Thaison: 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.
Thaison
Largest movements
- Tangible fixed assets +€59,507
up €59,507 (+769.3%), from €7,735 to €67,242
of which Plant, machinery and equipment: +€43,161
- Cash -€24,638
down €24,638 (-37.6%), from €65,599 to €40,961
mainly Investment in fixed assets (net) (-€71,955) and Net result for the year (-€29,245)
- Receivables within one year -€10,063
down €10,063 (-71.2%), from €14,136 to €4,073
of which Trade receivables: -€13,967
- Stocks and contracts +€7,000
up €7,000 (+1346.2%), from €520 to €7,520
- Profit (loss) carried forward -€29,245
down €29,245, from €0 to -€29,245
- Tax, wage and social debts +€26,211
up €26,211 (+116.1%), from €22,581 to €48,793
of which Remuneration and social security: +€13,964
- Debts after one year +€18,208
new in 2025: €18,208
- Trade debts +€7,789
up €7,789 (+45.0%), from €17,304 to €25,093
- Current portion of long-term debt +€7,192
new in 2025: €7,192
- Staff costs +€62,355
up €62,355 (+113.6%), from €54,885 to €117,240
- Gross operating margin -€13,229
down €13,229 (-11.1%), from €119,143 to €105,914
- Taxes -€11,523
down €11,523 (-100.0%), from €11,523 to €0
- Depreciation +€10,377
up €10,377 (+501.2%), from €2,071 to €12,448
- Other operating charges +€1,558
up €1,558 (+199.3%), from €781 to €2,339
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 | €103,810 | €136,064 | +€32,254 | +31.1% |
| Fixed assets | 21/28 | €7,735 | €67,242 | +€59,507 | +769.3% |
| Tangible fixed assets | 22/27 | €7,735 | €67,242 | +€59,507 | +769.3% |
| Land and buildings | 22 | €2,871 | €4,229 | +€1,358 | +47.3% |
| Plant, machinery and equipment | 23 | €2,724 | €45,885 | +€43,161 | +1584.3% |
| Furniture and vehicles | 24 | €2,139 | €17,128 | +€14,989 | +700.6% |
| Current assets | 29/58 | €96,075 | €68,822 | -€27,253 | -28.4% |
| Stocks and contracts in progress | 3 | €520 | €7,520 | +€7,000 | +1346.2% |
| Stocks | 30/36 | €520 | €7,520 | +€7,000 | +1346.2% |
| Amounts receivable within one year | 40/41 | €14,136 | €4,073 | -€10,063 | -71.2% |
| Trade receivables | 40 | €13,967 | €0 | -€13,967 | -100.0% |
| Other amounts receivable | 41 | €170 | €4,073 | +€3,903 | +2298.6% |
| Cash at bank and in hand | 54/58 | €65,599 | €40,961 | -€24,638 | -37.6% |
| Deferred charges and accrued income | 490/1 | €15,819 | €16,268 | +€449 | +2.8% |
| Total equity and liabilities | 10/49 | €103,810 | €136,064 | +€32,254 | +31.1% |
| Equity | 10/15 | €61,732 | €32,487 | -€29,245 | -47.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €46,732 | €46,732 | = | 0.0% |
| Distributable reserves | 133 | €46,732 | €46,732 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€29,245 | -€29,245 | |
| Amounts payable | 17/49 | €42,078 | €103,577 | +€61,499 | +146.2% |
| Amounts payable after more than one year | 17 | - | €18,208 | +€18,208 | |
| Financial debts | 170/4 | - | €18,208 | +€18,208 | |
| Amounts payable within one year | 42/48 | €42,078 | €85,369 | +€43,291 | +102.9% |
| Current portion of amounts payable after more than one year | 42 | - | €7,192 | +€7,192 | |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €17,304 | €25,093 | +€7,789 | +45.0% |
| Suppliers | 440/4 | €17,304 | €25,093 | +€7,789 | +45.0% |
| Taxes, remuneration and social security | 45 | €22,581 | €48,793 | +€26,211 | +116.1% |
| Taxes | 450/3 | €14,760 | €27,007 | +€12,247 | +83.0% |
| Remuneration and social security | 454/9 | €7,822 | €21,786 | +€13,964 | +178.5% |
| Other amounts payable | 47/48 | €2,193 | €4,292 | +€2,099 | +95.7% |
| Remuneration, social security and pensions | 62 | €54,885 | €117,240 | +€62,355 | +113.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,071 | €12,448 | +€10,377 | +501.2% |
| Other operating charges | 640/8 | €781 | €2,339 | +€1,558 | +199.3% |
| Gross operating margin | 9900 | €119,143 | €105,914 | -€13,229 | -11.1% |
| Operating profit (loss) | 9901 | €61,405 | -€26,113 | -€87,518 | |
| Financial charges | 65/66B | €2,568 | €3,132 | +€564 | +22.0% |
| Recurring financial charges | 65 | €2,568 | €3,132 | +€564 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €58,837 | -€29,245 | -€88,082 | |
| Income taxes | 67/77 | €11,523 | €0 | -€11,523 | -100.0% |
| Profit (loss) for the period | 9904 | €47,314 | -€29,245 | -€76,559 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,314 | -€29,245 | -€76,559 |
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 3 October 2026 via checked.be.