T.H.L.: 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.L.
Largest movements
- Tangible fixed assets +€31,185
new in 2026: €31,185
- Receivables within one year +€9,192
new in 2026: €9,192
of which Trade receivables: +€4,689
- Cash +€5,250
up €5,250 (+375%), from €1,399 to €6,649
mainly Other debts (+€38,000) and Net result for the year (+€7,709)
- Other debts +€38,000
up €38,000 (+527%), from €7,215 to €45,215
- Profit (loss) carried forward +€7,710
up €7,710 (+28.9%), from -€26,642 to -€18,932
- Gross operating margin +€6,097
up €6,097 (+253%), from €2,413 to €8,510
- Depreciation +€224
new in 2026: €224
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 | €1,399 | €47,026 | +€45,627 | +3,262% |
| Fixed assets | 21/28 | - | €31,185 | +€31,185 | |
| Tangible fixed assets | 22/27 | - | €31,185 | +€31,185 | |
| Furniture and vehicles | 24 | - | €31,185 | +€31,185 | |
| Current assets | 29/58 | €1,399 | €15,841 | +€14,442 | +1,033% |
| Amounts receivable within one year | 40/41 | - | €9,192 | +€9,192 | |
| Trade receivables | 40 | - | €4,689 | +€4,689 | |
| Other amounts receivable | 41 | - | €4,503 | +€4,503 | |
| Cash at bank and in hand | 54/58 | €1,399 | €6,649 | +€5,250 | +375% |
| Total equity and liabilities | 10/49 | €1,399 | €47,026 | +€45,627 | +3,262% |
| Equity | 10/15 | -€6,190 | €1,519 | +€7,709 | |
| Contributions | 10/11 | €18,592 | €18,592 | -€0 | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€26,642 | -€18,932 | +€7,710 | +28.9% |
| Amounts payable | 17/49 | €7,589 | €45,507 | +€37,918 | +500% |
| Amounts payable within one year | 42/48 | €7,589 | €45,507 | +€37,918 | +500% |
| Trade debts | 44 | €292 | €292 | +€0 | 0.0% |
| Suppliers | 440/4 | €292 | €292 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €82 | - | -€82 | |
| Taxes | 450/3 | €82 | - | -€82 | |
| Other amounts payable | 47/48 | €7,215 | €45,215 | +€38,000 | +527% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €224 | +€224 | |
| Other operating charges | 640/8 | €570 | €520 | -€50 | -8.8% |
| Gross operating margin | 9900 | €2,413 | €8,510 | +€6,097 | +253% |
| Operating profit (loss) | 9901 | €1,843 | €7,766 | +€5,923 | +321% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €140 | €57 | -€83 | -59.4% |
| Recurring financial charges | 65 | €140 | €57 | -€83 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | €1,703 | €7,709 | +€6,006 | +353% |
| Profit (loss) for the period | 9904 | €1,703 | €7,709 | +€6,006 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €1,703 | €7,709 | +€6,006 | +353% |
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 21 October 2026 via checked.be.