THG GRAND LIEGE: 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.
THG GRAND LIEGE
Largest movements
- Receivables within one year -€65,893
down €65,893 (-82.6%), from €79,814 to €13,920
of which Trade receivables: -€79,650
- Debts after one year -€154,452
down €154,452 (-18.0%), from €860,399 to €705,947
- Profit (loss) carried forward +€129,258
up €129,258 (+28.0%), from €462,438 to €591,696
- Tax, wage and social debts -€50,255
down €50,255 (-79.6%), from €63,129 to €12,874
- Trade debts +€23,944
up €23,944 (+59.4%), from €40,296 to €64,239
- Gross operating margin -€19,595
down €19,595 (-9.3%), from €210,923 to €191,329
- Taxes -€4,208
down €4,208 (-8.8%), from €47,879 to €43,671
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 | €1,832,983 | €1,768,074 | -€64,910 | -3.5% |
| Formation expenses | 20 | €359 | €119 | -€240 | -66.9% |
| Fixed assets | 21/28 | €1,720,000 | €1,736,000 | +€16,000 | +0.9% |
| Financial fixed assets | 28 | €1,720,000 | €1,736,000 | +€16,000 | +0.9% |
| Current assets | 29/58 | €112,624 | €31,955 | -€80,670 | -71.6% |
| Amounts receivable within one year | 40/41 | €79,814 | €13,920 | -€65,893 | -82.6% |
| Trade receivables | 40 | €79,776 | €126 | -€79,650 | -99.8% |
| Other amounts receivable | 41 | €37 | €13,795 | +€13,757 | +36,735% |
| Cash at bank and in hand | 54/58 | €32,811 | €17,978 | -€14,833 | -45.2% |
| Deferred charges and accrued income | 490/1 | - | €57 | +€57 | |
| Total equity and liabilities | 10/49 | €1,832,983 | €1,768,074 | -€64,910 | -3.5% |
| Equity | 10/15 | €662,438 | €791,696 | +€129,258 | +19.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €462,438 | €591,696 | +€129,258 | +28.0% |
| Amounts payable | 17/49 | €1,170,545 | €976,378 | -€194,168 | -16.6% |
| Amounts payable after more than one year | 17 | €860,399 | €705,947 | -€154,452 | -18.0% |
| Financial debts | 170/4 | €860,399 | €705,947 | -€154,452 | -18.0% |
| Amounts payable within one year | 42/48 | €300,551 | €262,355 | -€38,195 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €152,972 | €154,452 | +€1,480 | +1.0% |
| Financial debts | 43 | €22,968 | €15,162 | -€7,806 | -34.0% |
| Credit institutions | 430/8 | €22,968 | €15,162 | -€7,806 | -34.0% |
| Trade debts | 44 | €40,296 | €64,239 | +€23,944 | +59.4% |
| Suppliers | 440/4 | €40,296 | €64,239 | +€23,944 | +59.4% |
| Taxes, remuneration and social security | 45 | €63,129 | €12,874 | -€50,255 | -79.6% |
| Taxes | 450/3 | €63,129 | €12,874 | -€50,255 | -79.6% |
| Other amounts payable | 47/48 | €21,186 | €15,628 | -€5,558 | -26.2% |
| Accrued charges and deferred income | 492/3 | €9,596 | €8,075 | -€1,520 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240 | €240 | = | 0.0% |
| Other operating charges | 640/8 | €1,130 | €1,170 | +€41 | +3.6% |
| Gross operating margin | 9900 | €210,923 | €191,329 | -€19,595 | -9.3% |
| Operating profit (loss) | 9901 | €209,554 | €189,918 | -€19,636 | -9.4% |
| Financial income | 75/76B | - | €57 | +€57 | |
| Recurring financial income | 75 | - | €57 | +€57 | |
| Financial charges | 65/66B | €18,040 | €17,046 | -€994 | -5.5% |
| Recurring financial charges | 65 | €18,040 | €17,046 | -€994 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €191,514 | €172,929 | -€18,585 | -9.7% |
| Income taxes | 67/77 | €47,879 | €43,671 | -€4,208 | -8.8% |
| Profit (loss) for the period | 9904 | €143,636 | €129,258 | -€14,378 | -10.0% |
| Profit (loss) for the period to be appropriated | 9905 | €143,636 | €129,258 | -€14,378 | -10.0% |
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 27 October 2026 via checked.be.