TURTLE INDUSTRIES: 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.
TURTLE INDUSTRIES
Largest movements
- Receivables within one year +€28,070
up €28,070 (+58.4%), from €48,045 to €76,114
of which Trade receivables: +€28,262
- Tangible fixed assets -€16,086
down €16,086 (-10.5%), from €152,633 to €136,547
of which Furniture and vehicles: -€13,863
- Reserves +€67,457
up €67,457 (+23.5%), from €287,161 to €354,618
- Other debts -€52,709
down €52,709 (-55.2%), from €95,527 to €42,818
- Trade debts +€12,227
up €12,227 (+128.2%), from €9,536 to €21,763
- Debts after one year -€11,327
down €11,327 (-36.3%), from €31,195 to €19,868
- Gross operating margin +€26,780
up €26,780 (+29.5%), from €90,739 to €117,519
- Taxes +€9,789
up €9,789 (+40.3%), from €24,296 to €34,084
- Financial income +€4,393
up €4,393 (+39.1%), from €11,228 to €15,621
- Financial charges +€1,609
up €1,609 (+56.6%), from €2,841 to €4,450
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €766,870 | €787,108 | +€20,239 | +2.6% |
| Fixed assets | 21/28 | €152,633 | €136,547 | -€16,086 | -10.5% |
| Tangible fixed assets | 22/27 | €152,633 | €136,547 | -€16,086 | -10.5% |
| Land and buildings | 22 | €101,769 | €99,547 | -€2,223 | -2.2% |
| Furniture and vehicles | 24 | €50,864 | €37,000 | -€13,863 | -27.3% |
| Current assets | 29/58 | €614,237 | €650,562 | +€36,325 | +5.9% |
| Amounts receivable after more than one year | 29 | €124 | €124 | = | 0.0% |
| Trade receivables | 290 | €124 | €124 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,045 | €76,114 | +€28,070 | +58.4% |
| Trade receivables | 40 | €47,670 | €75,931 | +€28,262 | +59.3% |
| Other amounts receivable | 41 | €375 | €183 | -€192 | -51.2% |
| Current investments | 50/53 | €517,854 | €524,204 | +€6,351 | +1.2% |
| Cash at bank and in hand | 54/58 | €42,320 | €43,811 | +€1,491 | +3.5% |
| Deferred charges and accrued income | 490/1 | €5,894 | €6,308 | +€413 | +7.0% |
| Total equity and liabilities | 10/49 | €766,870 | €787,108 | +€20,239 | +2.6% |
| Equity | 10/15 | €582,550 | €650,007 | +€67,457 | +11.6% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €287,161 | €354,618 | +€67,457 | +23.5% |
| Distributable reserves | 133 | €287,161 | €354,618 | +€67,457 | +23.5% |
| Profit (loss) carried forward | 14 | €289,184 | €289,184 | = | 0.0% |
| Amounts payable | 17/49 | €184,319 | €137,101 | -€47,218 | -25.6% |
| Amounts payable after more than one year | 17 | €31,195 | €19,868 | -€11,327 | -36.3% |
| Financial debts | 170/4 | €31,195 | €19,868 | -€11,327 | -36.3% |
| Amounts payable within one year | 42/48 | €153,124 | €117,233 | -€35,891 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €10,902 | €11,327 | +€425 | +3.9% |
| Financial debts | 43 | - | €751 | +€751 | |
| Credit institutions | 430/8 | - | €751 | +€751 | |
| Trade debts | 44 | €9,536 | €21,763 | +€12,227 | +128.2% |
| Suppliers | 440/4 | €9,536 | €21,763 | +€12,227 | +128.2% |
| Taxes, remuneration and social security | 45 | €37,160 | €40,574 | +€3,415 | +9.2% |
| Taxes | 450/3 | €37,160 | €40,574 | +€3,415 | +9.2% |
| Other amounts payable | 47/48 | €95,527 | €42,818 | -€52,709 | -55.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,058 | €24,986 | -€72 | -0.3% |
| Other operating charges | 640/8 | €2,245 | €2,163 | -€81 | -3.6% |
| Gross operating margin | 9900 | €90,739 | €117,519 | +€26,780 | +29.5% |
| Operating profit (loss) | 9901 | €63,436 | €90,370 | +€26,934 | +42.5% |
| Financial income | 75/76B | €11,228 | €15,621 | +€4,393 | +39.1% |
| Recurring financial income | 75 | €11,228 | €15,621 | +€4,393 | +39.1% |
| Financial charges | 65/66B | €2,841 | €4,450 | +€1,609 | +56.6% |
| Recurring financial charges | 65 | €2,841 | €4,450 | +€1,609 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €71,823 | €101,541 | +€29,718 | +41.4% |
| Income taxes | 67/77 | €24,296 | €34,084 | +€9,789 | +40.3% |
| Profit (loss) for the period | 9904 | €47,527 | €67,457 | +€19,930 | +41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,527 | €67,457 | +€19,930 | +41.9% |
Source: filed annual accounts (NBB), financial years ended 1 January 2025 and 1 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.