GUY THIENPONT: what changed
Two fiscal 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.
GUY THIENPONT
Largest movements
- Tangible fixed assets -€16,364
down €16,364 (-26.2%), from €62,367 to €46,003
of which Furniture and vehicles: -€14,168
- Cash -€11,343
down €11,343 (-98.4%), from €11,530 to €186
mainly Net result for the year (-€25,147) and Other debts (-€5,027)
- Receivables within one year -€3,850
down €3,850 (-58.9%), from €6,540 to €2,690
of which Trade receivables: -€4,460
- Deferred charges and accrued income +€2,047
new in 2025: €2,047
- Profit (loss) carried forward -€25,147
down €25,147 (-23.2%), from -€108,172 to -€133,319
- Other debts -€5,027
down €5,027 (-3.0%), from €167,628 to €162,601
- Trade debts +€957
up €957 (+52.3%), from €1,830 to €2,787
- Gross operating margin -€14,755
down €14,755, from €6,925 to -€7,830
- Other operating charges -€1,168
down €1,168 (-69.8%), from €1,673 to €505
- Depreciation +€1,143
up €1,143 (+7.5%), from €15,221 to €16,364
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 | €80,436 | €50,926 | -€29,511 | -36.7% |
| Fixed assets | 21/28 | €62,367 | €46,003 | -€16,364 | -26.2% |
| Tangible fixed assets | 22/27 | €62,367 | €46,003 | -€16,364 | -26.2% |
| Plant, machinery and equipment | 23 | €2,633 | €920 | -€1,713 | -65.0% |
| Furniture and vehicles | 24 | €57,797 | €43,629 | -€14,168 | -24.5% |
| Other tangible fixed assets | 26 | €1,938 | €1,454 | -€484 | -25.0% |
| Current assets | 29/58 | €18,070 | €4,923 | -€13,147 | -72.8% |
| Amounts receivable within one year | 40/41 | €6,540 | €2,690 | -€3,850 | -58.9% |
| Trade receivables | 40 | €6,101 | €1,640 | -€4,460 | -73.1% |
| Other amounts receivable | 41 | €439 | €1,050 | +€610 | +138.9% |
| Cash at bank and in hand | 54/58 | €11,530 | €186 | -€11,343 | -98.4% |
| Deferred charges and accrued income | 490/1 | - | €2,047 | +€2,047 | |
| Total equity and liabilities | 10/49 | €80,436 | €50,926 | -€29,511 | -36.7% |
| Equity | 10/15 | -€89,580 | -€114,727 | -€25,147 | -28.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,172 | -€133,319 | -€25,147 | -23.2% |
| Amounts payable | 17/49 | €170,016 | €165,653 | -€4,363 | -2.6% |
| Amounts payable within one year | 42/48 | €169,717 | €165,653 | -€4,064 | -2.4% |
| Trade debts | 44 | €1,830 | €2,787 | +€957 | +52.3% |
| Suppliers | 440/4 | €1,830 | €2,787 | +€957 | +52.3% |
| Taxes, remuneration and social security | 45 | €259 | €264 | +€5 | +2.0% |
| Taxes | 450/3 | €259 | €264 | +€5 | +2.0% |
| Other amounts payable | 47/48 | €167,628 | €162,601 | -€5,027 | -3.0% |
| Accrued charges and deferred income | 492/3 | €299 | €0 | -€299 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,221 | €16,364 | +€1,143 | +7.5% |
| Other operating charges | 640/8 | €1,673 | €505 | -€1,168 | -69.8% |
| Gross operating margin | 9900 | €6,925 | -€7,830 | -€14,755 | |
| Operating profit (loss) | 9901 | -€9,969 | -€24,699 | -€14,730 | -147.8% |
| Financial income | 75/76B | €9 | €0 | -€9 | -96.0% |
| Recurring financial income | 75 | €9 | €0 | -€9 | -96.0% |
| Financial charges | 65/66B | €205 | €184 | -€21 | -10.2% |
| Recurring financial charges | 65 | €205 | €184 | -€21 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,165 | -€24,883 | -€14,718 | -144.8% |
| Income taxes | 67/77 | €259 | €264 | +€5 | +2.0% |
| Profit (loss) for the period | 9904 | -€10,424 | -€25,147 | -€14,723 | -141.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,424 | -€25,147 | -€14,723 | -141.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.