THAI KING: 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.
THAI KING
Largest movements
- Receivables within one year +€117,835
up €117,835 (+42.8%), from €275,026 to €392,861
of which Trade receivables: +€66,374
- Cash -€55,812
down €55,812 (-74.9%), from €74,522 to €18,710
mainly Receivables within one year (-€117,835) and Trade debts (-€12,057)
- Tangible fixed assets -€38,296
down €38,296 (-17.7%), from €216,191 to €177,896
of which Other tangible fixed assets: -€20,749
- Reserves +€57,014
up €57,014 (+26.3%), from €216,601 to €273,615
- Trade debts -€12,057
down €12,057 (-15.6%), from €77,386 to €65,329
- Other debts -€11,605
down €11,605 (-6.7%), from €172,451 to €160,846
- Tax, wage and social debts -€9,079
down €9,079 (-9.9%), from €91,539 to €82,460
of which Remuneration and social security: -€8,466
- Gross operating margin -€18,517
down €18,517 (-8.2%), from €226,159 to €207,643
- Staff costs -€10,170
down €10,170 (-10.2%), from €99,818 to €89,647
- Financial charges -€8,078
down €8,078 (-50.0%), from €16,165 to €8,087
of which Financial charges: -€8,531
- Financial income +€5,542
up €5,542 (+45.4%), from €12,208 to €17,750
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 | €567,977 | €592,250 | +€24,273 | +4.3% |
| Fixed assets | 21/28 | €216,191 | €177,896 | -€38,296 | -17.7% |
| Tangible fixed assets | 22/27 | €216,191 | €177,896 | -€38,296 | -17.7% |
| Plant, machinery and equipment | 23 | €49,241 | €39,570 | -€9,672 | -19.6% |
| Furniture and vehicles | 24 | €18,516 | €10,642 | -€7,875 | -42.5% |
| Other tangible fixed assets | 26 | €148,434 | €127,685 | -€20,749 | -14.0% |
| Current assets | 29/58 | €351,785 | €414,354 | +€62,569 | +17.8% |
| Amounts receivable within one year | 40/41 | €275,026 | €392,861 | +€117,835 | +42.8% |
| Trade receivables | 40 | - | €66,374 | +€66,374 | |
| Other amounts receivable | 41 | €275,026 | €326,486 | +€51,461 | +18.7% |
| Cash at bank and in hand | 54/58 | €74,522 | €18,710 | -€55,812 | -74.9% |
| Deferred charges and accrued income | 490/1 | €2,238 | €2,784 | +€546 | +24.4% |
| Total equity and liabilities | 10/49 | €567,977 | €592,250 | +€24,273 | +4.3% |
| Equity | 10/15 | €226,601 | €283,615 | +€57,014 | +25.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €216,601 | €273,615 | +€57,014 | +26.3% |
| Distributable reserves | 133 | €216,601 | €273,615 | +€57,014 | +26.3% |
| Amounts payable | 17/49 | €341,376 | €308,635 | -€32,741 | -9.6% |
| Amounts payable within one year | 42/48 | €341,376 | €308,635 | -€32,741 | -9.6% |
| Trade debts | 44 | €77,386 | €65,329 | -€12,057 | -15.6% |
| Suppliers | 440/4 | €77,386 | €65,329 | -€12,057 | -15.6% |
| Taxes, remuneration and social security | 45 | €91,539 | €82,460 | -€9,079 | -9.9% |
| Taxes | 450/3 | €83,073 | €82,460 | -€614 | -0.7% |
| Remuneration and social security | 454/9 | €8,466 | - | -€8,466 | |
| Other amounts payable | 47/48 | €172,451 | €160,846 | -€11,605 | -6.7% |
| Remuneration, social security and pensions | 62 | €99,818 | €89,647 | -€10,170 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,985 | €39,973 | +€988 | +2.5% |
| Other operating charges | 640/8 | €6,883 | €6,200 | -€683 | -9.9% |
| Gross operating margin | 9900 | €226,159 | €207,643 | -€18,517 | -8.2% |
| Operating profit (loss) | 9901 | €80,474 | €71,822 | -€8,652 | -10.8% |
| Financial income | 75/76B | €12,208 | €17,750 | +€5,542 | +45.4% |
| Recurring financial income | 75 | €12,208 | €17,750 | +€5,542 | +45.4% |
| Financial charges | 65/66B | €16,165 | €8,087 | -€8,078 | -50.0% |
| Recurring financial charges | 65 | €16,165 | €7,633 | -€8,531 | -52.8% |
| Non-recurring financial charges | 66B | - | €454 | +€454 | |
| Profit (loss) for the period before taxes | 9903 | €76,517 | €81,485 | +€4,968 | +6.5% |
| Income taxes | 67/77 | €25,157 | €24,471 | -€686 | -2.7% |
| Profit (loss) for the period | 9904 | €51,360 | €57,014 | +€5,654 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,360 | €57,014 | +€5,654 | +11.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.