THI-MAX: 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-MAX
Largest movements
- Stocks and contracts +€406,615
new in 2024: €406,615
- Receivables within one year +€29,661
new in 2024: €29,661
- Cash +€16,514
up €16,514 (+244.3%), from €6,760 to €23,274
mainly Short-term financial debts (+€301,671) and Other debts (+€144,558)
- Short-term financial debts +€301,671
new in 2024: €301,671
of which Other loans: +€187,741
- Other debts +€144,558
new in 2024: €144,558
- Trade debts +€15,529
new in 2024: €15,529
- Profit (loss) carried forward -€8,760
down €8,760 (-270.4%), from -€3,240 to -€12,000
- Financial charges +€3,965
up €3,965 (+3660.0%), from €108 to €4,073
- Gross operating margin -€1,193
down €1,193 (-39.5%), from -€3,023 to -€4,216
- Other operating charges +€385
up €385 (+352.8%), from €109 to €494
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,760 | €459,758 | +€452,998 | +6701.3% |
| Current assets | 29/58 | €6,760 | €459,758 | +€452,998 | +6701.3% |
| Stocks and contracts in progress | 3 | - | €406,615 | +€406,615 | |
| Stocks | 30/36 | - | €406,615 | +€406,615 | |
| Amounts receivable within one year | 40/41 | - | €29,661 | +€29,661 | |
| Other amounts receivable | 41 | - | €29,661 | +€29,661 | |
| Cash at bank and in hand | 54/58 | €6,760 | €23,274 | +€16,514 | +244.3% |
| Deferred charges and accrued income | 490/1 | - | €207 | +€207 | |
| Total equity and liabilities | 10/49 | €6,760 | €459,758 | +€452,998 | +6701.3% |
| Equity | 10/15 | €6,760 | -€2,000 | -€8,760 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,240 | -€12,000 | -€8,760 | -270.4% |
| Amounts payable | 17/49 | - | €461,758 | +€461,758 | |
| Amounts payable within one year | 42/48 | - | €461,758 | +€461,758 | |
| Financial debts | 43 | - | €301,671 | +€301,671 | |
| Credit institutions | 430/8 | - | €113,930 | +€113,930 | |
| Other loans | 439 | - | €187,741 | +€187,741 | |
| Trade debts | 44 | - | €15,529 | +€15,529 | |
| Suppliers | 440/4 | - | €15,529 | +€15,529 | |
| Other amounts payable | 47/48 | - | €144,558 | +€144,558 | |
| Other operating charges | 640/8 | €109 | €494 | +€385 | +352.8% |
| Gross operating margin | 9900 | -€3,023 | -€4,216 | -€1,193 | -39.5% |
| Operating profit (loss) | 9901 | -€3,132 | -€4,710 | -€1,578 | -50.4% |
| Financial income | 75/76B | €0 | €23 | +€23 | +114500.0% |
| Recurring financial income | 75 | €0 | €23 | +€23 | +114500.0% |
| Financial charges | 65/66B | €108 | €4,073 | +€3,965 | +3660.0% |
| Recurring financial charges | 65 | €108 | €4,073 | +€3,965 | +3660.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,240 | -€8,760 | -€5,520 | -170.4% |
| Profit (loss) for the period | 9904 | -€3,240 | -€8,760 | -€5,520 | -170.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,240 | -€8,760 | -€5,520 | -170.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.