TURQUOISE ELEC: 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.
TURQUOISE ELEC
Largest movements
- Receivables within one year -€68,927
down €68,927 (-33.7%), from €204,667 to €135,740
of which Trade receivables: -€41,736
- Deferred charges and accrued income -€4,692
no longer reported in 2025 (was €4,692)
- Reserves -€44,667
down €44,667 (-70.6%), from €63,282 to €18,615
- Trade debts -€24,150
down €24,150 (-39.2%), from €61,630 to €37,480
- Tax, wage and social debts -€15,678
down €15,678 (-69.4%), from €22,600 to €6,922
of which Taxes: -€11,459
- Short-term financial debts +€7,894
up €7,894 (+8.2%), from €95,778 to €103,671
- Other debts +€4,011
new in 2025: €4,011
- Gross operating margin -€86,295
down €86,295 (-64.8%), from €133,126 to €46,830
- Staff costs -€28,897
down €28,897 (-26.8%), from €107,691 to €78,793
- Taxes -€4,443
down €4,443 (-97.0%), from €4,580 to €138
- Financial charges +€2,911
up €2,911 (+35.3%), from €8,252 to €11,164
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €254,018 | €178,959 | -€75,059 | -29.5% |
| Fixed assets | 21/28 | €2,859 | €1,418 | -€1,440 | -50.4% |
| Tangible fixed assets | 22/27 | €2,584 | €1,143 | -€1,440 | -55.7% |
| Plant, machinery and equipment | 23 | €1,531 | €487 | -€1,044 | -68.2% |
| Furniture and vehicles | 24 | €265 | - | -€265 | |
| Other tangible fixed assets | 26 | €787 | €656 | -€131 | -16.7% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €251,159 | €177,540 | -€73,619 | -29.3% |
| Stocks and contracts in progress | 3 | €41,800 | €41,800 | = | 0.0% |
| Stocks | 30/36 | €41,800 | €41,800 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €204,667 | €135,740 | -€68,927 | -33.7% |
| Trade receivables | 40 | €174,114 | €132,378 | -€41,736 | -24.0% |
| Other amounts receivable | 41 | €30,553 | €3,362 | -€27,191 | -89.0% |
| Deferred charges and accrued income | 490/1 | €4,692 | - | -€4,692 | |
| Total equity and liabilities | 10/49 | €254,018 | €178,959 | -€75,059 | -29.5% |
| Equity | 10/15 | €71,542 | €26,875 | -€44,667 | -62.4% |
| Contributions | 10/11 | €8,260 | €8,260 | = | 0.0% |
| Contributions outside capital | 11 | €8,260 | €8,260 | = | 0.0% |
| Other | 1109/19 | €8,260 | €8,260 | = | 0.0% |
| Reserves | 13 | €63,282 | €18,615 | -€44,667 | -70.6% |
| Distributable reserves | 133 | €63,282 | €18,615 | -€44,667 | -70.6% |
| Amounts payable | 17/49 | €182,476 | €152,084 | -€30,392 | -16.7% |
| Amounts payable within one year | 42/48 | €182,476 | €152,084 | -€30,392 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €2,469 | - | -€2,469 | |
| Financial debts | 43 | €95,778 | €103,671 | +€7,894 | +8.2% |
| Credit institutions | 430/8 | €95,778 | €103,671 | +€7,894 | +8.2% |
| Trade debts | 44 | €61,630 | €37,480 | -€24,150 | -39.2% |
| Suppliers | 440/4 | €61,630 | €37,480 | -€24,150 | -39.2% |
| Taxes, remuneration and social security | 45 | €22,600 | €6,922 | -€15,678 | -69.4% |
| Taxes | 450/3 | €18,380 | €6,922 | -€11,459 | -62.3% |
| Remuneration and social security | 454/9 | €4,219 | - | -€4,219 | |
| Other amounts payable | 47/48 | - | €4,011 | +€4,011 | |
| Remuneration, social security and pensions | 62 | €107,691 | €78,793 | -€28,897 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,658 | €1,440 | -€1,218 | -45.8% |
| Gross operating margin | 9900 | €133,126 | €46,830 | -€86,295 | -64.8% |
| Operating profit (loss) | 9901 | €22,777 | -€33,404 | -€56,181 | |
| Financial income | 75/76B | €187 | €38 | -€149 | -79.7% |
| Recurring financial income | 75 | €187 | €38 | -€149 | -79.7% |
| Financial charges | 65/66B | €8,252 | €11,164 | +€2,911 | +35.3% |
| Recurring financial charges | 65 | €8,252 | €11,164 | +€2,911 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €14,712 | -€44,529 | -€59,241 | |
| Income taxes | 67/77 | €4,580 | €138 | -€4,443 | -97.0% |
| Profit (loss) for the period | 9904 | €10,132 | -€44,667 | -€54,799 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,132 | -€44,667 | -€54,799 |
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 23 October 2026 via checked.be.