T & V THIENPOND: what changed
What changed
T & V THIENPOND
NACE 42.110, Construction of roads and motorways
filed annual accounts (NBB)
Net result for the year
€23,345
2024 · €29,881-€6,536
Equity
€318,589
2024 · €295,244+€23,345
Cash
€13,680
2024 · €10,746+€2,934
Balance sheet total
€1.1m
2024 · €1.1m-€80,870
Largest movements
Assets
- Tangible fixed assets -€90,640
down €90,640 (-9.0%), from €1.0m to €913,434
Equity and liabilities
- Other debts -€55,732
down €55,732 (-76.2%), from €73,151 to €17,419
- Debts after one year -€48,328
down €48,328 (-7.1%), from €676,630 to €628,302
- Reserves +€23,345
up €23,345 (+8.3%), from €282,844 to €306,189
Income statement
- Gross operating margin -€12,534
down €12,534 (-7.0%), from €178,623 to €166,088
- Depreciation -€4,156
down €4,156 (-4.2%), from €99,560 to €95,404
- Taxes -€3,600
down €3,600 (-24.1%), from €14,924 to €11,325
- Other operating charges +€2,302
up €2,302 (+39.0%), from €5,909 to €8,212
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€29,881
Gross operating margin
-€12,534
Depreciation
+€4,156
Other operating charges
-€2,302
Other operating items
+€85
Financial income
-€464
Financial charges
+€925
Taxes
+€3,600
Result 2025
€23,345
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€55,170
Investment
-€4,764
Financing
-€47,473
Cash 2024
€10,746
From operations (derived)
+€55,170
Net result for the year
+€23,345
Depreciation
+€95,404
Receivables within one year
-€7,393
Deferred charges and accrued income
+€557
Trade debts
-€4,285
Tax, wage and social debts
+€3,275
Other debts
-€55,732
Investment (derived)
-€4,764
Investment in fixed assets (net)
-€4,764
Financing
-€47,473
Debts after one year
-€48,328
Current portion of long-term debt
+€855
Cash 2025
€13,680
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,148,640 | €1,067,770 | -€80,870 | -7.0% |
| Fixed assets | 21/28 | €1,004,209 | €913,569 | -€90,640 | -9.0% |
| Tangible fixed assets | 22/27 | €1,004,074 | €913,434 | -€90,640 | -9.0% |
| Land and buildings | 22 | €776,640 | €745,104 | -€31,536 | -4.1% |
| Plant, machinery and equipment | 23 | €87,502 | €67,906 | -€19,595 | -22.4% |
| Furniture and vehicles | 24 | €14,930 | €11,103 | -€3,827 | -25.6% |
| Leasing and similar rights | 25 | €123,539 | €88,438 | -€35,101 | -28.4% |
| Other tangible fixed assets | 26 | €1,464 | €884 | -€580 | -39.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €144,431 | €154,201 | +€9,770 | +6.8% |
| Amounts receivable within one year | 40/41 | €131,844 | €139,238 | +€7,393 | +5.6% |
| Trade receivables | 40 | €105,411 | €125,314 | +€19,903 | +18.9% |
| Other amounts receivable | 41 | €26,433 | €13,924 | -€12,509 | -47.3% |
| Cash at bank and in hand | 54/58 | €10,746 | €13,680 | +€2,934 | +27.3% |
| Deferred charges and accrued income | 490/1 | €1,840 | €1,284 | -€557 | -30.2% |
| Total equity and liabilities | 10/49 | €1,148,640 | €1,067,770 | -€80,870 | -7.0% |
| Equity | 10/15 | €295,244 | €318,589 | +€23,345 | +7.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €282,844 | €306,189 | +€23,345 | +8.3% |
| Distributable reserves | 133 | €282,844 | €306,189 | +€23,345 | +8.3% |
| Amounts payable | 17/49 | €853,396 | €749,181 | -€104,215 | -12.2% |
| Amounts payable after more than one year | 17 | €676,630 | €628,302 | -€48,328 | -7.1% |
| Financial debts | 170/4 | €676,630 | €628,302 | -€48,328 | -7.1% |
| Amounts payable within one year | 42/48 | €176,766 | €120,879 | -€55,887 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €91,412 | €92,267 | +€855 | +0.9% |
| Trade debts | 44 | €10,380 | €6,094 | -€4,285 | -41.3% |
| Suppliers | 440/4 | €10,380 | €6,094 | -€4,285 | -41.3% |
| Taxes, remuneration and social security | 45 | €1,824 | €5,099 | +€3,275 | +180% |
| Taxes | 450/3 | €1,824 | €4,099 | +€2,275 | +125% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €73,151 | €17,419 | -€55,732 | -76.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,560 | €95,404 | -€4,156 | -4.2% |
| Other operating charges | 640/8 | €5,909 | €8,212 | +€2,302 | +39.0% |
| Non-recurring operating charges | 66A | €85 | - | -€85 | |
| Gross operating margin | 9900 | €178,623 | €166,088 | -€12,534 | -7.0% |
| Operating profit (loss) | 9901 | €73,068 | €62,473 | -€10,596 | -14.5% |
| Financial income | 75/76B | €593 | €128 | -€464 | -78.3% |
| Recurring financial income | 75 | €593 | €128 | -€464 | -78.3% |
| Financial charges | 65/66B | €28,856 | €27,932 | -€925 | -3.2% |
| Recurring financial charges | 65 | €28,856 | €27,932 | -€925 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €44,805 | €34,669 | -€10,135 | -22.6% |
| Income taxes | 67/77 | €14,924 | €11,325 | -€3,600 | -24.1% |
| Profit (loss) for the period | 9904 | €29,881 | €23,345 | -€6,536 | -21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,881 | €23,345 | -€6,536 | -21.9% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.