THG NAMUR: what changed
What changed
THG NAMUR
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€321,877
2024 · €311,470+€10,407
Equity
€757,933
2024 · €699,436+€58,497
Cash
€79,394
2024 · €40,863+€38,531
Balance sheet total
€1.6m
2024 · €1.5m+€123,182
Largest movements
Assets
- Tangible fixed assets +€145,425
up €145,425 (+18.5%), from €784,190 to €929,615
of which Plant, machinery and equipment: +€171,537
- Intangible fixed assets -€60,426
down €60,426 (-29.1%), from €207,644 to €147,218
- Cash +€38,531
up €38,531 (+94.3%), from €40,863 to €79,394
mainly Net result for the year (+€321,877) and Depreciation (+€104,540)
Equity and liabilities
- Debts after one year +€73,691
up €73,691 (+36.6%), from €201,533 to €275,224
- Profit (loss) carried forward +€58,497
up €58,497 (+37.9%), from €154,308 to €212,805
- Other debts -€39,887
down €39,887 (-13.2%), from €301,411 to €261,524
- Current portion of long-term debt +€24,445
up €24,445 (+35.6%), from €68,665 to €93,110
Income statement
No income-statement line moved by more than 1% of the activity.
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€311,470
Gross operating margin
+€11,533
Staff costs
+€8,283
Depreciation
-€4,780
Write-downs
-€8,849
Other operating charges
-€1,570
Financial income
-€1,667
Financial charges
+€5,438
Taxes
+€2,019
Result 2025
€321,877
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€396,732
Investment
-€189,540
Financing
-€168,661
Cash 2024
€40,863
From operations (derived)
+€396,732
Net result for the year
+€321,877
Depreciation
+€104,540
Receivables within one year
+€2,443
Deferred charges and accrued income
-€2,095
Trade debts
+€13,849
Tax, wage and social debts
-€5,997
Advances received
+€1,250
Other debts
-€39,887
Accrued charges and deferred income
+€751
Investment (derived)
-€189,540
Investment in fixed assets (net)
-€189,540
Financing
-€168,661
Debts after one year
+€73,691
Current portion of long-term debt
+€24,445
Short-term financial debts
-€3,418
Contributions, distributions and other
-€263,380
Cash 2025
€79,394
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,466,736 | €1,589,919 | +€123,182 | +8.4% |
| Fixed assets | 21/28 | €993,834 | €1,078,834 | +€85,000 | +8.6% |
| Intangible fixed assets | 21 | €207,644 | €147,218 | -€60,426 | -29.1% |
| Tangible fixed assets | 22/27 | €784,190 | €929,615 | +€145,425 | +18.5% |
| Land and buildings | 22 | €743,735 | €718,208 | -€25,527 | -3.4% |
| Plant, machinery and equipment | 23 | €34,079 | €205,616 | +€171,537 | +503% |
| Furniture and vehicles | 24 | €6,376 | €5,791 | -€584 | -9.2% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €472,903 | €511,085 | +€38,182 | +8.1% |
| Amounts receivable within one year | 40/41 | €361,146 | €358,703 | -€2,443 | -0.7% |
| Trade receivables | 40 | €355,423 | €348,352 | -€7,071 | -2.0% |
| Other amounts receivable | 41 | €5,723 | €10,351 | +€4,628 | +80.9% |
| Cash at bank and in hand | 54/58 | €40,863 | €79,394 | +€38,531 | +94.3% |
| Deferred charges and accrued income | 490/1 | €70,894 | €72,988 | +€2,095 | +3.0% |
| Total equity and liabilities | 10/49 | €1,466,736 | €1,589,919 | +€123,182 | +8.4% |
| Equity | 10/15 | €699,436 | €757,933 | +€58,497 | +8.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €482,628 | €482,628 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,628 | €8,628 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,378 | €2,378 | = | 0.0% |
| Distributable reserves | 133 | €474,000 | €474,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,308 | €212,805 | +€58,497 | +37.9% |
| Amounts payable | 17/49 | €767,300 | €831,986 | +€64,686 | +8.4% |
| Amounts payable after more than one year | 17 | €201,533 | €275,224 | +€73,691 | +36.6% |
| Financial debts | 170/4 | €201,533 | €275,224 | +€73,691 | +36.6% |
| Amounts payable within one year | 42/48 | €563,081 | €553,324 | -€9,757 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €68,665 | €93,110 | +€24,445 | +35.6% |
| Financial debts | 43 | €50,289 | €46,871 | -€3,418 | -6.8% |
| Credit institutions | 430/8 | €50,289 | €46,871 | -€3,418 | -6.8% |
| Trade debts | 44 | €24,201 | €38,051 | +€13,849 | +57.2% |
| Suppliers | 440/4 | €24,201 | €38,051 | +€13,849 | +57.2% |
| Advances received on contracts in progress | 46 | - | €1,250 | +€1,250 | |
| Taxes, remuneration and social security | 45 | €118,515 | €112,518 | -€5,997 | -5.1% |
| Taxes | 450/3 | €19,046 | €17,093 | -€1,952 | -10.2% |
| Remuneration and social security | 454/9 | €99,469 | €95,424 | -€4,045 | -4.1% |
| Other amounts payable | 47/48 | €301,411 | €261,524 | -€39,887 | -13.2% |
| Accrued charges and deferred income | 492/3 | €2,686 | €3,437 | +€751 | +28.0% |
| Remuneration, social security and pensions | 62 | €687,420 | €679,137 | -€8,283 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,760 | €104,540 | +€4,780 | +4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,070 | €3,780 | +€8,849 | |
| Other operating charges | 640/8 | €14,834 | €16,403 | +€1,570 | +10.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,183,358 | €1,194,891 | +€11,533 | +1.0% |
| Operating profit (loss) | 9901 | €386,414 | €391,031 | +€4,616 | +1.2% |
| Financial income | 75/76B | €4,473 | €2,807 | -€1,667 | -37.3% |
| Recurring financial income | 75 | €4,473 | €2,807 | -€1,667 | -37.3% |
| Financial charges | 65/66B | €26,414 | €20,976 | -€5,438 | -20.6% |
| Recurring financial charges | 65 | €26,414 | €20,976 | -€5,438 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €364,474 | €372,861 | +€8,388 | +2.3% |
| Income taxes | 67/77 | €53,004 | €50,985 | -€2,019 | -3.8% |
| Profit (loss) for the period | 9904 | €311,470 | €321,877 | +€10,407 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €311,470 | €321,877 | +€10,407 | +3.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.