T.H.C.: 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.
T.H.C.
Largest movements
- Cash +€45,728
up €45,728 (+647.5%), from €7,063 to €52,790
mainly Net result for the year (+€53,154) and Depreciation (+€14,434)
- Receivables within one year +€12,500
up €12,500 (+20.5%), from €61,000 to €73,500
- Tangible fixed assets -€4,374
down €4,374 (-3.4%), from €127,043 to €122,668
of which Land and buildings: -€3,980
- Reserves +€53,154
up €53,154 (+30.6%), from €173,513 to €226,667
of which Distributable reserves: +€53,154
- Gross operating margin +€47,658
up €47,658 (+161.9%), from €29,437 to €77,095
- Taxes +€3,793
new in 2025: €3,793
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 | €195,105 | €248,959 | +€53,854 | +27.6% |
| Fixed assets | 21/28 | €127,043 | €122,668 | -€4,374 | -3.4% |
| Tangible fixed assets | 22/27 | €127,043 | €122,668 | -€4,374 | -3.4% |
| Land and buildings | 22 | €126,649 | €122,668 | -€3,980 | -3.1% |
| Furniture and vehicles | 24 | €394 | - | -€394 | |
| Current assets | 29/58 | €68,063 | €126,290 | +€58,228 | +85.6% |
| Amounts receivable within one year | 40/41 | €61,000 | €73,500 | +€12,500 | +20.5% |
| Other amounts receivable | 41 | €61,000 | €73,500 | +€12,500 | +20.5% |
| Cash at bank and in hand | 54/58 | €7,063 | €52,790 | +€45,728 | +647.5% |
| Total equity and liabilities | 10/49 | €195,105 | €248,959 | +€53,854 | +27.6% |
| Equity | 10/15 | €192,105 | €245,259 | +€53,154 | +27.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €173,513 | €226,667 | +€53,154 | +30.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €171,654 | €224,807 | +€53,154 | +31.0% |
| Amounts payable | 17/49 | €3,000 | €3,700 | +€700 | +23.3% |
| Amounts payable after more than one year | 17 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 178/9 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | - | €700 | +€700 | |
| Trade debts | 44 | - | €700 | +€700 | |
| Suppliers | 440/4 | - | €700 | +€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,266 | €14,434 | +€168 | +1.2% |
| Other operating charges | 640/8 | €5,272 | €5,459 | +€187 | +3.6% |
| Gross operating margin | 9900 | €29,437 | €77,095 | +€47,658 | +161.9% |
| Operating profit (loss) | 9901 | €9,899 | €57,202 | +€47,303 | +477.9% |
| Financial charges | 65/66B | €238 | €255 | +€17 | +7.1% |
| Recurring financial charges | 65 | €238 | €255 | +€17 | +7.1% |
| Profit (loss) for the period before taxes | 9903 | €9,661 | €56,947 | +€47,286 | +489.5% |
| Income taxes | 67/77 | - | €3,793 | +€3,793 | |
| Profit (loss) for the period | 9904 | €9,661 | €53,154 | +€43,493 | +450.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,661 | €53,154 | +€43,493 | +450.2% |
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 11 October 2026 via checked.be.