THG Eupen: 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.
THG Eupen
Largest movements
- Current investments -€450,000
no longer reported in 2025 (was €450,000)
- Cash -€198,408
down €198,408 (-66.7%), from €297,503 to €99,096
mainly Other debts (-€757,412) and Contributions, distributions and other (-€100,000)
- Intangible fixed assets -€48,342
down €48,342 (-46.6%), from €103,834 to €55,492
- Receivables within one year +€44,603
up €44,603 (+19.5%), from €228,843 to €273,446
of which Trade receivables: +€58,995
- Other debts -€757,412
down €757,412 (-95.0%), from €797,443 to €40,032
- Debts after one year +€194,046
up €194,046 (+51.3%), from €378,515 to €572,561
of which Financial debts: +€194,046
- Contributions -€100,000
down €100,000 (-55.6%), from €180,000 to €80,000
- Tax, wage and social debts -€49,278
down €49,278 (-29.0%), from €169,945 to €120,667
of which Taxes: -€62,828
- Short-term financial debts +€43,950
new in 2025: €43,950
- Gross operating margin -€264,135
down €264,135 (-28.3%), from €934,916 to €670,780
- Financial income -€172,246
down €172,246 (-95.0%), from €181,329 to €9,083
of which Non-recurring financial income: -€175,000
- Taxes -€27,435
down €27,435 (-49.3%), from €55,654 to €28,219
- Write-downs -€19,386
down €19,386, from €13,764 to -€5,622
- Other operating charges +€12,724
up €12,724 (+120.3%), from €10,573 to €23,296
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 | €1,716,812 | €1,070,452 | -€646,359 | -37.6% |
| Fixed assets | 21/28 | €695,276 | €660,662 | -€34,614 | -5.0% |
| Intangible fixed assets | 21 | €103,834 | €55,492 | -€48,342 | -46.6% |
| Tangible fixed assets | 22/27 | €577,485 | €578,453 | +€968 | +0.2% |
| Land and buildings | 22 | €505,916 | €467,567 | -€38,349 | -7.6% |
| Plant, machinery and equipment | 23 | - | €6,322 | +€6,322 | |
| Furniture and vehicles | 24 | €35,207 | €59,053 | +€23,846 | +67.7% |
| Leasing and similar rights | 25 | €36,362 | €45,510 | +€9,148 | +25.2% |
| Financial fixed assets | 28 | €13,957 | €26,717 | +€12,760 | +91.4% |
| Current assets | 29/58 | €1,021,536 | €409,791 | -€611,745 | -59.9% |
| Amounts receivable within one year | 40/41 | €228,843 | €273,446 | +€44,603 | +19.5% |
| Trade receivables | 40 | €214,387 | €273,382 | +€58,995 | +27.5% |
| Other amounts receivable | 41 | €14,456 | €64 | -€14,392 | -99.6% |
| Current investments | 50/53 | €450,000 | - | -€450,000 | |
| Cash at bank and in hand | 54/58 | €297,503 | €99,096 | -€198,408 | -66.7% |
| Deferred charges and accrued income | 490/1 | €45,189 | €37,249 | -€7,940 | -17.6% |
| Total equity and liabilities | 10/49 | €1,716,812 | €1,070,452 | -€646,359 | -37.6% |
| Equity | 10/15 | €237,108 | €129,880 | -€107,228 | -45.2% |
| Contributions | 10/11 | €180,000 | €80,000 | -€100,000 | -55.6% |
| Capital | 10 | €180,000 | €80,000 | -€100,000 | -55.6% |
| Issued capital | 100 | €180,000 | €80,000 | -€100,000 | -55.6% |
| Reserves | 13 | €46,580 | €38,369 | -€8,211 | -17.6% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,580 | €369 | -€8,211 | -95.7% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,528 | €11,511 | +€983 | +9.3% |
| Provisions and deferred taxes | 16 | €2,860 | €123 | -€2,737 | -95.7% |
| Deferred taxes | 168 | €2,860 | €123 | -€2,737 | -95.7% |
| Amounts payable | 17/49 | €1,476,844 | €940,450 | -€536,395 | -36.3% |
| Amounts payable after more than one year | 17 | €378,515 | €572,561 | +€194,046 | +51.3% |
| Financial debts | 170/4 | €375,974 | €570,020 | +€194,046 | +51.6% |
| Other amounts payable | 178/9 | €2,541 | €2,541 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,095,527 | €365,340 | -€730,187 | -66.7% |
| Current portion of amounts payable after more than one year | 42 | €53,442 | €62,367 | +€8,926 | +16.7% |
| Financial debts | 43 | - | €43,950 | +€43,950 | |
| Credit institutions | 430/8 | - | €43,950 | +€43,950 | |
| Trade debts | 44 | €74,698 | €98,324 | +€23,627 | +31.6% |
| Suppliers | 440/4 | €74,698 | €98,324 | +€23,627 | +31.6% |
| Taxes, remuneration and social security | 45 | €169,945 | €120,667 | -€49,278 | -29.0% |
| Taxes | 450/3 | €103,589 | €40,761 | -€62,828 | -60.7% |
| Remuneration and social security | 454/9 | €66,356 | €79,906 | +€13,550 | +20.4% |
| Other amounts payable | 47/48 | €797,443 | €40,032 | -€757,412 | -95.0% |
| Accrued charges and deferred income | 492/3 | €2,802 | €2,548 | -€254 | -9.1% |
| Non-recurring operating income | 76A | €15,502 | €5,081 | -€10,421 | -67.2% |
| Remuneration, social security and pensions | 62 | €497,356 | €484,634 | -€12,722 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,896 | €130,132 | +€3,236 | +2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,764 | -€5,622 | -€19,386 | |
| Other operating charges | 640/8 | €10,573 | €23,296 | +€12,724 | +120.3% |
| Non-recurring operating charges | 66A | - | €150 | +€150 | |
| Gross operating margin | 9900 | €934,916 | €670,780 | -€264,135 | -28.3% |
| Operating profit (loss) | 9901 | €286,327 | €38,189 | -€248,138 | -86.7% |
| Financial income | 75/76B | €181,329 | €9,083 | -€172,246 | -95.0% |
| Recurring financial income | 75 | €6,329 | €9,083 | +€2,754 | +43.5% |
| Non-recurring financial income | 76B | €175,000 | - | -€175,000 | |
| Financial charges | 65/66B | €24,605 | €29,018 | +€4,413 | +17.9% |
| Recurring financial charges | 65 | €24,605 | €29,018 | +€4,413 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €443,051 | €18,254 | -€424,797 | -95.9% |
| Transfer from deferred taxes | 780 | €4,200 | €2,737 | -€1,463 | -34.8% |
| Income taxes | 67/77 | €55,654 | €28,219 | -€27,435 | -49.3% |
| Profit (loss) for the period | 9904 | €391,598 | -€7,228 | -€398,825 | |
| Transfer from tax-exempt reserves | 789 | €12,601 | €8,211 | -€4,390 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €404,199 | €983 | -€403,216 | -99.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.