THANSAWAN: 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.
THANSAWAN
Largest movements
- Receivables within one year +€3,808
up €3,808 (+689.0%), from €553 to €4,361
of which Trade receivables: +€4,355
- Cash -€3,614
no longer reported in 2025 (was €3,614)
mainly Debts after one year (-€36,882) and Other debts (-€9,137)
- Intangible fixed assets -€3,000
down €3,000 (-10.0%), from €30,000 to €27,000
- Debts after one year -€36,882
no longer reported in 2025 (was €36,882)
- Current portion of long-term debt +€30,657
new in 2025: €30,657
- Other debts -€9,137
down €9,137 (-75.5%), from €12,097 to €2,960
- Short-term financial debts +€7,995
new in 2025: €7,995
- Trade debts +€5,706
up €5,706 (+269.6%), from €2,116 to €7,822
- Depreciation -€9,389
down €9,389 (-75.8%), from €12,389 to €3,000
- Staff costs +€8,300
up €8,300 (+33.9%), from €24,492 to €32,792
- Other operating charges -€7,744
down €7,744 (-66.1%), from €11,715 to €3,971
- Gross operating margin +€1,685
up €1,685 (+4.3%), from €39,421 to €41,106
- Financial charges -€1,174
down €1,174 (-44.1%), from €2,660 to €1,487
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 | €70,531 | €67,724 | -€2,806 | -4.0% |
| Fixed assets | 21/28 | €66,364 | €63,364 | -€3,000 | -4.5% |
| Intangible fixed assets | 21 | €30,000 | €27,000 | -€3,000 | -10.0% |
| Tangible fixed assets | 22/27 | €36,364 | €36,364 | = | 0.0% |
| Furniture and vehicles | 24 | €36,364 | €36,364 | = | 0.0% |
| Current assets | 29/58 | €4,167 | €4,361 | +€194 | +4.6% |
| Amounts receivable within one year | 40/41 | €553 | €4,361 | +€3,808 | +689.0% |
| Trade receivables | 40 | - | €4,355 | +€4,355 | |
| Other amounts receivable | 41 | €553 | €6 | -€547 | -98.9% |
| Cash at bank and in hand | 54/58 | €3,614 | - | -€3,614 | |
| Total equity and liabilities | 10/49 | €70,531 | €67,724 | -€2,806 | -4.0% |
| Equity | 10/15 | €12,079 | €11,935 | -€144 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,381 | -€8,525 | -€144 | -1.7% |
| Amounts payable | 17/49 | €58,452 | €55,790 | -€2,662 | -4.6% |
| Amounts payable after more than one year | 17 | €36,882 | - | -€36,882 | |
| Financial debts | 170/4 | €36,882 | - | -€36,882 | |
| Amounts payable within one year | 42/48 | €21,570 | €55,790 | +€34,219 | +158.6% |
| Current portion of amounts payable after more than one year | 42 | - | €30,657 | +€30,657 | |
| Financial debts | 43 | - | €7,995 | +€7,995 | |
| Credit institutions | 430/8 | - | €7,995 | +€7,995 | |
| Trade debts | 44 | €2,116 | €7,822 | +€5,706 | +269.6% |
| Suppliers | 440/4 | €2,116 | €7,822 | +€5,706 | +269.6% |
| Advances received on contracts in progress | 46 | - | €4,679 | +€4,679 | |
| Taxes, remuneration and social security | 45 | €7,357 | €1,677 | -€5,680 | -77.2% |
| Taxes | 450/3 | - | €212 | +€212 | |
| Remuneration and social security | 454/9 | €7,357 | €1,465 | -€5,892 | -80.1% |
| Other amounts payable | 47/48 | €12,097 | €2,960 | -€9,137 | -75.5% |
| Remuneration, social security and pensions | 62 | €24,492 | €32,792 | +€8,300 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,389 | €3,000 | -€9,389 | -75.8% |
| Other operating charges | 640/8 | €11,715 | €3,971 | -€7,744 | -66.1% |
| Gross operating margin | 9900 | €39,421 | €41,106 | +€1,685 | +4.3% |
| Operating profit (loss) | 9901 | -€9,175 | €1,343 | +€10,517 | |
| Financial charges | 65/66B | €2,660 | €1,487 | -€1,174 | -44.1% |
| Recurring financial charges | 65 | €2,660 | €1,487 | -€1,174 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | -€11,835 | -€144 | +€11,691 | +98.8% |
| Income taxes | 67/77 | €918 | - | -€918 | |
| Profit (loss) for the period | 9904 | -€12,752 | -€144 | +€12,608 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,752 | -€144 | +€12,608 | +98.9% |
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 12 October 2026 via checked.be.