T&H Services: 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 Services
Largest movements
- Stocks and contracts +€32,726
up €32,726 (+12.5%), from €261,401 to €294,127
- Receivables within one year -€27,359
down €27,359 (-20.9%), from €130,793 to €103,434
of which Trade receivables: -€28,004
- Deferred charges and accrued income +€17,512
new in 2025: €17,512
- Tangible fixed assets -€11,892
down €11,892 (-3.0%), from €391,891 to €379,999
of which Land and buildings: -€10,270
- Current portion of long-term debt -€20,808
down €20,808 (-19.2%), from €108,269 to €87,461
- Advances received +€18,562
up €18,562 (+17.0%), from €109,155 to €127,717
- Tax, wage and social debts +€13,239
up €13,239 (+14.0%), from €94,450 to €107,689
of which Taxes: +€11,761
- Debts after one year -€8,666
down €8,666 (-2.2%), from €390,180 to €381,514
- Gross operating margin -€24,328
down €24,328 (-13.5%), from €180,866 to €156,539
- Taxes -€10,333
down €10,333 (-59.5%), from €17,375 to €7,042
- Staff costs +€7,643
up €7,643 (+8.6%), from €89,241 to €96,884
- Depreciation -€3,937
down €3,937 (-12.3%), from €31,990 to €28,052
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.
Derived cash bridge
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 | €790,921 | €796,721 | +€5,800 | +0.7% |
| Fixed assets | 21/28 | €392,386 | €380,495 | -€11,892 | -3.0% |
| Tangible fixed assets | 22/27 | €391,891 | €379,999 | -€11,892 | -3.0% |
| Land and buildings | 22 | €363,926 | €353,656 | -€10,270 | -2.8% |
| Plant, machinery and equipment | 23 | €8,474 | €6,920 | -€1,554 | -18.3% |
| Furniture and vehicles | 24 | €19,491 | €19,423 | -€68 | -0.3% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €398,535 | €416,227 | +€17,692 | +4.4% |
| Stocks and contracts in progress | 3 | €261,401 | €294,127 | +€32,726 | +12.5% |
| Stocks | 30/36 | €261,401 | €294,127 | +€32,726 | +12.5% |
| Amounts receivable within one year | 40/41 | €130,793 | €103,434 | -€27,359 | -20.9% |
| Trade receivables | 40 | €130,793 | €102,789 | -€28,004 | -21.4% |
| Other amounts receivable | 41 | - | €645 | +€645 | |
| Cash at bank and in hand | 54/58 | €6,340 | €1,154 | -€5,186 | -81.8% |
| Deferred charges and accrued income | 490/1 | - | €17,512 | +€17,512 | |
| Total equity and liabilities | 10/49 | €790,921 | €796,721 | +€5,800 | +0.7% |
| Equity | 10/15 | €29,496 | €37,227 | +€7,731 | +26.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,436 | €29,167 | +€7,731 | +36.1% |
| Amounts payable | 17/49 | €761,425 | €759,494 | -€1,931 | -0.3% |
| Amounts payable after more than one year | 17 | €390,180 | €381,514 | -€8,666 | -2.2% |
| Financial debts | 170/4 | €390,180 | €381,514 | -€8,666 | -2.2% |
| Amounts payable within one year | 42/48 | €371,245 | €377,981 | +€6,735 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €108,269 | €87,461 | -€20,808 | -19.2% |
| Financial debts | 43 | €24,999 | €24,999 | = | 0.0% |
| Credit institutions | 430/8 | €24,999 | €24,999 | = | 0.0% |
| Trade debts | 44 | €25,048 | €17,546 | -€7,502 | -29.9% |
| Suppliers | 440/4 | €25,048 | €17,546 | -€7,502 | -29.9% |
| Advances received on contracts in progress | 46 | €109,155 | €127,717 | +€18,562 | +17.0% |
| Taxes, remuneration and social security | 45 | €94,450 | €107,689 | +€13,239 | +14.0% |
| Taxes | 450/3 | €75,058 | €86,820 | +€11,761 | +15.7% |
| Remuneration and social security | 454/9 | €19,392 | €20,870 | +€1,477 | +7.6% |
| Other amounts payable | 47/48 | €9,324 | €12,568 | +€3,244 | +34.8% |
| Remuneration, social security and pensions | 62 | €89,241 | €96,884 | +€7,643 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,990 | €28,052 | -€3,937 | -12.3% |
| Other operating charges | 640/8 | €3,492 | €1,975 | -€1,517 | -43.4% |
| Gross operating margin | 9900 | €180,866 | €156,539 | -€24,328 | -13.5% |
| Operating profit (loss) | 9901 | €56,144 | €29,627 | -€26,516 | -47.2% |
| Financial income | 75/76B | €73 | €26 | -€47 | -64.8% |
| Recurring financial income | 75 | €73 | €26 | -€47 | -64.8% |
| Financial charges | 65/66B | €16,153 | €14,880 | -€1,273 | -7.9% |
| Recurring financial charges | 65 | €16,153 | €14,880 | -€1,273 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €40,064 | €14,773 | -€25,291 | -63.1% |
| Income taxes | 67/77 | €17,375 | €7,042 | -€10,333 | -59.5% |
| Profit (loss) for the period | 9904 | €22,689 | €7,731 | -€14,958 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €22,689 | €7,731 | -€14,958 | -65.9% |
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 28 October 2026 via checked.be.