THAXLA: 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.
THAXLA
Largest movements
- Receivables within one year -€59,284
down €59,284 (-34.7%), from €170,627 to €111,343
- Tangible fixed assets +€12,907
up €12,907 (+8001.6%), from €161 to €13,068
- Cash +€2,002
up €2,002 (+636.3%), from €315 to €2,317
mainly Net result for the year (+€177,258) and Receivables within one year (+€59,284)
- Other debts -€69,241
down €69,241 (-74.8%), from €92,570 to €23,329
- Reserves +€27,258
up €27,258 (+155.0%), from €17,587 to €44,844
- Tax, wage and social debts -€7,652
down €7,652 (-18.3%), from €41,842 to €34,190
of which Taxes: -€7,652
- Trade debts +€5,748
up €5,748 (+731.7%), from €786 to €6,534
- Gross operating margin -€20,570
down €20,570 (-8.0%), from €255,686 to €235,116
- Taxes -€3,723
down €3,723 (-6.2%), from €60,062 to €56,339
- Financial income +€3,123
new in 2025: €3,123
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 | €171,509 | €127,497 | -€44,013 | -25.7% |
| Fixed assets | 21/28 | €161 | €13,068 | +€12,907 | +8001.6% |
| Tangible fixed assets | 22/27 | €161 | €13,068 | +€12,907 | +8001.6% |
| Furniture and vehicles | 24 | €161 | €13,068 | +€12,907 | +8001.6% |
| Current assets | 29/58 | €171,348 | €114,429 | -€56,919 | -33.2% |
| Amounts receivable within one year | 40/41 | €170,627 | €111,343 | -€59,284 | -34.7% |
| Trade receivables | 40 | €170,627 | €111,343 | -€59,284 | -34.7% |
| Cash at bank and in hand | 54/58 | €315 | €2,317 | +€2,002 | +636.3% |
| Deferred charges and accrued income | 490/1 | €407 | €769 | +€362 | +89.1% |
| Total equity and liabilities | 10/49 | €171,509 | €127,497 | -€44,013 | -25.7% |
| Equity | 10/15 | €36,187 | €63,444 | +€27,258 | +75.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,587 | €44,844 | +€27,258 | +155.0% |
| Distributable reserves | 133 | €17,587 | €44,844 | +€27,258 | +155.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €135,323 | €64,052 | -€71,271 | -52.7% |
| Amounts payable within one year | 42/48 | €135,197 | €64,052 | -€71,145 | -52.6% |
| Trade debts | 44 | €786 | €6,534 | +€5,748 | +731.7% |
| Suppliers | 440/4 | €786 | €6,534 | +€5,748 | +731.7% |
| Taxes, remuneration and social security | 45 | €41,842 | €34,190 | -€7,652 | -18.3% |
| Taxes | 450/3 | €41,842 | €34,190 | -€7,652 | -18.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €92,570 | €23,329 | -€69,241 | -74.8% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,123 | €792 | -€332 | -29.5% |
| Other operating charges | 640/8 | €1,737 | €2,656 | +€919 | +52.9% |
| Gross operating margin | 9900 | €255,686 | €235,116 | -€20,570 | -8.0% |
| Operating profit (loss) | 9901 | €252,825 | €231,668 | -€21,157 | -8.4% |
| Financial income | 75/76B | - | €3,123 | +€3,123 | |
| Recurring financial income | 75 | - | €3,123 | +€3,123 | |
| Financial charges | 65/66B | €316 | €1,194 | +€878 | +278.2% |
| Recurring financial charges | 65 | €316 | €1,194 | +€878 | +278.2% |
| Profit (loss) for the period before taxes | 9903 | €252,509 | €233,597 | -€18,912 | -7.5% |
| Income taxes | 67/77 | €60,062 | €56,339 | -€3,723 | -6.2% |
| Profit (loss) for the period | 9904 | €192,447 | €177,258 | -€15,190 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €192,447 | €177,258 | -€15,190 | -7.9% |
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 3 October 2026 via checked.be.