GM THYS: 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.
GM THYS
Largest movements
- Tangible fixed assets -€19,574
down €19,574 (-4.5%), from €439,862 to €420,288
of which Land and buildings: -€22,664
- Cash -€11,173
down €11,173 (-13.6%), from €82,435 to €71,262
mainly Contributions, distributions and other (-€41,682) and Debts after one year (-€26,508)
- Receivables within one year -€9,192
down €9,192 (-33.8%), from €27,224 to €18,031
of which Other amounts receivable: -€7,593
- Debts after one year -€26,508
down €26,508 (-11.7%), from €226,563 to €200,055
- Profit (loss) carried forward -€10,038
down €10,038 (-5.8%), from €171,644 to €161,606
- Gross operating margin +€10,216
up €10,216 (+15.5%), from €65,912 to €76,128
- Financial charges -€2,884
down €2,884 (-22.6%), from €12,736 to €9,852
- Taxes +€2,597
new in 2025: €2,597
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 | €549,521 | €509,612 | -€39,910 | -7.3% |
| Fixed assets | 21/28 | €439,862 | €420,288 | -€19,574 | -4.5% |
| Tangible fixed assets | 22/27 | €439,862 | €420,288 | -€19,574 | -4.5% |
| Land and buildings | 22 | €435,112 | €412,448 | -€22,664 | -5.2% |
| Plant, machinery and equipment | 23 | €4,751 | €4,193 | -€558 | -11.7% |
| Other tangible fixed assets | 26 | - | €3,647 | +€3,647 | |
| Current assets | 29/58 | €109,659 | €89,324 | -€20,335 | -18.5% |
| Amounts receivable within one year | 40/41 | €27,224 | €18,031 | -€9,192 | -33.8% |
| Trade receivables | 40 | €5,891 | €4,292 | -€1,599 | -27.1% |
| Other amounts receivable | 41 | €21,333 | €13,740 | -€7,593 | -35.6% |
| Cash at bank and in hand | 54/58 | €82,435 | €71,262 | -€11,173 | -13.6% |
| Deferred charges and accrued income | 490/1 | - | €30 | +€30 | |
| Total equity and liabilities | 10/49 | €549,521 | €509,612 | -€39,910 | -7.3% |
| Equity | 10/15 | €294,769 | €283,049 | -€11,720 | -4.0% |
| Contributions | 10/11 | €76,289 | €76,289 | = | 0.0% |
| Reserves | 13 | €15,248 | €15,248 | = | 0.0% |
| Distributable reserves | 133 | €15,248 | €15,248 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171,644 | €161,606 | -€10,038 | -5.8% |
| Investment grants | 15 | €31,588 | €29,906 | -€1,682 | -5.3% |
| Amounts payable | 17/49 | €254,752 | €226,563 | -€28,190 | -11.1% |
| Amounts payable after more than one year | 17 | €226,563 | €200,055 | -€26,508 | -11.7% |
| Financial debts | 170/4 | €226,563 | €200,055 | -€26,508 | -11.7% |
| Amounts payable within one year | 42/48 | €28,146 | €26,508 | -€1,639 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €23,230 | €26,508 | +€3,278 | +14.1% |
| Trade debts | 44 | €596 | - | -€596 | |
| Suppliers | 440/4 | €596 | - | -€596 | |
| Other amounts payable | 47/48 | €4,321 | - | -€4,321 | |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,221 | €23,564 | +€343 | +1.5% |
| Other operating charges | 640/8 | €12,021 | €11,865 | -€156 | -1.3% |
| Gross operating margin | 9900 | €65,912 | €76,128 | +€10,216 | +15.5% |
| Operating profit (loss) | 9901 | €30,670 | €40,699 | +€10,029 | +32.7% |
| Financial income | 75/76B | €2,402 | €1,712 | -€690 | -28.7% |
| Recurring financial income | 75 | €2,402 | €1,712 | -€690 | -28.7% |
| Financial charges | 65/66B | €12,736 | €9,852 | -€2,884 | -22.6% |
| Recurring financial charges | 65 | €12,736 | €9,852 | -€2,884 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €20,336 | €32,558 | +€12,222 | +60.1% |
| Income taxes | 67/77 | - | €2,597 | +€2,597 | |
| Profit (loss) for the period | 9904 | €20,336 | €29,962 | +€9,626 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,336 | €29,962 | +€9,626 | +47.3% |
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.