Thegro: 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.
Thegro
Largest movements
- Tangible fixed assets +€19,639
up €19,639 (+30.7%), from €64,013 to €83,652
of which Leasing and similar rights: +€33,611
- Receivables within one year +€9,912
up €9,912 (+102.5%), from €9,674 to €19,585
of which Trade receivables: +€17,393
- Cash -€3,657
down €3,657 (-91.6%), from €3,991 to €335
mainly Investment in fixed assets (net) (-€37,113) and Receivables within one year (-€9,912)
- Debts after one year +€10,788
up €10,788 (+22.7%), from €47,451 to €58,240
- Trade debts -€8,070
down €8,070 (-88.7%), from €9,098 to €1,028
- Current portion of long-term debt +€7,196
up €7,196 (+56.4%), from €12,762 to €19,958
- Reserves +€6,650
up €6,650 (+1206.3%), from €551 to €7,201
- Tax, wage and social debts +€5,192
up €5,192 (+3767.3%), from €138 to €5,330
- Gross operating margin +€25,024
up €25,024 (+410.5%), from €6,096 to €31,120
- Depreciation +€14,254
up €14,254 (+443.3%), from €3,215 to €17,469
- Financial charges +€4,014
up €4,014 (+327.7%), from €1,225 to €5,239
- Taxes +€1,036
up €1,036 (+751.5%), from €138 to €1,174
- Write-downs -€530
down €530 (-100.0%), from €530 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,984 | €105,274 | +€26,290 | +33.3% |
| Fixed assets | 21/28 | €64,013 | €83,657 | +€19,644 | +30.7% |
| Tangible fixed assets | 22/27 | €64,013 | €83,652 | +€19,639 | +30.7% |
| Furniture and vehicles | 24 | €41,201 | €27,229 | -€13,972 | -33.9% |
| Leasing and similar rights | 25 | €22,812 | €56,423 | +€33,611 | +147.3% |
| Financial fixed assets | 28 | - | €5 | +€5 | |
| Current assets | 29/58 | €14,971 | €21,617 | +€6,646 | +44.4% |
| Amounts receivable within one year | 40/41 | €9,674 | €19,585 | +€9,912 | +102.5% |
| Trade receivables | 40 | €726 | €18,119 | +€17,393 | +2395.7% |
| Other amounts receivable | 41 | €8,948 | €1,466 | -€7,481 | -83.6% |
| Cash at bank and in hand | 54/58 | €3,991 | €335 | -€3,657 | -91.6% |
| Deferred charges and accrued income | 490/1 | €1,306 | €1,697 | +€391 | +29.9% |
| Total equity and liabilities | 10/49 | €78,984 | €105,274 | +€26,290 | +33.3% |
| Equity | 10/15 | €3,551 | €10,201 | +€6,650 | +187.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €551 | €7,201 | +€6,650 | +1206.3% |
| Distributable reserves | 133 | €551 | €7,201 | +€6,650 | +1206.3% |
| Amounts payable | 17/49 | €75,433 | €95,073 | +€19,640 | +26.0% |
| Amounts payable after more than one year | 17 | €47,451 | €58,240 | +€10,788 | +22.7% |
| Financial debts | 170/4 | €47,451 | €58,240 | +€10,788 | +22.7% |
| Amounts payable within one year | 42/48 | €27,982 | €36,834 | +€8,852 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | €12,762 | €19,958 | +€7,196 | +56.4% |
| Trade debts | 44 | €9,098 | €1,028 | -€8,070 | -88.7% |
| Suppliers | 440/4 | €9,098 | €1,028 | -€8,070 | -88.7% |
| Taxes, remuneration and social security | 45 | €138 | €5,330 | +€5,192 | +3767.3% |
| Taxes | 450/3 | €138 | €5,330 | +€5,192 | +3767.3% |
| Other amounts payable | 47/48 | €5,984 | €10,518 | +€4,534 | +75.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,215 | €17,469 | +€14,254 | +443.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €530 | €0 | -€530 | -100.0% |
| Other operating charges | 640/8 | €437 | €117 | -€320 | -73.3% |
| Non-recurring operating charges | 66A | - | €472 | +€472 | |
| Gross operating margin | 9900 | €6,096 | €31,120 | +€25,024 | +410.5% |
| Operating profit (loss) | 9901 | €1,914 | €13,062 | +€11,148 | +582.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | +600.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +600.0% |
| Financial charges | 65/66B | €1,225 | €5,239 | +€4,014 | +327.7% |
| Recurring financial charges | 65 | €1,225 | €5,239 | +€4,014 | +327.7% |
| Profit (loss) for the period before taxes | 9903 | €689 | €7,823 | +€7,134 | +1035.4% |
| Income taxes | 67/77 | €138 | €1,174 | +€1,036 | +751.5% |
| Profit (loss) for the period | 9904 | €551 | €6,650 | +€6,099 | +1106.3% |
| Profit (loss) for the period to be appropriated | 9905 | €551 | €6,650 | +€6,099 | +1106.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.