TH PHONE: 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 PHONE
Largest movements
- Cash -€25,071
down €25,071 (-62.0%), from €40,435 to €15,364
mainly Trade debts (-€32,230) and Stocks and contracts (-€11,687)
- Receivables within one year -€18,107
down €18,107 (-26.7%), from €67,906 to €49,799
of which Trade receivables: -€11,248
- Stocks and contracts +€11,687
up €11,687 (+30.7%), from €38,017 to €49,704
- Trade debts -€32,230
down €32,230 (-76.2%), from €42,269 to €10,040
- Profit (loss) carried forward +€7,388
up €7,388 (+11.2%), from €66,131 to €73,519
- Tax, wage and social debts -€6,648
down €6,648 (-34.6%), from €19,237 to €12,589
of which Remuneration and social security: -€7,789
- Staff costs +€7,506
up €7,506 (+12.3%), from €61,114 to €68,620
- Depreciation -€6,000
no longer reported in 2025 (was €6,000)
- Other operating charges -€4,662
down €4,662 (-58.2%), from €8,004 to €3,342
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 | €146,417 | €114,927 | -€31,490 | -21.5% |
| Fixed assets | 21/28 | €60 | €60 | = | 0.0% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €146,357 | €114,867 | -€31,490 | -21.5% |
| Stocks and contracts in progress | 3 | €38,017 | €49,704 | +€11,687 | +30.7% |
| Stocks | 30/36 | €38,017 | €49,704 | +€11,687 | +30.7% |
| Amounts receivable within one year | 40/41 | €67,906 | €49,799 | -€18,107 | -26.7% |
| Trade receivables | 40 | €17,140 | €5,893 | -€11,248 | -65.6% |
| Other amounts receivable | 41 | €50,766 | €43,907 | -€6,859 | -13.5% |
| Cash at bank and in hand | 54/58 | €40,435 | €15,364 | -€25,071 | -62.0% |
| Total equity and liabilities | 10/49 | €146,417 | €114,927 | -€31,490 | -21.5% |
| Equity | 10/15 | €84,911 | €92,298 | +€7,388 | +8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €180 | €180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €180 | €180 | = | 0.0% |
| Reserves not available under the articles | 1311 | €180 | €180 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,131 | €73,519 | +€7,388 | +11.2% |
| Amounts payable | 17/49 | €61,507 | €22,629 | -€38,878 | -63.2% |
| Amounts payable within one year | 42/48 | €61,507 | €22,629 | -€38,878 | -63.2% |
| Trade debts | 44 | €42,269 | €10,040 | -€32,230 | -76.2% |
| Suppliers | 440/4 | €42,269 | €10,040 | -€32,230 | -76.2% |
| Taxes, remuneration and social security | 45 | €19,237 | €12,589 | -€6,648 | -34.6% |
| Taxes | 450/3 | €3,491 | €4,632 | +€1,141 | +32.7% |
| Remuneration and social security | 454/9 | €15,746 | €7,957 | -€7,789 | -49.5% |
| Non-recurring operating income | 76A | - | €33,868 | +€33,868 | |
| Remuneration, social security and pensions | 62 | €61,114 | €68,620 | +€7,506 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | - | -€6,000 | |
| Other operating charges | 640/8 | €8,004 | €3,342 | -€4,662 | -58.2% |
| Gross operating margin | 9900 | €84,880 | €85,281 | +€400 | +0.5% |
| Operating profit (loss) | 9901 | €9,762 | €13,319 | +€3,557 | +36.4% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €3,213 | €3,148 | -€65 | -2.0% |
| Recurring financial charges | 65 | €3,213 | €3,148 | -€65 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €6,549 | €10,176 | +€3,626 | +55.4% |
| Income taxes | 67/77 | €2,137 | €2,788 | +€651 | +30.5% |
| Profit (loss) for the period | 9904 | €4,413 | €7,388 | +€2,975 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,413 | €7,388 | +€2,975 | +67.4% |
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 20 October 2026 via checked.be.