J. THIENPONT: 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.
What changed
J. THIENPONT
NACE 46.349, Wholesale of beverages, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€221,498
2024 · €30,416+€191,082
Equity
€6.3m
2024 · €6.0m+€221,498
Cash
€149,709
2024 · €98,505+€51,204
Balance sheet total
€21.1m
2024 · €19.8m+€1.2m
Largest movements
Assets
- Stocks and contracts +€705,177
up €705,177 (+9.2%), from €7.7m to €8.4m
- Receivables within one year +€636,606
up €636,606 (+16.3%), from €3.9m to €4.6m
of which Trade receivables: +€731,267
Equity and liabilities
- Trade debts +€700,006
up €700,006 (+64.4%), from €1.1m to €1.8m
- Advances received +€364,269
up €364,269 (+8.8%), from €4.1m to €4.5m
- Reserves +€223,268
up €223,268 (+3.7%), from €6.0m to €6.3m
Income statement
- Staff costs -€171,318
down €171,318 (-31.2%), from €549,044 to €377,726
- Gross operating margin +€41,711
up €41,711 (+3.7%), from €1.1m to €1.2m
- Depreciation +€28,476
up €28,476 (+9.0%), from €316,865 to €345,340
- Taxes -€14,421
down €14,421 (-17.0%), from €84,736 to €70,315
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.
Result 2024
€30,416
Gross operating margin
+€41,711
Staff costs
+€171,318
Depreciation
-€28,476
Write-downs
-€2,868
Other operating charges
+€2,479
Financial income
+€365
Financial charges
-€7,869
Taxes
+€14,421
Result 2025
€221,498
raises the resultlowers the result
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.
From operations
+€233,989
Investment
-€182,785
Financing
€0
Cash 2024
€98,505
From operations (derived)
+€233,989
Net result for the year
+€221,498
Depreciation
+€345,340
Stocks and contracts
-€705,177
Receivables within one year
-€636,606
Deferred charges and accrued income
-€702
Trade debts
+€700,006
Tax, wage and social debts
+€54,811
Advances received
+€364,269
Other debts
-€116,135
Accrued charges and deferred income
+€6,685
Investment (derived)
-€182,785
Investment in fixed assets (net)
-€182,785
Cash 2025
€149,709
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €19,828,441 | €21,059,575 | +€1.2m | +6.2% |
| Fixed assets | 21/28 | €8,125,253 | €7,962,697 | -€162,556 | -2.0% |
| Tangible fixed assets | 22/27 | €8,117,453 | €7,954,897 | -€162,556 | -2.0% |
| Land and buildings | 22 | €6,424,743 | €6,209,487 | -€215,257 | -3.4% |
| Plant, machinery and equipment | 23 | €9,231 | €6,252 | -€2,979 | -32.3% |
| Furniture and vehicles | 24 | €183,286 | €234,874 | +€51,588 | +28.1% |
| Other tangible fixed assets | 26 | €1,500,193 | €1,504,284 | +€4,092 | +0.3% |
| Financial fixed assets | 28 | €7,800 | €7,800 | = | 0.0% |
| Current assets | 29/58 | €11,703,188 | €13,096,878 | +€1.4m | +11.9% |
| Stocks and contracts in progress | 3 | €7,669,124 | €8,374,301 | +€705,177 | +9.2% |
| Stocks | 30/36 | €7,669,124 | €8,374,301 | +€705,177 | +9.2% |
| Amounts receivable within one year | 40/41 | €3,914,387 | €4,550,993 | +€636,606 | +16.3% |
| Trade receivables | 40 | €3,816,101 | €4,547,368 | +€731,267 | +19.2% |
| Other amounts receivable | 41 | €98,286 | €3,625 | -€94,661 | -96.3% |
| Cash at bank and in hand | 54/58 | €98,505 | €149,709 | +€51,204 | +52.0% |
| Deferred charges and accrued income | 490/1 | €21,172 | €21,875 | +€702 | +3.3% |
| Total equity and liabilities | 10/49 | €19,828,441 | €21,059,575 | +€1.2m | +6.2% |
| Equity | 10/15 | €6,047,231 | €6,268,728 | +€221,498 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,026,860 | €6,250,128 | +€223,268 | +3.7% |
| Distributable reserves | 133 | €6,026,860 | €6,250,128 | +€223,268 | +3.7% |
| Profit (loss) carried forward | 14 | €1,771 | €0 | -€1,771 | -100% |
| Amounts payable | 17/49 | €13,781,210 | €14,790,847 | +€1.0m | +7.3% |
| Amounts payable after more than one year | 17 | €173,525 | €173,525 | = | 0.0% |
| Financial debts | 170/4 | €173,525 | €173,525 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,487,311 | €14,490,262 | +€1.0m | +7.4% |
| Trade debts | 44 | €1,086,471 | €1,786,478 | +€700,006 | +64.4% |
| Suppliers | 440/4 | €1,086,471 | €1,786,478 | +€700,006 | +64.4% |
| Advances received on contracts in progress | 46 | €4,148,380 | €4,512,649 | +€364,269 | +8.8% |
| Taxes, remuneration and social security | 45 | €76,482 | €131,293 | +€54,811 | +71.7% |
| Taxes | 450/3 | €27,147 | €79,965 | +€52,818 | +195% |
| Remuneration and social security | 454/9 | €49,335 | €51,327 | +€1,993 | +4.0% |
| Other amounts payable | 47/48 | €8,175,977 | €8,059,843 | -€116,135 | -1.4% |
| Accrued charges and deferred income | 492/3 | €120,374 | €127,059 | +€6,685 | +5.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €549,044 | €377,726 | -€171,318 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €316,865 | €345,340 | +€28,476 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,868 | €0 | +€2,868 | |
| Other operating charges | 640/8 | €22,837 | €20,358 | -€2,479 | -10.9% |
| Gross operating margin | 9900 | €1,123,090 | €1,164,800 | +€41,711 | +3.7% |
| Operating profit (loss) | 9901 | €237,212 | €421,376 | +€184,164 | +77.6% |
| Financial income | 75/76B | €525 | €890 | +€365 | +69.6% |
| Recurring financial income | 75 | €525 | €890 | +€365 | +69.6% |
| Financial charges | 65/66B | €122,584 | €130,453 | +€7,869 | +6.4% |
| Recurring financial charges | 65 | €122,584 | €130,453 | +€7,869 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €115,152 | €291,813 | +€176,661 | +153% |
| Income taxes | 67/77 | €84,736 | €70,315 | -€14,421 | -17.0% |
| Profit (loss) for the period | 9904 | €30,416 | €221,498 | +€191,082 | +628% |
| Profit (loss) for the period to be appropriated | 9905 | €30,416 | €221,498 | +€191,082 | +628% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.