Thib'eau: 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.
Thib'eau
Largest movements
- Receivables within one year +€24,863
up €24,863 (+80.8%), from €30,772 to €55,635
of which Trade receivables: +€16,811
- Stocks and contracts +€23,789
up €23,789 (+161.3%), from €14,750 to €38,539
- Cash +€15,387
up €15,387 (+380.7%), from €4,042 to €19,429
mainly Net result for the year (+€58,618) and Tax, wage and social debts (+€14,659)
- Tangible fixed assets +€6,761
new in 2025: €6,761
of which Furniture and vehicles: +€4,014
- Profit (loss) carried forward +€58,618
up €58,618 (+176.6%), from €33,184 to €91,802
- Tax, wage and social debts +€14,659
up €14,659 (+148.8%), from €9,855 to €24,514
of which Taxes: +€12,351
- Trade debts -€3,369
down €3,369 (-24.7%), from €13,614 to €10,245
- Gross operating margin +€78,523
up €78,523 (+626.7%), from €12,530 to €91,053
- Taxes +€18,499
up €18,499 (+806.7%), from €2,293 to €20,792
- Staff costs +€4,630
up €4,630 (+235.6%), from €1,965 to €6,595
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 | €59,653 | €129,561 | +€69,908 | +117.2% |
| Fixed assets | 21/28 | €4,000 | €9,761 | +€5,761 | +144.0% |
| Intangible fixed assets | 21 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Tangible fixed assets | 22/27 | - | €6,761 | +€6,761 | |
| Plant, machinery and equipment | 23 | - | €2,747 | +€2,747 | |
| Furniture and vehicles | 24 | - | €4,014 | +€4,014 | |
| Current assets | 29/58 | €55,653 | €119,800 | +€64,147 | +115.3% |
| Stocks and contracts in progress | 3 | €14,750 | €38,539 | +€23,789 | +161.3% |
| Stocks | 30/36 | €14,750 | €38,539 | +€23,789 | +161.3% |
| Amounts receivable within one year | 40/41 | €30,772 | €55,635 | +€24,863 | +80.8% |
| Trade receivables | 40 | €14,994 | €31,804 | +€16,811 | +112.1% |
| Other amounts receivable | 41 | €15,778 | €23,831 | +€8,052 | +51.0% |
| Cash at bank and in hand | 54/58 | €4,042 | €19,429 | +€15,387 | +380.7% |
| Deferred charges and accrued income | 490/1 | €6,089 | €6,198 | +€109 | +1.8% |
| Total equity and liabilities | 10/49 | €59,653 | €129,561 | +€69,908 | +117.2% |
| Equity | 10/15 | €36,184 | €94,802 | +€58,618 | +162.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,184 | €91,802 | +€58,618 | +176.6% |
| Amounts payable | 17/49 | €23,469 | €34,759 | +€11,290 | +48.1% |
| Amounts payable within one year | 42/48 | €23,469 | €34,759 | +€11,290 | +48.1% |
| Trade debts | 44 | €13,614 | €10,245 | -€3,369 | -24.7% |
| Suppliers | 440/4 | €13,614 | €10,245 | -€3,369 | -24.7% |
| Taxes, remuneration and social security | 45 | €9,855 | €24,514 | +€14,659 | +148.8% |
| Taxes | 450/3 | €9,716 | €22,066 | +€12,351 | +127.1% |
| Remuneration and social security | 454/9 | €139 | €2,448 | +€2,309 | +1657.9% |
| Remuneration, social security and pensions | 62 | €1,965 | €6,595 | +€4,630 | +235.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,856 | +€856 | +85.6% |
| Other operating charges | 640/8 | €1,153 | €862 | -€291 | -25.2% |
| Gross operating margin | 9900 | €12,530 | €91,053 | +€78,523 | +626.7% |
| Operating profit (loss) | 9901 | €8,413 | €81,740 | +€73,328 | +871.7% |
| Financial income | 75/76B | €1,652 | €1,326 | -€326 | -19.7% |
| Recurring financial income | 75 | €1,652 | €1,326 | -€326 | -19.7% |
| Financial charges | 65/66B | €3,656 | €3,656 | -€0 | 0.0% |
| Recurring financial charges | 65 | €3,656 | €3,656 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €6,408 | €79,411 | +€73,002 | +1139.2% |
| Income taxes | 67/77 | €2,293 | €20,792 | +€18,499 | +806.7% |
| Profit (loss) for the period | 9904 | €4,115 | €58,618 | +€54,503 | +1324.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,115 | €58,618 | +€54,503 | +1324.4% |
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 30 September 2026 via checked.be.