Ets THIERRY: 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.
Ets THIERRY
Largest movements
- Current investments +€49,720
up €49,720 (+98.9%), from €50,280 to €100,000
- Cash -€26,475
down €26,475 (-34.3%), from €77,141 to €50,666
mainly Current investments (-€49,720) and Stocks and contracts (-€1,972)
- Tangible fixed assets -€6,691
down €6,691 (-39.0%), from €17,146 to €10,455
of which Furniture and vehicles: -€3,971
- Reserves +€17,213
up €17,213 (+8.5%), from €201,907 to €219,120
of which Distributable reserves: +€17,213
- Trade debts +€2,697
up €2,697 (+108.9%), from €2,477 to €5,174
- Depreciation -€2,262
down €2,262 (-25.3%), from €8,953 to €6,691
- Gross operating margin +€1,187
up €1,187 (+3.4%), from €35,167 to €36,354
- Taxes +€783
up €783 (+9.3%), from €8,382 to €9,165
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 | €235,557 | €254,634 | +€19,077 | +8.1% |
| Fixed assets | 21/28 | €18,146 | €11,455 | -€6,691 | -36.9% |
| Tangible fixed assets | 22/27 | €17,146 | €10,455 | -€6,691 | -39.0% |
| Land and buildings | 22 | €10,114 | €9,060 | -€1,054 | -10.4% |
| Plant, machinery and equipment | 23 | €3,061 | €1,395 | -€1,666 | -54.4% |
| Furniture and vehicles | 24 | €3,971 | - | -€3,971 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €217,411 | €243,179 | +€25,768 | +11.9% |
| Stocks and contracts in progress | 3 | €81,986 | €83,958 | +€1,972 | +2.4% |
| Stocks | 30/36 | €81,986 | €83,958 | +€1,972 | +2.4% |
| Amounts receivable within one year | 40/41 | €5,238 | €5,696 | +€458 | +8.7% |
| Trade receivables | 40 | €1,845 | €5,102 | +€3,257 | +176.6% |
| Other amounts receivable | 41 | €3,393 | €594 | -€2,800 | -82.5% |
| Current investments | 50/53 | €50,280 | €100,000 | +€49,720 | +98.9% |
| Cash at bank and in hand | 54/58 | €77,141 | €50,666 | -€26,475 | -34.3% |
| Deferred charges and accrued income | 490/1 | €2,766 | €2,860 | +€93 | +3.4% |
| Total equity and liabilities | 10/49 | €235,557 | €254,634 | +€19,077 | +8.1% |
| Equity | 10/15 | €228,335 | €245,547 | +€17,213 | +7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €201,907 | €219,120 | +€17,213 | +8.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €200,048 | €217,261 | +€17,213 | +8.6% |
| Profit (loss) carried forward | 14 | €7,827 | €7,827 | = | 0.0% |
| Amounts payable | 17/49 | €7,223 | €9,087 | +€1,864 | +25.8% |
| Amounts payable within one year | 42/48 | €7,223 | €9,087 | +€1,864 | +25.8% |
| Trade debts | 44 | €2,477 | €5,174 | +€2,697 | +108.9% |
| Suppliers | 440/4 | €2,477 | €5,174 | +€2,697 | +108.9% |
| Taxes, remuneration and social security | 45 | €4,746 | €3,913 | -€833 | -17.5% |
| Taxes | 450/3 | €4,746 | €3,913 | -€833 | -17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,953 | €6,691 | -€2,262 | -25.3% |
| Other operating charges | 640/8 | €3,143 | €3,175 | +€32 | +1.0% |
| Non-recurring operating charges | 66A | - | €87 | +€87 | |
| Gross operating margin | 9900 | €35,167 | €36,354 | +€1,187 | +3.4% |
| Operating profit (loss) | 9901 | €23,071 | €26,402 | +€3,330 | +14.4% |
| Financial income | 75/76B | €285 | €128 | -€158 | -55.3% |
| Recurring financial income | 75 | €285 | €128 | -€158 | -55.3% |
| Financial charges | 65/66B | €149 | €151 | +€2 | +1.3% |
| Recurring financial charges | 65 | €149 | €151 | +€2 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | €23,207 | €26,378 | +€3,171 | +13.7% |
| Income taxes | 67/77 | €8,382 | €9,165 | +€783 | +9.3% |
| Profit (loss) for the period | 9904 | €14,825 | €17,213 | +€2,388 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,825 | €17,213 | +€2,388 | +16.1% |
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 12 October 2026 via checked.be.