Tuzgôlû: 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.
Tuzgôlû
Largest movements
- Stocks and contracts -€4,900
no longer reported in 2025 (was €4,900)
- Tangible fixed assets -€4,138
down €4,138 (-54.1%), from €7,643 to €3,505
of which Plant, machinery and equipment: -€2,514
- Receivables within one year +€2,972
up €2,972 (+184%), from €1,612 to €4,584
- Cash -€244
down €244 (-12.5%), from €1,948 to €1,703
mainly Net result for the year (-€4,124) and Receivables within one year (-€2,972)
- Profit (loss) carried forward -€4,124
down €4,124 (-81.4%), from -€5,063 to -€9,188
- Other debts -€2,186
no longer reported in 2025 (was €2,186)
- Gross operating margin -€4,678
down €4,678, from €3,411 to -€1,267
- Financial charges -€2,243
down €2,243 (-86.7%), from €2,586 to €343
of which Non-recurring financial charges: -€2,179
- Other operating charges -€765
down €765 (-86.9%), from €881 to €116
- Depreciation -€718
down €718 (-22.2%), from €3,232 to €2,514
- Financial income +€116
new in 2025: €116
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 | €16,103 | €9,792 | -€6,310 | -39.2% |
| Fixed assets | 21/28 | €7,643 | €3,505 | -€4,138 | -54.1% |
| Tangible fixed assets | 22/27 | €7,643 | €3,505 | -€4,138 | -54.1% |
| Plant, machinery and equipment | 23 | €6,019 | €3,505 | -€2,514 | -41.8% |
| Furniture and vehicles | 24 | €1,624 | - | -€1,624 | |
| Current assets | 29/58 | €8,459 | €6,287 | -€2,172 | -25.7% |
| Stocks and contracts in progress | 3 | €4,900 | - | -€4,900 | |
| Stocks | 30/36 | €4,900 | - | -€4,900 | |
| Amounts receivable within one year | 40/41 | €1,612 | €4,584 | +€2,972 | +184% |
| Other amounts receivable | 41 | €1,612 | €4,584 | +€2,972 | +184% |
| Cash at bank and in hand | 54/58 | €1,948 | €1,703 | -€244 | -12.5% |
| Total equity and liabilities | 10/49 | €16,103 | €9,792 | -€6,310 | -39.2% |
| Equity | 10/15 | €13,916 | €9,792 | -€4,124 | -29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €380 | €380 | = | 0.0% |
| Non-distributable reserves | 130/1 | €380 | €380 | = | 0.0% |
| Legal reserve | 130 | €380 | €380 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,063 | -€9,188 | -€4,124 | -81.4% |
| Amounts payable | 17/49 | €2,186 | - | -€2,186 | |
| Amounts payable within one year | 42/48 | €2,186 | - | -€2,186 | |
| Other amounts payable | 47/48 | €2,186 | - | -€2,186 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,232 | €2,514 | -€718 | -22.2% |
| Other operating charges | 640/8 | €881 | €116 | -€765 | -86.9% |
| Gross operating margin | 9900 | €3,411 | -€1,267 | -€4,678 | |
| Operating profit (loss) | 9901 | -€702 | -€3,897 | -€3,195 | -455% |
| Financial income | 75/76B | - | €116 | +€116 | |
| Recurring financial income | 75 | - | €116 | +€116 | |
| Financial charges | 65/66B | €2,586 | €343 | -€2,243 | -86.7% |
| Recurring financial charges | 65 | €64 | €343 | +€279 | +434% |
| Non-recurring financial charges | 66B | €2,522 | €343 | -€2,179 | -86.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,289 | -€4,124 | -€835 | -25.4% |
| Profit (loss) for the period | 9904 | -€3,289 | -€4,124 | -€835 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,289 | -€4,124 | -€835 | -25.4% |
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 29 October 2026 via checked.be.