CATHERINE THIRY: what changed
Two fiscal 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.
CATHERINE THIRY
Largest movements
- Cash -€38,413
down €38,413 (-85.2%), from €45,100 to €6,687
mainly Other debts (-€27,490) and Debts after one year (-€20,816)
- Stocks and contracts -€17,455
down €17,455 (-93.0%), from €18,770 to €1,315
- Other debts -€27,490
down €27,490 (-19.0%), from €144,733 to €117,243
- Debts after one year -€20,816
down €20,816 (-18.5%), from €112,678 to €91,861
- Gross operating margin -€10,159
down €10,159 (-31.4%), from €32,351 to €22,192
- Depreciation -€4,478
down €4,478 (-20.0%), from €22,382 to €17,904
- Taxes -€1,715
down €1,715 (-77.7%), from €2,208 to €493
- Other operating charges +€807
up €807 (+70.3%), from €1,149 to €1,956
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,222 | €232,126 | -€52,096 | -18.3% |
| Fixed assets | 21/28 | €218,855 | €221,201 | +€2,346 | +1.1% |
| Tangible fixed assets | 22/27 | €218,855 | €221,201 | +€2,346 | +1.1% |
| Land and buildings | 22 | €218,146 | €202,685 | -€15,462 | -7.1% |
| Furniture and vehicles | 24 | €709 | €18,516 | +€17,807 | +2512.3% |
| Current assets | 29/58 | €65,367 | €10,925 | -€54,442 | -83.3% |
| Stocks and contracts in progress | 3 | €18,770 | €1,315 | -€17,455 | -93.0% |
| Stocks | 30/36 | €18,770 | €1,315 | -€17,455 | -93.0% |
| Amounts receivable within one year | 40/41 | €576 | €1,545 | +€969 | +168.3% |
| Trade receivables | 40 | €513 | €1,545 | +€1,032 | +201.4% |
| Other amounts receivable | 41 | €63 | - | -€63 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €45,100 | €6,687 | -€38,413 | -85.2% |
| Deferred charges and accrued income | 490/1 | €921 | €1,378 | +€457 | +49.6% |
| Total equity and liabilities | 10/49 | €284,222 | €232,126 | -€52,096 | -18.3% |
| Equity | 10/15 | €8,998 | €6,713 | -€2,285 | -25.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,262 | -€7,547 | -€2,285 | -43.4% |
| Amounts payable | 17/49 | €275,224 | €225,413 | -€49,811 | -18.1% |
| Amounts payable after more than one year | 17 | €112,678 | €91,861 | -€20,816 | -18.5% |
| Financial debts | 170/4 | €112,678 | €91,861 | -€20,816 | -18.5% |
| Amounts payable within one year | 42/48 | €162,546 | €133,552 | -€28,994 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €15,334 | €15,816 | +€482 | +3.1% |
| Trade debts | 44 | €272 | - | -€272 | |
| Suppliers | 440/4 | €272 | - | -€272 | |
| Taxes, remuneration and social security | 45 | €2,208 | €493 | -€1,715 | -77.7% |
| Taxes | 450/3 | €2,208 | €493 | -€1,715 | -77.7% |
| Other amounts payable | 47/48 | €144,733 | €117,243 | -€27,490 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,382 | €17,904 | -€4,478 | -20.0% |
| Other operating charges | 640/8 | €1,149 | €1,956 | +€807 | +70.3% |
| Gross operating margin | 9900 | €32,351 | €22,192 | -€10,159 | -31.4% |
| Operating profit (loss) | 9901 | €8,821 | €2,332 | -€6,489 | -73.6% |
| Financial charges | 65/66B | €4,432 | €4,124 | -€308 | -6.9% |
| Recurring financial charges | 65 | €4,432 | €4,124 | -€308 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €4,388 | -€1,792 | -€6,181 | |
| Income taxes | 67/77 | €2,208 | €493 | -€1,715 | -77.7% |
| Profit (loss) for the period | 9904 | €2,181 | -€2,285 | -€4,466 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,181 | -€2,285 | -€4,466 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.