THIALI: 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.
THIALI
Largest movements
- Tangible fixed assets +€55,080
up €55,080 (+660.0%), from €8,345 to €63,425
of which Furniture and vehicles: +€46,304
- Cash -€3,396
down €3,396 (-43.3%), from €7,841 to €4,445
mainly Investment in fixed assets (net) (-€61,935) and Trade debts (-€6,709)
- Stocks and contracts +€2,151
up €2,151 (+125.8%), from €1,710 to €3,861
- Receivables within one year -€1,259
down €1,259 (-11.9%), from €10,569 to €9,310
- Debts after one year +€37,878
new in 2025: €37,878
- Current portion of long-term debt +€9,749
new in 2025: €9,749
- Trade debts -€6,709
down €6,709 (-89.7%), from €7,481 to €773
- Other debts +€4,377
up €4,377 (+39.6%), from €11,040 to €15,417
- Tax, wage and social debts +€3,906
up €3,906 (+138.1%), from €2,828 to €6,734
- Gross operating margin +€7,695
up €7,695 (+209.1%), from €3,679 to €11,374
- Depreciation +€6,249
up €6,249 (+1030.6%), from €606 to €6,855
- Financial charges +€949
up €949 (+13068.0%), from €7 to €956
- Financial income +€407
up €407 (+26059.6%), from €2 to €408
- Taxes -€348
down €348 (-39.6%), from €879 to €531
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 | €28,465 | €81,041 | +€52,576 | +184.7% |
| Fixed assets | 21/28 | €8,345 | €63,425 | +€55,080 | +660.0% |
| Tangible fixed assets | 22/27 | €8,345 | €63,425 | +€55,080 | +660.0% |
| Plant, machinery and equipment | 23 | €2,063 | €1,230 | -€833 | -40.4% |
| Furniture and vehicles | 24 | - | €46,304 | +€46,304 | |
| Other tangible fixed assets | 26 | €6,282 | €15,891 | +€9,609 | +153.0% |
| Current assets | 29/58 | €20,120 | €17,616 | -€2,504 | -12.4% |
| Stocks and contracts in progress | 3 | €1,710 | €3,861 | +€2,151 | +125.8% |
| Stocks | 30/36 | €1,710 | €3,861 | +€2,151 | +125.8% |
| Amounts receivable within one year | 40/41 | €10,569 | €9,310 | -€1,259 | -11.9% |
| Trade receivables | 40 | €10,569 | €9,310 | -€1,259 | -11.9% |
| Cash at bank and in hand | 54/58 | €7,841 | €4,445 | -€3,396 | -43.3% |
| Total equity and liabilities | 10/49 | €28,465 | €81,041 | +€52,576 | +184.7% |
| Equity | 10/15 | €7,116 | €10,489 | +€3,373 | +47.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,116 | €5,489 | +€3,373 | +159.5% |
| Distributable reserves | 133 | €2,116 | €5,489 | +€3,373 | +159.5% |
| Amounts payable | 17/49 | €21,349 | €70,552 | +€49,203 | +230.5% |
| Amounts payable after more than one year | 17 | - | €37,878 | +€37,878 | |
| Financial debts | 170/4 | - | €37,878 | +€37,878 | |
| Amounts payable within one year | 42/48 | €21,349 | €32,673 | +€11,324 | +53.0% |
| Current portion of amounts payable after more than one year | 42 | - | €9,749 | +€9,749 | |
| Trade debts | 44 | €7,481 | €773 | -€6,709 | -89.7% |
| Suppliers | 440/4 | €7,481 | €773 | -€6,709 | -89.7% |
| Taxes, remuneration and social security | 45 | €2,828 | €6,734 | +€3,906 | +138.1% |
| Taxes | 450/3 | €2,828 | €6,734 | +€3,906 | +138.1% |
| Other amounts payable | 47/48 | €11,040 | €15,417 | +€4,377 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €606 | €6,855 | +€6,249 | +1030.6% |
| Other operating charges | 640/8 | €73 | €66 | -€7 | -9.5% |
| Gross operating margin | 9900 | €3,679 | €11,374 | +€7,695 | +209.1% |
| Operating profit (loss) | 9901 | €3,000 | €4,453 | +€1,452 | +48.4% |
| Financial income | 75/76B | €2 | €408 | +€407 | +26059.6% |
| Recurring financial income | 75 | €2 | €408 | +€407 | +26059.6% |
| Financial charges | 65/66B | €7 | €956 | +€949 | +13068.0% |
| Recurring financial charges | 65 | €7 | €956 | +€949 | +13068.0% |
| Profit (loss) for the period before taxes | 9903 | €2,995 | €3,905 | +€910 | +30.4% |
| Income taxes | 67/77 | €879 | €531 | -€348 | -39.6% |
| Profit (loss) for the period | 9904 | €2,116 | €3,373 | +€1,258 | +59.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,116 | €3,373 | +€1,258 | +59.5% |
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 2 October 2026 via checked.be.