JORIS THIELS ENGINEERING: 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.
JORIS THIELS ENGINEERING
Largest movements
- Tangible fixed assets +€214,089
up €214,089 (+1875.8%), from €11,413 to €225,502
of which Assets under construction and advance payments: +€189,645
- Receivables within one year -€38,334
down €38,334 (-87.2%), from €43,986 to €5,652
of which Trade receivables: -€37,876
- Cash +€5,916
up €5,916 (+5.4%), from €108,853 to €114,768
mainly Debts after one year (+€145,478) and Net result for the year (+€57,928)
- Debts after one year +€145,478
new in 2025: €145,478
- Reserves +€30,000
up €30,000 (+31.3%), from €96,000 to €126,000
- Other debts +€28,705
new in 2025: €28,705
- Trade debts -€25,318
no longer reported in 2025 (was €25,318)
- Gross operating margin +€55,926
up €55,926 (+243.5%), from €22,964 to €78,890
- Taxes +€10,064
up €10,064 (+201.3%), from €5,000 to €15,064
- Depreciation +€4,854
up €4,854 (+691.4%), from €702 to €5,556
- Financial charges -€2,333
down €2,333 (-92.3%), from €2,528 to €195
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 | €164,251 | €345,922 | +€181,671 | +110.6% |
| Fixed assets | 21/28 | €11,413 | €225,502 | +€214,089 | +1875.8% |
| Tangible fixed assets | 22/27 | €11,413 | €225,502 | +€214,089 | +1875.8% |
| Land and buildings | 22 | €11,413 | €9,999 | -€1,414 | -12.4% |
| Furniture and vehicles | 24 | - | €25,858 | +€25,858 | |
| Assets under construction and advance payments | 27 | - | €189,645 | +€189,645 | |
| Current assets | 29/58 | €152,838 | €120,420 | -€32,418 | -21.2% |
| Amounts receivable within one year | 40/41 | €43,986 | €5,652 | -€38,334 | -87.2% |
| Trade receivables | 40 | €43,516 | €5,640 | -€37,876 | -87.0% |
| Other amounts receivable | 41 | €470 | €12 | -€458 | -97.4% |
| Cash at bank and in hand | 54/58 | €108,853 | €114,768 | +€5,916 | +5.4% |
| Total equity and liabilities | 10/49 | €164,251 | €345,922 | +€181,671 | +110.6% |
| Equity | 10/15 | €108,898 | €141,826 | +€32,928 | +30.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €96,000 | €126,000 | +€30,000 | +31.3% |
| Non-distributable reserves | 130/1 | €96,000 | €126,000 | +€30,000 | +31.3% |
| Other | 1319 | €96,000 | €126,000 | +€30,000 | +31.3% |
| Profit (loss) carried forward | 14 | €10,398 | €13,326 | +€2,928 | +28.2% |
| Amounts payable | 17/49 | €55,354 | €204,096 | +€148,743 | +268.7% |
| Amounts payable after more than one year | 17 | - | €145,478 | +€145,478 | |
| Financial debts | 170/4 | - | €145,478 | +€145,478 | |
| Amounts payable within one year | 42/48 | €55,354 | €58,619 | +€3,265 | +5.9% |
| Trade debts | 44 | €25,318 | - | -€25,318 | |
| Suppliers | 440/4 | €25,318 | - | -€25,318 | |
| Taxes, remuneration and social security | 45 | €30,036 | €29,914 | -€122 | -0.4% |
| Taxes | 450/3 | €30,036 | €29,914 | -€122 | -0.4% |
| Other amounts payable | 47/48 | - | €28,705 | +€28,705 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €702 | €5,556 | +€4,854 | +691.4% |
| Other operating charges | 640/8 | €232 | €147 | -€85 | -36.6% |
| Gross operating margin | 9900 | €22,964 | €78,890 | +€55,926 | +243.5% |
| Operating profit (loss) | 9901 | €22,030 | €73,186 | +€51,156 | +232.2% |
| Financial charges | 65/66B | €2,528 | €195 | -€2,333 | -92.3% |
| Recurring financial charges | 65 | €2,528 | €195 | -€2,333 | -92.3% |
| Profit (loss) for the period before taxes | 9903 | €19,502 | €72,992 | +€53,489 | +274.3% |
| Income taxes | 67/77 | €5,000 | €15,064 | +€10,064 | +201.3% |
| Profit (loss) for the period | 9904 | €14,502 | €57,928 | +€43,426 | +299.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,502 | €57,928 | +€43,426 | +299.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.