THAICO: 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.
THAICO
Largest movements
- Tangible fixed assets -€100,020
down €100,020 (-26.4%), from €379,173 to €279,153
of which Plant, machinery and equipment: -€76,419
- Receivables within one year +€42,246
up €42,246 (+25.6%), from €165,218 to €207,464
of which Other amounts receivable: +€42,246
- Intangible fixed assets -€28,501
down €28,501 (-20.0%), from €142,507 to €114,005
- Debts after one year -€59,686
down €59,686 (-35.6%), from €167,740 to €108,054
- Tax, wage and social debts -€30,274
down €30,274 (-14.4%), from €210,611 to €180,337
of which Remuneration and social security: -€24,940
- Current portion of long-term debt -€13,850
down €13,850 (-12.8%), from €108,616 to €94,766
- Profit (loss) carried forward +€10,843
up €10,843 (+5.2%), from €207,474 to €218,317
- Turnover -€717,495
down €717,495 (-23.9%), from €3.0m to €2.3m
- Purchases and services -€629,507
down €629,507 (-31.4%), from €2.0m to €1.4m
- Staff costs -€282,938
down €282,938 (-27.6%), from €1.0m to €743,373
- Gross operating margin -€180,686
down €180,686 (-16.6%), from €1.1m to €910,595
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €970,860 | €878,224 | -€92,637 | -9.5% |
| Fixed assets | 21/28 | €533,912 | €405,390 | -€128,522 | -24.1% |
| Intangible fixed assets | 21 | €142,507 | €114,005 | -€28,501 | -20.0% |
| Tangible fixed assets | 22/27 | €379,173 | €279,153 | -€100,020 | -26.4% |
| Plant, machinery and equipment | 23 | €303,866 | €227,447 | -€76,419 | -25.1% |
| Furniture and vehicles | 24 | €75,307 | €51,706 | -€23,602 | -31.3% |
| Financial fixed assets | 28 | €12,232 | €12,232 | = | 0.0% |
| Current assets | 29/58 | €436,948 | €472,833 | +€35,885 | +8.2% |
| Stocks and contracts in progress | 3 | €178,485 | €179,085 | +€600 | +0.3% |
| Stocks | 30/36 | €178,485 | €179,085 | +€600 | +0.3% |
| Amounts receivable within one year | 40/41 | €165,218 | €207,464 | +€42,246 | +25.6% |
| Trade receivables | 40 | €124,767 | €124,767 | = | 0.0% |
| Other amounts receivable | 41 | €40,451 | €82,697 | +€42,246 | +104% |
| Current investments | 50/53 | €6,249 | €6,249 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,903 | €78,943 | -€6,960 | -8.1% |
| Deferred charges and accrued income | 490/1 | €1,093 | €1,093 | = | 0.0% |
| Total equity and liabilities | 10/49 | €970,860 | €878,224 | -€92,637 | -9.5% |
| Equity | 10/15 | €261,051 | €271,894 | +€10,843 | +4.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Capital | 10 | €19,000 | €19,000 | = | 0.0% |
| Issued capital | 100 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €34,577 | €34,577 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Legal reserve | 130 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,677 | €32,677 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,474 | €218,317 | +€10,843 | +5.2% |
| Amounts payable | 17/49 | €709,809 | €606,330 | -€103,479 | -14.6% |
| Amounts payable after more than one year | 17 | €167,740 | €108,054 | -€59,686 | -35.6% |
| Financial debts | 170/4 | €167,740 | €108,054 | -€59,686 | -35.6% |
| Amounts payable within one year | 42/48 | €542,069 | €498,275 | -€43,794 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €108,616 | €94,766 | -€13,850 | -12.8% |
| Trade debts | 44 | €28,431 | €37,205 | +€8,773 | +30.9% |
| Suppliers | 440/4 | €28,431 | €37,205 | +€8,773 | +30.9% |
| Taxes, remuneration and social security | 45 | €210,611 | €180,337 | -€30,274 | -14.4% |
| Taxes | 450/3 | €29,157 | €23,823 | -€5,334 | -18.3% |
| Remuneration and social security | 454/9 | €181,454 | €156,514 | -€24,940 | -13.7% |
| Other amounts payable | 47/48 | €194,411 | €185,968 | -€8,443 | -4.3% |
| Turnover | 70 | €3,003,327 | €2,285,831 | -€717,495 | -23.9% |
| Non-recurring operating income | 76A | €92,697 | - | -€92,697 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,004,743 | €1,375,236 | -€629,507 | -31.4% |
| Remuneration, social security and pensions | 62 | €1,026,310 | €743,373 | -€282,938 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,789 | €131,489 | -€1,301 | -1.0% |
| Other operating charges | 640/8 | €10,094 | €9,830 | -€265 | -2.6% |
| Non-recurring operating charges | 66A | - | €38 | +€38 | |
| Gross operating margin | 9900 | €1,091,281 | €910,595 | -€180,686 | -16.6% |
| Operating profit (loss) | 9901 | -€77,913 | €25,867 | +€103,779 | |
| Financial income | 75/76B | €20 | €1,280 | +€1,260 | +6,161% |
| Recurring financial income | 75 | €20 | €1,280 | +€1,260 | +6,161% |
| Financial charges | 65/66B | €7,728 | €16,081 | +€8,353 | +108% |
| Recurring financial charges | 65 | €7,728 | €16,081 | +€8,353 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€85,621 | €11,066 | +€96,686 | |
| Income taxes | 67/77 | €13,163 | €223 | -€12,940 | -98.3% |
| Profit (loss) for the period | 9904 | -€98,783 | €10,843 | +€109,626 | |
| Profit (loss) for the period to be appropriated | 9905 | -€98,783 | €10,843 | +€109,626 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.