THI-MAR PROJECTS: 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.
THI-MAR PROJECTS
Largest movements
- Receivables within one year -€1,187
down €1,187 (-1.4%), from €83,076 to €81,890
- Profit (loss) carried forward -€1,134
down €1,134 (-0.6%), from -€180,062 to -€181,197
- Gross operating margin -€412
new in 2025: -€412
- Financial charges +€127
new in 2025: €127
- Other operating charges +€60
up €60 (+11.3%), from €535 to €595
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 | €83,092 | €82,002 | -€1,089 | -1.3% |
| Current assets | 29/58 | €83,092 | €82,002 | -€1,089 | -1.3% |
| Amounts receivable within one year | 40/41 | €83,076 | €81,890 | -€1,187 | -1.4% |
| Other amounts receivable | 41 | €83,076 | €81,890 | -€1,187 | -1.4% |
| Cash at bank and in hand | 54/58 | €15 | €112 | +€97 | +641.3% |
| Total equity and liabilities | 10/49 | €83,092 | €82,002 | -€1,089 | -1.3% |
| Equity | 10/15 | -€72,574 | -€73,708 | -€1,134 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €88,888 | €88,888 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €87,028 | €87,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,062 | -€181,197 | -€1,134 | -0.6% |
| Amounts payable | 17/49 | €155,666 | €155,711 | +€45 | 0.0% |
| Amounts payable within one year | 42/48 | €155,666 | €155,711 | +€45 | 0.0% |
| Trade debts | 44 | - | €45 | +€45 | |
| Suppliers | 440/4 | - | €45 | +€45 | |
| Other amounts payable | 47/48 | €155,666 | €155,666 | = | 0.0% |
| Other operating charges | 640/8 | €535 | €595 | +€60 | +11.3% |
| Gross operating margin | 9900 | - | -€412 | -€412 | |
| Operating profit (loss) | 9901 | -€535 | -€1,008 | -€473 | -88.4% |
| Financial charges | 65/66B | - | €127 | +€127 | |
| Recurring financial charges | 65 | - | €127 | +€127 | |
| Profit (loss) for the period before taxes | 9903 | -€535 | -€1,134 | -€600 | -112.1% |
| Profit (loss) for the period | 9904 | -€535 | -€1,134 | -€600 | -112.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€535 | -€1,134 | -€600 | -112.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.