TOLGA CONSTRUCT PROJECT: 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.
TOLGA CONSTRUCT PROJECT
Largest movements
- Receivables within one year -€24,112
down €24,112 (-25.1%), from €96,029 to €71,917
of which Trade receivables: -€14,812
- Cash +€12,430
up €12,430 (+1,154%), from €1,077 to €13,507
mainly Receivables within one year (+€24,112) and Trade debts (+€3,669)
- Intangible fixed assets -€2,480
down €2,480 (-20.0%), from €12,400 to €9,920
- Tangible fixed assets -€1,160
down €1,160 (-24.2%), from €4,802 to €3,642
- Accrued charges and deferred income -€12,000
no longer reported in 2025 (was €12,000)
- Profit (loss) carried forward -€6,076
down €6,076 (-10.0%), from €60,461 to €54,386
- Trade debts +€3,669
up €3,669 (+1,292%), from €284 to €3,953
- Turnover -€36,856
no longer reported in 2025 (was €36,856)
- Gross operating margin -€30,233
down €30,233, from €29,116 to -€1,118
- Taxes -€9,545
down €9,545 (-98.8%), from €9,662 to €117
- Purchases and services -€7,740
no longer reported in 2025 (was €7,740)
- Other operating charges -€2,942
down €2,942 (-78.7%), from €3,738 to €796
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 | €114,309 | €99,131 | -€15,177 | -13.3% |
| Fixed assets | 21/28 | €17,202 | €13,562 | -€3,640 | -21.2% |
| Intangible fixed assets | 21 | €12,400 | €9,920 | -€2,480 | -20.0% |
| Tangible fixed assets | 22/27 | €4,802 | €3,642 | -€1,160 | -24.2% |
| Land and buildings | 22 | €4,802 | €3,642 | -€1,160 | -24.2% |
| Current assets | 29/58 | €97,106 | €85,569 | -€11,537 | -11.9% |
| Amounts receivable within one year | 40/41 | €96,029 | €71,917 | -€24,112 | -25.1% |
| Trade receivables | 40 | €52,307 | €37,495 | -€14,812 | -28.3% |
| Other amounts receivable | 41 | €43,722 | €34,422 | -€9,300 | -21.3% |
| Cash at bank and in hand | 54/58 | €1,077 | €13,507 | +€12,430 | +1,154% |
| Deferred charges and accrued income | 490/1 | - | €145 | +€145 | |
| Total equity and liabilities | 10/49 | €114,309 | €99,131 | -€15,177 | -13.3% |
| Equity | 10/15 | €93,486 | €87,411 | -€6,076 | -6.5% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Revaluation surpluses | 12 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,461 | €54,386 | -€6,076 | -10.0% |
| Amounts payable | 17/49 | €20,822 | €11,720 | -€9,102 | -43.7% |
| Amounts payable within one year | 42/48 | €8,822 | €11,720 | +€2,898 | +32.9% |
| Trade debts | 44 | €284 | €3,953 | +€3,669 | +1,292% |
| Suppliers | 440/4 | €284 | €3,953 | +€3,669 | +1,292% |
| Taxes, remuneration and social security | 45 | €8,538 | €7,768 | -€770 | -9.0% |
| Taxes | 450/3 | €8,538 | €7,768 | -€770 | -9.0% |
| Accrued charges and deferred income | 492/3 | €12,000 | - | -€12,000 | |
| Turnover | 70 | €36,856 | - | -€36,856 | |
| Goods, raw materials, services and sundry goods | 60/61 | €7,740 | - | -€7,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €998 | €3,640 | +€2,642 | +265% |
| Other operating charges | 640/8 | €3,738 | €796 | -€2,942 | -78.7% |
| Gross operating margin | 9900 | €29,116 | -€1,118 | -€30,233 | |
| Operating profit (loss) | 9901 | €24,380 | -€5,553 | -€29,934 | |
| Financial charges | 65/66B | €280 | €405 | +€125 | +44.8% |
| Recurring financial charges | 65 | €280 | €405 | +€125 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €24,101 | -€5,958 | -€30,059 | |
| Income taxes | 67/77 | €9,662 | €117 | -€9,545 | -98.8% |
| Profit (loss) for the period | 9904 | €14,439 | -€6,076 | -€20,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,439 | -€6,076 | -€20,514 |
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 22 October 2026 via checked.be.