TH-Technics: 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-Technics
Largest movements
- Deferred charges and accrued income +€751,345
up €751,345 (+3470.9%), from €21,647 to €772,992
- Receivables within one year -€584,626
down €584,626 (-18.4%), from €3.2m to €2.6m
of which Other amounts receivable: -€412,499
- Tangible fixed assets -€274,828
down €274,828 (-12.5%), from €2.2m to €1.9m
of which Leasing and similar rights: -€196,458
- Financial fixed assets +€78,696
up €78,696 (+100.4%), from €78,395 to €157,091
- Cash +€66,099
up €66,099 (+62.1%), from €106,425 to €172,524
mainly Net result for the year (+€773,772) and Depreciation (+€678,082)
- Profit (loss) carried forward +€420,831
up €420,831 (+58.3%), from €721,672 to €1.1m
- Other debts -€260,000
down €260,000 (-44.7%), from €581,691 to €321,691
- Tax, wage and social debts -€209,890
down €209,890 (-44.9%), from €467,720 to €257,831
of which Taxes: -€215,700
- Debts after one year -€155,166
down €155,166 (-13.4%), from €1.2m to €1.0m
- Trade debts +€149,370
up €149,370 (+11.4%), from €1.3m to €1.5m
- Gross operating margin +€1.8m
up €1.8m (+35.3%), from €5.0m to €6.7m
- Staff costs +€1.6m
up €1.6m (+45.9%), from €3.6m to €5.2m
- Taxes -€511,028
down €511,028, from €308,258 to -€202,770
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 | €5,582,296 | €5,618,983 | +€36,687 | +0.7% |
| Fixed assets | 21/28 | €2,277,953 | €2,081,822 | -€196,132 | -8.6% |
| Tangible fixed assets | 22/27 | €2,199,558 | €1,924,730 | -€274,828 | -12.5% |
| Land and buildings | 22 | €542,997 | €517,037 | -€25,960 | -4.8% |
| Plant, machinery and equipment | 23 | €143,721 | €136,759 | -€6,962 | -4.8% |
| Furniture and vehicles | 24 | €119,587 | €85,881 | -€33,707 | -28.2% |
| Leasing and similar rights | 25 | €1,295,672 | €1,099,215 | -€196,458 | -15.2% |
| Other tangible fixed assets | 26 | €97,581 | €85,839 | -€11,742 | -12.0% |
| Financial fixed assets | 28 | €78,395 | €157,091 | +€78,696 | +100.4% |
| Current assets | 29/58 | €3,304,342 | €3,537,161 | +€232,819 | +7.0% |
| Amounts receivable within one year | 40/41 | €3,176,270 | €2,591,645 | -€584,626 | -18.4% |
| Trade receivables | 40 | €2,303,054 | €2,130,927 | -€172,127 | -7.5% |
| Other amounts receivable | 41 | €873,216 | €460,717 | -€412,499 | -47.2% |
| Cash at bank and in hand | 54/58 | €106,425 | €172,524 | +€66,099 | +62.1% |
| Deferred charges and accrued income | 490/1 | €21,647 | €772,992 | +€751,345 | +3470.9% |
| Total equity and liabilities | 10/49 | €5,582,296 | €5,618,983 | +€36,687 | +0.7% |
| Equity | 10/15 | €742,198 | €1,163,030 | +€420,831 | +56.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,926 | €1,926 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €66 | €66 | = | 0.0% |
| Profit (loss) carried forward | 14 | €721,672 | €1,142,504 | +€420,831 | +58.3% |
| Amounts payable | 17/49 | €4,840,097 | €4,455,953 | -€384,144 | -7.9% |
| Amounts payable after more than one year | 17 | €1,157,960 | €1,002,794 | -€155,166 | -13.4% |
| Financial debts | 170/4 | €1,157,960 | €1,002,794 | -€155,166 | -13.4% |
| Amounts payable within one year | 42/48 | €3,682,138 | €3,358,482 | -€323,656 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €497,336 | €494,199 | -€3,137 | -0.6% |
| Financial debts | 43 | €825,000 | €825,000 | = | 0.0% |
| Other loans | 439 | €825,000 | €825,000 | = | 0.0% |
| Trade debts | 44 | €1,310,390 | €1,459,761 | +€149,370 | +11.4% |
| Suppliers | 440/4 | €1,310,390 | €1,459,761 | +€149,370 | +11.4% |
| Taxes, remuneration and social security | 45 | €467,720 | €257,831 | -€209,890 | -44.9% |
| Taxes | 450/3 | €449,361 | €233,661 | -€215,700 | -48.0% |
| Remuneration and social security | 454/9 | €18,359 | €24,170 | +€5,810 | +31.6% |
| Other amounts payable | 47/48 | €581,691 | €321,691 | -€260,000 | -44.7% |
| Accrued charges and deferred income | 492/3 | - | €94,677 | +€94,677 | |
| Non-recurring operating income | 76A | €26,683 | €81,713 | +€55,031 | +206.2% |
| Remuneration, social security and pensions | 62 | €3,574,427 | €5,215,623 | +€1.6m | +45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €633,766 | €678,082 | +€44,316 | +7.0% |
| Other operating charges | 640/8 | €49,793 | €51,544 | +€1,751 | +3.5% |
| Non-recurring operating charges | 66A | €5,938 | - | -€5,938 | |
| Gross operating margin | 9900 | €4,974,676 | €6,730,629 | +€1.8m | +35.3% |
| Operating profit (loss) | 9901 | €710,752 | €785,380 | +€74,628 | +10.5% |
| Financial income | 75/76B | €983 | €4,207 | +€3,225 | +328.2% |
| Recurring financial income | 75 | €983 | €1,309 | +€326 | +33.2% |
| Non-recurring financial income | 76B | - | €2,898 | +€2,898 | |
| Financial charges | 65/66B | €156,551 | €218,585 | +€62,034 | +39.6% |
| Recurring financial charges | 65 | €156,551 | €218,585 | +€62,034 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €555,184 | €571,003 | +€15,819 | +2.8% |
| Income taxes | 67/77 | €308,258 | -€202,770 | -€511,028 | |
| Profit (loss) for the period | 9904 | €246,926 | €773,772 | +€526,846 | +213.4% |
| Profit (loss) for the period to be appropriated | 9905 | €246,926 | €773,772 | +€526,846 | +213.4% |
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 30 September 2026 via checked.be.