Thapa: 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.
Thapa
Largest movements
- Tangible fixed assets +€19,815
up €19,815 (+1,557%), from €1,273 to €21,088
of which Furniture and vehicles: +€20,355
- Stocks and contracts -€6,000
down €6,000 (-16.4%), from €36,482 to €30,482
- Receivables within one year +€3,504
up €3,504 (+59.2%), from €5,923 to €9,428
of which Other amounts receivable: +€9,166
- Cash +€1,610
up €1,610 (+5.6%), from €28,604 to €30,214
mainly Debts after one year (+€15,993) and Stocks and contracts (+€6,000)
- Debts after one year +€15,993
new in 2025: €15,993
- Other debts -€9,082
down €9,082 (-89.4%), from €10,156 to €1,074
- Trade debts +€5,659
up €5,659 (+186%), from €3,046 to €8,705
- Current portion of long-term debt +€4,457
new in 2025: €4,457
- Reserves +€1,715
up €1,715 (+14.3%), from €12,000 to €13,715
- Gross operating margin -€32,717
down €32,717 (-71.1%), from €46,020 to €13,303
- Taxes -€9,462
down €9,462 (-93.6%), from €10,105 to €643
- Depreciation +€2,795
up €2,795 (+156%), from €1,790 to €4,586
- Financial charges +€1,284
up €1,284 (+51.3%), from €2,502 to €3,786
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 | €75,733 | €93,911 | +€18,178 | +24.0% |
| Fixed assets | 21/28 | €4,299 | €23,788 | +€19,489 | +453% |
| Intangible fixed assets | 21 | €326 | €0 | -€326 | -100% |
| Tangible fixed assets | 22/27 | €1,273 | €21,088 | +€19,815 | +1,557% |
| Plant, machinery and equipment | 23 | €1,273 | €733 | -€540 | -42.4% |
| Furniture and vehicles | 24 | - | €20,355 | +€20,355 | |
| Financial fixed assets | 28 | €2,700 | €2,700 | = | 0.0% |
| Current assets | 29/58 | €71,434 | €70,123 | -€1,311 | -1.8% |
| Stocks and contracts in progress | 3 | €36,482 | €30,482 | -€6,000 | -16.4% |
| Stocks | 30/36 | €36,482 | €30,482 | -€6,000 | -16.4% |
| Amounts receivable within one year | 40/41 | €5,923 | €9,428 | +€3,504 | +59.2% |
| Trade receivables | 40 | €5,913 | €251 | -€5,662 | -95.8% |
| Other amounts receivable | 41 | €11 | €9,177 | +€9,166 | +87,130% |
| Cash at bank and in hand | 54/58 | €28,604 | €30,214 | +€1,610 | +5.6% |
| Deferred charges and accrued income | 490/1 | €425 | €0 | -€425 | -100% |
| Total equity and liabilities | 10/49 | €75,733 | €93,911 | +€18,178 | +24.0% |
| Equity | 10/15 | €50,011 | €50,892 | +€882 | +1.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €12,000 | €13,715 | +€1,715 | +14.3% |
| Distributable reserves | 133 | €12,000 | €13,715 | +€1,715 | +14.3% |
| Profit (loss) carried forward | 14 | €28,011 | €27,178 | -€833 | -3.0% |
| Amounts payable | 17/49 | €25,722 | €43,018 | +€17,296 | +67.2% |
| Amounts payable after more than one year | 17 | - | €15,993 | +€15,993 | |
| Financial debts | 170/4 | - | €15,993 | +€15,993 | |
| Amounts payable within one year | 42/48 | €25,072 | €27,026 | +€1,953 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,457 | +€4,457 | |
| Trade debts | 44 | €3,046 | €8,705 | +€5,659 | +186% |
| Suppliers | 440/4 | €3,046 | €8,705 | +€5,659 | +186% |
| Taxes, remuneration and social security | 45 | €11,870 | €12,789 | +€919 | +7.7% |
| Taxes | 450/3 | €11,870 | €10,408 | -€1,461 | -12.3% |
| Remuneration and social security | 454/9 | - | €2,380 | +€2,380 | |
| Other amounts payable | 47/48 | €10,156 | €1,074 | -€9,082 | -89.4% |
| Accrued charges and deferred income | 492/3 | €650 | €0 | -€650 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,790 | €4,586 | +€2,795 | +156% |
| Other operating charges | 640/8 | €2,336 | €2,592 | +€256 | +10.9% |
| Gross operating margin | 9900 | €46,020 | €13,303 | -€32,717 | -71.1% |
| Operating profit (loss) | 9901 | €41,894 | €6,125 | -€35,769 | -85.4% |
| Financial income | 75/76B | €86 | €19 | -€67 | -78.1% |
| Recurring financial income | 75 | €86 | €19 | -€67 | -78.1% |
| Financial charges | 65/66B | €2,502 | €3,786 | +€1,284 | +51.3% |
| Recurring financial charges | 65 | €2,502 | €3,786 | +€1,284 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | €39,478 | €2,358 | -€37,120 | -94.0% |
| Income taxes | 67/77 | €10,105 | €643 | -€9,462 | -93.6% |
| Profit (loss) for the period | 9904 | €29,373 | €1,715 | -€27,658 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,373 | €1,715 | -€27,658 | -94.2% |
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 14 October 2026 via checked.be.