Turfu: 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.
Turfu
Largest movements
- Cash -€33,428
down €33,428 (-74.8%), from €44,702 to €11,274
mainly Debts after one year (-€40,407) and Contributions, distributions and other (-€23,529)
- Tangible fixed assets +€12,714
up €12,714 (+1,449%), from €877 to €13,591
- Debts after one year -€40,407
down €40,407 (-16.0%), from €252,684 to €212,277
- Profit (loss) carried forward +€13,958
up €13,958 (+13.5%), from €103,490 to €117,448
- Gross operating margin -€32,244
down €32,244 (-35.2%), from €91,587 to €59,344
- Taxes -€11,809
down €11,809 (-54.8%), from €21,562 to €9,752
- Financial charges +€2,366
up €2,366 (+29.2%), from €8,090 to €10,456
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 | €464,425 | €444,643 | -€19,781 | -4.3% |
| Fixed assets | 21/28 | €380,877 | €393,591 | +€12,714 | +3.3% |
| Tangible fixed assets | 22/27 | €877 | €13,591 | +€12,714 | +1,449% |
| Furniture and vehicles | 24 | €877 | €13,591 | +€12,714 | +1,449% |
| Financial fixed assets | 28 | €380,000 | €380,000 | = | 0.0% |
| Current assets | 29/58 | €83,547 | €51,052 | -€32,495 | -38.9% |
| Amounts receivable within one year | 40/41 | €37,821 | €37,619 | -€202 | -0.5% |
| Trade receivables | 40 | €36,300 | €36,300 | = | 0.0% |
| Other amounts receivable | 41 | €1,521 | €1,319 | -€202 | -13.3% |
| Cash at bank and in hand | 54/58 | €44,702 | €11,274 | -€33,428 | -74.8% |
| Deferred charges and accrued income | 490/1 | €1,024 | €2,159 | +€1,135 | +111% |
| Total equity and liabilities | 10/49 | €464,425 | €444,643 | -€19,781 | -4.3% |
| Equity | 10/15 | €123,490 | €137,448 | +€13,958 | +11.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,490 | €117,448 | +€13,958 | +13.5% |
| Amounts payable | 17/49 | €340,934 | €307,195 | -€33,739 | -9.9% |
| Amounts payable after more than one year | 17 | €252,684 | €212,277 | -€40,407 | -16.0% |
| Financial debts | 170/4 | €252,684 | €212,277 | -€40,407 | -16.0% |
| Amounts payable within one year | 42/48 | €88,251 | €94,919 | +€6,668 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €44,167 | €47,425 | +€3,258 | +7.4% |
| Trade debts | 44 | €405 | €741 | +€335 | +82.8% |
| Suppliers | 440/4 | €405 | €741 | +€335 | +82.8% |
| Taxes, remuneration and social security | 45 | €25,884 | €25,959 | +€75 | +0.3% |
| Taxes | 450/3 | €22,884 | €20,959 | -€1,925 | -8.4% |
| Remuneration and social security | 454/9 | €3,000 | €5,000 | +€2,000 | +66.7% |
| Other amounts payable | 47/48 | €17,795 | €20,795 | +€3,000 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €868 | €1,085 | +€217 | +25.0% |
| Other operating charges | 640/8 | €387 | €563 | +€176 | +45.3% |
| Gross operating margin | 9900 | €91,587 | €59,344 | -€32,244 | -35.2% |
| Operating profit (loss) | 9901 | €90,332 | €57,696 | -€32,636 | -36.1% |
| Financial charges | 65/66B | €8,090 | €10,456 | +€2,366 | +29.2% |
| Recurring financial charges | 65 | €8,090 | €10,456 | +€2,366 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €82,242 | €47,239 | -€35,002 | -42.6% |
| Income taxes | 67/77 | €21,562 | €9,752 | -€11,809 | -54.8% |
| Profit (loss) for the period | 9904 | €60,680 | €37,487 | -€23,193 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,680 | €37,487 | -€23,193 | -38.2% |
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 14 October 2026 via checked.be.