THB: 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.
THB
Largest movements
- Cash -€289,905
down €289,905 (-88.2%), from €328,568 to €38,662
mainly Receivables within one year (-€180,012) and Contributions, distributions and other (-€150,000)
- Receivables within one year +€180,012
up €180,012 (+133%), from €135,755 to €315,767
of which Other amounts receivable: +€119,489
- Tangible fixed assets -€67,039
down €67,039 (-42.7%), from €156,997 to €89,958
- Current investments +€10,000
up €10,000 (+6.5%), from €154,111 to €164,111
- Reserves -€217,864
down €217,864 (-30.3%), from €719,214 to €501,350
- Other debts +€62,370
up €62,370 (+71.2%), from €87,630 to €150,000
- Debts after one year -€20,000
down €20,000 (-42.9%), from €46,667 to €26,667
- Trade debts +€10,899
up €10,899 (+59.2%), from €18,417 to €29,316
- Gross operating margin -€105,545
down €105,545, from €89,380 to -€16,165
- Other operating charges +€16,246
up €16,246 (+901%), from €1,804 to €18,051
- Taxes -€11,947
down €11,947 (-98.9%), from €12,078 to €131
- Financial income -€5,808
down €5,808 (-67.2%), from €8,643 to €2,835
- Depreciation -€4,731
down €4,731 (-12.8%), from €36,829 to €32,098
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 | €928,841 | €755,934 | -€172,907 | -18.6% |
| Fixed assets | 21/28 | €156,997 | €89,958 | -€67,039 | -42.7% |
| Tangible fixed assets | 22/27 | €156,997 | €89,958 | -€67,039 | -42.7% |
| Furniture and vehicles | 24 | €156,997 | €89,958 | -€67,039 | -42.7% |
| Current assets | 29/58 | €771,843 | €665,976 | -€105,868 | -13.7% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €135,755 | €315,767 | +€180,012 | +133% |
| Trade receivables | 40 | €110,009 | €170,531 | +€60,523 | +55.0% |
| Other amounts receivable | 41 | €25,747 | €145,236 | +€119,489 | +464% |
| Current investments | 50/53 | €154,111 | €164,111 | +€10,000 | +6.5% |
| Cash at bank and in hand | 54/58 | €328,568 | €38,662 | -€289,905 | -88.2% |
| Deferred charges and accrued income | 490/1 | €53,409 | €47,434 | -€5,975 | -11.2% |
| Total equity and liabilities | 10/49 | €928,841 | €755,934 | -€172,907 | -18.6% |
| Equity | 10/15 | €731,714 | €513,850 | -€217,864 | -29.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €719,214 | €501,350 | -€217,864 | -30.3% |
| Distributable reserves | 133 | €719,214 | €501,350 | -€217,864 | -30.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,127 | €242,084 | +€44,957 | +22.8% |
| Amounts payable after more than one year | 17 | €46,667 | €26,667 | -€20,000 | -42.9% |
| Financial debts | 170/4 | €46,667 | €26,667 | -€20,000 | -42.9% |
| Amounts payable within one year | 42/48 | €150,460 | €215,417 | +€64,957 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €20,000 | €20,000 | = | 0.0% |
| Trade debts | 44 | €18,417 | €29,316 | +€10,899 | +59.2% |
| Suppliers | 440/4 | €18,417 | €29,316 | +€10,899 | +59.2% |
| Taxes, remuneration and social security | 45 | €24,413 | €16,101 | -€8,312 | -34.0% |
| Taxes | 450/3 | €24,413 | €16,101 | -€8,312 | -34.0% |
| Other amounts payable | 47/48 | €87,630 | €150,000 | +€62,370 | +71.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €36,166 | €0 | -€36,166 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,829 | €32,098 | -€4,731 | -12.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €781 | €0 | -€781 | -100% |
| Other operating charges | 640/8 | €1,804 | €18,051 | +€16,246 | +901% |
| Gross operating margin | 9900 | €89,380 | -€16,165 | -€105,545 | |
| Operating profit (loss) | 9901 | €49,965 | -€66,314 | -€116,279 | |
| Financial income | 75/76B | €8,643 | €2,835 | -€5,808 | -67.2% |
| Recurring financial income | 75 | €8,643 | €2,835 | -€5,808 | -67.2% |
| Financial charges | 65/66B | €5,353 | €4,254 | -€1,099 | -20.5% |
| Recurring financial charges | 65 | €5,353 | €4,254 | -€1,099 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €53,255 | -€67,733 | -€120,989 | |
| Income taxes | 67/77 | €12,078 | €131 | -€11,947 | -98.9% |
| Profit (loss) for the period | 9904 | €41,177 | -€67,864 | -€109,041 | |
| Profit (loss) for the period to be appropriated | 9905 | €41,177 | -€67,864 | -€109,041 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.