THIB EAU: what changed
Two financial 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 +€38,374
up €38,374 (+524.5%), from €7,317 to €45,690
- Cash +€20,866
up €20,866 (+566.9%), from €3,681 to €24,547
mainly Net result for the year (+€39,086) and Depreciation (+€18,768)
- Tangible fixed assets +€20,843
up €20,843 (+51.6%), from €40,364 to €61,207
of which Leasing and similar rights: +€21,333
- Reserves +€39,086
up €39,086 (+1420.4%), from €2,752 to €41,837
- Debts after one year +€14,416
up €14,416 (+49.2%), from €29,330 to €43,745
- Tax, wage and social debts +€13,785
up €13,785 (+2003.9%), from €688 to €14,473
- Current portion of long-term debt +€7,783
up €7,783 (+85.3%), from €9,121 to €16,904
- Other debts +€7,271
new in 2025: €7,271
- Gross operating margin +€68,344
up €68,344 (+1844.6%), from €3,705 to €72,049
- Depreciation +€18,685
up €18,685 (+22571.6%), from €83 to €18,768
- Taxes +€8,864
up €8,864 (+1288.5%), from €688 to €9,552
- Financial charges +€2,611
up €2,611 (+1430.9%), from €183 to €2,794
- Other operating charges +€1,851
new in 2025: €1,851
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 | €52,423 | €132,223 | +€79,801 | +152.2% |
| Formation expenses | 20 | €1,061 | €0 | -€1,061 | -100.0% |
| Fixed assets | 21/28 | €40,364 | €61,207 | +€20,843 | +51.6% |
| Tangible fixed assets | 22/27 | €40,364 | €61,207 | +€20,843 | +51.6% |
| Plant, machinery and equipment | 23 | €1,113 | €891 | -€223 | -20.0% |
| Furniture and vehicles | 24 | €800 | €533 | -€267 | -33.3% |
| Leasing and similar rights | 25 | €38,451 | €59,783 | +€21,333 | +55.5% |
| Current assets | 29/58 | €10,998 | €71,016 | +€60,018 | +545.7% |
| Amounts receivable within one year | 40/41 | €7,317 | €45,690 | +€38,374 | +524.5% |
| Trade receivables | 40 | €7,317 | €45,690 | +€38,374 | +524.5% |
| Cash at bank and in hand | 54/58 | €3,681 | €24,547 | +€20,866 | +566.9% |
| Deferred charges and accrued income | 490/1 | - | €778 | +€778 | |
| Total equity and liabilities | 10/49 | €52,423 | €132,223 | +€79,801 | +152.2% |
| Equity | 10/15 | €7,752 | €46,837 | +€39,086 | +504.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,752 | €41,837 | +€39,086 | +1420.4% |
| Distributable reserves | 133 | €2,752 | €41,837 | +€39,086 | +1420.4% |
| Amounts payable | 17/49 | €44,671 | €85,386 | +€40,715 | +91.1% |
| Amounts payable after more than one year | 17 | €29,330 | €43,745 | +€14,416 | +49.2% |
| Financial debts | 170/4 | €29,330 | €43,745 | +€14,416 | +49.2% |
| Amounts payable within one year | 42/48 | €13,046 | €41,640 | +€28,594 | +219.2% |
| Current portion of amounts payable after more than one year | 42 | €9,121 | €16,904 | +€7,783 | +85.3% |
| Trade debts | 44 | €3,237 | €2,993 | -€245 | -7.6% |
| Suppliers | 440/4 | €3,237 | €2,993 | -€245 | -7.6% |
| Taxes, remuneration and social security | 45 | €688 | €14,473 | +€13,785 | +2003.9% |
| Taxes | 450/3 | €688 | €14,473 | +€13,785 | +2003.9% |
| Other amounts payable | 47/48 | - | €7,271 | +€7,271 | |
| Accrued charges and deferred income | 492/3 | €2,295 | €0 | -€2,295 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83 | €18,768 | +€18,685 | +22571.6% |
| Other operating charges | 640/8 | - | €1,851 | +€1,851 | |
| Gross operating margin | 9900 | €3,705 | €72,049 | +€68,344 | +1844.6% |
| Operating profit (loss) | 9901 | €3,622 | €51,430 | +€47,808 | +1319.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €183 | €2,794 | +€2,611 | +1430.9% |
| Recurring financial charges | 65 | €183 | €2,794 | +€2,611 | +1430.9% |
| Profit (loss) for the period before taxes | 9903 | €3,440 | €48,638 | +€45,198 | +1314.0% |
| Income taxes | 67/77 | €688 | €9,552 | +€8,864 | +1288.5% |
| Profit (loss) for the period | 9904 | €2,752 | €39,086 | +€36,334 | +1320.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,752 | €39,086 | +€36,334 | +1320.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.