Turner: 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.
Turner
Largest movements
- Receivables within one year -€88,602
down €88,602 (-14.6%), from €605,513 to €516,912
of which Trade receivables: -€176,731
- Cash -€48,071
down €48,071 (-22.6%), from €212,338 to €164,266
mainly Contributions, distributions and other (-€400,000) and Tax, wage and social debts (-€82,755)
- Profit (loss) carried forward -€348,091
down €348,091 (-79.5%), from €437,697 to €89,606
- Trade debts +€339,716
up €339,716 (+624.2%), from €54,421 to €394,136
- Tax, wage and social debts -€82,755
down €82,755 (-71.9%), from €115,093 to €32,337
of which Taxes: -€78,401
- Other debts -€51,184
no longer reported in 2025 (was €51,184)
- Gross operating margin -€153,841
down €153,841 (-28.0%), from €550,404 to €396,563
- Write-downs -€72,022
down €72,022, from €27,211 to -€44,811
- Taxes -€34,310
down €34,310 (-61.8%), from €55,556 to €21,246
- Other operating charges +€19,223
up €19,223 (+1008.9%), from €1,905 to €21,128
- Staff costs +€16,365
up €16,365 (+5.0%), from €324,344 to €340,710
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 | €825,245 | €685,615 | -€139,630 | -16.9% |
| Fixed assets | 21/28 | €7,395 | €4,437 | -€2,957 | -40.0% |
| Tangible fixed assets | 22/27 | €7,345 | €4,387 | -€2,957 | -40.3% |
| Plant, machinery and equipment | 23 | €3,776 | €2,751 | -€1,025 | -27.2% |
| Furniture and vehicles | 24 | €3,569 | €1,637 | -€1,932 | -54.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €817,851 | €681,178 | -€136,673 | -16.7% |
| Amounts receivable within one year | 40/41 | €605,513 | €516,912 | -€88,602 | -14.6% |
| Trade receivables | 40 | €603,797 | €427,066 | -€176,731 | -29.3% |
| Other amounts receivable | 41 | €1,716 | €89,846 | +€88,130 | +5135.3% |
| Cash at bank and in hand | 54/58 | €212,338 | €164,266 | -€48,071 | -22.6% |
| Total equity and liabilities | 10/49 | €825,245 | €685,615 | -€139,630 | -16.9% |
| Equity | 10/15 | €604,548 | €256,458 | -€348,091 | -57.6% |
| Contributions | 10/11 | €80,587 | €80,587 | = | 0.0% |
| Capital | 10 | €80,587 | €80,587 | = | 0.0% |
| Issued capital | 100 | €80,587 | €80,587 | = | 0.0% |
| Reserves | 13 | €86,265 | €86,265 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,059 | €8,059 | = | 0.0% |
| Legal reserve | 130 | €8,059 | €8,059 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,206 | €3,206 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €437,697 | €89,606 | -€348,091 | -79.5% |
| Amounts payable | 17/49 | €220,697 | €429,158 | +€208,461 | +94.5% |
| Amounts payable within one year | 42/48 | €220,697 | €426,474 | +€205,777 | +93.2% |
| Trade debts | 44 | €54,421 | €394,136 | +€339,716 | +624.2% |
| Suppliers | 440/4 | €54,421 | €394,136 | +€339,716 | +624.2% |
| Taxes, remuneration and social security | 45 | €115,093 | €32,337 | -€82,755 | -71.9% |
| Taxes | 450/3 | €78,876 | €475 | -€78,401 | -99.4% |
| Remuneration and social security | 454/9 | €36,216 | €31,863 | -€4,354 | -12.0% |
| Other amounts payable | 47/48 | €51,184 | - | -€51,184 | |
| Accrued charges and deferred income | 492/3 | - | €2,684 | +€2,684 | |
| Remuneration, social security and pensions | 62 | €324,344 | €340,710 | +€16,365 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,067 | €4,231 | -€836 | -16.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €27,211 | -€44,811 | -€72,022 | |
| Other operating charges | 640/8 | €1,905 | €21,128 | +€19,223 | +1008.9% |
| Gross operating margin | 9900 | €550,404 | €396,563 | -€153,841 | -28.0% |
| Operating profit (loss) | 9901 | €191,877 | €75,306 | -€116,571 | -60.8% |
| Financial income | 75/76B | €2,674 | €285 | -€2,389 | -89.3% |
| Recurring financial income | 75 | €2,674 | €285 | -€2,389 | -89.3% |
| Financial charges | 65/66B | €1,313 | €2,436 | +€1,122 | +85.5% |
| Recurring financial charges | 65 | €1,313 | €2,436 | +€1,122 | +85.5% |
| Profit (loss) for the period before taxes | 9903 | €193,237 | €73,155 | -€120,082 | -62.1% |
| Income taxes | 67/77 | €55,556 | €21,246 | -€34,310 | -61.8% |
| Profit (loss) for the period | 9904 | €137,682 | €51,909 | -€85,772 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €137,682 | €51,909 | -€85,772 | -62.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.