DR M Thumas: 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.
DR M Thumas
Largest movements
- Receivables within one year +€39,392
up €39,392 (+531%), from €7,419 to €46,811
of which Other amounts receivable: +€37,771
- Cash -€5,063
down €5,063 (-10.0%), from €50,573 to €45,511
mainly Contributions, distributions and other (-€55,541) and Receivables within one year (-€39,392)
- Tangible fixed assets -€3,661
down €3,661 (-41.6%), from €8,805 to €5,144
of which Furniture and vehicles: -€2,276
- Other debts +€49,794
up €49,794 (+6,877%), from €724 to €50,518
- Reserves -€13,992
down €13,992 (-25.2%), from €55,541 to €41,550
- Tax, wage and social debts -€6,898
down €6,898 (-64.6%), from €10,679 to €3,781
of which Taxes: -€4,298
- Trade debts +€1,358
up €1,358 (+50.9%), from €2,668 to €4,027
- Gross operating margin +€6,568
up €6,568 (+11.4%), from €57,691 to €64,259
- Taxes +€1,667
up €1,667 (+12.1%), from €13,741 to €15,407
- Depreciation +€696
up €696 (+23.5%), from €2,965 to €3,661
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 | €93,219 | €123,619 | +€30,400 | +32.6% |
| Fixed assets | 21/28 | €8,805 | €5,144 | -€3,661 | -41.6% |
| Tangible fixed assets | 22/27 | €8,805 | €5,144 | -€3,661 | -41.6% |
| Plant, machinery and equipment | 23 | €5,942 | €4,556 | -€1,385 | -23.3% |
| Furniture and vehicles | 24 | €2,864 | €588 | -€2,276 | -79.5% |
| Current assets | 29/58 | €84,414 | €118,475 | +€34,061 | +40.4% |
| Amounts receivable within one year | 40/41 | €7,419 | €46,811 | +€39,392 | +531% |
| Trade receivables | 40 | €190 | €1,811 | +€1,621 | +853% |
| Other amounts receivable | 41 | €7,229 | €45,000 | +€37,771 | +522% |
| Current investments | 50/53 | €26,000 | €26,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €50,573 | €45,511 | -€5,063 | -10.0% |
| Deferred charges and accrued income | 490/1 | €421 | €154 | -€268 | -63.5% |
| Total equity and liabilities | 10/49 | €93,219 | €123,619 | +€30,400 | +32.6% |
| Equity | 10/15 | €74,141 | €60,150 | -€13,992 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €55,541 | €41,550 | -€13,992 | -25.2% |
| Distributable reserves | 133 | €55,541 | €41,550 | -€13,992 | -25.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,078 | €63,470 | +€44,392 | +233% |
| Amounts payable within one year | 42/48 | €18,215 | €63,470 | +€45,255 | +248% |
| Current portion of amounts payable after more than one year | 42 | €4,143 | €5,144 | +€1,000 | +24.1% |
| Trade debts | 44 | €2,668 | €4,027 | +€1,358 | +50.9% |
| Suppliers | 440/4 | €2,668 | €4,027 | +€1,358 | +50.9% |
| Taxes, remuneration and social security | 45 | €10,679 | €3,781 | -€6,898 | -64.6% |
| Taxes | 450/3 | €6,779 | €2,481 | -€4,298 | -63.4% |
| Remuneration and social security | 454/9 | €3,900 | €1,300 | -€2,600 | -66.7% |
| Other amounts payable | 47/48 | €724 | €50,518 | +€49,794 | +6,877% |
| Accrued charges and deferred income | 492/3 | €863 | €0 | -€863 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,965 | €3,661 | +€696 | +23.5% |
| Other operating charges | 640/8 | €919 | €997 | +€78 | +8.5% |
| Gross operating margin | 9900 | €57,691 | €64,259 | +€6,568 | +11.4% |
| Operating profit (loss) | 9901 | €53,807 | €59,600 | +€5,794 | +10.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,675 | €2,643 | -€31 | -1.2% |
| Recurring financial charges | 65 | €2,675 | €2,643 | -€31 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €51,132 | €56,957 | +€5,825 | +11.4% |
| Income taxes | 67/77 | €13,741 | €15,407 | +€1,667 | +12.1% |
| Profit (loss) for the period | 9904 | €37,391 | €41,550 | +€4,158 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €37,391 | €41,550 | +€4,158 | +11.1% |
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.