THARIS: 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.
THARIS
Largest movements
- Receivables within one year +€24,342
up €24,342 (+8.6%), from €283,767 to €308,109
of which Other amounts receivable: +€26,819
- Reserves +€27,601
up €27,601 (+10.6%), from €260,972 to €288,573
- Current portion of long-term debt +€7,014
new in 2025: €7,014
- Tax, wage and social debts -€5,732
down €5,732 (-39.2%), from €14,604 to €8,872
- Short-term financial debts -€5,145
no longer reported in 2025 (was €5,145)
- Gross operating margin -€2,426
down €2,426 (-6.0%), from €40,740 to €38,314
- Turnover -€2,096
down €2,096 (-2.1%), from €100,089 to €97,993
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 | €287,873 | €311,509 | +€23,636 | +8.2% |
| Fixed assets | 21/28 | €4,089 | €2,729 | -€1,360 | -33.3% |
| Tangible fixed assets | 22/27 | €4,089 | €2,729 | -€1,360 | -33.3% |
| Plant, machinery and equipment | 23 | €1,799 | €1,357 | -€442 | -24.6% |
| Furniture and vehicles | 24 | €2,290 | €1,372 | -€918 | -40.1% |
| Current assets | 29/58 | €283,784 | €308,780 | +€24,996 | +8.8% |
| Amounts receivable within one year | 40/41 | €283,767 | €308,109 | +€24,342 | +8.6% |
| Trade receivables | 40 | €9,382 | €6,905 | -€2,477 | -26.4% |
| Other amounts receivable | 41 | €274,385 | €301,204 | +€26,819 | +9.8% |
| Cash at bank and in hand | 54/58 | €17 | €671 | +€654 | +3847.1% |
| Total equity and liabilities | 10/49 | €287,873 | €311,509 | +€23,636 | +8.2% |
| Equity | 10/15 | €267,172 | €294,773 | +€27,601 | +10.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €260,972 | €288,573 | +€27,601 | +10.6% |
| Distributable reserves | 133 | €260,972 | €288,573 | +€27,601 | +10.6% |
| Amounts payable | 17/49 | €20,701 | €16,736 | -€3,965 | -19.2% |
| Amounts payable within one year | 42/48 | €19,851 | €15,886 | -€3,965 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | - | €7,014 | +€7,014 | |
| Financial debts | 43 | €5,145 | - | -€5,145 | |
| Credit institutions | 430/8 | €5,145 | - | -€5,145 | |
| Trade debts | 44 | €102 | - | -€102 | |
| Suppliers | 440/4 | €102 | - | -€102 | |
| Taxes, remuneration and social security | 45 | €14,604 | €8,872 | -€5,732 | -39.2% |
| Taxes | 450/3 | €14,604 | €8,872 | -€5,732 | -39.2% |
| Accrued charges and deferred income | 492/3 | €850 | €850 | = | 0.0% |
| Turnover | 70 | €100,089 | €97,993 | -€2,096 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,133 | €1,360 | +€227 | +20.0% |
| Other operating charges | 640/8 | €109 | €118 | +€9 | +8.3% |
| Gross operating margin | 9900 | €40,740 | €38,314 | -€2,426 | -6.0% |
| Operating profit (loss) | 9901 | €39,498 | €36,836 | -€2,662 | -6.7% |
| Financial charges | 65/66B | €475 | €363 | -€112 | -23.6% |
| Recurring financial charges | 65 | €475 | €363 | -€112 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €39,023 | €36,473 | -€2,550 | -6.5% |
| Income taxes | 67/77 | €9,019 | €8,872 | -€147 | -1.6% |
| Profit (loss) for the period | 9904 | €30,004 | €27,601 | -€2,403 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,004 | €27,601 | -€2,403 | -8.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.