THAANN ENGINEERING: 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.
THAANN ENGINEERING
Largest movements
- Tangible fixed assets +€242,363
up €242,363 (+10.4%), from €2.3m to €2.6m
of which Land and buildings: +€321,457
- Deferred charges and accrued income +€159,325
up €159,325 (+779%), from €20,450 to €179,775
- Cash -€109,554
down €109,554 (-20.1%), from €545,515 to €435,960
mainly Investment in fixed assets (net) (-€543,275) and Deferred charges and accrued income (-€159,325)
- Financial fixed assets +€87,500
new in 2025: €87,500
- Debts after one year +€282,418
up €282,418 (+31.2%), from €904,620 to €1.2m
- Reserves +€79,409
up €79,409 (+4.6%), from €1.7m to €1.8m
of which Non-distributable reserves: +€79,409
- Trade debts +€39,323
up €39,323 (+45.6%), from €86,188 to €125,512
- Gross operating margin -€291,889
down €291,889 (-30.9%), from €945,508 to €653,619
- Staff costs -€20,643
down €20,643 (-12.9%), from €160,154 to €139,511
- Other operating charges +€15,764
up €15,764 (+58.4%), from €26,987 to €42,751
- Taxes +€11,502
up €11,502 (+18.7%), from €61,642 to €73,144
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 | €3,088,659 | €3,486,205 | +€397,547 | +12.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €2,323,930 | €2,653,793 | +€329,863 | +14.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €2,323,930 | €2,566,293 | +€242,363 | +10.4% |
| Land and buildings | 22 | €1,877,842 | €2,199,298 | +€321,457 | +17.1% |
| Plant, machinery and equipment | 23 | €226,872 | €168,287 | -€58,585 | -25.8% |
| Furniture and vehicles | 24 | €149,454 | €153,316 | +€3,862 | +2.6% |
| Leasing and similar rights | 25 | €69,762 | €45,392 | -€24,370 | -34.9% |
| Financial fixed assets | 28 | - | €87,500 | +€87,500 | |
| Current assets | 29/58 | €764,729 | €832,412 | +€67,683 | +8.9% |
| Amounts receivable within one year | 40/41 | €198,764 | €216,676 | +€17,912 | +9.0% |
| Trade receivables | 40 | €121,370 | €136,383 | +€15,014 | +12.4% |
| Other amounts receivable | 41 | €77,395 | €80,293 | +€2,899 | +3.7% |
| Cash at bank and in hand | 54/58 | €545,515 | €435,960 | -€109,554 | -20.1% |
| Deferred charges and accrued income | 490/1 | €20,450 | €179,775 | +€159,325 | +779% |
| Total equity and liabilities | 10/49 | €3,088,659 | €3,486,205 | +€397,547 | +12.9% |
| Equity | 10/15 | €1,827,574 | €1,906,985 | +€79,411 | +4.3% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €1,717,253 | €1,796,662 | +€79,409 | +4.6% |
| Non-distributable reserves | 130/1 | €891,551 | €970,960 | +€79,409 | +8.9% |
| Reserves not available under the articles | 1311 | €891,551 | €970,960 | +€79,409 | +8.9% |
| Tax-exempt reserves | 132 | €825,702 | €825,702 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,721 | €16,723 | +€2 | 0.0% |
| Amounts payable | 17/49 | €1,261,085 | €1,579,221 | +€318,136 | +25.2% |
| Amounts payable after more than one year | 17 | €904,620 | €1,187,039 | +€282,418 | +31.2% |
| Financial debts | 170/4 | €904,620 | €1,187,039 | +€282,418 | +31.2% |
| Amounts payable within one year | 42/48 | €356,464 | €392,182 | +€35,718 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €228,097 | €231,200 | +€3,103 | +1.4% |
| Financial debts | 43 | €5 | - | -€5 | |
| Credit institutions | 430/8 | €5 | - | -€5 | |
| Trade debts | 44 | €86,188 | €125,512 | +€39,323 | +45.6% |
| Suppliers | 440/4 | €86,188 | €125,512 | +€39,323 | +45.6% |
| Advances received on contracts in progress | 46 | €1,409 | €61 | -€1,348 | -95.7% |
| Taxes, remuneration and social security | 45 | €40,766 | €35,309 | -€5,456 | -13.4% |
| Taxes | 450/3 | €17,837 | €23,079 | +€5,242 | +29.4% |
| Remuneration and social security | 454/9 | €22,929 | €12,230 | -€10,699 | -46.7% |
| Other amounts payable | 47/48 | - | €100 | +€100 | |
| Non-recurring operating income | 76A | €18,641 | €9,000 | -€9,641 | -51.7% |
| Remuneration, social security and pensions | 62 | €160,154 | €139,511 | -€20,643 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €221,098 | €213,411 | -€7,687 | -3.5% |
| Other operating charges | 640/8 | €26,987 | €42,751 | +€15,764 | +58.4% |
| Non-recurring operating charges | 66A | - | €24,425 | +€24,425 | |
| Gross operating margin | 9900 | €945,508 | €653,619 | -€291,889 | -30.9% |
| Operating profit (loss) | 9901 | €537,270 | €233,522 | -€303,748 | -56.5% |
| Financial income | 75/76B | €4,630 | €3,005 | -€1,625 | -35.1% |
| Recurring financial income | 75 | €4,630 | €3,005 | -€1,625 | -35.1% |
| Financial charges | 65/66B | €31,238 | €39,426 | +€8,188 | +26.2% |
| Recurring financial charges | 65 | €23,032 | €39,426 | +€16,394 | +71.2% |
| Non-recurring financial charges | 66B | €8,206 | - | -€8,206 | |
| Profit (loss) for the period before taxes | 9903 | €510,662 | €197,100 | -€313,562 | -61.4% |
| Income taxes | 67/77 | €61,642 | €73,144 | +€11,502 | +18.7% |
| Profit (loss) for the period | 9904 | €449,021 | €123,956 | -€325,065 | -72.4% |
| Transfer from tax-exempt reserves | 789 | €28,612 | - | -€28,612 | |
| Transfer to tax-exempt reserves | 689 | €354,114 | - | -€354,114 | |
| Profit (loss) for the period to be appropriated | 9905 | €123,519 | €123,956 | +€437 | +0.4% |
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 30 October 2026 via checked.be.