TURNLEAF: 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.
TURNLEAF
Largest movements
- Current investments +€867,829
new in 2025: €867,829
- Cash -€817,546
down €817,546 (-86.7%), from €942,432 to €124,885
mainly Current investments (-€867,829) and Investment in fixed assets (net) (-€2,383)
- Tangible fixed assets -€10,723
down €10,723 (-66.0%), from €16,235 to €5,512
- Reserves +€24,000
up €24,000 (+22.8%), from €105,205 to €129,205
of which Distributable reserves: +€24,000
- Gross operating margin +€31,408
up €31,408, from -€1,352 to €30,056
- Taxes +€8,492
up €8,492 (+175.9%), from €4,828 to €13,321
- Financial income -€7,953
down €7,953 (-26.2%), from €30,382 to €22,430
- Depreciation -€1,083
down €1,083 (-7.6%), from €14,189 to €13,106
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 | €973,721 | €1,004,176 | +€30,455 | +3.1% |
| Fixed assets | 21/28 | €16,235 | €5,512 | -€10,723 | -66.0% |
| Tangible fixed assets | 22/27 | €16,235 | €5,512 | -€10,723 | -66.0% |
| Furniture and vehicles | 24 | €16,235 | €5,512 | -€10,723 | -66.0% |
| Current assets | 29/58 | €957,486 | €998,664 | +€41,178 | +4.3% |
| Amounts receivable within one year | 40/41 | €7,000 | €5,949 | -€1,051 | -15.0% |
| Trade receivables | 40 | - | €5,949 | +€5,949 | |
| Other amounts receivable | 41 | €7,000 | - | -€7,000 | |
| Current investments | 50/53 | - | €867,829 | +€867,829 | |
| Cash at bank and in hand | 54/58 | €942,432 | €124,885 | -€817,546 | -86.7% |
| Deferred charges and accrued income | 490/1 | €8,054 | - | -€8,054 | |
| Total equity and liabilities | 10/49 | €973,721 | €1,004,176 | +€30,455 | +3.1% |
| Equity | 10/15 | €970,711 | €995,508 | +€24,797 | +2.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €105,205 | €129,205 | +€24,000 | +22.8% |
| Non-distributable reserves | 130/1 | €5,705 | €5,705 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,705 | €5,705 | = | 0.0% |
| Distributable reserves | 133 | €99,500 | €123,500 | +€24,000 | +24.1% |
| Profit (loss) carried forward | 14 | €846,956 | €847,753 | +€797 | +0.1% |
| Amounts payable | 17/49 | €3,010 | €8,668 | +€5,658 | +188.0% |
| Amounts payable within one year | 42/48 | €3,010 | €8,668 | +€5,658 | +188.0% |
| Trade debts | 44 | €2,066 | €1,954 | -€112 | -5.4% |
| Suppliers | 440/4 | €2,066 | €1,954 | -€112 | -5.4% |
| Taxes, remuneration and social security | 45 | €944 | €6,714 | +€5,770 | +611.0% |
| Taxes | 450/3 | €944 | €6,714 | +€5,770 | +611.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,189 | €13,106 | -€1,083 | -7.6% |
| Other operating charges | 640/8 | €1,312 | €1,135 | -€178 | -13.6% |
| Gross operating margin | 9900 | -€1,352 | €30,056 | +€31,408 | |
| Operating profit (loss) | 9901 | -€16,854 | €15,815 | +€32,669 | |
| Financial income | 75/76B | €30,382 | €22,430 | -€7,953 | -26.2% |
| Recurring financial income | 75 | €30,382 | €22,430 | -€7,953 | -26.2% |
| Financial charges | 65/66B | €206 | €127 | -€79 | -38.2% |
| Recurring financial charges | 65 | €206 | €127 | -€79 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €13,323 | €38,118 | +€24,795 | +186.1% |
| Income taxes | 67/77 | €4,828 | €13,321 | +€8,492 | +175.9% |
| Profit (loss) for the period | 9904 | €8,495 | €24,797 | +€16,303 | +191.9% |
| Profit (loss) for the period to be appropriated | 9905 | €8,495 | €24,797 | +€16,303 | +191.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.