THAI STATION: 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 STATION
Largest movements
- Tangible fixed assets +€19,248
up €19,248 (+61.5%), from €31,310 to €50,558
of which Land and buildings: +€19,145
- Cash -€13,224
down €13,224 (-22.6%), from €58,551 to €45,327
mainly Investment in fixed assets (net) (-€27,754) and Other debts (-€10,897)
- Deferred charges and accrued income +€2,444
new in 2025: €2,444
- Receivables within one year +€1,722
up €1,722 (+18.8%), from €9,168 to €10,890
of which Other amounts receivable: +€10,890
- Tax, wage and social debts +€15,549
up €15,549 (+134.8%), from €11,533 to €27,082
of which Remuneration and social security: +€20,500
- Profit (loss) carried forward +€14,383
up €14,383 (+68.1%), from €21,127 to €35,510
- Other debts -€10,897
down €10,897 (-85.8%), from €12,695 to €1,798
- Debts after one year -€5,845
down €5,845 (-26.9%), from €21,740 to €15,894
- Trade debts -€3,274
down €3,274 (-20.0%), from €16,362 to €13,089
- Staff costs +€140,973
up €140,973 (+248.6%), from €56,702 to €197,675
- Gross operating margin +€140,964
up €140,964 (+153.1%), from €92,083 to €233,047
- Financial charges +€4,217
up €4,217 (+116.7%), from €3,613 to €7,830
- Depreciation +€3,871
up €3,871 (+83.5%), from €4,635 to €8,506
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 | €99,029 | €109,219 | +€10,189 | +10.3% |
| Fixed assets | 21/28 | €31,310 | €50,558 | +€19,248 | +61.5% |
| Tangible fixed assets | 22/27 | €31,310 | €50,558 | +€19,248 | +61.5% |
| Land and buildings | 22 | €19,448 | €38,593 | +€19,145 | +98.4% |
| Plant, machinery and equipment | 23 | €9,266 | €10,348 | +€1,082 | +11.7% |
| Furniture and vehicles | 24 | €2,596 | €1,617 | -€979 | -37.7% |
| Current assets | 29/58 | €67,719 | €58,661 | -€9,059 | -13.4% |
| Amounts receivable within one year | 40/41 | €9,168 | €10,890 | +€1,722 | +18.8% |
| Trade receivables | 40 | €9,168 | - | -€9,168 | |
| Other amounts receivable | 41 | - | €10,890 | +€10,890 | |
| Cash at bank and in hand | 54/58 | €58,551 | €45,327 | -€13,224 | -22.6% |
| Deferred charges and accrued income | 490/1 | - | €2,444 | +€2,444 | |
| Total equity and liabilities | 10/49 | €99,029 | €109,219 | +€10,189 | +10.3% |
| Equity | 10/15 | €31,127 | €45,510 | +€14,383 | +46.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,127 | €35,510 | +€14,383 | +68.1% |
| Amounts payable | 17/49 | €67,902 | €63,708 | -€4,194 | -6.2% |
| Amounts payable after more than one year | 17 | €21,740 | €15,894 | -€5,845 | -26.9% |
| Financial debts | 170/4 | €21,740 | €15,894 | -€5,845 | -26.9% |
| Amounts payable within one year | 42/48 | €46,163 | €47,814 | +€1,651 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €5,572 | €5,845 | +€273 | +4.9% |
| Trade debts | 44 | €16,362 | €13,089 | -€3,274 | -20.0% |
| Suppliers | 440/4 | €16,362 | €13,089 | -€3,274 | -20.0% |
| Taxes, remuneration and social security | 45 | €11,533 | €27,082 | +€15,549 | +134.8% |
| Taxes | 450/3 | €8,777 | €3,826 | -€4,951 | -56.4% |
| Remuneration and social security | 454/9 | €2,755 | €23,256 | +€20,500 | +744.0% |
| Other amounts payable | 47/48 | €12,695 | €1,798 | -€10,897 | -85.8% |
| Remuneration, social security and pensions | 62 | €56,702 | €197,675 | +€140,973 | +248.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,635 | €8,506 | +€3,871 | +83.5% |
| Other operating charges | 640/8 | €620 | €1,304 | +€684 | +110.2% |
| Gross operating margin | 9900 | €92,083 | €233,047 | +€140,964 | +153.1% |
| Operating profit (loss) | 9901 | €30,126 | €25,562 | -€4,563 | -15.1% |
| Financial income | 75/76B | - | €212 | +€212 | |
| Recurring financial income | 75 | - | €212 | +€212 | |
| Non-recurring financial income | 76B | - | €212 | +€212 | |
| Financial charges | 65/66B | €3,613 | €7,830 | +€4,217 | +116.7% |
| Recurring financial charges | 65 | €3,613 | €7,830 | +€4,217 | +116.7% |
| Profit (loss) for the period before taxes | 9903 | €26,513 | €17,944 | -€8,569 | -32.3% |
| Income taxes | 67/77 | €5,385 | €3,561 | -€1,824 | -33.9% |
| Profit (loss) for the period | 9904 | €21,127 | €14,383 | -€6,744 | -31.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,127 | €14,383 | -€6,744 | -31.9% |
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 10 October 2026 via checked.be.