THB7: what changed
THB7
Largest movements
- Tangible fixed assets -€41,833
down €41,833 (-30.0%), from €139,566 to €97,733
of which Other tangible fixed assets: -€39,737
- Receivables within one year -€17,030
down €17,030 (-95.5%), from €17,841 to €811
of which Other amounts receivable: -€17,500
- Stocks and contracts +€4,399
up €4,399 (+69.2%), from €6,357 to €10,756
- Cash -€2,658
down €2,658 (-49.6%), from €5,359 to €2,701
mainly Debts after one year (-€58,013) and Current portion of long-term debt (-€35,347)
- Intangible fixed assets -€2,500
down €2,500 (-35.3%), from €7,083 to €4,583
- Trade debts +€60,619
up €60,619 (+12.7%), from €476,490 to €537,109
- Debts after one year -€58,013
down €58,013 (-20.4%), from €283,746 to €225,732
- Current portion of long-term debt -€35,347
down €35,347 (-95.3%), from €37,081 to €1,735
- Profit (loss) carried forward -€34,523
down €34,523 (-4.0%), from -€859,400 to -€893,922
- Short-term financial debts +€14,715
up €14,715 (+148%), from €9,944 to €24,659
- Financial charges +€16,289
up €16,289 (+81.7%), from €19,941 to €36,230
- Staff costs +€10,143
up €10,143 (+3.0%), from €342,402 to €352,546
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,388 | €118,158 | -€60,230 | -33.8% |
| Fixed assets | 21/28 | €147,364 | €103,171 | -€44,193 | -30.0% |
| Intangible fixed assets | 21 | €7,083 | €4,583 | -€2,500 | -35.3% |
| Tangible fixed assets | 22/27 | €139,566 | €97,733 | -€41,833 | -30.0% |
| Plant, machinery and equipment | 23 | €10,878 | €8,810 | -€2,068 | -19.0% |
| Furniture and vehicles | 24 | €8,689 | €8,660 | -€28 | -0.3% |
| Other tangible fixed assets | 26 | €120,000 | €80,263 | -€39,737 | -33.1% |
| Financial fixed assets | 28 | €714 | €854 | +€140 | +19.6% |
| Current assets | 29/58 | €31,024 | €14,988 | -€16,037 | -51.7% |
| Stocks and contracts in progress | 3 | €6,357 | €10,756 | +€4,399 | +69.2% |
| Stocks | 30/36 | €6,357 | €10,756 | +€4,399 | +69.2% |
| Amounts receivable within one year | 40/41 | €17,841 | €811 | -€17,030 | -95.5% |
| Trade receivables | 40 | €341 | €811 | +€470 | +138% |
| Other amounts receivable | 41 | €17,500 | - | -€17,500 | |
| Cash at bank and in hand | 54/58 | €5,359 | €2,701 | -€2,658 | -49.6% |
| Deferred charges and accrued income | 490/1 | €1,467 | €719 | -€748 | -51.0% |
| Total equity and liabilities | 10/49 | €178,388 | €118,158 | -€60,230 | -33.8% |
| Equity | 10/15 | -€677,356 | -€717,543 | -€40,187 | -5.9% |
| Contributions | 10/11 | €166,000 | €166,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€859,400 | -€893,922 | -€34,523 | -4.0% |
| Investment grants | 15 | €16,044 | €10,379 | -€5,664 | -35.3% |
| Amounts payable | 17/49 | €855,744 | €835,701 | -€20,043 | -2.3% |
| Amounts payable after more than one year | 17 | €283,746 | €225,732 | -€58,013 | -20.4% |
| Financial debts | 170/4 | €283,746 | €225,732 | -€58,013 | -20.4% |
| Amounts payable within one year | 42/48 | €571,999 | €609,969 | +€37,970 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €37,081 | €1,735 | -€35,347 | -95.3% |
| Financial debts | 43 | €9,944 | €24,659 | +€14,715 | +148% |
| Credit institutions | 430/8 | €9,944 | €24,659 | +€14,715 | +148% |
| Trade debts | 44 | €476,490 | €537,109 | +€60,619 | +12.7% |
| Suppliers | 440/4 | €476,490 | €537,109 | +€60,619 | +12.7% |
| Taxes, remuneration and social security | 45 | €48,483 | €46,466 | -€2,017 | -4.2% |
| Taxes | 450/3 | €10,250 | €8,339 | -€1,910 | -18.6% |
| Remuneration and social security | 454/9 | €38,233 | €38,127 | -€107 | -0.3% |
| Non-recurring operating income | 76A | €17,500 | - | -€17,500 | |
| Remuneration, social security and pensions | 62 | €342,402 | €352,546 | +€10,143 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,449 | €49,432 | +€982 | +2.0% |
| Other operating charges | 640/8 | €1,674 | €625 | -€1,048 | -62.6% |
| Gross operating margin | 9900 | €402,843 | €404,310 | +€1,467 | +0.4% |
| Operating profit (loss) | 9901 | €10,318 | €1,708 | -€8,611 | -83.5% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.8% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.8% |
| Financial charges | 65/66B | €19,941 | €36,230 | +€16,289 | +81.7% |
| Recurring financial charges | 65 | €19,941 | €36,230 | +€16,289 | +81.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,618 | -€34,523 | -€24,905 | -259% |
| Profit (loss) for the period | 9904 | -€9,618 | -€34,523 | -€24,905 | -259% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,618 | -€34,523 | -€24,905 | -259% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.