T.H.M.: 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.M.
Largest movements
- Receivables within one year -€1,903
down €1,903 (-99.7%), from €1,909 to €5
of which Trade receivables: -€1,909
- Tangible fixed assets +€1,803
new in 2025: €1,803
- Cash -€1,713
down €1,713 (-96.0%), from €1,784 to €71
- Deferred charges and accrued income -€102
down €102 (-22.9%), from €443 to €342
- Other debts -€2,597
down €2,597 (-75.3%), from €3,447 to €850
- Profit (loss) carried forward +€825
up €825 (+1.2%), from -€68,150 to -€67,325
- Tax, wage and social debts -€89
down €89 (-16.5%), from €542 to €452
- Trade debts -€53
down €53 (-54.2%), from €97 to €45
- Taxes -€4,766
down €4,766 (-97.8%), from €4,872 to €106
- Depreciation -€1,792
down €1,792 (-85.4%), from €2,099 to €306
- Gross operating margin -€1,139
down €1,139 (-43.2%), from €2,638 to €1,499
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,136 | €2,222 | -€1,915 | -46.3% |
| Fixed assets | 21/28 | - | €1,803 | +€1,803 | |
| Tangible fixed assets | 22/27 | - | €1,803 | +€1,803 | |
| Furniture and vehicles | 24 | - | €1,803 | +€1,803 | |
| Current assets | 29/58 | €4,136 | €418 | -€3,718 | -89.9% |
| Amounts receivable within one year | 40/41 | €1,909 | €5 | -€1,903 | -99.7% |
| Trade receivables | 40 | €1,909 | - | -€1,909 | |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €1,784 | €71 | -€1,713 | -96.0% |
| Deferred charges and accrued income | 490/1 | €443 | €342 | -€102 | -22.9% |
| Total equity and liabilities | 10/49 | €4,136 | €2,222 | -€1,915 | -46.3% |
| Equity | 10/15 | €50 | €875 | +€825 | +1,662% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,150 | -€67,325 | +€825 | +1.2% |
| Amounts payable | 17/49 | €4,087 | €1,347 | -€2,740 | -67.0% |
| Amounts payable within one year | 42/48 | €4,087 | €1,347 | -€2,740 | -67.0% |
| Trade debts | 44 | €97 | €45 | -€53 | -54.2% |
| Suppliers | 440/4 | €97 | €45 | -€53 | -54.2% |
| Taxes, remuneration and social security | 45 | €542 | €452 | -€89 | -16.5% |
| Taxes | 450/3 | €542 | €452 | -€89 | -16.5% |
| Other amounts payable | 47/48 | €3,447 | €850 | -€2,597 | -75.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,099 | €306 | -€1,792 | -85.4% |
| Other operating charges | 640/8 | €214 | €237 | +€23 | +10.6% |
| Gross operating margin | 9900 | €2,638 | €1,499 | -€1,139 | -43.2% |
| Operating profit (loss) | 9901 | €324 | €955 | +€630 | +194% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €300 | €931 | +€631 | +210% |
| Income taxes | 67/77 | €4,872 | €106 | -€4,766 | -97.8% |
| Profit (loss) for the period | 9904 | -€4,571 | €825 | +€5,396 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,571 | €825 | +€5,396 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.