FOTO VIDEO THOR: what changed
FOTO VIDEO THOR
Largest movements
- Cash +€68,406
up €68,406 (+135%), from €50,582 to €118,988
mainly Net result for the year (+€23,486) and Other debts (+€19,850)
- Tangible fixed assets -€34,859
down €34,859 (-10.7%), from €326,619 to €291,760
of which Furniture and vehicles: -€18,486
- Deferred charges and accrued income -€6,122
down €6,122 (-47.6%), from €12,869 to €6,747
- Stocks and contracts -€5,149
down €5,149 (-12.6%), from €40,844 to €35,694
- Debts after one year -€27,169
down €27,169 (-16.0%), from €169,766 to €142,598
- Reserves +€23,486
up €23,486 (+15.6%), from €150,424 to €173,910
of which Distributable reserves: +€23,486
- Other debts +€19,850
up €19,850 (+295%), from €6,729 to €26,579
- Tax, wage and social debts +€5,082
up €5,082 (+80.7%), from €6,301 to €11,384
of which Taxes: +€8,482
- Gross operating margin +€8,080
up €8,080 (+12.4%), from €65,306 to €73,385
- Write-downs +€6,051
up €6,051 (+2,678%), from €226 to €6,277
- Taxes +€2,752
up €2,752 (+33.8%), from €8,154 to €10,906
- Depreciation -€1,221
down €1,221 (-6.0%), from €20,180 to €18,959
- Financial income -€903
down €903 (-58.5%), from €1,544 to €641
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €437,574 | €460,311 | +€22,737 | +5.2% |
| Fixed assets | 21/28 | €330,788 | €295,930 | -€34,859 | -10.5% |
| Tangible fixed assets | 22/27 | €326,619 | €291,760 | -€34,859 | -10.7% |
| Land and buildings | 22 | €307,862 | €291,760 | -€16,102 | -5.2% |
| Furniture and vehicles | 24 | €18,486 | - | -€18,486 | |
| Leasing and similar rights | 25 | €270 | - | -€270 | |
| Financial fixed assets | 28 | €4,169 | €4,169 | = | 0.0% |
| Current assets | 29/58 | €106,786 | €164,381 | +€57,595 | +53.9% |
| Stocks and contracts in progress | 3 | €40,844 | €35,694 | -€5,149 | -12.6% |
| Stocks | 30/36 | €40,844 | €35,694 | -€5,149 | -12.6% |
| Amounts receivable within one year | 40/41 | €2,491 | €2,951 | +€460 | +18.5% |
| Trade receivables | 40 | €2,491 | €2,951 | +€460 | +18.5% |
| Cash at bank and in hand | 54/58 | €50,582 | €118,988 | +€68,406 | +135% |
| Deferred charges and accrued income | 490/1 | €12,869 | €6,747 | -€6,122 | -47.6% |
| Total equity and liabilities | 10/49 | €437,574 | €460,311 | +€22,737 | +5.2% |
| Equity | 10/15 | €218,966 | €242,452 | +€23,486 | +10.7% |
| Contributions | 10/11 | €17,445 | €17,445 | = | 0.0% |
| Reserves | 13 | €150,424 | €173,910 | +€23,486 | +15.6% |
| Tax-exempt reserves | 132 | €378 | €378 | = | 0.0% |
| Distributable reserves | 133 | €150,046 | €173,532 | +€23,486 | +15.7% |
| Profit (loss) carried forward | 14 | €51,097 | €51,097 | = | 0.0% |
| Amounts payable | 17/49 | €218,609 | €217,859 | -€750 | -0.3% |
| Amounts payable after more than one year | 17 | €169,766 | €142,598 | -€27,169 | -16.0% |
| Financial debts | 170/4 | €169,766 | €142,598 | -€27,169 | -16.0% |
| Amounts payable within one year | 42/48 | €47,976 | €74,411 | +€26,434 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €28,638 | €27,169 | -€1,470 | -5.1% |
| Trade debts | 44 | €6,308 | €9,280 | +€2,972 | +47.1% |
| Suppliers | 440/4 | €6,308 | €9,280 | +€2,972 | +47.1% |
| Taxes, remuneration and social security | 45 | €6,301 | €11,384 | +€5,082 | +80.7% |
| Taxes | 450/3 | €2,901 | €11,384 | +€8,482 | +292% |
| Remuneration and social security | 454/9 | €3,400 | - | -€3,400 | |
| Other amounts payable | 47/48 | €6,729 | €26,579 | +€19,850 | +295% |
| Accrued charges and deferred income | 492/3 | €866 | €850 | -€16 | -1.8% |
| Non-recurring operating income | 76A | - | €13,514 | +€13,514 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,180 | €18,959 | -€1,221 | -6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €226 | €6,277 | +€6,051 | +2,678% |
| Other operating charges | 640/8 | €6,821 | €6,930 | +€109 | +1.6% |
| Non-recurring operating charges | 66A | €4,686 | - | -€4,686 | |
| Gross operating margin | 9900 | €65,306 | €73,385 | +€8,080 | +12.4% |
| Operating profit (loss) | 9901 | €33,394 | €41,220 | +€7,827 | +23.4% |
| Financial income | 75/76B | €1,544 | €641 | -€903 | -58.5% |
| Recurring financial income | 75 | €1,544 | €641 | -€903 | -58.5% |
| Financial charges | 65/66B | €7,119 | €7,469 | +€350 | +4.9% |
| Recurring financial charges | 65 | €7,119 | €7,469 | +€350 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €27,818 | €34,392 | +€6,574 | +23.6% |
| Income taxes | 67/77 | €8,154 | €10,906 | +€2,752 | +33.8% |
| Profit (loss) for the period | 9904 | €19,665 | €23,486 | +€3,822 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,665 | €23,486 | +€3,822 | +19.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.