THAILANDAIS MANDARIN: 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.
THAILANDAIS MANDARIN
Largest movements
- Tangible fixed assets -€21,462
down €21,462 (-26.9%), from €79,642 to €58,181
of which Furniture and vehicles: -€22,090
- Receivables within one year -€16,271
down €16,271 (-22.1%), from €73,711 to €57,440
of which Trade receivables: -€23,694
- Cash -€5,313
down €5,313 (-29.4%), from €18,090 to €12,777
mainly Debts after one year (-€25,628) and Trade debts (-€20,927)
- Debts after one year -€25,628
down €25,628 (-62.5%), from €41,010 to €15,382
- Trade debts -€20,927
down €20,927 (-70.0%), from €29,886 to €8,958
- Staff costs +€9,638
up €9,638 (+18.2%), from €52,980 to €62,618
- Gross operating margin +€7,056
up €7,056 (+7.7%), from €92,203 to €99,259
- Depreciation +€5,012
up €5,012 (+25.2%), from €19,863 to €24,875
- Other operating charges +€3,464
up €3,464 (+209%), from €1,657 to €5,121
- Taxes -€1,553
down €1,553 (-19.0%), from €8,177 to €6,624
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 | €176,589 | €132,585 | -€44,003 | -24.9% |
| Fixed assets | 21/28 | €79,882 | €58,421 | -€21,462 | -26.9% |
| Tangible fixed assets | 22/27 | €79,642 | €58,181 | -€21,462 | -26.9% |
| Plant, machinery and equipment | 23 | - | €628 | +€628 | |
| Furniture and vehicles | 24 | €79,642 | €57,552 | -€22,090 | -27.7% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €96,706 | €74,165 | -€22,541 | -23.3% |
| Stocks and contracts in progress | 3 | €676 | €636 | -€40 | -5.9% |
| Stocks | 30/36 | €676 | €636 | -€40 | -5.9% |
| Amounts receivable within one year | 40/41 | €73,711 | €57,440 | -€16,271 | -22.1% |
| Trade receivables | 40 | €33,594 | €9,900 | -€23,694 | -70.5% |
| Other amounts receivable | 41 | €40,117 | €47,540 | +€7,423 | +18.5% |
| Cash at bank and in hand | 54/58 | €18,090 | €12,777 | -€5,313 | -29.4% |
| Deferred charges and accrued income | 490/1 | €4,228 | €3,311 | -€917 | -21.7% |
| Total equity and liabilities | 10/49 | €176,589 | €132,585 | -€44,003 | -24.9% |
| Equity | 10/15 | €78,941 | €79,880 | +€939 | +1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €58,481 | €59,420 | +€939 | +1.6% |
| Amounts payable | 17/49 | €97,648 | €52,706 | -€44,942 | -46.0% |
| Amounts payable after more than one year | 17 | €41,010 | €15,382 | -€25,628 | -62.5% |
| Financial debts | 170/4 | €41,010 | €15,382 | -€25,628 | -62.5% |
| Amounts payable within one year | 42/48 | €56,637 | €37,323 | -€19,314 | -34.1% |
| Current portion of amounts payable after more than one year | 42 | €12,162 | €12,690 | +€528 | +4.3% |
| Trade debts | 44 | €29,886 | €8,958 | -€20,927 | -70.0% |
| Suppliers | 440/4 | €29,886 | €8,958 | -€20,927 | -70.0% |
| Advances received on contracts in progress | 46 | - | €877 | +€877 | |
| Taxes, remuneration and social security | 45 | €14,590 | €14,798 | +€208 | +1.4% |
| Taxes | 450/3 | €7,125 | €10,023 | +€2,899 | +40.7% |
| Remuneration and social security | 454/9 | €7,465 | €4,774 | -€2,690 | -36.0% |
| Remuneration, social security and pensions | 62 | €52,980 | €62,618 | +€9,638 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,863 | €24,875 | +€5,012 | +25.2% |
| Other operating charges | 640/8 | €1,657 | €5,121 | +€3,464 | +209% |
| Gross operating margin | 9900 | €92,203 | €99,259 | +€7,056 | +7.7% |
| Operating profit (loss) | 9901 | €17,703 | €6,646 | -€11,057 | -62.5% |
| Financial income | 75/76B | €2,395 | €2,579 | +€184 | +7.7% |
| Recurring financial income | 75 | €2,395 | €2,579 | +€184 | +7.7% |
| Financial charges | 65/66B | €1,702 | €1,663 | -€39 | -2.3% |
| Recurring financial charges | 65 | €1,702 | €1,663 | -€39 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €18,396 | €7,562 | -€10,834 | -58.9% |
| Income taxes | 67/77 | €8,177 | €6,624 | -€1,553 | -19.0% |
| Profit (loss) for the period | 9904 | €10,219 | €939 | -€9,281 | -90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,219 | €939 | -€9,281 | -90.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.