R. 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.
R. THYS
Largest movements
- Cash +€18,885
new in 2025: €18,885
mainly Net result for the year (+€79,789) and Depreciation (+€48,198)
- Stocks and contracts -€11,060
down €11,060 (-13.1%), from €84,600 to €73,540
- Tangible fixed assets +€10,942
up €10,942 (+2.4%), from €464,778 to €475,720
of which Furniture and vehicles: +€41,199
- Reserves +€79,789
up €79,789 (+49.0%), from €162,941 to €242,730
of which Distributable reserves: +€79,789
- Tax, wage and social debts -€38,042
down €38,042 (-22.3%), from €170,229 to €132,187
of which Taxes: -€20,977
- Short-term financial debts -€29,418
down €29,418 (-13.9%), from €211,326 to €181,908
- Other debts +€16,353
up €16,353 (+54.5%), from €30,000 to €46,353
- Debts after one year +€13,330
up €13,330 (+54.3%), from €24,534 to €37,864
- Gross operating margin +€46,366
up €46,366 (+5.8%), from €800,766 to €847,132
- Staff costs +€22,377
up €22,377 (+3.6%), from €615,975 to €638,353
- Financial income -€10,935
down €10,935 (-24.6%), from €44,442 to €33,507
- Taxes +€9,010
up €9,010 (+25.1%), from €35,886 to €44,896
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 | €1,040,777 | €1,063,002 | +€22,225 | +2.1% |
| Fixed assets | 21/28 | €464,778 | €475,720 | +€10,942 | +2.4% |
| Tangible fixed assets | 22/27 | €464,778 | €475,720 | +€10,942 | +2.4% |
| Land and buildings | 22 | €355,955 | €338,815 | -€17,140 | -4.8% |
| Plant, machinery and equipment | 23 | €102,544 | €89,427 | -€13,117 | -12.8% |
| Furniture and vehicles | 24 | €6,279 | €47,478 | +€41,199 | +656.1% |
| Current assets | 29/58 | €575,999 | €587,282 | +€11,283 | +2.0% |
| Stocks and contracts in progress | 3 | €84,600 | €73,540 | -€11,060 | -13.1% |
| Stocks | 30/36 | €84,600 | €73,540 | -€11,060 | -13.1% |
| Amounts receivable within one year | 40/41 | €490,312 | €485,973 | -€4,339 | -0.9% |
| Trade receivables | 40 | €295,483 | €327,824 | +€32,341 | +10.9% |
| Other amounts receivable | 41 | €194,829 | €158,149 | -€36,680 | -18.8% |
| Cash at bank and in hand | 54/58 | - | €18,885 | +€18,885 | |
| Deferred charges and accrued income | 490/1 | €1,087 | €8,884 | +€7,797 | +717.1% |
| Total equity and liabilities | 10/49 | €1,040,777 | €1,063,002 | +€22,225 | +2.1% |
| Equity | 10/15 | €350,194 | €429,983 | +€79,789 | +22.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €162,941 | €242,730 | +€79,789 | +49.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,281 | €2,281 | = | 0.0% |
| Distributable reserves | 133 | €154,463 | €234,252 | +€79,789 | +51.7% |
| Profit (loss) carried forward | 14 | €125,279 | €125,279 | = | 0.0% |
| Amounts payable | 17/49 | €690,583 | €633,019 | -€57,564 | -8.3% |
| Amounts payable after more than one year | 17 | €24,534 | €37,864 | +€13,330 | +54.3% |
| Financial debts | 170/4 | €24,534 | €37,864 | +€13,330 | +54.3% |
| Amounts payable within one year | 42/48 | €666,049 | €595,155 | -€70,894 | -10.6% |
| Current portion of amounts payable after more than one year | 42 | €35,379 | €28,309 | -€7,071 | -20.0% |
| Financial debts | 43 | €211,326 | €181,908 | -€29,418 | -13.9% |
| Credit institutions | 430/8 | €211,326 | €181,908 | -€29,418 | -13.9% |
| Trade debts | 44 | €219,115 | €206,399 | -€12,716 | -5.8% |
| Suppliers | 440/4 | €219,115 | €206,399 | -€12,716 | -5.8% |
| Taxes, remuneration and social security | 45 | €170,229 | €132,187 | -€38,042 | -22.3% |
| Taxes | 450/3 | €71,875 | €50,897 | -€20,977 | -29.2% |
| Remuneration and social security | 454/9 | €98,355 | €81,290 | -€17,064 | -17.3% |
| Other amounts payable | 47/48 | €30,000 | €46,353 | +€16,353 | +54.5% |
| Remuneration, social security and pensions | 62 | €615,975 | €638,353 | +€22,377 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,194 | €48,198 | +€4 | 0.0% |
| Other operating charges | 640/8 | €20,256 | €21,490 | +€1,234 | +6.1% |
| Non-recurring operating charges | 66A | €85 | €5,825 | +€5,740 | +6752.9% |
| Gross operating margin | 9900 | €800,766 | €847,132 | +€46,366 | +5.8% |
| Operating profit (loss) | 9901 | €116,257 | €133,267 | +€17,010 | +14.6% |
| Financial income | 75/76B | €44,442 | €33,507 | -€10,935 | -24.6% |
| Recurring financial income | 75 | €44,442 | €33,507 | -€10,935 | -24.6% |
| Financial charges | 65/66B | €47,492 | €42,089 | -€5,403 | -11.4% |
| Recurring financial charges | 65 | €47,492 | €42,089 | -€5,403 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €113,207 | €124,685 | +€11,478 | +10.1% |
| Income taxes | 67/77 | €35,886 | €44,896 | +€9,010 | +25.1% |
| Profit (loss) for the period | 9904 | €77,321 | €79,789 | +€2,468 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €77,321 | €79,789 | +€2,468 | +3.2% |
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 9 October 2026 via checked.be.