Thibault BODSON: 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.
Thibault BODSON
Largest movements
- Receivables within one year +€17,108
up €17,108 (+35.8%), from €47,732 to €64,840
of which Trade receivables: +€18,142
- Stocks and contracts +€6,964
up €6,964 (+20.1%), from €34,656 to €41,619
- Deferred charges and accrued income -€1,582
down €1,582 (-67.6%), from €2,339 to €757
- Other debts +€15,360
up €15,360 (+26.7%), from €57,532 to €72,891
- Profit (loss) carried forward +€3,587
up €3,587 (+19.9%), from €18,000 to €21,587
- Tax, wage and social debts +€2,659
up €2,659 (+23.6%), from €11,280 to €13,939
of which Taxes: +€5,957
- Gross operating margin -€18,431
down €18,431 (-76.4%), from €24,109 to €5,678
- Taxes -€3,728
down €3,728 (-76.8%), from €4,855 to €1,127
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 | €90,087 | €111,551 | +€21,464 | +23.8% |
| Formation expenses | 20 | €199 | - | -€199 | |
| Fixed assets | 21/28 | €2,698 | €2,651 | -€47 | -1.8% |
| Tangible fixed assets | 22/27 | €2,698 | €2,651 | -€47 | -1.8% |
| Plant, machinery and equipment | 23 | €971 | €539 | -€432 | -44.5% |
| Furniture and vehicles | 24 | €1,727 | €2,112 | +€385 | +22.3% |
| Current assets | 29/58 | €87,190 | €108,900 | +€21,710 | +24.9% |
| Stocks and contracts in progress | 3 | €34,656 | €41,619 | +€6,964 | +20.1% |
| Stocks | 30/36 | €34,656 | €41,619 | +€6,964 | +20.1% |
| Amounts receivable within one year | 40/41 | €47,732 | €64,840 | +€17,108 | +35.8% |
| Trade receivables | 40 | €43,612 | €61,754 | +€18,142 | +41.6% |
| Other amounts receivable | 41 | €4,120 | €3,086 | -€1,034 | -25.1% |
| Cash at bank and in hand | 54/58 | €2,463 | €1,684 | -€779 | -31.6% |
| Deferred charges and accrued income | 490/1 | €2,339 | €757 | -€1,582 | -67.6% |
| Total equity and liabilities | 10/49 | €90,087 | €111,551 | +€21,464 | +23.8% |
| Equity | 10/15 | €20,500 | €24,087 | +€3,587 | +17.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,000 | €21,587 | +€3,587 | +19.9% |
| Amounts payable | 17/49 | €69,587 | €87,464 | +€17,877 | +25.7% |
| Amounts payable within one year | 42/48 | €69,587 | €87,464 | +€17,877 | +25.7% |
| Trade debts | 44 | €776 | €633 | -€142 | -18.4% |
| Suppliers | 440/4 | €776 | €633 | -€142 | -18.4% |
| Taxes, remuneration and social security | 45 | €11,280 | €13,939 | +€2,659 | +23.6% |
| Taxes | 450/3 | €7,982 | €13,939 | +€5,957 | +74.6% |
| Remuneration and social security | 454/9 | €3,298 | - | -€3,298 | |
| Other amounts payable | 47/48 | €57,532 | €72,891 | +€15,360 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,499 | €1,441 | -€58 | -3.9% |
| Other operating charges | 640/8 | €149 | €124 | -€25 | -16.7% |
| Gross operating margin | 9900 | €24,109 | €5,678 | -€18,431 | -76.4% |
| Operating profit (loss) | 9901 | €22,462 | €4,114 | -€18,348 | -81.7% |
| Financial income | 75/76B | €442 | €654 | +€213 | +48.2% |
| Recurring financial income | 75 | €442 | €654 | +€213 | +48.2% |
| Financial charges | 65/66B | €48 | €54 | +€6 | +11.8% |
| Recurring financial charges | 65 | €48 | €54 | +€6 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €22,855 | €4,714 | -€18,141 | -79.4% |
| Income taxes | 67/77 | €4,855 | €1,127 | -€3,728 | -76.8% |
| Profit (loss) for the period | 9904 | €18,000 | €3,587 | -€14,413 | -80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,000 | €3,587 | -€14,413 | -80.1% |
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 13 October 2026 via checked.be.