De Thieubouw: 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.
De Thieubouw
Largest movements
- Receivables within one year +€57,511
up €57,511 (+2,515%), from €2,287 to €59,798
of which Trade receivables: +€56,907
- Cash -€18,911
down €18,911 (-24.4%), from €77,623 to €58,713
mainly Receivables within one year (-€57,511) and Investment in fixed assets (net) (-€2,343)
- Tangible fixed assets -€5,872
down €5,872 (-34.3%), from €17,107 to €11,235
of which Plant, machinery and equipment: -€6,922
- Reserves +€13,659
up €13,659 (+31.0%), from €44,109 to €57,768
- Trade debts +€10,978
up €10,978 (+650%), from €1,690 to €12,668
- Tax, wage and social debts +€4,571
up €4,571 (+315%), from €1,451 to €6,023
- Other debts +€3,701
up €3,701 (+7.6%), from €48,816 to €52,517
- Gross operating margin -€3,192
down €3,192 (-9.2%), from €34,667 to €31,475
- Taxes -€1,063
down €1,063 (-15.8%), from €6,718 to €5,655
- Financial charges +€914
up €914 (+37.9%), from €2,408 to €3,322
- Depreciation -€742
down €742 (-8.3%), from €8,957 to €8,215
- Financial income -€347
down €347 (-62.9%), from €552 to €205
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 | €100,905 | €134,727 | +€33,822 | +33.5% |
| Fixed assets | 21/28 | €17,107 | €11,235 | -€5,872 | -34.3% |
| Tangible fixed assets | 22/27 | €17,107 | €11,235 | -€5,872 | -34.3% |
| Plant, machinery and equipment | 23 | €14,091 | €7,169 | -€6,922 | -49.1% |
| Furniture and vehicles | 24 | €3,016 | €4,066 | +€1,050 | +34.8% |
| Current assets | 29/58 | €83,798 | €123,492 | +€39,694 | +47.4% |
| Amounts receivable within one year | 40/41 | €2,287 | €59,798 | +€57,511 | +2,515% |
| Trade receivables | 40 | €803 | €57,710 | +€56,907 | +7,090% |
| Other amounts receivable | 41 | €1,484 | €2,089 | +€604 | +40.7% |
| Cash at bank and in hand | 54/58 | €77,623 | €58,713 | -€18,911 | -24.4% |
| Deferred charges and accrued income | 490/1 | €3,887 | €4,981 | +€1,094 | +28.1% |
| Total equity and liabilities | 10/49 | €100,905 | €134,727 | +€33,822 | +33.5% |
| Equity | 10/15 | €46,609 | €60,268 | +€13,659 | +29.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €44,109 | €57,768 | +€13,659 | +31.0% |
| Distributable reserves | 133 | €44,109 | €57,768 | +€13,659 | +31.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €54,296 | €74,459 | +€20,163 | +37.1% |
| Amounts payable within one year | 42/48 | €51,957 | €71,207 | +€19,250 | +37.1% |
| Trade debts | 44 | €1,690 | €12,668 | +€10,978 | +650% |
| Suppliers | 440/4 | €1,690 | €12,668 | +€10,978 | +650% |
| Taxes, remuneration and social security | 45 | €1,451 | €6,023 | +€4,571 | +315% |
| Taxes | 450/3 | €1,451 | €6,023 | +€4,571 | +315% |
| Other amounts payable | 47/48 | €48,816 | €52,517 | +€3,701 | +7.6% |
| Accrued charges and deferred income | 492/3 | €2,339 | €3,251 | +€912 | +39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,957 | €8,215 | -€742 | -8.3% |
| Other operating charges | 640/8 | €691 | €829 | +€138 | +20.0% |
| Gross operating margin | 9900 | €34,667 | €31,475 | -€3,192 | -9.2% |
| Operating profit (loss) | 9901 | €25,019 | €22,431 | -€2,588 | -10.3% |
| Financial income | 75/76B | €552 | €205 | -€347 | -62.9% |
| Recurring financial income | 75 | €552 | €205 | -€347 | -62.9% |
| Financial charges | 65/66B | €2,408 | €3,322 | +€914 | +37.9% |
| Recurring financial charges | 65 | €2,408 | €3,322 | +€914 | +37.9% |
| Profit (loss) for the period before taxes | 9903 | €23,163 | €19,314 | -€3,849 | -16.6% |
| Income taxes | 67/77 | €6,718 | €5,655 | -€1,063 | -15.8% |
| Profit (loss) for the period | 9904 | €16,445 | €13,659 | -€2,786 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,445 | €13,659 | -€2,786 | -16.9% |
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 24 October 2026 via checked.be.