THG Liège: 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.
What changed
THG Liège
NACE 69.201, Certified accountants and tax accountants
financial year 31-12-2025 compared with 31-12-2024filed annual accounts (NBB)
Net result for the year
€72,740
31-12-2024 · €34,297+€38,443
Equity
€917,485
31-12-2024 · €904,745+€12,740
Cash
€225,360
31-12-2024 · €168,676+€56,684
Balance sheet total
€2.0m
31-12-2024 · €1.9m+€8,953
Largest movements
Assets
- Cash +€56,684
up €56,684 (+33.6%), from €168,676 to €225,360
mainly Net result for the year (+€72,740) and Other debts (+€66,444)
- Receivables within one year -€45,878
down €45,878 (-9.0%), from €510,158 to €464,281
of which Trade receivables: -€58,871
Equity and liabilities
- Trade debts -€101,309
down €101,309 (-49.7%), from €203,924 to €102,615
- Other debts +€66,444
up €66,444 (+62.6%), from €106,222 to €172,666
- Tax, wage and social debts +€51,452
up €51,452 (+32.4%), from €158,794 to €210,246
of which Taxes: +€41,322
Income statement
- Gross operating margin +€23,512
up €23,512 (+3.3%), from €708,435 to €731,947
- Write-downs -€18,510
down €18,510 (-58.9%), from €31,448 to €12,938
- Financial charges -€13,708
down €13,708 (-36.5%), from €37,566 to €23,857
- Other operating charges +€13,224
up €13,224 (+168%), from €7,852 to €21,076
- Staff costs +€12,663
up €12,663 (+2.4%), from €522,749 to €535,412
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
€34,297
Gross operating margin
+€23,512
Staff costs
-€12,663
Depreciation
+€3,479
Write-downs
+€18,510
Other operating charges
-€13,224
Other operating items
+€16,588
Financial income
-€64
Financial charges
+€13,708
Taxes
-€11,405
Result 31-12-2025
€72,740
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€146,477
Investment
-€12,690
Financing
-€77,102
Cash 31-12-2024
€168,676
From operations (derived)
+€146,477
Net result for the year
+€72,740
Depreciation
+€21,694
Receivables within one year
+€45,878
Deferred charges and accrued income
-€7,150
Trade debts
-€101,309
Tax, wage and social debts
+€51,452
Other debts
+€66,444
Accrued charges and deferred income
-€3,272
Investment (derived)
-€12,690
Investment in fixed assets (net)
-€10,690
Current investments
-€2,000
Financing
-€77,102
Debts after one year
-€12,052
Current portion of long-term debt
-€5,016
Short-term financial debts
-€34
Contributions, distributions and other
-€60,000
Cash 31-12-2025
€225,360
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,941,597 | €1,950,550 | +€8,953 | +0.5% |
| Fixed assets | 21/28 | €1,243,459 | €1,232,455 | -€11,003 | -0.9% |
| Intangible fixed assets | 21 | €1,198,331 | €1,198,331 | = | 0.0% |
| Tangible fixed assets | 22/27 | €43,128 | €34,124 | -€9,003 | -20.9% |
| Furniture and vehicles | 24 | €35,442 | €15,734 | -€19,708 | -55.6% |
| Other tangible fixed assets | 26 | €7,686 | €9,109 | +€1,423 | +18.5% |
| Assets under construction and advance payments | 27 | - | €9,281 | +€9,281 | |
| Financial fixed assets | 28 | €2,000 | €0 | -€2,000 | -100% |
| Current assets | 29/58 | €698,138 | €718,095 | +€19,957 | +2.9% |
| Amounts receivable within one year | 40/41 | €510,158 | €464,281 | -€45,878 | -9.0% |
| Trade receivables | 40 | €509,486 | €450,615 | -€58,871 | -11.6% |
| Other amounts receivable | 41 | €673 | €13,666 | +€12,993 | +1,931% |
| Current investments | 50/53 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €168,676 | €225,360 | +€56,684 | +33.6% |
| Deferred charges and accrued income | 490/1 | €19,304 | €26,454 | +€7,150 | +37.0% |
| Total equity and liabilities | 10/49 | €1,941,597 | €1,950,550 | +€8,953 | +0.5% |
| Equity | 10/15 | €904,745 | €917,485 | +€12,740 | +1.4% |
| Contributions | 10/11 | €73,400 | €73,400 | = | 0.0% |
| Reserves | 13 | €182,280 | €182,280 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,580 | €8,580 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,580 | €8,580 | = | 0.0% |
| Distributable reserves | 133 | €173,700 | €173,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | €649,066 | €661,806 | +€12,740 | +2.0% |
| Amounts payable | 17/49 | €1,036,851 | €1,033,065 | -€3,786 | -0.4% |
| Amounts payable after more than one year | 17 | €409,660 | €397,608 | -€12,052 | -2.9% |
| Financial debts | 170/4 | €409,660 | €397,608 | -€12,052 | -2.9% |
| Amounts payable within one year | 42/48 | €557,307 | €568,844 | +€11,537 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €17,068 | €12,052 | -€5,016 | -29.4% |
| Financial debts | 43 | €71,300 | €71,266 | -€34 | 0.0% |
| Credit institutions | 430/8 | €71,300 | €71,266 | -€34 | 0.0% |
| Trade debts | 44 | €203,924 | €102,615 | -€101,309 | -49.7% |
| Suppliers | 440/4 | €203,924 | €102,615 | -€101,309 | -49.7% |
| Taxes, remuneration and social security | 45 | €158,794 | €210,246 | +€51,452 | +32.4% |
| Taxes | 450/3 | €87,287 | €128,610 | +€41,322 | +47.3% |
| Remuneration and social security | 454/9 | €71,506 | €81,636 | +€10,130 | +14.2% |
| Other amounts payable | 47/48 | €106,222 | €172,666 | +€66,444 | +62.6% |
| Accrued charges and deferred income | 492/3 | €69,884 | €66,612 | -€3,272 | -4.7% |
| Non-recurring operating income | 76A | €2,978 | €5,244 | +€2,266 | +76.1% |
| Remuneration, social security and pensions | 62 | €522,749 | €535,412 | +€12,663 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,173 | €21,694 | -€3,479 | -13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,448 | €12,938 | -€18,510 | -58.9% |
| Other operating charges | 640/8 | €7,852 | €21,076 | +€13,224 | +168% |
| Non-recurring operating charges | 66A | €16,800 | €212 | -€16,588 | -98.7% |
| Gross operating margin | 9900 | €708,435 | €731,947 | +€23,512 | +3.3% |
| Operating profit (loss) | 9901 | €104,413 | €140,616 | +€36,203 | +34.7% |
| Financial income | 75/76B | €441 | €377 | -€64 | -14.5% |
| Recurring financial income | 75 | €441 | €377 | -€64 | -14.5% |
| Financial charges | 65/66B | €37,566 | €23,857 | -€13,708 | -36.5% |
| Recurring financial charges | 65 | €37,566 | €23,857 | -€13,708 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | €67,288 | €117,136 | +€49,848 | +74.1% |
| Income taxes | 67/77 | €32,991 | €44,396 | +€11,405 | +34.6% |
| Profit (loss) for the period | 9904 | €34,297 | €72,740 | +€38,443 | +112% |
| Profit (loss) for the period to be appropriated | 9905 | €34,297 | €72,740 | +€38,443 | +112% |
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 17 October 2026 via checked.be.