THA: 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.
THA
Largest movements
- Cash -€52,786
no longer reported in 2025 (was €52,786)
mainly Tax, wage and social debts (-€47,248) and Net result for the year (-€18,223)
- Stocks and contracts -€19,229
no longer reported in 2025 (was €19,229)
- Tangible fixed assets -€10,911
down €10,911 (-34.1%), from €31,979 to €21,068
of which Plant, machinery and equipment: -€10,570
- Tax, wage and social debts -€47,248
down €47,248 (-80.7%), from €58,514 to €11,266
of which Remuneration and social security: -€27,849
- Profit (loss) carried forward -€18,223
down €18,223 (-90.8%), from €20,069 to €1,846
- Other debts -€16,345
down €16,345 (-94.8%), from €17,236 to €891
- Trade debts -€1,444
no longer reported in 2025 (was €1,444)
- Gross operating margin -€129,359
down €129,359, from €125,000 to -€4,359
- Staff costs -€107,949
down €107,949 (-99.7%), from €108,285 to €335
- Depreciation -€7,358
down €7,358 (-93.0%), from €7,911 to €553
- Taxes -€2,300
no longer reported in 2025 (was €2,300)
- Other operating charges -€1,301
no longer reported in 2025 (was €1,301)
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 | €107,264 | €24,338 | -€82,925 | -77.3% |
| Fixed assets | 21/28 | €35,249 | €24,338 | -€10,911 | -31.0% |
| Tangible fixed assets | 22/27 | €31,979 | €21,068 | -€10,911 | -34.1% |
| Plant, machinery and equipment | 23 | €10,570 | - | -€10,570 | |
| Furniture and vehicles | 24 | €1,825 | €1,485 | -€340 | -18.6% |
| Other tangible fixed assets | 26 | €19,583 | €19,583 | = | 0.0% |
| Financial fixed assets | 28 | €3,270 | €3,270 | = | 0.0% |
| Current assets | 29/58 | €72,015 | - | -€72,015 | |
| Stocks and contracts in progress | 3 | €19,229 | - | -€19,229 | |
| Stocks | 30/36 | €19,229 | - | -€19,229 | |
| Cash at bank and in hand | 54/58 | €52,786 | - | -€52,786 | |
| Total equity and liabilities | 10/49 | €107,264 | €24,338 | -€82,925 | -77.3% |
| Equity | 10/15 | €30,069 | €11,846 | -€18,223 | -60.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,069 | €1,846 | -€18,223 | -90.8% |
| Amounts payable | 17/49 | €77,194 | €12,492 | -€64,702 | -83.8% |
| Amounts payable within one year | 42/48 | €77,194 | €12,492 | -€64,702 | -83.8% |
| Financial debts | 43 | - | €335 | +€335 | |
| Credit institutions | 430/8 | - | €335 | +€335 | |
| Trade debts | 44 | €1,444 | - | -€1,444 | |
| Suppliers | 440/4 | €1,444 | - | -€1,444 | |
| Taxes, remuneration and social security | 45 | €58,514 | €11,266 | -€47,248 | -80.7% |
| Taxes | 450/3 | €19,417 | €17 | -€19,400 | -99.9% |
| Remuneration and social security | 454/9 | €39,097 | €11,249 | -€27,849 | -71.2% |
| Other amounts payable | 47/48 | €17,236 | €891 | -€16,345 | -94.8% |
| Remuneration, social security and pensions | 62 | €108,285 | €335 | -€107,949 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,911 | €553 | -€7,358 | -93.0% |
| Other operating charges | 640/8 | €1,301 | - | -€1,301 | |
| Non-recurring operating charges | 66A | - | €12,396 | +€12,396 | |
| Gross operating margin | 9900 | €125,000 | -€4,359 | -€129,359 | |
| Operating profit (loss) | 9901 | €7,504 | -€17,643 | -€25,147 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,095 | €580 | -€515 | -47.1% |
| Recurring financial charges | 65 | €1,095 | €580 | -€515 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €6,409 | -€18,223 | -€24,632 | |
| Income taxes | 67/77 | €2,300 | - | -€2,300 | |
| Profit (loss) for the period | 9904 | €4,109 | -€18,223 | -€22,332 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,109 | -€18,223 | -€22,332 |
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 5 October 2026 via checked.be.