STEVEN THUILLIER: 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.
STEVEN THUILLIER
Largest movements
- Receivables within one year -€177,840
down €177,840 (-50.9%), from €349,641 to €171,801
of which Trade receivables: -€167,280
- Deferred charges and accrued income -€5,905
no longer reported in 2024 (was €5,905)
- Debts after one year -€133,265
down €133,265 (-93.5%), from €142,482 to €9,217
- Short-term financial debts -€46,587
no longer reported in 2024 (was €46,587)
- Trade debts -€42,563
no longer reported in 2024 (was €42,563)
- Other debts +€26,231
up €26,231 (+77.7%), from €33,762 to €59,993
- Current portion of long-term debt +€17,708
new in 2024: €17,708
- Gross operating margin -€44,876
down €44,876 (-58.8%), from €76,354 to €31,478
- Write-downs +€26,950
new in 2024: €26,950
- Depreciation -€22,887
no longer reported in 2024 (was €22,887)
- Staff costs -€14,782
down €14,782 (-98.7%), from €14,980 to €198
- Taxes -€6,400
no longer reported in 2024 (was €6,400)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €392,516 | €209,638 | -€182,878 | -46.6% |
| Fixed assets | 21/28 | €21,257 | €21,257 | = | 0.0% |
| Tangible fixed assets | 22/27 | €20,042 | €20,042 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,559 | €3,559 | = | 0.0% |
| Furniture and vehicles | 24 | €13,042 | €13,042 | = | 0.0% |
| Leasing and similar rights | 25 | €3,442 | €3,442 | = | 0.0% |
| Financial fixed assets | 28 | €1,215 | €1,215 | = | 0.0% |
| Current assets | 29/58 | €371,259 | €188,381 | -€182,878 | -49.3% |
| Stocks and contracts in progress | 3 | €10,000 | €10,000 | = | 0.0% |
| Stocks | 30/36 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €349,641 | €171,801 | -€177,840 | -50.9% |
| Trade receivables | 40 | €336,256 | €168,975 | -€167,280 | -49.7% |
| Other amounts receivable | 41 | €13,386 | €2,826 | -€10,560 | -78.9% |
| Cash at bank and in hand | 54/58 | €5,712 | €6,580 | +€868 | +15.2% |
| Deferred charges and accrued income | 490/1 | €5,905 | - | -€5,905 | |
| Total equity and liabilities | 10/49 | €392,516 | €209,638 | -€182,878 | -46.6% |
| Equity | 10/15 | €119,295 | €114,893 | -€4,402 | -3.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €109,295 | €109,295 | = | 0.0% |
| Distributable reserves | 133 | €109,295 | €109,295 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,402 | -€4,402 | |
| Amounts payable | 17/49 | €273,221 | €94,745 | -€178,476 | -65.3% |
| Amounts payable after more than one year | 17 | €142,482 | €9,217 | -€133,265 | -93.5% |
| Financial debts | 170/4 | €142,482 | €9,217 | -€133,265 | -93.5% |
| Amounts payable within one year | 42/48 | €130,739 | €85,529 | -€45,210 | -34.6% |
| Current portion of amounts payable after more than one year | 42 | - | €17,708 | +€17,708 | |
| Financial debts | 43 | €46,587 | - | -€46,587 | |
| Credit institutions | 430/8 | €46,587 | - | -€46,587 | |
| Trade debts | 44 | €42,563 | - | -€42,563 | |
| Suppliers | 440/4 | €42,563 | - | -€42,563 | |
| Taxes, remuneration and social security | 45 | €7,827 | €7,827 | = | 0.0% |
| Taxes | 450/3 | €7,827 | €7,827 | = | 0.0% |
| Other amounts payable | 47/48 | €33,762 | €59,993 | +€26,231 | +77.7% |
| Remuneration, social security and pensions | 62 | €14,980 | €198 | -€14,782 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,887 | - | -€22,887 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €26,950 | +€26,950 | |
| Other operating charges | 640/8 | €5,177 | €2,628 | -€2,549 | -49.2% |
| Gross operating margin | 9900 | €76,354 | €31,478 | -€44,876 | -58.8% |
| Operating profit (loss) | 9901 | €33,310 | €1,702 | -€31,609 | -94.9% |
| Financial income | 75/76B | €185 | €1 | -€185 | -99.6% |
| Recurring financial income | 75 | €185 | €1 | -€185 | -99.6% |
| Financial charges | 65/66B | €5,778 | €6,105 | +€327 | +5.7% |
| Recurring financial charges | 65 | €5,778 | €6,105 | +€327 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €27,718 | -€4,402 | -€32,120 | |
| Income taxes | 67/77 | €6,400 | - | -€6,400 | |
| Profit (loss) for the period | 9904 | €21,318 | -€4,402 | -€25,721 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,318 | -€4,402 | -€25,721 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.