414 (-61.3%), from €69,181 to €26,766
- Receivables within one year -€15,870
down €15,870 (-72.5%), from €21,885 to €6,016
of which Trade receivables: -€16,054
- Tangible fixed assets -€1,338
down €1,338 (-76.8%), from €1,741 to €404
- Deferred charges and accrued income +€1,334
up €1,334 (+118%), from €1,130 to €2,464
- Reserves -€33,388
down €33,388 (-70.3%), from €47,468 to €14,080
- Trade debts -€12,371
down €12,371 (-95.3%), from €12,977 to €606
- Other debts -€10,622
down €10,622 (-100%), from €10,622 to €0
- Tax, wage and social debts -€1,906
down €1,906 (-9.4%), from €20,370 to €18,464
- Taxes -€4,476
down €4,476 (-87.9%), from €5,090 to €614
- Gross operating margin +€3,947
up €3,947, from -€3,613 to €334
- Depreciation -€951
down €951 (-57.7%), from €1,648 to €697
- Financial income +€138
up €138 (+57.0%), from €243 to €381
- Financial charges +€59
up €59 (+42.3%), from €140 to €199
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,938 | €35,650 | -€58,288 | -62.0% |
| Fixed assets | 21/28 | €1,741 | €404 | -€1,338 | -76.8% |
| Tangible fixed assets | 22/27 | €1,741 | €404 | -€1,338 | -76.8% |
| Furniture and vehicles | 24 | €1,741 | €404 | -€1,338 | -76.8% |
| Current assets | 29/58 | €92,196 | €35,246 | -€56,950 | -61.8% |
| Amounts receivable within one year | 40/41 | €21,885 | €6,016 | -€15,870 | -72.5% |
| Trade receivables | 40 | €21,885 | €5,832 | -€16,054 | -73.4% |
| Other amounts receivable | 41 | €0 | €184 | +€184 | |
| Cash at bank and in hand | 54/58 | €69,181 | €26,766 | -€42,414 | -61.3% |
| Deferred charges and accrued income | 490/1 | €1,130 | €2,464 | +€1,334 | +118% |
| Total equity and liabilities | 10/49 | €93,938 | €35,650 | -€58,288 | -62.0% |
| Equity | 10/15 | €49,968 | €16,580 | -€33,388 | -66.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,468 | €14,080 | -€33,388 | -70.3% |
| Distributable reserves | 133 | €47,468 | €14,080 | -€33,388 | -70.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,970 | €19,070 | -€24,900 | -56.6% |
| Amounts payable within one year | 42/48 | €43,970 | €19,070 | -€24,900 | -56.6% |
| Trade debts | 44 | €12,977 | €606 | -€12,371 | -95.3% |
| Suppliers | 440/4 | €12,977 | €606 | -€12,371 | -95.3% |
| Taxes, remuneration and social security | 45 | €20,370 | €18,464 | -€1,906 | -9.4% |
| Taxes | 450/3 | €20,370 | €18,464 | -€1,906 | -9.4% |
| Other amounts payable | 47/48 | €10,622 | €0 | -€10,622 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,648 | €697 | -€951 | -57.7% |
| Other operating charges | 640/8 | €747 | €793 | +€46 | +6.2% |
| Gross operating margin | 9900 | -€3,613 | €334 | +€3,947 | |
| Operating profit (loss) | 9901 | -€6,008 | -€1,156 | +€4,852 | +80.8% |
| Financial income | 75/76B | €243 | €381 | +€138 | +57.0% |
| Recurring financial income | 75 | €243 | €381 | +€138 | +57.0% |
| Financial charges | 65/66B | €140 | €199 | +€59 | +42.3% |
| Recurring financial charges | 65 | €140 | €199 | +€59 | +42.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,905 | -€974 | +€4,931 | +83.5% |
| Income taxes | 67/77 | €5,090 | €614 | -€4,476 | -87.9% |
| Profit (loss) for the period | 9904 | -€10,995 | -€1,588 | +€9,408 | +85.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,995 | -€1,588 | +€9,408 | +85.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.