THC CONSTRUCT: 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.
THC CONSTRUCT
Largest movements
- Tangible fixed assets -€5,141
no longer reported in 2025 (was €5,141)
- Receivables within one year +€4,758
up €4,758 (+1.5%), from €326,369 to €331,127
of which Other amounts receivable: +€3,259
- Trade debts -€159,605
down €159,605 (-48.4%), from €329,746 to €170,141
- Tax, wage and social debts +€80,181
up €80,181 (+1455.4%), from €5,509 to €85,690
of which Remuneration and social security: +€62,585
- Other debts +€55,654
up €55,654 (+323.8%), from €17,189 to €72,842
- Profit (loss) carried forward +€17,531
up €17,531 (+52.3%), from €33,506 to €51,037
- Advances received +€8,400
new in 2025: €8,400
- Gross operating margin +€21,523
up €21,523 (+158.9%), from €13,546 to €35,068
- Taxes +€5,388
up €5,388 (+232.7%), from €2,316 to €7,704
- Depreciation -€1,802
down €1,802 (-26.0%), from €6,943 to €5,141
- Other operating charges +€1,500
up €1,500 (+427.4%), from €351 to €1,851
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 | €410,484 | €410,101 | -€383 | -0.1% |
| Fixed assets | 21/28 | €6,441 | €1,300 | -€5,141 | -79.8% |
| Tangible fixed assets | 22/27 | €5,141 | - | -€5,141 | |
| Furniture and vehicles | 24 | €5,141 | - | -€5,141 | |
| Financial fixed assets | 28 | €1,300 | €1,300 | = | 0.0% |
| Current assets | 29/58 | €404,043 | €408,801 | +€4,758 | +1.2% |
| Amounts receivable after more than one year | 29 | €69,700 | €69,700 | = | 0.0% |
| Trade receivables | 290 | €69,700 | €69,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €326,369 | €331,127 | +€4,758 | +1.5% |
| Trade receivables | 40 | €315,062 | €316,561 | +€1,499 | +0.5% |
| Other amounts receivable | 41 | €11,307 | €14,566 | +€3,259 | +28.8% |
| Cash at bank and in hand | 54/58 | €7,974 | €7,974 | = | 0.0% |
| Total equity and liabilities | 10/49 | €410,484 | €410,101 | -€383 | -0.1% |
| Equity | 10/15 | €41,566 | €59,097 | +€17,531 | +42.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,506 | €51,037 | +€17,531 | +52.3% |
| Amounts payable | 17/49 | €368,918 | €351,004 | -€17,914 | -4.9% |
| Amounts payable within one year | 42/48 | €368,918 | €351,004 | -€17,914 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €1,106 | - | -€1,106 | |
| Financial debts | 43 | €15,369 | €13,930 | -€1,438 | -9.4% |
| Credit institutions | 430/8 | €15,369 | €13,930 | -€1,438 | -9.4% |
| Trade debts | 44 | €329,746 | €170,141 | -€159,605 | -48.4% |
| Suppliers | 440/4 | €329,746 | €170,141 | -€159,605 | -48.4% |
| Advances received on contracts in progress | 46 | - | €8,400 | +€8,400 | |
| Taxes, remuneration and social security | 45 | €5,509 | €85,690 | +€80,181 | +1455.4% |
| Taxes | 450/3 | €5,509 | €23,105 | +€17,596 | +319.4% |
| Remuneration and social security | 454/9 | - | €62,585 | +€62,585 | |
| Other amounts payable | 47/48 | €17,189 | €72,842 | +€55,654 | +323.8% |
| Non-recurring operating income | 76A | €4,621 | - | -€4,621 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,943 | €5,141 | -€1,802 | -26.0% |
| Other operating charges | 640/8 | €351 | €1,851 | +€1,500 | +427.4% |
| Gross operating margin | 9900 | €13,546 | €35,068 | +€21,523 | +158.9% |
| Operating profit (loss) | 9901 | €6,252 | €28,076 | +€21,825 | +349.1% |
| Financial income | 75/76B | €108 | - | -€108 | |
| Recurring financial income | 75 | €108 | - | -€108 | |
| Financial charges | 65/66B | €2,910 | €2,841 | -€70 | -2.4% |
| Recurring financial charges | 65 | €2,910 | €2,841 | -€70 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €3,449 | €25,236 | +€21,786 | +631.6% |
| Income taxes | 67/77 | €2,316 | €7,704 | +€5,388 | +232.7% |
| Profit (loss) for the period | 9904 | €1,134 | €17,531 | +€16,398 | +1446.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,134 | €17,531 | +€16,398 | +1446.7% |
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 10 October 2026 via checked.be.