TURK: 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.
TURK
Largest movements
- Cash -€190,440
down €190,440 (-81.0%), from €235,012 to €44,571
mainly Current investments (-€150,000) and Contributions, distributions and other (-€50,159)
- Current investments +€150,000
new in 2025: €150,000
- Receivables within one year +€17,610
up €17,610 (+61.6%), from €28,578 to €46,188
of which Trade receivables: +€18,104
- Tangible fixed assets -€11,226
down €11,226 (-10.1%), from €111,458 to €100,232
of which Furniture and vehicles: -€10,049
- Reserves -€40,159
down €40,159 (-39.2%), from €102,359 to €62,200
of which Distributable reserves: -€40,159
- Other debts +€20,159
up €20,159 (+67.2%), from €30,000 to €50,159
- Current portion of long-term debt -€14,724
down €14,724 (-63.9%), from €23,027 to €8,303
- Debts after one year -€8,303
down €8,303 (-59.4%), from €13,970 to €5,668
- Trade debts +€6,698
up €6,698 (+103%), from €6,527 to €13,224
- Gross operating margin -€62,668
down €62,668 (-66.3%), from €94,461 to €31,793
- Taxes -€19,617
down €19,617 (-70.1%), from €27,964 to €8,348
- Financial income -€4,750
down €4,750 (-71.5%), from €6,642 to €1,892
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 | €379,431 | €345,986 | -€33,445 | -8.8% |
| Fixed assets | 21/28 | €112,210 | €100,984 | -€11,226 | -10.0% |
| Tangible fixed assets | 22/27 | €111,458 | €100,232 | -€11,226 | -10.1% |
| Land and buildings | 22 | €72,752 | €72,360 | -€393 | -0.5% |
| Plant, machinery and equipment | 23 | €5,150 | €4,365 | -€784 | -15.2% |
| Furniture and vehicles | 24 | €33,556 | €23,507 | -€10,049 | -29.9% |
| Financial fixed assets | 28 | €752 | €752 | = | 0.0% |
| Current assets | 29/58 | €267,221 | €245,002 | -€22,219 | -8.3% |
| Amounts receivable within one year | 40/41 | €28,578 | €46,188 | +€17,610 | +61.6% |
| Trade receivables | 40 | - | €18,104 | +€18,104 | |
| Other amounts receivable | 41 | €28,578 | €28,084 | -€493 | -1.7% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €235,012 | €44,571 | -€190,440 | -81.0% |
| Deferred charges and accrued income | 490/1 | €3,632 | €4,243 | +€611 | +16.8% |
| Total equity and liabilities | 10/49 | €379,431 | €345,986 | -€33,445 | -8.8% |
| Equity | 10/15 | €291,785 | €251,823 | -€39,963 | -13.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €102,359 | €62,200 | -€40,159 | -39.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €96,159 | €56,000 | -€40,159 | -41.8% |
| Profit (loss) carried forward | 14 | €127,426 | €127,623 | +€196 | +0.2% |
| Amounts payable | 17/49 | €87,646 | €94,163 | +€6,517 | +7.4% |
| Amounts payable after more than one year | 17 | €13,970 | €5,668 | -€8,303 | -59.4% |
| Financial debts | 170/4 | €13,970 | €5,668 | -€8,303 | -59.4% |
| Amounts payable within one year | 42/48 | €73,676 | €88,496 | +€14,820 | +20.1% |
| Current portion of amounts payable after more than one year | 42 | €23,027 | €8,303 | -€14,724 | -63.9% |
| Trade debts | 44 | €6,527 | €13,224 | +€6,698 | +103% |
| Suppliers | 440/4 | €6,527 | €13,224 | +€6,698 | +103% |
| Taxes, remuneration and social security | 45 | €14,122 | €16,810 | +€2,688 | +19.0% |
| Taxes | 450/3 | €14,122 | €16,810 | +€2,688 | +19.0% |
| Other amounts payable | 47/48 | €30,000 | €50,159 | +€20,159 | +67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,676 | €12,334 | -€341 | -2.7% |
| Other operating charges | 640/8 | €1,936 | €1,684 | -€252 | -13.0% |
| Non-recurring operating charges | 66A | €13,864 | - | -€13,864 | |
| Gross operating margin | 9900 | €94,461 | €31,793 | -€62,668 | -66.3% |
| Operating profit (loss) | 9901 | €65,986 | €17,774 | -€48,212 | -73.1% |
| Financial income | 75/76B | €6,642 | €1,892 | -€4,750 | -71.5% |
| Recurring financial income | 75 | €6,642 | €1,892 | -€4,750 | -71.5% |
| Financial charges | 65/66B | €1,535 | €1,123 | -€413 | -26.9% |
| Recurring financial charges | 65 | €1,535 | €1,123 | -€413 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €71,092 | €18,544 | -€52,549 | -73.9% |
| Income taxes | 67/77 | €27,964 | €8,348 | -€19,617 | -70.1% |
| Profit (loss) for the period | 9904 | €43,128 | €10,196 | -€32,932 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,128 | €10,196 | -€32,932 | -76.4% |
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 13 October 2026 via checked.be.