TURF BELGIUM: what changed
TURF BELGIUM
Largest movements
- Cash +€175,191
up €175,191 (+19.6%), from €895,574 to €1.1m
mainly Net result for the year (+€153,038) and Receivables within one year (+€83,607)
- Receivables within one year -€83,607
down €83,607 (-76.5%), from €109,317 to €25,709
of which Trade receivables: -€99,884
- Profit (loss) carried forward +€153,038
up €153,038 (+47.1%), from €324,700 to €477,737
- Other debts -€36,756
down €36,756 (-6.2%), from €596,298 to €559,542
- Trade debts -€24,748
down €24,748 (-36.6%), from €67,632 to €42,884
- Gross operating margin -€125,590
down €125,590 (-27.1%), from €462,620 to €337,030
- Taxes -€13,064
down €13,064 (-14.4%), from €90,945 to €77,881
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 | €1,136,740 | €1,228,324 | +€91,584 | +8.1% |
| Fixed assets | 21/28 | €131,850 | €131,850 | = | 0.0% |
| Financial fixed assets | 28 | €131,850 | €131,850 | = | 0.0% |
| Current assets | 29/58 | €1,004,890 | €1,096,474 | +€91,584 | +9.1% |
| Amounts receivable within one year | 40/41 | €109,317 | €25,709 | -€83,607 | -76.5% |
| Trade receivables | 40 | €99,884 | €0 | -€99,884 | -100% |
| Other amounts receivable | 41 | €9,432 | €25,709 | +€16,277 | +173% |
| Cash at bank and in hand | 54/58 | €895,574 | €1,070,764 | +€175,191 | +19.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,136,740 | €1,228,324 | +€91,584 | +8.1% |
| Equity | 10/15 | €455,713 | €608,751 | +€153,038 | +33.6% |
| Contributions | 10/11 | €65,987 | €65,987 | = | 0.0% |
| Capital | 10 | €65,987 | €65,987 | = | 0.0% |
| Issued capital | 100 | €65,987 | €65,987 | = | 0.0% |
| Reserves | 13 | €65,027 | €65,027 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,326 | €10,326 | = | 0.0% |
| Legal reserve | 130 | €6,599 | €6,599 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,728 | €3,728 | = | 0.0% |
| Distributable reserves | 133 | €54,701 | €54,701 | = | 0.0% |
| Profit (loss) carried forward | 14 | €324,700 | €477,737 | +€153,038 | +47.1% |
| Amounts payable | 17/49 | €681,027 | €619,573 | -€61,454 | -9.0% |
| Amounts payable within one year | 42/48 | €681,027 | €619,573 | -€61,454 | -9.0% |
| Trade debts | 44 | €67,632 | €42,884 | -€24,748 | -36.6% |
| Suppliers | 440/4 | €67,632 | €42,884 | -€24,748 | -36.6% |
| Taxes, remuneration and social security | 45 | €17,097 | €17,147 | +€50 | +0.3% |
| Taxes | 450/3 | €17,097 | €17,147 | +€50 | +0.3% |
| Other amounts payable | 47/48 | €596,298 | €559,542 | -€36,756 | -6.2% |
| Other operating charges | 640/8 | €100,807 | €105,382 | +€4,575 | +4.5% |
| Non-recurring operating charges | 66A | €85 | €0 | -€85 | -100% |
| Gross operating margin | 9900 | €462,620 | €337,030 | -€125,590 | -27.1% |
| Operating profit (loss) | 9901 | €361,728 | €231,647 | -€130,080 | -36.0% |
| Financial income | 75/76B | €719 | €1,581 | +€861 | +120% |
| Recurring financial income | 75 | €719 | €1,581 | +€861 | +120% |
| Financial charges | 65/66B | €1,074 | €2,309 | +€1,236 | +115% |
| Recurring financial charges | 65 | €1,074 | €2,309 | +€1,236 | +115% |
| Profit (loss) for the period before taxes | 9903 | €361,373 | €230,919 | -€130,455 | -36.1% |
| Income taxes | 67/77 | €90,945 | €77,881 | -€13,064 | -14.4% |
| Profit (loss) for the period | 9904 | €270,429 | €153,038 | -€117,391 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €270,429 | €153,038 | -€117,391 | -43.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.