THIB'S CONSULT: 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'S CONSULT
Largest movements
- Receivables within one year +€138,384
up €138,384 (+185%), from €74,924 to €213,308
of which Trade receivables: +€105,384
- Cash +€50,219
up €50,219 (+32.9%), from €152,414 to €202,633
mainly Net result for the year (+€279,089) and Other debts (+€91,882)
- Financial fixed assets -€15,000
down €15,000 (-15.2%), from €99,000 to €84,000
- Other debts +€91,882
up €91,882 (+61.3%), from €150,000 to €241,882
- Tax, wage and social debts +€43,250
up €43,250 (+182%), from €23,818 to €67,069
- Profit (loss) carried forward +€37,589
up €37,589 (+24.0%), from €156,542 to €194,131
- Gross operating margin +€189,442
up €189,442 (+125%), from €151,610 to €341,052
- Taxes +€45,068
up €45,068 (+119%), from €37,991 to €83,059
- Financial income +€35,001
up €35,001 (+216,725%), from €16 to €35,017
of which Non-recurring financial income: +€35,000
- Other operating charges +€4,215
up €4,215 (+248%), from €1,699 to €5,914
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.
Derived cash bridge
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 | €364,246 | €536,732 | +€172,486 | +47.4% |
| Fixed assets | 21/28 | €136,540 | €120,568 | -€15,972 | -11.7% |
| Tangible fixed assets | 22/27 | €37,540 | €36,568 | -€972 | -2.6% |
| Plant, machinery and equipment | 23 | €5,793 | €4,447 | -€1,347 | -23.2% |
| Furniture and vehicles | 24 | €81 | - | -€81 | |
| Other tangible fixed assets | 26 | €31,666 | €32,122 | +€456 | +1.4% |
| Financial fixed assets | 28 | €99,000 | €84,000 | -€15,000 | -15.2% |
| Current assets | 29/58 | €227,706 | €416,164 | +€188,458 | +82.8% |
| Amounts receivable within one year | 40/41 | €74,924 | €213,308 | +€138,384 | +185% |
| Trade receivables | 40 | €49,924 | €155,308 | +€105,384 | +211% |
| Other amounts receivable | 41 | €25,000 | €58,000 | +€33,000 | +132% |
| Cash at bank and in hand | 54/58 | €152,414 | €202,633 | +€50,219 | +32.9% |
| Deferred charges and accrued income | 490/1 | €368 | €223 | -€145 | -39.4% |
| Total equity and liabilities | 10/49 | €364,246 | €536,732 | +€172,486 | +47.4% |
| Equity | 10/15 | €177,002 | €214,591 | +€37,589 | +21.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €156,542 | €194,131 | +€37,589 | +24.0% |
| Amounts payable | 17/49 | €187,244 | €322,141 | +€134,897 | +72.0% |
| Amounts payable within one year | 42/48 | €187,244 | €322,141 | +€134,897 | +72.0% |
| Financial debts | 43 | €10,184 | €10,145 | -€39 | -0.4% |
| Credit institutions | 430/8 | €10,184 | €10,145 | -€39 | -0.4% |
| Trade debts | 44 | €3,242 | €3,046 | -€196 | -6.0% |
| Suppliers | 440/4 | €3,242 | €3,046 | -€196 | -6.0% |
| Taxes, remuneration and social security | 45 | €23,818 | €67,069 | +€43,250 | +182% |
| Taxes | 450/3 | €23,818 | €67,069 | +€43,250 | +182% |
| Other amounts payable | 47/48 | €150,000 | €241,882 | +€91,882 | +61.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,734 | €6,967 | +€2,233 | +47.2% |
| Other operating charges | 640/8 | €1,699 | €5,914 | +€4,215 | +248% |
| Gross operating margin | 9900 | €151,610 | €341,052 | +€189,442 | +125% |
| Operating profit (loss) | 9901 | €145,177 | €328,171 | +€182,994 | +126% |
| Financial income | 75/76B | €16 | €35,017 | +€35,001 | +216,725% |
| Recurring financial income | 75 | €16 | €17 | +€1 | +6.8% |
| Non-recurring financial income | 76B | - | €35,000 | +€35,000 | |
| Financial charges | 65/66B | €1,263 | €1,041 | -€222 | -17.6% |
| Recurring financial charges | 65 | €1,263 | €1,041 | -€222 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €143,930 | €362,148 | +€218,217 | +152% |
| Income taxes | 67/77 | €37,991 | €83,059 | +€45,068 | +119% |
| Profit (loss) for the period | 9904 | €105,939 | €279,089 | +€173,150 | +163% |
| Profit (loss) for the period to be appropriated | 9905 | €105,939 | €279,089 | +€173,150 | +163% |
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 20 October 2026 via checked.be.