TURNER ASSOCIATES: 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.
TURNER ASSOCIATES
Largest movements
- Tangible fixed assets +€42,420
up €42,420 (+99.0%), from €42,839 to €85,259
of which Furniture and vehicles: +€42,610
- Deferred charges and accrued income -€26,519
down €26,519 (-84.9%), from €31,242 to €4,723
- Cash +€12,853
up €12,853 (+69.7%), from €18,428 to €31,281
mainly Other debts (+€44,215) and Depreciation (+€31,682)
- Receivables within one year +€7,410
up €7,410 (+12.7%), from €58,214 to €65,624
of which Other amounts receivable: +€5,591
- Other debts +€44,215
up €44,215 (+1,508%), from €2,931 to €47,146
- Reserves -€38,302
down €38,302 (-37.4%), from €102,478 to €64,177
of which Distributable reserves: -€36,443
- Debts after one year +€30,861
up €30,861 (+468%), from €6,600 to €37,460
of which Financial debts: +€30,861
- Current portion of long-term debt +€2,442
up €2,442 (+12.3%), from €19,783 to €22,224
- Trade debts -€2,265
down €2,265 (-41.8%), from €5,415 to €3,150
- Depreciation +€14,032
up €14,032 (+79.5%), from €17,650 to €31,682
- Gross operating margin +€9,940
up €9,940 (+25.9%), from €38,366 to €48,306
- Financial charges +€1,959
up €1,959 (+186%), from €1,055 to €3,014
- Taxes -€1,582
down €1,582 (-27.4%), from €5,762 to €4,180
- Other operating charges -€1,082
down €1,082 (-30.5%), from €3,551 to €2,468
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 | €150,723 | €186,887 | +€36,164 | +24.0% |
| Fixed assets | 21/28 | €42,839 | €85,259 | +€42,420 | +99.0% |
| Tangible fixed assets | 22/27 | €42,839 | €85,259 | +€42,420 | +99.0% |
| Plant, machinery and equipment | 23 | €1,441 | €1,811 | +€370 | +25.7% |
| Furniture and vehicles | 24 | €37,201 | €79,811 | +€42,610 | +115% |
| Other tangible fixed assets | 26 | €4,197 | €3,637 | -€560 | -13.3% |
| Current assets | 29/58 | €107,884 | €101,628 | -€6,256 | -5.8% |
| Amounts receivable within one year | 40/41 | €58,214 | €65,624 | +€7,410 | +12.7% |
| Trade receivables | 40 | €19,985 | €21,804 | +€1,819 | +9.1% |
| Other amounts receivable | 41 | €38,229 | €43,820 | +€5,591 | +14.6% |
| Cash at bank and in hand | 54/58 | €18,428 | €31,281 | +€12,853 | +69.7% |
| Deferred charges and accrued income | 490/1 | €31,242 | €4,723 | -€26,519 | -84.9% |
| Total equity and liabilities | 10/49 | €150,723 | €186,887 | +€36,164 | +24.0% |
| Equity | 10/15 | €108,678 | €70,377 | -€38,302 | -35.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €102,478 | €64,177 | -€38,302 | -37.4% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €100,619 | €64,177 | -€36,443 | -36.2% |
| Amounts payable | 17/49 | €42,044 | €116,510 | +€74,466 | +177% |
| Amounts payable after more than one year | 17 | €6,600 | €37,460 | +€30,861 | +468% |
| Financial debts | 170/4 | €4,600 | €35,460 | +€30,861 | +671% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €34,445 | €79,050 | +€44,605 | +129% |
| Current portion of amounts payable after more than one year | 42 | €19,783 | €22,224 | +€2,442 | +12.3% |
| Trade debts | 44 | €5,415 | €3,150 | -€2,265 | -41.8% |
| Suppliers | 440/4 | €5,415 | €3,150 | -€2,265 | -41.8% |
| Taxes, remuneration and social security | 45 | €6,316 | €6,530 | +€214 | +3.4% |
| Taxes | 450/3 | €2,816 | €3,030 | +€214 | +7.6% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €2,931 | €47,146 | +€44,215 | +1,508% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,650 | €31,682 | +€14,032 | +79.5% |
| Other operating charges | 640/8 | €3,551 | €2,468 | -€1,082 | -30.5% |
| Gross operating margin | 9900 | €38,366 | €48,306 | +€9,940 | +25.9% |
| Operating profit (loss) | 9901 | €17,166 | €14,155 | -€3,010 | -17.5% |
| Financial charges | 65/66B | €1,055 | €3,014 | +€1,959 | +186% |
| Recurring financial charges | 65 | €1,055 | €3,014 | +€1,959 | +186% |
| Profit (loss) for the period before taxes | 9903 | €16,111 | €11,142 | -€4,969 | -30.8% |
| Income taxes | 67/77 | €5,762 | €4,180 | -€1,582 | -27.4% |
| Profit (loss) for the period | 9904 | €10,349 | €6,961 | -€3,387 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,349 | €6,961 | -€3,387 | -32.7% |
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 20 October 2026 via checked.be.