TH Insurance: 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 Insurance
Largest movements
- Receivables within one year +€267,279
up €267,279 (+34.1%), from €782,934 to €1.1m
of which Other amounts receivable: +€267,279
- Intangible fixed assets -€14,135
down €14,135 (-28.1%), from €50,249 to €36,113
- Reserves +€135,000
up €135,000 (+56.3%), from €240,000 to €375,000
of which Distributable reserves: +€135,000
- Other debts +€82,622
up €82,622 (+19.8%), from €417,378 to €500,000
- Tax, wage and social debts +€21,568
up €21,568 (+18.5%), from €116,581 to €138,150
of which Taxes: +€14,412
- Turnover +€284,599
up €284,599 (+22.2%), from €1.3m to €1.6m
- Staff costs +€59,087
up €59,087 (+10.8%), from €547,550 to €606,637
- Services and other goods +€54,186
up €54,186 (+38.8%), from €139,604 to €193,790
- Taxes +€49,249
up €49,249 (+29.2%), from €168,498 to €217,746
of which Taxes: +€49,071
- Financial income +€37,924
up €37,924 (+143%), from €26,444 to €64,368
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 | €891,596 | €1,130,036 | +€238,439 | +26.7% |
| Fixed assets | 21/28 | €55,066 | €39,458 | -€15,608 | -28.3% |
| Intangible fixed assets | 21 | €50,249 | €36,113 | -€14,135 | -28.1% |
| Tangible fixed assets | 22/27 | €4,817 | €3,345 | -€1,473 | -30.6% |
| Furniture and vehicles | 24 | €4,817 | €3,345 | -€1,473 | -30.6% |
| Current assets | 29/58 | €836,530 | €1,090,578 | +€254,047 | +30.4% |
| Amounts receivable within one year | 40/41 | €782,934 | €1,050,213 | +€267,279 | +34.1% |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €782,934 | €1,050,213 | +€267,279 | +34.1% |
| Cash at bank and in hand | 54/58 | €49,259 | €40,364 | -€8,895 | -18.1% |
| Deferred charges and accrued income | 490/1 | €4,337 | - | -€4,337 | |
| Total equity and liabilities | 10/49 | €891,596 | €1,130,036 | +€238,439 | +26.7% |
| Equity | 10/15 | €341,390 | €476,842 | +€135,452 | +39.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €240,000 | €375,000 | +€135,000 | +56.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €230,000 | €365,000 | +€135,000 | +58.7% |
| Profit (loss) carried forward | 14 | €1,390 | €1,842 | +€452 | +32.5% |
| Amounts payable | 17/49 | €550,206 | €653,194 | +€102,988 | +18.7% |
| Amounts payable within one year | 42/48 | €550,206 | €653,194 | +€102,988 | +18.7% |
| Trade debts | 44 | €16,248 | €15,044 | -€1,203 | -7.4% |
| Suppliers | 440/4 | €16,248 | €15,044 | -€1,203 | -7.4% |
| Taxes, remuneration and social security | 45 | €116,581 | €138,150 | +€21,568 | +18.5% |
| Taxes | 450/3 | €39,708 | €54,120 | +€14,412 | +36.3% |
| Remuneration and social security | 454/9 | €76,873 | €84,030 | +€7,157 | +9.3% |
| Other amounts payable | 47/48 | €417,378 | €500,000 | +€82,622 | +19.8% |
| Operating income | 70/76A | €1,333,898 | €1,621,133 | +€287,235 | +21.5% |
| Turnover | 70 | €1,282,022 | €1,566,621 | +€284,599 | +22.2% |
| Other operating income | 74 | €51,876 | €54,512 | +€2,636 | +5.1% |
| Operating charges | 60/66A | €704,846 | €820,762 | +€115,915 | +16.4% |
| Services and other goods | 61 | €139,604 | €193,790 | +€54,186 | +38.8% |
| Remuneration, social security and pensions | 62 | €547,550 | €606,637 | +€59,087 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,492 | €15,608 | +€116 | +0.8% |
| Other operating charges | 640/8 | €2,201 | €4,727 | +€2,525 | +115% |
| Operating profit (loss) | 9901 | €629,051 | €800,371 | +€171,320 | +27.2% |
| Financial income | 75/76B | €26,444 | €64,368 | +€37,924 | +143% |
| Recurring financial income | 75 | €26,444 | €64,368 | +€37,924 | +143% |
| Income from current assets | 751 | €26,444 | €3,311 | -€23,133 | -87.5% |
| Other financial income | 752/9 | - | €61,057 | +€61,057 | |
| Financial charges | 65/66B | €2,721 | €11,541 | +€8,820 | +324% |
| Recurring financial charges | 65 | €2,721 | €11,541 | +€8,820 | +324% |
| Other financial charges | 652/9 | €2,721 | €11,541 | +€8,820 | +324% |
| Profit (loss) for the period before taxes | 9903 | €652,774 | €853,198 | +€200,424 | +30.7% |
| Income taxes | 67/77 | €168,498 | €217,746 | +€49,249 | +29.2% |
| Taxes | 670/3 | €169,432 | €218,503 | +€49,071 | +29.0% |
| Tax adjustments and reversals of tax provisions | 77 | €934 | €756 | -€177 | -19.0% |
| Profit (loss) for the period | 9904 | €484,276 | €635,452 | +€151,175 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €484,276 | €635,452 | +€151,175 | +31.2% |
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 26 October 2026 via checked.be.