THAiSSA: 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.
THAiSSA
Largest movements
- Stocks and contracts +€1,100
up €1,100 (+29.1%), from €3,785 to €4,885
- Receivables within one year +€520
up €520 (+333.3%), from €156 to €676
- Cash -€463
down €463 (-45.2%), from €1,024 to €561
mainly Stocks and contracts (-€1,100) and Net result for the year (-€771)
- Formation expenses -€357
down €357 (-20.4%), from €1,752 to €1,395
- Tangible fixed assets -€320
down €320 (-52.6%), from €607 to €288
- Profit (loss) carried forward -€771
down €771 (-2.0%), from -€38,766 to -€39,537
- Other debts +€660
up €660 (+3.5%), from €18,617 to €19,276
- Trade debts +€592
up €592 (+6.7%), from €8,883 to €9,474
- Gross operating margin +€3,145
up €3,145, from -€2,696 to €448
- Other operating charges +€495
new in 2025: €495
- Depreciation +€322
up €322 (+90.8%), from €355 to €677
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 | €7,325 | €7,805 | +€480 | +6.6% |
| Formation expenses | 20 | €1,752 | €1,395 | -€357 | -20.4% |
| Fixed assets | 21/28 | €607 | €288 | -€320 | -52.6% |
| Tangible fixed assets | 22/27 | €607 | €288 | -€320 | -52.6% |
| Furniture and vehicles | 24 | €607 | €288 | -€320 | -52.6% |
| Current assets | 29/58 | €4,965 | €6,122 | +€1,157 | +23.3% |
| Stocks and contracts in progress | 3 | €3,785 | €4,885 | +€1,100 | +29.1% |
| Stocks | 30/36 | €3,785 | €4,885 | +€1,100 | +29.1% |
| Amounts receivable within one year | 40/41 | €156 | €676 | +€520 | +333.3% |
| Trade receivables | 40 | €156 | €676 | +€520 | +333.3% |
| Cash at bank and in hand | 54/58 | €1,024 | €561 | -€463 | -45.2% |
| Total equity and liabilities | 10/49 | €7,325 | €7,805 | +€480 | +6.6% |
| Equity | 10/15 | -€20,174 | -€20,945 | -€771 | -3.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,766 | -€39,537 | -€771 | -2.0% |
| Amounts payable | 17/49 | €27,499 | €28,750 | +€1,251 | +4.5% |
| Amounts payable within one year | 42/48 | €27,499 | €28,750 | +€1,251 | +4.5% |
| Trade debts | 44 | €8,883 | €9,474 | +€592 | +6.7% |
| Suppliers | 440/4 | €8,883 | €9,474 | +€592 | +6.7% |
| Other amounts payable | 47/48 | €18,617 | €19,276 | +€660 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €355 | €677 | +€322 | +90.8% |
| Other operating charges | 640/8 | - | €495 | +€495 | |
| Gross operating margin | 9900 | -€2,696 | €448 | +€3,145 | |
| Operating profit (loss) | 9901 | -€3,051 | -€724 | +€2,327 | +76.3% |
| Financial charges | 65/66B | €60 | €47 | -€13 | -21.0% |
| Recurring financial charges | 65 | €60 | €47 | -€13 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,111 | -€771 | +€2,340 | +75.2% |
| Profit (loss) for the period | 9904 | -€3,111 | -€771 | +€2,340 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,111 | -€771 | +€2,340 | +75.2% |
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 4 October 2026 via checked.be.