THADA: what changed
THADA
Largest movements
- Cash +€82,111
up €82,111 (+115%), from €71,160 to €153,271
mainly Net result for the year (+€71,813) and Tax, wage and social debts (+€6,341)
- Deferred charges and accrued income +€4,331
up €4,331 (+77.1%), from €5,614 to €9,944
- Receivables within one year -€2,707
no longer reported in 2025 (was €2,707)
- Profit (loss) carried forward +€71,813
up €71,813 (+120%), from €59,857 to €131,670
- Tax, wage and social debts +€6,341
up €6,341 (+38.2%), from €16,582 to €22,923
- Other debts +€4,800
new in 2025: €4,800
- Gross operating margin +€12,278
up €12,278 (+15.1%), from €81,261 to €93,539
- Taxes +€3,359
up €3,359 (+20.3%), from €16,582 to €19,941
- Depreciation -€3,193
down €3,193 (-72.5%), from €4,402 to €1,209
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,606 | €165,223 | +€83,617 | +102% |
| Fixed assets | 21/28 | €2,125 | €2,007 | -€117 | -5.5% |
| Tangible fixed assets | 22/27 | €2,125 | €2,007 | -€117 | -5.5% |
| Plant, machinery and equipment | 23 | €2,125 | €951 | -€1,174 | -55.3% |
| Furniture and vehicles | 24 | - | €1,057 | +€1,057 | |
| Current assets | 29/58 | €79,481 | €163,216 | +€83,734 | +105% |
| Amounts receivable within one year | 40/41 | €2,707 | - | -€2,707 | |
| Other amounts receivable | 41 | €2,707 | - | -€2,707 | |
| Cash at bank and in hand | 54/58 | €71,160 | €153,271 | +€82,111 | +115% |
| Deferred charges and accrued income | 490/1 | €5,614 | €9,944 | +€4,331 | +77.1% |
| Total equity and liabilities | 10/49 | €81,606 | €165,223 | +€83,617 | +102% |
| Equity | 10/15 | €63,357 | €135,170 | +€71,813 | +113% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,857 | €131,670 | +€71,813 | +120% |
| Amounts payable | 17/49 | €18,249 | €30,053 | +€11,804 | +64.7% |
| Amounts payable within one year | 42/48 | €16,582 | €27,722 | +€11,140 | +67.2% |
| Taxes, remuneration and social security | 45 | €16,582 | €22,923 | +€6,341 | +38.2% |
| Taxes | 450/3 | €16,582 | €22,923 | +€6,341 | +38.2% |
| Other amounts payable | 47/48 | - | €4,800 | +€4,800 | |
| Accrued charges and deferred income | 492/3 | €1,667 | €2,331 | +€664 | +39.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,402 | €1,209 | -€3,193 | -72.5% |
| Other operating charges | 640/8 | €387 | €470 | +€82 | +21.3% |
| Gross operating margin | 9900 | €81,261 | €93,539 | +€12,278 | +15.1% |
| Operating profit (loss) | 9901 | €76,472 | €91,860 | +€15,388 | +20.1% |
| Financial income | 75/76B | €85 | €75 | -€9 | -10.9% |
| Recurring financial income | 75 | €85 | €75 | -€9 | -10.9% |
| Financial charges | 65/66B | €118 | €181 | +€64 | +54.3% |
| Recurring financial charges | 65 | €118 | €181 | +€64 | +54.3% |
| Profit (loss) for the period before taxes | 9903 | €76,439 | €91,754 | +€15,315 | +20.0% |
| Income taxes | 67/77 | €16,582 | €19,941 | +€3,359 | +20.3% |
| Profit (loss) for the period | 9904 | €59,857 | €71,813 | +€11,957 | +20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,857 | €71,813 | +€11,957 | +20.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.