Billards Thissen: 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
Billards Thissen
NACE 32.300, Other manufacturing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€33,517
2024 · €54,099-€20,581
Equity
€682,199
2024 · €768,682-€86,483
Cash
€47,828
2024 · €76,029-€28,201
Balance sheet total
€2.8m
2024 · €2.9m-€31,829
Largest movements
Assets
- Intangible fixed assets -€60,918
down €60,918 (-38.4%), from €158,488 to €97,570
- Tangible fixed assets -€46,889
down €46,889 (-11.2%), from €420,493 to €373,603
- Stocks and contracts +€46,519
up €46,519 (+7.5%), from €620,920 to €667,439
- Deferred charges and accrued income +€35,553
up €35,553 (+110%), from €32,309 to €67,862
Equity and liabilities
- Other debts +€161,940
up €161,940 (+274%), from €59,000 to €220,940
- Debts after one year -€125,253
down €125,253 (-7.9%), from €1.6m to €1.5m
of which Financial debts: -€123,143
- Profit (loss) carried forward -€76,017
down €76,017 (-59.1%), from €128,648 to €52,632
- Current portion of long-term debt -€61,066
down €61,066 (-33.5%), from €182,214 to €121,148
- Short-term financial debts +€50,000
new in 2025: €50,000
Income statement
- Gross operating margin -€31,967
down €31,967 (-4.7%), from €681,891 to €649,924
- Staff costs -€31,138
down €31,138 (-7.2%), from €431,929 to €400,791
- Financial income +€24,458
up €24,458 (+88.5%), from €27,629 to €52,087
- Financial charges +€22,900
up €22,900 (+40.9%), from €55,931 to €78,831
- Depreciation +€14,109
up €14,109 (+10.2%), from €138,206 to €152,315
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
€54,099
Gross operating margin
-€31,967
Staff costs
+€31,138
Depreciation
-€14,109
Other operating charges
+€1,585
Financial income
+€24,458
Financial charges
-€22,900
Taxes
-€8,787
Result 2025
€33,517
raises the resultlowers the result
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.
From operations
+€272,575
Investment
-€44,457
Financing
-€256,319
Cash 2024
€76,029
From operations (derived)
+€272,575
Net result for the year
+€33,517
Depreciation
+€152,315
Stocks and contracts
-€46,519
Receivables within one year
-€22,158
Deferred charges and accrued income
-€35,553
Provisions
-€3,489
Trade debts
+€44,165
Tax, wage and social debts
-€9,340
Advances received
-€2,841
Other debts
+€161,940
Accrued charges and deferred income
+€537
Investment (derived)
-€44,457
Investment in fixed assets (net)
-€44,457
Financing
-€256,319
Debts after one year
-€125,253
Current portion of long-term debt
-€61,066
Short-term financial debts
+€50,000
Contributions, distributions and other
-€120,000
Cash 2025
€47,828
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,856,583 | €2,824,754 | -€31,829 | -1.1% |
| Fixed assets | 21/28 | €580,070 | €472,213 | -€107,857 | -18.6% |
| Intangible fixed assets | 21 | €158,488 | €97,570 | -€60,918 | -38.4% |
| Tangible fixed assets | 22/27 | €420,493 | €373,603 | -€46,889 | -11.2% |
| Land and buildings | 22 | €304,028 | €287,263 | -€16,765 | -5.5% |
| Plant, machinery and equipment | 23 | €57,674 | €44,966 | -€12,708 | -22.0% |
| Furniture and vehicles | 24 | €58,791 | €41,375 | -€17,416 | -29.6% |
| Financial fixed assets | 28 | €1,089 | €1,039 | -€50 | -4.6% |
| Current assets | 29/58 | €2,276,513 | €2,352,541 | +€76,028 | +3.3% |
| Amounts receivable after more than one year | 29 | €1,440,000 | €1,440,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,440,000 | €1,440,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €620,920 | €667,439 | +€46,519 | +7.5% |
| Stocks | 30/36 | €620,920 | €667,439 | +€46,519 | +7.5% |
| Amounts receivable within one year | 40/41 | €107,255 | €129,412 | +€22,158 | +20.7% |
| Trade receivables | 40 | €84,600 | €105,751 | +€21,151 | +25.0% |
| Other amounts receivable | 41 | €22,655 | €23,661 | +€1,006 | +4.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €76,029 | €47,828 | -€28,201 | -37.1% |
| Deferred charges and accrued income | 490/1 | €32,309 | €67,862 | +€35,553 | +110% |
| Total equity and liabilities | 10/49 | €2,856,583 | €2,824,754 | -€31,829 | -1.1% |
| Equity | 10/15 | €768,682 | €682,199 | -€86,483 | -11.3% |
| Contributions | 10/11 | €543,200 | €543,200 | = | 0.0% |
| Capital | 10 | €543,200 | €543,200 | = | 0.0% |
| Issued capital | 100 | €543,200 | €543,200 | = | 0.0% |
| Reserves | 13 | €96,834 | €86,368 | -€10,466 | -10.8% |
| Non-distributable reserves | 130/1 | €54,320 | €54,320 | = | 0.0% |
| Legal reserve | 130 | €54,320 | €54,320 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,514 | €32,048 | -€10,466 | -24.6% |
| Profit (loss) carried forward | 14 | €128,648 | €52,632 | -€76,017 | -59.1% |
| Provisions and deferred taxes | 16 | €7,338 | €3,849 | -€3,489 | -47.5% |
| Deferred taxes | 168 | €7,338 | €3,849 | -€3,489 | -47.5% |
| Amounts payable | 17/49 | €2,080,563 | €2,138,705 | +€58,142 | +2.8% |
| Amounts payable after more than one year | 17 | €1,591,408 | €1,466,155 | -€125,253 | -7.9% |
| Financial debts | 170/4 | €1,517,096 | €1,393,953 | -€123,143 | -8.1% |
| Other amounts payable | 178/9 | €74,312 | €72,202 | -€2,110 | -2.8% |
| Amounts payable within one year | 42/48 | €488,949 | €671,807 | +€182,858 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €182,214 | €121,148 | -€61,066 | -33.5% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €151,912 | €196,077 | +€44,165 | +29.1% |
| Suppliers | 440/4 | €151,912 | €196,077 | +€44,165 | +29.1% |
| Advances received on contracts in progress | 46 | €17,960 | €15,120 | -€2,841 | -15.8% |
| Taxes, remuneration and social security | 45 | €77,862 | €68,522 | -€9,340 | -12.0% |
| Taxes | 450/3 | €27,616 | €24,104 | -€3,511 | -12.7% |
| Remuneration and social security | 454/9 | €50,247 | €44,418 | -€5,829 | -11.6% |
| Other amounts payable | 47/48 | €59,000 | €220,940 | +€161,940 | +274% |
| Accrued charges and deferred income | 492/3 | €206 | €743 | +€537 | +260% |
| Remuneration, social security and pensions | 62 | €431,929 | €400,791 | -€31,138 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,206 | €152,315 | +€14,109 | +10.2% |
| Other operating charges | 640/8 | €25,627 | €24,041 | -€1,585 | -6.2% |
| Gross operating margin | 9900 | €681,891 | €649,924 | -€31,967 | -4.7% |
| Operating profit (loss) | 9901 | €86,129 | €72,777 | -€13,352 | -15.5% |
| Financial income | 75/76B | €27,629 | €52,087 | +€24,458 | +88.5% |
| Recurring financial income | 75 | €27,629 | €52,087 | +€24,458 | +88.5% |
| Financial charges | 65/66B | €55,931 | €78,831 | +€22,900 | +40.9% |
| Recurring financial charges | 65 | €55,931 | €78,831 | +€22,900 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €57,827 | €46,033 | -€11,794 | -20.4% |
| Transfer from deferred taxes | 780 | €3,489 | €3,489 | = | 0.0% |
| Income taxes | 67/77 | €7,217 | €16,004 | +€8,787 | +122% |
| Profit (loss) for the period | 9904 | €54,099 | €33,517 | -€20,581 | -38.0% |
| Transfer from tax-exempt reserves | 789 | €10,466 | €10,466 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,565 | €43,983 | -€20,581 | -31.9% |
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 21 October 2026 via checked.be.