TH. DORTU: 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.
TH. DORTU
Largest movements
- Tangible fixed assets +€39,658
new in 2025: €39,658
of which Furniture and vehicles: +€39,658
- Receivables within one year +€9,654
up €9,654 (+127%), from €7,600 to €17,255
of which Trade receivables: +€6,000
- Cash +€1,288
new in 2025: €1,288
mainly Accrued charges and deferred income (+€18,228) and Debts after one year (+€17,582)
- Accrued charges and deferred income +€18,228
new in 2025: €18,228
- Debts after one year +€17,582
new in 2025: €17,582
- Profit (loss) carried forward +€8,909
up €8,909, from -€6,124 to €2,785
- Current portion of long-term debt +€7,224
new in 2025: €7,224
- Trade debts -€695
down €695 (-15.9%), from €4,377 to €3,682
- Gross operating margin +€20,849
up €20,849 (+13,899%), from €150 to €20,999
- Depreciation +€10,313
up €10,313 (+34,735%), from €30 to €10,342
- Financial charges +€1,214
up €1,214 (+547%), from €222 to €1,436
- Other operating charges +€226
up €226 (+46.5%), from €487 to €714
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 | €7,600 | €58,200 | +€50,600 | +666% |
| Fixed assets | 21/28 | - | €39,658 | +€39,658 | |
| Tangible fixed assets | 22/27 | - | €39,658 | +€39,658 | |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €39,658 | +€39,658 | |
| Current assets | 29/58 | €7,600 | €18,543 | +€10,943 | +144% |
| Amounts receivable within one year | 40/41 | €7,600 | €17,255 | +€9,654 | +127% |
| Trade receivables | 40 | - | €6,000 | +€6,000 | |
| Other amounts receivable | 41 | €7,600 | €11,255 | +€3,654 | +48.1% |
| Cash at bank and in hand | 54/58 | - | €1,288 | +€1,288 | |
| Total equity and liabilities | 10/49 | €7,600 | €58,200 | +€50,600 | +666% |
| Equity | 10/15 | €2,576 | €11,485 | +€8,909 | +346% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €1,200 | €1,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,200 | €1,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,124 | €2,785 | +€8,909 | |
| Amounts payable | 17/49 | €5,024 | €46,715 | +€41,691 | +830% |
| Amounts payable after more than one year | 17 | - | €17,582 | +€17,582 | |
| Financial debts | 170/4 | - | €17,582 | +€17,582 | |
| Amounts payable within one year | 42/48 | €5,024 | €10,906 | +€5,881 | +117% |
| Current portion of amounts payable after more than one year | 42 | - | €7,224 | +€7,224 | |
| Financial debts | 43 | €647 | - | -€647 | |
| Credit institutions | 430/8 | €647 | - | -€647 | |
| Trade debts | 44 | €4,377 | €3,682 | -€695 | -15.9% |
| Suppliers | 440/4 | €4,377 | €3,682 | -€695 | -15.9% |
| Accrued charges and deferred income | 492/3 | - | €18,228 | +€18,228 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30 | €10,342 | +€10,313 | +34,735% |
| Other operating charges | 640/8 | €487 | €714 | +€226 | +46.5% |
| Gross operating margin | 9900 | €150 | €20,999 | +€20,849 | +13,899% |
| Operating profit (loss) | 9901 | -€367 | €9,943 | +€10,310 | |
| Financial income | 75/76B | €454 | €402 | -€52 | -11.5% |
| Recurring financial income | 75 | €454 | €402 | -€52 | -11.5% |
| Financial charges | 65/66B | €222 | €1,436 | +€1,214 | +547% |
| Recurring financial charges | 65 | €222 | €1,436 | +€1,214 | +547% |
| Profit (loss) for the period before taxes | 9903 | -€135 | €8,909 | +€9,044 | |
| Profit (loss) for the period | 9904 | -€135 | €8,909 | +€9,044 | |
| Profit (loss) for the period to be appropriated | 9905 | -€135 | €8,909 | +€9,044 |
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 14 October 2026 via checked.be.