T.H. SURVEY: 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. SURVEY
Largest movements
- Tangible fixed assets -€12,995
down €12,995 (-5.6%), from €233,842 to €220,847
- Cash +€9,949
up €9,949 (+16.4%), from €60,569 to €70,518
mainly Depreciation (+€12,995) and Receivables within one year (+€4,161)
- Receivables within one year -€4,161
down €4,161 (-79.1%), from €5,263 to €1,102
of which Other amounts receivable: -€2,945
- Trade debts -€5,949
down €5,949 (-74.8%), from €7,953 to €2,004
- Profit (loss) carried forward +€3,304
up €3,304 (+2.6%), from €127,344 to €130,648
- Gross operating margin -€5,030
down €5,030 (-16.1%), from €31,298 to €26,269
- Taxes -€1,444
down €1,444 (-54.0%), from €2,673 to €1,229
- Other operating charges +€324
up €324 (+3.1%), from €10,321 to €10,645
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 | €299,674 | €292,467 | -€7,208 | -2.4% |
| Fixed assets | 21/28 | €233,842 | €220,847 | -€12,995 | -5.6% |
| Tangible fixed assets | 22/27 | €233,842 | €220,847 | -€12,995 | -5.6% |
| Land and buildings | 22 | €233,842 | €220,847 | -€12,995 | -5.6% |
| Current assets | 29/58 | €65,832 | €71,620 | +€5,788 | +8.8% |
| Amounts receivable within one year | 40/41 | €5,263 | €1,102 | -€4,161 | -79.1% |
| Trade receivables | 40 | €2,318 | €1,102 | -€1,217 | -52.5% |
| Other amounts receivable | 41 | €2,945 | €0 | -€2,945 | -100% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,569 | €70,518 | +€9,949 | +16.4% |
| Total equity and liabilities | 10/49 | €299,674 | €292,467 | -€7,208 | -2.4% |
| Equity | 10/15 | €264,554 | €265,541 | +€987 | +0.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €87,210 | €84,893 | -€2,317 | -2.7% |
| Tax-exempt reserves | 132 | €39,804 | €37,487 | -€2,317 | -5.8% |
| Distributable reserves | 133 | €47,406 | €47,406 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,344 | €130,648 | +€3,304 | +2.6% |
| Provisions and deferred taxes | 16 | €23,012 | €22,240 | -€772 | -3.4% |
| Deferred taxes | 168 | €23,012 | €22,240 | -€772 | -3.4% |
| Amounts payable | 17/49 | €12,108 | €4,686 | -€7,422 | -61.3% |
| Amounts payable after more than one year | 17 | €1,200 | €1,200 | = | 0.0% |
| Other amounts payable | 178/9 | €1,200 | €1,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,655 | €3,233 | -€7,422 | -69.7% |
| Trade debts | 44 | €7,953 | €2,004 | -€5,949 | -74.8% |
| Suppliers | 440/4 | €7,953 | €2,004 | -€5,949 | -74.8% |
| Taxes, remuneration and social security | 45 | €2,702 | €1,229 | -€1,473 | -54.5% |
| Taxes | 450/3 | €2,702 | €1,229 | -€1,473 | -54.5% |
| Accrued charges and deferred income | 492/3 | €253 | €253 | +€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,995 | €12,995 | = | 0.0% |
| Other operating charges | 640/8 | €10,321 | €10,645 | +€324 | +3.1% |
| Gross operating margin | 9900 | €31,298 | €26,269 | -€5,030 | -16.1% |
| Operating profit (loss) | 9901 | €7,982 | €2,628 | -€5,353 | -67.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,251 | €1,185 | -€66 | -5.3% |
| Recurring financial charges | 65 | €1,251 | €1,185 | -€66 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €6,731 | €1,444 | -€5,288 | -78.6% |
| Transfer from deferred taxes | 780 | €772 | €772 | = | 0.0% |
| Income taxes | 67/77 | €2,673 | €1,229 | -€1,444 | -54.0% |
| Profit (loss) for the period | 9904 | €4,831 | €987 | -€3,844 | -79.6% |
| Transfer from tax-exempt reserves | 789 | €2,317 | €2,317 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,148 | €3,304 | -€3,844 | -53.8% |
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.