THAFAMO: 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.
THAFAMO
Largest movements
- Receivables within one year +€132,134
up €132,134 (+145.6%), from €90,776 to €222,910
of which Other amounts receivable: +€101,722
- Tangible fixed assets -€85,900
down €85,900 (-4.3%), from €2.0m to €1.9m
of which Land and buildings: -€74,601
- Cash -€33,554
down €33,554 (-60.2%), from €55,695 to €22,142
mainly Contributions, distributions and other (-€256,299) and Receivables within one year (-€132,134)
- Other debts +€244,299
up €244,299 (+4190.4%), from €5,830 to €250,129
- Reserves -€198,750
down €198,750 (-23.6%), from €843,324 to €644,574
- Debts after one year -€58,152
down €58,152 (-7.7%), from €754,196 to €696,044
- Gross operating margin +€40,882
up €40,882 (+20.0%), from €204,325 to €245,207
- Taxes +€31,156
up €31,156 (+62.9%), from €49,508 to €80,665
- Depreciation -€8,940
down €8,940 (-9.4%), from €94,840 to €85,900
- Financial charges +€4,357
up €4,357 (+30.3%), from €14,389 to €18,746
- Financial income -€3,291
down €3,291 (-33.7%), from €9,754 to €6,463
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 | €2,271,070 | €2,296,068 | +€24,998 | +1.1% |
| Fixed assets | 21/28 | €1,995,022 | €1,909,121 | -€85,900 | -4.3% |
| Tangible fixed assets | 22/27 | €1,995,022 | €1,909,121 | -€85,900 | -4.3% |
| Land and buildings | 22 | €1,959,312 | €1,884,711 | -€74,601 | -3.8% |
| Furniture and vehicles | 24 | €35,709 | €24,410 | -€11,299 | -31.6% |
| Current assets | 29/58 | €276,048 | €386,947 | +€110,898 | +40.2% |
| Amounts receivable within one year | 40/41 | €90,776 | €222,910 | +€132,134 | +145.6% |
| Trade receivables | 40 | €2,985 | €33,397 | +€30,412 | +1018.8% |
| Other amounts receivable | 41 | €87,791 | €189,513 | +€101,722 | +115.9% |
| Current investments | 50/53 | €126,529 | €138,529 | +€12,000 | +9.5% |
| Cash at bank and in hand | 54/58 | €55,695 | €22,142 | -€33,554 | -60.2% |
| Deferred charges and accrued income | 490/1 | €3,048 | €3,366 | +€318 | +10.4% |
| Total equity and liabilities | 10/49 | €2,271,070 | €2,296,068 | +€24,998 | +1.1% |
| Equity | 10/15 | €1,400,324 | €1,201,574 | -€198,750 | -14.2% |
| Contributions | 10/11 | €557,000 | €557,000 | = | 0.0% |
| Reserves | 13 | €843,324 | €644,574 | -€198,750 | -23.6% |
| Distributable reserves | 133 | €843,324 | €644,574 | -€198,750 | -23.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €870,746 | €1,094,494 | +€223,748 | +25.7% |
| Amounts payable after more than one year | 17 | €754,196 | €696,044 | -€58,152 | -7.7% |
| Financial debts | 170/4 | €754,196 | €696,044 | -€58,152 | -7.7% |
| Amounts payable within one year | 42/48 | €116,550 | €397,635 | +€281,085 | +241.2% |
| Current portion of amounts payable after more than one year | 42 | €56,899 | €58,152 | +€1,253 | +2.2% |
| Trade debts | 44 | €10,640 | €27,653 | +€17,013 | +159.9% |
| Suppliers | 440/4 | €10,640 | €27,653 | +€17,013 | +159.9% |
| Taxes, remuneration and social security | 45 | €43,181 | €61,701 | +€18,520 | +42.9% |
| Taxes | 450/3 | €43,181 | €61,701 | +€18,520 | +42.9% |
| Other amounts payable | 47/48 | €5,830 | €250,129 | +€244,299 | +4190.4% |
| Accrued charges and deferred income | 492/3 | - | €815 | +€815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,840 | €85,900 | -€8,940 | -9.4% |
| Other operating charges | 640/8 | €8,901 | €8,810 | -€91 | -1.0% |
| Gross operating margin | 9900 | €204,325 | €245,207 | +€40,882 | +20.0% |
| Operating profit (loss) | 9901 | €100,584 | €150,496 | +€49,912 | +49.6% |
| Financial income | 75/76B | €9,754 | €6,463 | -€3,291 | -33.7% |
| Recurring financial income | 75 | €9,754 | €6,463 | -€3,291 | -33.7% |
| Financial charges | 65/66B | €14,389 | €18,746 | +€4,357 | +30.3% |
| Recurring financial charges | 65 | €14,389 | €18,746 | +€4,357 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | €95,949 | €138,214 | +€42,265 | +44.0% |
| Income taxes | 67/77 | €49,508 | €80,665 | +€31,156 | +62.9% |
| Profit (loss) for the period | 9904 | €46,440 | €57,549 | +€11,108 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,440 | €57,549 | +€11,108 | +23.9% |
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 1 October 2026 via checked.be.