Tovmasyan: what changed
Tovmasyan
Largest movements
- Cash -€55,314
down €55,314 (-95.8%), from €57,719 to €2,405
mainly Receivables within one year (-€40,289) and Stocks and contracts (-€11,025)
- Receivables within one year +€40,289
up €40,289 (+115%), from €34,997 to €75,285
of which Trade receivables: +€41,337
- Stocks and contracts +€11,025
new in 2025: €11,025
- Tax, wage and social debts -€7,243
no longer reported in 2025 (was €7,243)
- Trade debts +€4,490
up €4,490 (+10.9%), from €41,133 to €45,623
- Other debts -€1,000
no longer reported in 2025 (was €1,000)
- Gross operating margin -€43,177
down €43,177 (-89.2%), from €48,380 to €5,203
- Taxes -€6,921
down €6,921 (-94.6%), from €7,316 to €395
- Other operating charges +€2,708
up €2,708 (+491%), from €551 to €3,259
- Staff costs -€1,310
down €1,310 (-75.7%), from €1,730 to €420
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €94,244 | €90,594 | -€3,650 | -3.9% |
| Fixed assets | 21/28 | €1,529 | €1,879 | +€350 | +22.9% |
| Tangible fixed assets | 22/27 | €1,024 | €1,374 | +€350 | +34.2% |
| Plant, machinery and equipment | 23 | €1,024 | €483 | -€541 | -52.9% |
| Furniture and vehicles | 24 | - | €892 | +€892 | |
| Financial fixed assets | 28 | €505 | €505 | = | 0.0% |
| Current assets | 29/58 | €92,715 | €88,715 | -€4,000 | -4.3% |
| Stocks and contracts in progress | 3 | - | €11,025 | +€11,025 | |
| Contracts in progress | 37 | - | €11,025 | +€11,025 | |
| Amounts receivable within one year | 40/41 | €34,997 | €75,285 | +€40,289 | +115% |
| Trade receivables | 40 | €21,654 | €62,991 | +€41,337 | +191% |
| Other amounts receivable | 41 | €13,342 | €12,294 | -€1,049 | -7.9% |
| Cash at bank and in hand | 54/58 | €57,719 | €2,405 | -€55,314 | -95.8% |
| Total equity and liabilities | 10/49 | €94,244 | €90,594 | -€3,650 | -3.9% |
| Equity | 10/15 | €44,867 | €44,971 | +€104 | +0.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,867 | €42,971 | +€104 | +0.2% |
| Amounts payable | 17/49 | €49,377 | €45,623 | -€3,754 | -7.6% |
| Amounts payable within one year | 42/48 | €49,377 | €45,623 | -€3,754 | -7.6% |
| Trade debts | 44 | €41,133 | €45,623 | +€4,490 | +10.9% |
| Suppliers | 440/4 | €41,133 | €45,623 | +€4,490 | +10.9% |
| Taxes, remuneration and social security | 45 | €7,243 | - | -€7,243 | |
| Taxes | 450/3 | €7,243 | - | -€7,243 | |
| Other amounts payable | 47/48 | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €1,730 | €420 | -€1,310 | -75.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €541 | €770 | +€229 | +42.2% |
| Other operating charges | 640/8 | €551 | €3,259 | +€2,708 | +491% |
| Non-recurring operating charges | 66A | €9,000 | - | -€9,000 | |
| Gross operating margin | 9900 | €48,380 | €5,203 | -€43,177 | -89.2% |
| Operating profit (loss) | 9901 | €36,558 | €754 | -€35,804 | -97.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €267 | €256 | -€12 | -4.4% |
| Recurring financial charges | 65 | €263 | €256 | -€8 | -3.0% |
| Non-recurring financial charges | 66B | €4 | - | -€4 | |
| Profit (loss) for the period before taxes | 9903 | €36,290 | €499 | -€35,792 | -98.6% |
| Income taxes | 67/77 | €7,316 | €395 | -€6,921 | -94.6% |
| Profit (loss) for the period | 9904 | €28,974 | €104 | -€28,870 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,974 | €104 | -€28,870 | -99.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.