TOVEC: 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.
TOVEC
Largest movements
- Cash -€3,114
down €3,114 (-14.0%), from €22,301 to €19,187
mainly Contributions, distributions and other (-€12,500) and Net result for the year (-€920)
- Reserves -€13,420
down €13,420 (-76.2%), from €17,607 to €4,187
- Other debts +€8,431
up €8,431 (+384.2%), from €2,194 to €10,625
- Tax, wage and social debts +€1,875
new in 2025: €1,875
- Depreciation -€204
no longer reported in 2025 (was €204)
- Gross operating margin -€108
down €108 (-15.4%), from -€704 to -€813
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 | €22,301 | €19,187 | -€3,114 | -14.0% |
| Current assets | 29/58 | €22,301 | €19,187 | -€3,114 | -14.0% |
| Cash at bank and in hand | 54/58 | €22,301 | €19,187 | -€3,114 | -14.0% |
| Total equity and liabilities | 10/49 | €22,301 | €19,187 | -€3,114 | -14.0% |
| Equity | 10/15 | €20,107 | €6,687 | -€13,420 | -66.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €17,607 | €4,187 | -€13,420 | -76.2% |
| Distributable reserves | 133 | €17,607 | €4,187 | -€13,420 | -76.2% |
| Amounts payable | 17/49 | €2,194 | €12,500 | +€10,306 | +469.6% |
| Amounts payable within one year | 42/48 | €2,194 | €12,500 | +€10,306 | +469.6% |
| Taxes, remuneration and social security | 45 | - | €1,875 | +€1,875 | |
| Taxes | 450/3 | - | €1,875 | +€1,875 | |
| Other amounts payable | 47/48 | €2,194 | €10,625 | +€8,431 | +384.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204 | - | -€204 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | -€704 | -€813 | -€108 | -15.4% |
| Operating profit (loss) | 9901 | -€970 | -€875 | +€96 | +9.9% |
| Financial charges | 65/66B | €44 | €45 | +€2 | +3.4% |
| Recurring financial charges | 65 | €44 | €45 | +€2 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,014 | -€920 | +€94 | +9.3% |
| Profit (loss) for the period | 9904 | -€1,014 | -€920 | +€94 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,014 | -€920 | +€94 | +9.3% |
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 8 October 2026 via checked.be.