WOUTER TORFS: 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.
What changed
WOUTER TORFS
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€697,421
2024 · €6,429+€690,992
Equity
€6.6m
2024 · €1.1m+€5.4m
Cash
€1.4m
2024 · €422,036+€1.0m
Balance sheet total
€11.8m
2024 · €4.7m+€7.1m
Largest movements
Assets
- Financial fixed assets +€5.2m
up €5.2m (+18862.6%), from €27,500 to €5.2m
- Cash +€1.0m
up €1.0m (+237.3%), from €422,036 to €1.4m
mainly Contributions, distributions and other (+€4.7m) and Debts after one year (+€2.3m)
- Receivables within one year +€481,543
up €481,543 (+2490.3%), from €19,337 to €500,880
of which Other amounts receivable: +€468,903
- Current investments +€345,000
up €345,000 (+17250.0%), from €2,000 to €347,000
Equity and liabilities
- Contributions +€2.8m
up €2.8m (+796.9%), from €352,796 to €3.2m
- Debts after one year +€2.3m
up €2.3m (+188.8%), from €1.2m to €3.6m
of which Other amounts payable: +€2.6m
- Reserves +€1.6m
up €1.6m (+205.4%), from €756,632 to €2.3m
- Profit (loss) carried forward +€1.1m
new in 2025: €1.1m
- Other debts -€1.0m
down €1.0m (-47.8%), from €2.1m to €1.1m
Income statement
- Gross operating margin +€954,790
up €954,790 (+230.0%), from €415,193 to €1.4m
- Financial charges +€50,579
up €50,579 (+40.4%), from €125,062 to €175,641
- Financial income +€34,903
up €34,903 (+627.9%), from €5,559 to €40,462
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.
Result 2024
€6,429
Gross operating margin
+€954,790
Depreciation
-€7,841
Other operating charges
-€7,086
Financial income
+€34,903
Financial charges
-€50,579
Taxes
-€13,285
Deferred taxes and other
-€219,908
Result 2025
€697,421
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.
From operations
-€270,879
Investment
-€5.8m
Financing
+€7.1m
Cash 2024
€422,036
From operations (derived)
-€270,879
Net result for the year
+€697,421
Depreciation
+€231,993
Receivables within one year
-€481,543
Smaller working-capital items
+€1,337
Provisions
+€222,211
Other debts
-€1.0m
Accrued charges and deferred income
+€60,084
Investment (derived)
-€5.8m
Investment in fixed assets (net)
-€5.5m
Current investments
-€345,000
Financing
+€7.1m
Debts after one year
+€2.3m
Current portion of long-term debt
+€1,225
Contributions, distributions and other
+€4.7m
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,711,011 | €11,766,988 | +€7.1m | +149.8% |
| Fixed assets | 21/28 | €4,264,639 | €9,485,991 | +€5.2m | +122.4% |
| Tangible fixed assets | 22/27 | €4,237,139 | €4,271,275 | +€34,136 | +0.8% |
| Land and buildings | 22 | €4,212,584 | €4,241,617 | +€29,033 | +0.7% |
| Plant, machinery and equipment | 23 | - | €8,260 | +€8,260 | |
| Furniture and vehicles | 24 | €24,555 | €21,398 | -€3,157 | -12.9% |
| Financial fixed assets | 28 | €27,500 | €5,214,716 | +€5.2m | +18862.6% |
| Current assets | 29/58 | €446,372 | €2,280,996 | +€1.8m | +411.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €19,337 | €500,880 | +€481,543 | +2490.3% |
| Trade receivables | 40 | €11,404 | €24,044 | +€12,640 | +110.8% |
| Other amounts receivable | 41 | €7,933 | €476,836 | +€468,903 | +5911.1% |
| Current investments | 50/53 | €2,000 | €347,000 | +€345,000 | +17250.0% |
| Cash at bank and in hand | 54/58 | €422,036 | €1,423,715 | +€1.0m | +237.3% |
| Deferred charges and accrued income | 490/1 | €2,999 | €9,402 | +€6,403 | +213.5% |
| Total equity and liabilities | 10/49 | €4,711,011 | €11,766,988 | +€7.1m | +149.8% |
| Equity | 10/15 | €1,109,428 | €6,552,222 | +€5.4m | +490.6% |
| Contributions | 10/11 | €352,796 | €3,164,154 | +€2.8m | +796.9% |
| Reserves | 13 | €756,632 | €2,310,832 | +€1.6m | +205.4% |
| Non-distributable reserves | 130/1 | €25,904 | €296,404 | +€270,500 | +1044.3% |
| Reserves not available under the articles | 1311 | €25,904 | €296,404 | +€270,500 | +1044.3% |
| Tax-exempt reserves | 132 | €57,973 | €726,710 | +€668,737 | +1153.5% |
| Distributable reserves | 133 | €672,756 | €1,287,718 | +€614,962 | +91.4% |
| Profit (loss) carried forward | 14 | - | €1,077,237 | +€1.1m | |
| Provisions and deferred taxes | 16 | €13,828 | €236,038 | +€222,211 | +1607.0% |
| Provisions for liabilities and charges | 160/5 | - | €3,333 | +€3,333 | |
| Major repairs and maintenance | 162 | - | €3,333 | +€3,333 | |
| Deferred taxes | 168 | €13,828 | €232,705 | +€218,878 | +1582.9% |
| Amounts payable | 17/49 | €3,587,755 | €4,978,727 | +€1.4m | +38.8% |
| Amounts payable after more than one year | 17 | €1,230,858 | €3,555,163 | +€2.3m | +188.8% |
| Financial debts | 170/4 | €1,230,858 | €955,163 | -€275,695 | -22.4% |
| Other amounts payable | 178/9 | - | €2,600,000 | +€2.6m | |
| Amounts payable within one year | 42/48 | €2,344,928 | €1,351,510 | -€993,417 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €238,303 | €239,528 | +€1,225 | +0.5% |
| Trade debts | 44 | €6,327 | €2,607 | -€3,720 | -58.8% |
| Suppliers | 440/4 | €6,327 | €2,607 | -€3,720 | -58.8% |
| Taxes, remuneration and social security | 45 | €3,541 | €15,000 | +€11,459 | +323.6% |
| Taxes | 450/3 | €3,541 | €15,000 | +€11,459 | +323.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,096,757 | €1,094,375 | -€1.0m | -47.8% |
| Accrued charges and deferred income | 492/3 | €11,970 | €72,054 | +€60,084 | +502.0% |
| Non-recurring operating income | 76A | - | €906,420 | +€906,420 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,151 | €231,993 | +€7,841 | +3.5% |
| Other operating charges | 640/8 | €55,499 | €62,585 | +€7,086 | +12.8% |
| Gross operating margin | 9900 | €415,193 | €1,369,983 | +€954,790 | +230.0% |
| Operating profit (loss) | 9901 | €135,543 | €1,075,405 | +€939,862 | +693.4% |
| Financial income | 75/76B | €5,559 | €40,462 | +€34,903 | +627.9% |
| Recurring financial income | 75 | €5,559 | €40,462 | +€34,903 | +627.9% |
| Financial charges | 65/66B | €125,062 | €175,641 | +€50,579 | +40.4% |
| Recurring financial charges | 65 | €125,062 | €175,641 | +€50,579 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €16,040 | €940,226 | +€924,186 | +5761.8% |
| Transfer from deferred taxes | 780 | €1,031 | €1,031 | -€0 | 0.0% |
| Transfer to deferred taxes | 680 | - | €219,908 | +€219,908 | |
| Income taxes | 67/77 | €10,642 | €23,927 | +€13,285 | +124.8% |
| Profit (loss) for the period | 9904 | €6,429 | €697,421 | +€690,992 | +10748.5% |
| Transfer from tax-exempt reserves | 789 | €3,092 | €3,092 | +€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €659,725 | +€659,725 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,521 | €40,788 | +€31,268 | +328.4% |
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 10 October 2026 via checked.be.