Th17: 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.
Th17
Largest movements
- Cash +€27,328
up €27,328 (+88.8%), from €30,786 to €58,113
mainly Receivables within one year (+€26,413) and Net result for the year (+€22,804)
- Receivables within one year -€26,413
down €26,413 (-57.8%), from €45,706 to €19,293
of which Trade receivables: -€19,832
- Tangible fixed assets -€21,342
down €21,342 (-8.7%), from €244,585 to €223,243
of which Land and buildings: -€11,208
- Debts after one year -€14,937
down €14,937 (-9.2%), from €162,534 to €147,597
- Current portion of long-term debt -€8,638
down €8,638 (-36.6%), from €23,575 to €14,937
- Tax, wage and social debts +€8,358
up €8,358 (+252.5%), from €3,310 to €11,668
of which Taxes: +€10,964
- Reserves -€7,196
down €7,196 (-9.5%), from €75,787 to €68,590
- Gross operating margin -€42,018
down €42,018 (-44.7%), from €94,066 to €52,048
- Depreciation -€5,247
down €5,247 (-23.7%), from €22,144 to €16,897
- Taxes -€4,958
down €4,958 (-36.1%), from €13,732 to €8,774
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 | €322,642 | €301,068 | -€21,574 | -6.7% |
| Fixed assets | 21/28 | €244,585 | €223,243 | -€21,342 | -8.7% |
| Tangible fixed assets | 22/27 | €244,585 | €223,243 | -€21,342 | -8.7% |
| Land and buildings | 22 | €231,678 | €220,469 | -€11,208 | -4.8% |
| Furniture and vehicles | 24 | €12,907 | €2,773 | -€10,134 | -78.5% |
| Current assets | 29/58 | €78,057 | €77,825 | -€232 | -0.3% |
| Amounts receivable within one year | 40/41 | €45,706 | €19,293 | -€26,413 | -57.8% |
| Trade receivables | 40 | €23,835 | €4,004 | -€19,832 | -83.2% |
| Other amounts receivable | 41 | €21,871 | €15,289 | -€6,582 | -30.1% |
| Cash at bank and in hand | 54/58 | €30,786 | €58,113 | +€27,328 | +88.8% |
| Deferred charges and accrued income | 490/1 | €1,566 | €419 | -€1,147 | -73.2% |
| Total equity and liabilities | 10/49 | €322,642 | €301,068 | -€21,574 | -6.7% |
| Equity | 10/15 | €94,337 | €87,140 | -€7,196 | -7.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €75,787 | €68,590 | -€7,196 | -9.5% |
| Distributable reserves | 133 | €75,787 | €68,590 | -€7,196 | -9.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €228,306 | €213,928 | -€14,378 | -6.3% |
| Amounts payable after more than one year | 17 | €162,534 | €147,597 | -€14,937 | -9.2% |
| Financial debts | 170/4 | €162,534 | €147,597 | -€14,937 | -9.2% |
| Amounts payable within one year | 42/48 | €65,643 | €66,252 | +€609 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €23,575 | €14,937 | -€8,638 | -36.6% |
| Financial debts | 43 | €130 | €0 | -€130 | -100.0% |
| Other loans | 439 | €130 | €0 | -€130 | -100.0% |
| Trade debts | 44 | €8,628 | €9,647 | +€1,019 | +11.8% |
| Suppliers | 440/4 | €8,628 | €9,647 | +€1,019 | +11.8% |
| Taxes, remuneration and social security | 45 | €3,310 | €11,668 | +€8,358 | +252.5% |
| Taxes | 450/3 | €704 | €11,668 | +€10,964 | +1556.8% |
| Remuneration and social security | 454/9 | €2,606 | €0 | -€2,606 | -100.0% |
| Other amounts payable | 47/48 | €30,000 | €30,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €129 | €79 | -€51 | -39.1% |
| Non-recurring operating income | 76A | - | €7,008 | +€7,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,144 | €16,897 | -€5,247 | -23.7% |
| Other operating charges | 640/8 | €1,798 | €1,805 | +€7 | +0.4% |
| Gross operating margin | 9900 | €94,066 | €52,048 | -€42,018 | -44.7% |
| Operating profit (loss) | 9901 | €70,123 | €33,346 | -€36,778 | -52.4% |
| Financial income | 75/76B | €142 | €864 | +€721 | +507.5% |
| Recurring financial income | 75 | €142 | €864 | +€721 | +507.5% |
| Financial charges | 65/66B | €2,922 | €2,632 | -€290 | -9.9% |
| Recurring financial charges | 65 | €2,922 | €2,632 | -€290 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €67,343 | €31,578 | -€35,766 | -53.1% |
| Income taxes | 67/77 | €13,732 | €8,774 | -€4,958 | -36.1% |
| Profit (loss) for the period | 9904 | €53,611 | €22,804 | -€30,808 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €53,611 | €22,804 | -€30,808 | -57.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.