S.C. 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.
S.C. THIENPONT
Largest movements
- Receivables within one year +€17,914
up €17,914 (+111%), from €16,077 to €33,991
of which Other amounts receivable: +€24,992
- Cash +€12,335
up €12,335 (+110%), from €11,214 to €23,549
mainly Net result for the year (+€52,842) and Depreciation (+€41,432)
- Tangible fixed assets -€10,332
down €10,332 (-6.4%), from €162,505 to €152,173
of which Leasing and similar rights: -€12,289
- Profit (loss) carried forward +€52,842
up €52,842 (+69.4%), from -€76,148 to -€23,306
- Debts after one year -€14,004
down €14,004 (-7.0%), from €200,451 to €186,447
of which Other amounts payable: -€8,473
- Trade debts -€13,742
down €13,742 (-80.8%), from €17,011 to €3,269
- Current portion of long-term debt -€10,079
down €10,079 (-64.6%), from €15,610 to €5,531
- Tax, wage and social debts +€4,509
up €4,509 (+110%), from €4,095 to €8,603
- Gross operating margin -€10,639
down €10,639 (-9.6%), from €110,984 to €100,345
- Financial charges -€2,370
down €2,370 (-39.6%), from €5,980 to €3,610
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €190,577 | €211,538 | +€20,960 | +11.0% |
| Fixed assets | 21/28 | €162,505 | €152,173 | -€10,332 | -6.4% |
| Tangible fixed assets | 22/27 | €162,505 | €152,173 | -€10,332 | -6.4% |
| Land and buildings | 22 | €37,002 | €31,479 | -€5,523 | -14.9% |
| Plant, machinery and equipment | 23 | €48,134 | €58,901 | +€10,767 | +22.4% |
| Furniture and vehicles | 24 | €9,779 | €6,492 | -€3,287 | -33.6% |
| Leasing and similar rights | 25 | €67,590 | €55,301 | -€12,289 | -18.2% |
| Current assets | 29/58 | €28,072 | €59,365 | +€31,292 | +111% |
| Stocks and contracts in progress | 3 | €782 | €1,825 | +€1,043 | +133% |
| Stocks | 30/36 | €782 | €1,825 | +€1,043 | +133% |
| Amounts receivable within one year | 40/41 | €16,077 | €33,991 | +€17,914 | +111% |
| Trade receivables | 40 | €16,077 | €8,999 | -€7,078 | -44.0% |
| Other amounts receivable | 41 | - | €24,992 | +€24,992 | |
| Cash at bank and in hand | 54/58 | €11,214 | €23,549 | +€12,335 | +110% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €190,577 | €211,538 | +€20,960 | +11.0% |
| Equity | 10/15 | -€56,148 | -€3,306 | +€52,842 | +94.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,148 | -€23,306 | +€52,842 | +69.4% |
| Amounts payable | 17/49 | €246,725 | €214,843 | -€31,882 | -12.9% |
| Amounts payable after more than one year | 17 | €200,451 | €186,447 | -€14,004 | -7.0% |
| Financial debts | 170/4 | €38,665 | €33,134 | -€5,531 | -14.3% |
| Other amounts payable | 178/9 | €161,786 | €153,313 | -€8,473 | -5.2% |
| Amounts payable within one year | 42/48 | €38,030 | €18,718 | -€19,312 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €15,610 | €5,531 | -€10,079 | -64.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €17,011 | €3,269 | -€13,742 | -80.8% |
| Suppliers | 440/4 | €17,011 | €3,269 | -€13,742 | -80.8% |
| Taxes, remuneration and social security | 45 | €4,095 | €8,603 | +€4,509 | +110% |
| Taxes | 450/3 | €4,095 | €8,603 | +€4,509 | +110% |
| Other amounts payable | 47/48 | €1,314 | €1,314 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,244 | €9,679 | +€1,434 | +17.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,586 | €41,432 | -€153 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,576 | €1,737 | +€161 | +10.2% |
| Gross operating margin | 9900 | €110,984 | €100,345 | -€10,639 | -9.6% |
| Operating profit (loss) | 9901 | €67,823 | €57,176 | -€10,647 | -15.7% |
| Financial income | 75/76B | €123 | €360 | +€238 | +194% |
| Recurring financial income | 75 | €123 | €360 | +€238 | +194% |
| Financial charges | 65/66B | €5,980 | €3,610 | -€2,370 | -39.6% |
| Recurring financial charges | 65 | €5,980 | €3,610 | -€2,370 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €61,965 | €53,926 | -€8,039 | -13.0% |
| Income taxes | 67/77 | - | €1,084 | +€1,084 | |
| Profit (loss) for the period | 9904 | €61,965 | €52,842 | -€9,123 | -14.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,965 | €52,842 | -€9,123 | -14.7% |
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 18 October 2026 via checked.be.