TORECO: 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.
TORECO
Largest movements
- Current investments +€200,495
new in 2025: €200,495
- Cash -€127,992
down €127,992 (-57.3%), from €223,327 to €95,335
mainly Current investments (-€200,495)
- Reserves +€68,000
up €68,000 (+28.5%), from €238,778 to €306,778
- Gross operating margin +€6,968
up €6,968 (+7.3%), from €96,087 to €103,056
- Taxes +€4,516
up €4,516 (+15.3%), from €29,489 to €34,005
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 | €249,100 | €318,910 | +€69,810 | +28.0% |
| Fixed assets | 21/28 | €13,126 | €10,925 | -€2,201 | -16.8% |
| Tangible fixed assets | 22/27 | €13,113 | €10,912 | -€2,201 | -16.8% |
| Furniture and vehicles | 24 | €13,113 | €10,912 | -€2,201 | -16.8% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €235,975 | €307,985 | +€72,010 | +30.5% |
| Amounts receivable within one year | 40/41 | €12,648 | €12,155 | -€493 | -3.9% |
| Trade receivables | 40 | €10,648 | €11,979 | +€1,331 | +12.5% |
| Other amounts receivable | 41 | €2,000 | €176 | -€1,824 | -91.2% |
| Current investments | 50/53 | - | €200,495 | +€200,495 | |
| Cash at bank and in hand | 54/58 | €223,327 | €95,335 | -€127,992 | -57.3% |
| Total equity and liabilities | 10/49 | €249,100 | €318,910 | +€69,810 | +28.0% |
| Equity | 10/15 | €240,028 | €308,858 | +€68,830 | +28.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €238,778 | €306,778 | +€68,000 | +28.5% |
| Distributable reserves | 133 | €238,778 | €306,778 | +€68,000 | +28.5% |
| Profit (loss) carried forward | 14 | €1,249 | €2,078 | +€830 | +66.4% |
| Amounts payable | 17/49 | €9,072 | €10,052 | +€980 | +10.8% |
| Amounts payable within one year | 42/48 | €9,072 | €10,052 | +€980 | +10.8% |
| Trade debts | 44 | €48 | €370 | +€322 | +664% |
| Suppliers | 440/4 | €48 | €370 | +€322 | +664% |
| Taxes, remuneration and social security | 45 | €9,024 | €9,682 | +€658 | +7.3% |
| Taxes | 450/3 | €9,024 | €9,682 | +€658 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,201 | €2,201 | = | 0.0% |
| Other operating charges | 640/8 | €1,186 | €1,043 | -€143 | -12.0% |
| Gross operating margin | 9900 | €96,087 | €103,056 | +€6,968 | +7.3% |
| Operating profit (loss) | 9901 | €92,700 | €99,811 | +€7,111 | +7.7% |
| Financial income | 75/76B | €2,225 | €3,162 | +€938 | +42.2% |
| Recurring financial income | 75 | €2,225 | €3,162 | +€938 | +42.2% |
| Financial charges | 65/66B | €151 | €139 | -€12 | -8.2% |
| Recurring financial charges | 65 | €151 | €139 | -€12 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €94,773 | €102,835 | +€8,061 | +8.5% |
| Income taxes | 67/77 | €29,489 | €34,005 | +€4,516 | +15.3% |
| Profit (loss) for the period | 9904 | €65,284 | €68,830 | +€3,545 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,284 | €68,830 | +€3,545 | +5.4% |
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 19 October 2026 via checked.be.