TH-DOT: what changed
Two fiscal 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-DOT
Largest movements
- Cash +€26,047
new in 2025: €26,047
mainly Current investments (+€18,106) and Net result for the year (+€10,974)
- Current investments -€18,106
no longer reported in 2025 (was €18,106)
- Receivables within one year +€6,559
up €6,559 (+324.7%), from €2,020 to €8,579
of which Trade receivables: +€4,450
- Tangible fixed assets -€892
down €892 (-21.0%), from €4,255 to €3,363
- Reserves +€10,141
up €10,141 (+221.6%), from €4,576 to €14,717
- Tax, wage and social debts +€4,713
up €4,713 (+174.0%), from €2,709 to €7,423
- Trade debts -€1,612
down €1,612 (-11.1%), from €14,495 to €12,883
- Accrued charges and deferred income +€600
new in 2025: €600
- Gross operating margin +€8,008
up €8,008 (+76.9%), from €10,416 to €18,424
- Taxes +€2,519
up €2,519 (+90.4%), from €2,785 to €5,304
- Financial charges -€985
down €985 (-74.3%), from €1,327 to €341
- Depreciation +€684
up €684 (+329.4%), from €208 to €892
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.
Cash bridge derived
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 | €24,382 | €38,205 | +€13,823 | +56.7% |
| Fixed assets | 21/28 | €4,255 | €3,363 | -€892 | -21.0% |
| Tangible fixed assets | 22/27 | €4,255 | €3,363 | -€892 | -21.0% |
| Furniture and vehicles | 24 | €4,255 | €3,363 | -€892 | -21.0% |
| Current assets | 29/58 | €20,127 | €34,842 | +€14,716 | +73.1% |
| Amounts receivable within one year | 40/41 | €2,020 | €8,579 | +€6,559 | +324.7% |
| Trade receivables | 40 | €1,411 | €5,861 | +€4,450 | +315.5% |
| Other amounts receivable | 41 | €610 | €2,719 | +€2,109 | +346.0% |
| Current investments | 50/53 | €18,106 | - | -€18,106 | |
| Cash at bank and in hand | 54/58 | - | €26,047 | +€26,047 | |
| Deferred charges and accrued income | 490/1 | - | €216 | +€216 | |
| Total equity and liabilities | 10/49 | €24,382 | €38,205 | +€13,823 | +56.7% |
| Equity | 10/15 | €6,576 | €16,717 | +€10,141 | +154.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €4,576 | €14,717 | +€10,141 | +221.6% |
| Distributable reserves | 133 | €4,576 | €14,717 | +€10,141 | +221.6% |
| Amounts payable | 17/49 | €17,806 | €21,489 | +€3,683 | +20.7% |
| Amounts payable within one year | 42/48 | €17,806 | €20,889 | +€3,083 | +17.3% |
| Trade debts | 44 | €14,495 | €12,883 | -€1,612 | -11.1% |
| Suppliers | 440/4 | €14,495 | €12,883 | -€1,612 | -11.1% |
| Taxes, remuneration and social security | 45 | €2,709 | €7,423 | +€4,713 | +174.0% |
| Taxes | 450/3 | €2,709 | €7,423 | +€4,713 | +174.0% |
| Other amounts payable | 47/48 | €601 | €583 | -€18 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €600 | +€600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208 | €892 | +€684 | +329.4% |
| Other operating charges | 640/8 | €822 | €912 | +€90 | +11.0% |
| Gross operating margin | 9900 | €10,416 | €18,424 | +€8,008 | +76.9% |
| Operating profit (loss) | 9901 | €9,386 | €16,620 | +€7,234 | +77.1% |
| Financial income | 75/76B | €161 | - | -€161 | |
| Recurring financial income | 75 | €161 | - | -€161 | |
| Financial charges | 65/66B | €1,327 | €341 | -€985 | -74.3% |
| Recurring financial charges | 65 | €1,327 | €341 | -€985 | -74.3% |
| Profit (loss) for the period before taxes | 9903 | €8,220 | €16,278 | +€8,058 | +98.0% |
| Income taxes | 67/77 | €2,785 | €5,304 | +€2,519 | +90.4% |
| Profit (loss) for the period | 9904 | €5,435 | €10,974 | +€5,539 | +101.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,435 | €10,974 | +€5,539 | +101.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.