T.H.I.: 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.I.
Largest movements
- Deferred charges and accrued income -€56,443
down €56,443 (-93.2%), from €60,561 to €4,118
- Receivables within one year -€11,948
down €11,948 (-1.9%), from €629,603 to €617,655
- Other debts -€85,105
down €85,105 (-15.7%), from €541,677 to €456,572
- Profit (loss) carried forward +€17,850
up €17,850 (+9.1%), from -€196,346 to -€178,496
- Gross operating margin -€521
down €521 (-9.1%), from -€5,741 to -€6,262
- Financial income -€138
down €138 (-0.6%), from €24,703 to €24,565
- Other operating charges -€95
down €95 (-18.7%), from €508 to €413
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,215 | €622,959 | -€67,256 | -9.7% |
| Current assets | 29/58 | €690,215 | €622,959 | -€67,256 | -9.7% |
| Amounts receivable within one year | 40/41 | €629,603 | €617,655 | -€11,948 | -1.9% |
| Other amounts receivable | 41 | €629,603 | €617,655 | -€11,948 | -1.9% |
| Cash at bank and in hand | 54/58 | €51 | €1,187 | +€1,136 | +2,239% |
| Deferred charges and accrued income | 490/1 | €60,561 | €4,118 | -€56,443 | -93.2% |
| Total equity and liabilities | 10/49 | €690,215 | €622,959 | -€67,256 | -9.7% |
| Equity | 10/15 | -€177,701 | -€159,851 | +€17,850 | +10.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45 | €45 | = | 0.0% |
| Distributable reserves | 133 | €45 | €45 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,346 | -€178,496 | +€17,850 | +9.1% |
| Amounts payable | 17/49 | €867,916 | €782,811 | -€85,105 | -9.8% |
| Amounts payable after more than one year | 17 | €325,000 | €325,000 | = | 0.0% |
| Financial debts | 170/4 | €325,000 | €325,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €542,916 | €457,811 | -€85,105 | -15.7% |
| Trade debts | 44 | €1,239 | €1,239 | = | 0.0% |
| Suppliers | 440/4 | €1,239 | €1,239 | = | 0.0% |
| Other amounts payable | 47/48 | €541,677 | €456,572 | -€85,105 | -15.7% |
| Other operating charges | 640/8 | €508 | €413 | -€95 | -18.7% |
| Gross operating margin | 9900 | -€5,741 | -€6,262 | -€521 | -9.1% |
| Operating profit (loss) | 9901 | -€6,249 | -€6,675 | -€426 | -6.8% |
| Financial income | 75/76B | €24,703 | €24,565 | -€138 | -0.6% |
| Recurring financial income | 75 | €24,703 | €24,565 | -€138 | -0.6% |
| Financial charges | 65/66B | €30 | €41 | +€11 | +35.1% |
| Recurring financial charges | 65 | €30 | €41 | +€11 | +35.1% |
| Profit (loss) for the period before taxes | 9903 | €18,424 | €17,850 | -€575 | -3.1% |
| Profit (loss) for the period | 9904 | €18,424 | €17,850 | -€575 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,424 | €17,850 | -€575 | -3.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.