SRL THIERRY HODEIGE: 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.
SRL THIERRY HODEIGE
Largest movements
- Cash -€10,034
down €10,034 (-12.3%), from €81,874 to €71,840
mainly Other debts (-€28,000) and Tax, wage and social debts (-€12,621)
- Tangible fixed assets -€7,909
down €7,909 (-70.7%), from €11,183 to €3,274
of which Furniture and vehicles: -€5,385
- Stocks and contracts -€6,676
down €6,676 (-69.1%), from €9,666 to €2,990
- Receivables within one year -€6,250
down €6,250 (-43.8%), from €14,261 to €8,011
of which Trade receivables: -€9,835
- Other debts -€28,000
no longer reported in 2025 (was €28,000)
- Tax, wage and social debts -€12,621
no longer reported in 2025 (was €12,621)
of which Taxes: -€12,000
- Reserves +€9,520
up €9,520 (+17.8%), from €53,570 to €63,090
of which Distributable reserves: +€9,520
- Trade debts +€3,813
up €3,813 (+335%), from €1,139 to €4,952
- Current portion of long-term debt -€2,525
down €2,525 (-66.4%), from €3,804 to €1,278
- Purchases and services -€59,155
down €59,155 (-23.1%), from €255,908 to €196,752
- Staff costs -€45,724
down €45,724 (-97.3%), from €47,009 to €1,284
- Gross operating margin -€40,451
down €40,451 (-69.7%), from €58,024 to €17,574
- Financial income -€1,886
down €1,886 (-54.1%), from €3,483 to €1,597
of which Financial income: -€1,926
- Depreciation -€1,883
down €1,883 (-22.9%), from €8,240 to €6,357
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 | €119,012 | €87,920 | -€31,092 | -26.1% |
| Fixed assets | 21/28 | €11,183 | €3,274 | -€7,909 | -70.7% |
| Tangible fixed assets | 22/27 | €11,183 | €3,274 | -€7,909 | -70.7% |
| Plant, machinery and equipment | 23 | €4,468 | €1,944 | -€2,524 | -56.5% |
| Furniture and vehicles | 24 | €6,715 | €1,330 | -€5,385 | -80.2% |
| Current assets | 29/58 | €107,829 | €84,646 | -€23,183 | -21.5% |
| Stocks and contracts in progress | 3 | €9,666 | €2,990 | -€6,676 | -69.1% |
| Stocks | 30/36 | €9,666 | €2,990 | -€6,676 | -69.1% |
| Amounts receivable within one year | 40/41 | €14,261 | €8,011 | -€6,250 | -43.8% |
| Trade receivables | 40 | €10,402 | €566 | -€9,835 | -94.6% |
| Other amounts receivable | 41 | €3,860 | €7,445 | +€3,585 | +92.9% |
| Cash at bank and in hand | 54/58 | €81,874 | €71,840 | -€10,034 | -12.3% |
| Deferred charges and accrued income | 490/1 | €2,028 | €1,805 | -€223 | -11.0% |
| Total equity and liabilities | 10/49 | €119,012 | €87,920 | -€31,092 | -26.1% |
| Equity | 10/15 | €72,170 | €81,690 | +€9,520 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,570 | €63,090 | +€9,520 | +17.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €51,711 | €61,230 | +€9,520 | +18.4% |
| Amounts payable | 17/49 | €46,842 | €6,230 | -€40,612 | -86.7% |
| Amounts payable after more than one year | 17 | €1,278 | - | -€1,278 | |
| Financial debts | 170/4 | €1,278 | - | -€1,278 | |
| Amounts payable within one year | 42/48 | €45,564 | €6,230 | -€39,333 | -86.3% |
| Current portion of amounts payable after more than one year | 42 | €3,804 | €1,278 | -€2,525 | -66.4% |
| Trade debts | 44 | €1,139 | €4,952 | +€3,813 | +335% |
| Suppliers | 440/4 | €1,139 | €4,952 | +€3,813 | +335% |
| Taxes, remuneration and social security | 45 | €12,621 | - | -€12,621 | |
| Taxes | 450/3 | €12,000 | - | -€12,000 | |
| Remuneration and social security | 454/9 | €621 | - | -€621 | |
| Other amounts payable | 47/48 | €28,000 | - | -€28,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €255,908 | €196,752 | -€59,155 | -23.1% |
| Remuneration, social security and pensions | 62 | €47,009 | €1,284 | -€45,724 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,240 | €6,357 | -€1,883 | -22.9% |
| Other operating charges | 640/8 | €430 | - | -€430 | |
| Gross operating margin | 9900 | €58,024 | €17,574 | -€40,451 | -69.7% |
| Operating profit (loss) | 9901 | €2,345 | €9,932 | +€7,587 | +323% |
| Financial income | 75/76B | €3,483 | €1,597 | -€1,886 | -54.1% |
| Recurring financial income | 75 | €3,483 | €1,557 | -€1,926 | -55.3% |
| Non-recurring financial income | 76B | - | €40 | +€40 | |
| Financial charges | 65/66B | €199 | €87 | -€112 | -56.1% |
| Recurring financial charges | 65 | €199 | €87 | -€112 | -56.1% |
| Profit (loss) for the period before taxes | 9903 | €5,629 | €11,442 | +€5,813 | +103% |
| Income taxes | 67/77 | €1,009 | €1,922 | +€913 | +90.5% |
| Profit (loss) for the period | 9904 | €4,620 | €9,520 | +€4,899 | +106% |
| Profit (loss) for the period to be appropriated | 9905 | €4,620 | €9,520 | +€4,899 | +106% |
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 30 October 2026 via checked.be.