Thalmisa: 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.
Thalmisa
Largest movements
- Tangible fixed assets -€9,713
down €9,713 (-5.1%), from €191,254 to €181,541
of which Land and buildings: -€7,825
- Profit (loss) carried forward -€26,789
down €26,789 (-48.4%), from -€55,296 to -€82,085
- Debts after one year +€14,733
up €14,733 (+6.1%), from €240,968 to €255,701
- Gross operating margin -€1,453
down €1,453 (-18.3%), from -€7,936 to -€9,389
- Staff costs -€1,411
down €1,411 (-58.6%), from €2,406 to €995
- Financial charges -€327
down €327 (-6.2%), from €5,233 to €4,906
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 | €202,001 | €189,131 | -€12,870 | -6.4% |
| Formation expenses | 20 | €1,327 | €922 | -€405 | -30.5% |
| Fixed assets | 21/28 | €191,254 | €181,541 | -€9,713 | -5.1% |
| Tangible fixed assets | 22/27 | €191,254 | €181,541 | -€9,713 | -5.1% |
| Land and buildings | 22 | €179,575 | €171,750 | -€7,825 | -4.4% |
| Plant, machinery and equipment | 23 | €11,679 | €9,790 | -€1,888 | -16.2% |
| Current assets | 29/58 | €9,420 | €6,668 | -€2,752 | -29.2% |
| Stocks and contracts in progress | 3 | €2,515 | €725 | -€1,790 | -71.2% |
| Stocks | 30/36 | €2,515 | €725 | -€1,790 | -71.2% |
| Amounts receivable within one year | 40/41 | €1,318 | €769 | -€549 | -41.7% |
| Trade receivables | 40 | €1,174 | €731 | -€442 | -37.7% |
| Other amounts receivable | 41 | €145 | €38 | -€107 | -73.9% |
| Cash at bank and in hand | 54/58 | €4,495 | €4,072 | -€423 | -9.4% |
| Deferred charges and accrued income | 490/1 | €1,092 | €1,103 | +€11 | +1.0% |
| Total equity and liabilities | 10/49 | €202,001 | €189,131 | -€12,870 | -6.4% |
| Equity | 10/15 | -€52,296 | -€79,085 | -€26,789 | -51.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,296 | -€82,085 | -€26,789 | -48.4% |
| Amounts payable | 17/49 | €254,296 | €268,216 | +€13,920 | +5.5% |
| Amounts payable after more than one year | 17 | €240,968 | €255,701 | +€14,733 | +6.1% |
| Financial debts | 170/4 | €240,968 | €255,701 | +€14,733 | +6.1% |
| Amounts payable within one year | 42/48 | €13,328 | €12,515 | -€813 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €10,788 | €11,251 | +€463 | +4.3% |
| Trade debts | 44 | €347 | - | -€347 | |
| Suppliers | 440/4 | €347 | - | -€347 | |
| Taxes, remuneration and social security | 45 | €1,041 | €92 | -€949 | -91.1% |
| Taxes | 450/3 | €636 | - | -€636 | |
| Remuneration and social security | 454/9 | €405 | €92 | -€313 | -77.2% |
| Other amounts payable | 47/48 | €1,152 | €1,172 | +€19 | +1.7% |
| Remuneration, social security and pensions | 62 | €2,406 | €995 | -€1,411 | -58.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,118 | €10,118 | = | 0.0% |
| Other operating charges | 640/8 | €1,394 | €1,384 | -€10 | -0.7% |
| Gross operating margin | 9900 | -€7,936 | -€9,389 | -€1,453 | -18.3% |
| Operating profit (loss) | 9901 | -€21,854 | -€21,886 | -€32 | -0.1% |
| Financial income | 75/76B | €0 | €3 | +€3 | +14,900% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +14,900% |
| Financial charges | 65/66B | €5,233 | €4,906 | -€327 | -6.2% |
| Recurring financial charges | 65 | €5,233 | €4,906 | -€327 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | -€27,088 | -€26,789 | +€298 | +1.1% |
| Profit (loss) for the period | 9904 | -€27,088 | -€26,789 | +€298 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,088 | -€26,789 | +€298 | +1.1% |
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 17 October 2026 via checked.be.