C. 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.
C. Thissen
Largest movements
- Cash -€34,903
down €34,903 (-80.6%), from €43,292 to €8,388
mainly Other debts (-€47,632) and Contributions, distributions and other (-€40,000)
- Tangible fixed assets +€25,924
up €25,924 (+155%), from €16,735 to €42,659
of which Furniture and vehicles: +€22,935
- Other debts -€47,632
down €47,632 (-53.1%), from €89,767 to €42,135
- Reserves +€18,500
up €18,500 (+39.1%), from €47,360 to €65,860
- Debts after one year +€14,012
up €14,012 (+40.0%), from €35,000 to €49,012
- Current portion of long-term debt +€4,809
new in 2025: €4,809
- Financial income +€22,000
up €22,000 (+122%), from €18,000 to €40,000
- Gross operating margin +€7,890
up €7,890 (+11.8%), from €66,640 to €74,530
- Other operating charges +€1,002
up €1,002 (+22.0%), from €4,550 to €5,552
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 | €201,034 | €190,621 | -€10,413 | -5.2% |
| Fixed assets | 21/28 | €140,345 | €166,269 | +€25,924 | +18.5% |
| Tangible fixed assets | 22/27 | €16,735 | €42,659 | +€25,924 | +155% |
| Furniture and vehicles | 24 | €16,735 | €39,670 | +€22,935 | +137% |
| Other tangible fixed assets | 26 | - | €2,989 | +€2,989 | |
| Financial fixed assets | 28 | €123,610 | €123,610 | = | 0.0% |
| Current assets | 29/58 | €60,690 | €24,352 | -€36,337 | -59.9% |
| Amounts receivable within one year | 40/41 | €15,769 | €14,901 | -€868 | -5.5% |
| Trade receivables | 40 | €14,677 | €12,631 | -€2,046 | -13.9% |
| Other amounts receivable | 41 | €1,092 | €2,270 | +€1,178 | +108% |
| Cash at bank and in hand | 54/58 | €43,292 | €8,388 | -€34,903 | -80.6% |
| Deferred charges and accrued income | 490/1 | €1,629 | €1,062 | -€566 | -34.8% |
| Total equity and liabilities | 10/49 | €201,034 | €190,621 | -€10,413 | -5.2% |
| Equity | 10/15 | €66,018 | €84,563 | +€18,545 | +28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,360 | €65,860 | +€18,500 | +39.1% |
| Distributable reserves | 133 | €47,360 | €65,860 | +€18,500 | +39.1% |
| Profit (loss) carried forward | 14 | €58 | €103 | +€45 | +78.1% |
| Amounts payable | 17/49 | €135,017 | €106,058 | -€28,958 | -21.4% |
| Amounts payable after more than one year | 17 | €35,000 | €49,012 | +€14,012 | +40.0% |
| Financial debts | 170/4 | €35,000 | €49,012 | +€14,012 | +40.0% |
| Amounts payable within one year | 42/48 | €100,017 | €57,047 | -€42,970 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,809 | +€4,809 | |
| Trade debts | 44 | €186 | €149 | -€37 | -19.8% |
| Suppliers | 440/4 | €186 | €149 | -€37 | -19.8% |
| Taxes, remuneration and social security | 45 | €10,063 | €9,954 | -€110 | -1.1% |
| Taxes | 450/3 | €2,236 | €1,800 | -€436 | -19.5% |
| Remuneration and social security | 454/9 | €7,828 | €8,154 | +€326 | +4.2% |
| Other amounts payable | 47/48 | €89,767 | €42,135 | -€47,632 | -53.1% |
| Remuneration, social security and pensions | 62 | €34,288 | €34,838 | +€550 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,864 | €7,207 | -€657 | -8.4% |
| Other operating charges | 640/8 | €4,550 | €5,552 | +€1,002 | +22.0% |
| Gross operating margin | 9900 | €66,640 | €74,530 | +€7,890 | +11.8% |
| Operating profit (loss) | 9901 | €19,938 | €26,933 | +€6,995 | +35.1% |
| Financial income | 75/76B | €18,000 | €40,000 | +€22,000 | +122% |
| Recurring financial income | 75 | €18,000 | €40,000 | +€22,000 | +122% |
| Financial charges | 65/66B | €348 | €614 | +€266 | +76.4% |
| Recurring financial charges | 65 | €348 | €614 | +€266 | +76.4% |
| Profit (loss) for the period before taxes | 9903 | €37,590 | €66,320 | +€28,729 | +76.4% |
| Income taxes | 67/77 | €7,143 | €7,775 | +€632 | +8.8% |
| Profit (loss) for the period | 9904 | €30,447 | €58,545 | +€28,098 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,447 | €58,545 | +€28,098 | +92.3% |
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 25 October 2026 via checked.be.