T'Hooft: 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'Hooft
Largest movements
- Cash +€305,565
up €305,565 (+86.4%), from €353,571 to €659,137
mainly Other debts (+€653,692) and Net result for the year (+€310,819)
- Stocks and contracts +€110,000
up €110,000 (+122%), from €90,000 to €200,000
- Receivables after one year -€106,000
down €106,000 (-73.9%), from €143,500 to €37,500
- Current investments -€48,075
down €48,075 (-6.5%), from €740,068 to €691,992
- Tangible fixed assets +€36,769
up €36,769 (+21.1%), from €174,307 to €211,076
of which Furniture and vehicles: +€64,865
- Other debts +€653,692
up €653,692 (+2,825%), from €23,143 to €676,835
- Reserves -€466,256
down €466,256 (-43.0%), from €1.1m to €618,319
- Tax, wage and social debts +€93,733
up €93,733 (+138%), from €67,921 to €161,654
of which Taxes: +€85,374
- Trade debts +€40,268
up €40,268 (+697%), from €5,776 to €46,045
- Gross operating margin +€173,010
up €173,010 (+44.6%), from €387,931 to €560,941
- Taxes +€60,014
up €60,014 (+77.5%), from €77,406 to €137,421
- Staff costs -€29,207
down €29,207 (-32.1%), from €90,958 to €61,751
- Financial income +€23,317
up €23,317 (+157%), from €14,809 to €38,126
- Other operating charges +€16,114
up €16,114 (+102%), from €15,777 to €31,891
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 | €1,621,119 | €1,919,899 | +€298,780 | +18.4% |
| Fixed assets | 21/28 | €178,307 | €212,576 | +€34,269 | +19.2% |
| Tangible fixed assets | 22/27 | €174,307 | €211,076 | +€36,769 | +21.1% |
| Land and buildings | 22 | €142,559 | €114,398 | -€28,161 | -19.8% |
| Plant, machinery and equipment | 23 | €7,879 | €7,943 | +€64 | +0.8% |
| Furniture and vehicles | 24 | €23,870 | €88,736 | +€64,865 | +272% |
| Financial fixed assets | 28 | €4,000 | €1,500 | -€2,500 | -62.5% |
| Current assets | 29/58 | €1,442,811 | €1,707,323 | +€264,511 | +18.3% |
| Amounts receivable after more than one year | 29 | €143,500 | €37,500 | -€106,000 | -73.9% |
| Other amounts receivable | 291 | €143,500 | €37,500 | -€106,000 | -73.9% |
| Stocks and contracts in progress | 3 | €90,000 | €200,000 | +€110,000 | +122% |
| Stocks | 30/36 | €90,000 | €200,000 | +€110,000 | +122% |
| Amounts receivable within one year | 40/41 | €104,384 | €118,397 | +€14,013 | +13.4% |
| Trade receivables | 40 | €87,984 | €115,762 | +€27,779 | +31.6% |
| Other amounts receivable | 41 | €16,401 | €2,635 | -€13,765 | -83.9% |
| Current investments | 50/53 | €740,068 | €691,992 | -€48,075 | -6.5% |
| Cash at bank and in hand | 54/58 | €353,571 | €659,137 | +€305,565 | +86.4% |
| Deferred charges and accrued income | 490/1 | €11,288 | €296 | -€10,992 | -97.4% |
| Total equity and liabilities | 10/49 | €1,621,119 | €1,919,899 | +€298,780 | +18.4% |
| Equity | 10/15 | €1,438,324 | €972,068 | -€466,256 | -32.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,084,575 | €618,319 | -€466,256 | -43.0% |
| Distributable reserves | 133 | €1,084,575 | €618,319 | -€466,256 | -43.0% |
| Profit (loss) carried forward | 14 | €335,149 | €335,149 | = | 0.0% |
| Provisions and deferred taxes | 16 | €53,948 | €53,948 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €53,948 | €53,948 | = | 0.0% |
| Pensions and similar obligations | 160 | €53,948 | €53,948 | = | 0.0% |
| Amounts payable | 17/49 | €128,847 | €893,883 | +€765,036 | +594% |
| Amounts payable after more than one year | 17 | €8,352 | €646 | -€7,706 | -92.3% |
| Financial debts | 170/4 | €8,352 | €646 | -€7,706 | -92.3% |
| Amounts payable within one year | 42/48 | €115,539 | €892,239 | +€776,700 | +672% |
| Current portion of amounts payable after more than one year | 42 | €7,624 | €7,706 | +€83 | +1.1% |
| Trade debts | 44 | €5,776 | €46,045 | +€40,268 | +697% |
| Suppliers | 440/4 | €5,776 | €46,045 | +€40,268 | +697% |
| Advances received on contracts in progress | 46 | €11,075 | €0 | -€11,075 | -100% |
| Taxes, remuneration and social security | 45 | €67,921 | €161,654 | +€93,733 | +138% |
| Taxes | 450/3 | €60,868 | €146,242 | +€85,374 | +140% |
| Remuneration and social security | 454/9 | €7,053 | €15,412 | +€8,359 | +119% |
| Other amounts payable | 47/48 | €23,143 | €676,835 | +€653,692 | +2,825% |
| Accrued charges and deferred income | 492/3 | €4,956 | €998 | -€3,958 | -79.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €90,958 | €61,751 | -€29,207 | -32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,653 | €53,576 | +€4,923 | +10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €15,777 | €31,891 | +€16,114 | +102% |
| Gross operating margin | 9900 | €387,931 | €560,941 | +€173,010 | +44.6% |
| Operating profit (loss) | 9901 | €232,543 | €413,723 | +€181,179 | +77.9% |
| Financial income | 75/76B | €14,809 | €38,126 | +€23,317 | +157% |
| Recurring financial income | 75 | €14,809 | €38,126 | +€23,317 | +157% |
| Financial charges | 65/66B | €10,536 | €3,609 | -€6,927 | -65.7% |
| Recurring financial charges | 65 | €10,536 | €3,609 | -€6,927 | -65.7% |
| Profit (loss) for the period before taxes | 9903 | €236,816 | €448,239 | +€211,423 | +89.3% |
| Income taxes | 67/77 | €77,406 | €137,421 | +€60,014 | +77.5% |
| Profit (loss) for the period | 9904 | €159,410 | €310,819 | +€151,409 | +95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €159,410 | €310,819 | +€151,409 | +95.0% |
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 25 October 2026 via checked.be.