Thadassim: 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.
Thadassim
Largest movements
- Receivables after one year +€35,000
up €35,000 (+233.3%), from €15,000 to €50,000
- Tangible fixed assets -€22,598
down €22,598 (-10.8%), from €209,254 to €186,656
of which Land and buildings: -€14,122
- Cash +€19,446
up €19,446 (+413.0%), from €4,708 to €24,154
mainly Other debts (+€93,424) and Net result for the year (+€47,016)
- Current investments +€13,000
up €13,000 (+14.8%), from €88,000 to €101,000
- Receivables within one year -€11,383
down €11,383 (-73.5%), from €15,483 to €4,099
of which Trade receivables: -€15,476
- Other debts +€93,424
up €93,424 (+5928.3%), from €1,576 to €95,000
- Profit (loss) carried forward -€47,984
down €47,984 (-98.3%), from €48,820 to €837
- Debts after one year -€18,284
down €18,284 (-10.7%), from €171,307 to €153,022
- Short-term financial debts +€5,130
new in 2025: €5,130
- Gross operating margin -€3,355
down €3,355 (-3.5%), from €96,014 to €92,660
- Financial charges -€2,978
down €2,978 (-35.8%), from €8,308 to €5,330
- Financial income +€2,047
up €2,047 (+152.7%), from €1,341 to €3,388
- Depreciation +€1,621
up €1,621 (+6.4%), from €25,356 to €26,977
- Taxes +€1,072
up €1,072 (+8.0%), from €13,321 to €14,393
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 | €333,917 | €367,461 | +€33,543 | +10.0% |
| Fixed assets | 21/28 | €209,254 | €186,656 | -€22,598 | -10.8% |
| Tangible fixed assets | 22/27 | €209,254 | €186,656 | -€22,598 | -10.8% |
| Land and buildings | 22 | €171,055 | €156,933 | -€14,122 | -8.3% |
| Furniture and vehicles | 24 | €659 | €3,868 | +€3,210 | +487.2% |
| Leasing and similar rights | 25 | €26,438 | €15,863 | -€10,575 | -40.0% |
| Other tangible fixed assets | 26 | €11,101 | €9,991 | -€1,110 | -10.0% |
| Current assets | 29/58 | €124,664 | €180,805 | +€56,141 | +45.0% |
| Amounts receivable after more than one year | 29 | €15,000 | €50,000 | +€35,000 | +233.3% |
| Other amounts receivable | 291 | €15,000 | €50,000 | +€35,000 | +233.3% |
| Amounts receivable within one year | 40/41 | €15,483 | €4,099 | -€11,383 | -73.5% |
| Trade receivables | 40 | €15,476 | - | -€15,476 | |
| Other amounts receivable | 41 | €6 | €4,099 | +€4,093 | +64968.1% |
| Current investments | 50/53 | €88,000 | €101,000 | +€13,000 | +14.8% |
| Cash at bank and in hand | 54/58 | €4,708 | €24,154 | +€19,446 | +413.0% |
| Deferred charges and accrued income | 490/1 | €1,473 | €1,551 | +€78 | +5.3% |
| Total equity and liabilities | 10/49 | €333,917 | €367,461 | +€33,543 | +10.0% |
| Equity | 10/15 | €116,320 | €68,337 | -€47,984 | -41.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €65,000 | €65,000 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,820 | €837 | -€47,984 | -98.3% |
| Amounts payable | 17/49 | €217,597 | €299,124 | +€81,527 | +37.5% |
| Amounts payable after more than one year | 17 | €171,307 | €153,022 | -€18,284 | -10.7% |
| Financial debts | 170/4 | €171,307 | €153,022 | -€18,284 | -10.7% |
| Amounts payable within one year | 42/48 | €46,290 | €146,102 | +€99,811 | +215.6% |
| Current portion of amounts payable after more than one year | 42 | €18,108 | €18,284 | +€177 | +1.0% |
| Financial debts | 43 | - | €5,130 | +€5,130 | |
| Credit institutions | 430/8 | - | €5,130 | +€5,130 | |
| Trade debts | 44 | €263 | €199 | -€64 | -24.5% |
| Suppliers | 440/4 | €263 | €199 | -€64 | -24.5% |
| Taxes, remuneration and social security | 45 | €26,344 | €27,489 | +€1,145 | +4.3% |
| Taxes | 450/3 | €26,344 | €27,489 | +€1,145 | +4.3% |
| Other amounts payable | 47/48 | €1,576 | €95,000 | +€93,424 | +5928.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,356 | €26,977 | +€1,621 | +6.4% |
| Other operating charges | 640/8 | €2,777 | €2,332 | -€446 | -16.0% |
| Gross operating margin | 9900 | €96,014 | €92,660 | -€3,355 | -3.5% |
| Operating profit (loss) | 9901 | €67,881 | €63,351 | -€4,530 | -6.7% |
| Financial income | 75/76B | €1,341 | €3,388 | +€2,047 | +152.7% |
| Recurring financial income | 75 | €1,341 | €3,388 | +€2,047 | +152.7% |
| Financial charges | 65/66B | €8,308 | €5,330 | -€2,978 | -35.8% |
| Recurring financial charges | 65 | €8,308 | €5,330 | -€2,978 | -35.8% |
| Profit (loss) for the period before taxes | 9903 | €60,914 | €61,409 | +€495 | +0.8% |
| Income taxes | 67/77 | €13,321 | €14,393 | +€1,072 | +8.0% |
| Profit (loss) for the period | 9904 | €47,593 | €47,016 | -€576 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,593 | €47,016 | -€576 | -1.2% |
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 11 October 2026 via checked.be.