THIBAULT GONTIER: 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 GONTIER
Largest movements
- Tangible fixed assets +€94,364
up €94,364 (+47.0%), from €200,616 to €294,980
of which Land and buildings: +€70,706
- Receivables within one year +€14,240
up €14,240 (+31.3%), from €45,565 to €59,806
of which Trade receivables: +€33,219
- Deferred charges and accrued income +€3,855
up €3,855 (+343%), from €1,125 to €4,980
- Debts after one year +€52,019
up €52,019 (+40.3%), from €129,115 to €181,134
- Other debts +€37,171
up €37,171 (+164%), from €22,648 to €59,819
- Current portion of long-term debt +€20,305
up €20,305 (+68.5%), from €29,661 to €49,966
- Trade debts +€12,846
up €12,846 (+137%), from €9,371 to €22,217
- Reserves -€9,561
down €9,561 (-20.1%), from €47,605 to €38,045
- Gross operating margin +€80,964
up €80,964 (+87.9%), from €92,077 to €173,041
- Staff costs +€46,693
up €46,693 (+281%), from €16,604 to €63,297
- Depreciation +€9,499
up €9,499 (+24.9%), from €38,221 to €47,720
- Financial charges +€4,354
up €4,354 (+68.0%), from €6,400 to €10,754
- Taxes +€2,753
up €2,753 (+78.4%), from €3,512 to €6,265
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 | €255,610 | €367,248 | +€111,637 | +43.7% |
| Fixed assets | 21/28 | €200,979 | €295,343 | +€94,364 | +47.0% |
| Tangible fixed assets | 22/27 | €200,616 | €294,980 | +€94,364 | +47.0% |
| Land and buildings | 22 | €89,317 | €160,023 | +€70,706 | +79.2% |
| Plant, machinery and equipment | 23 | €25,784 | €34,555 | +€8,771 | +34.0% |
| Furniture and vehicles | 24 | €82,762 | €98,746 | +€15,984 | +19.3% |
| Other tangible fixed assets | 26 | €2,753 | €1,656 | -€1,097 | -39.9% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €54,631 | €71,905 | +€17,273 | +31.6% |
| Amounts receivable within one year | 40/41 | €45,565 | €59,806 | +€14,240 | +31.3% |
| Trade receivables | 40 | €7,065 | €40,284 | +€33,219 | +470% |
| Other amounts receivable | 41 | €38,500 | €19,521 | -€18,979 | -49.3% |
| Current investments | 50/53 | €89 | €89 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,852 | €7,030 | -€822 | -10.5% |
| Deferred charges and accrued income | 490/1 | €1,125 | €4,980 | +€3,855 | +343% |
| Total equity and liabilities | 10/49 | €255,610 | €367,248 | +€111,637 | +43.7% |
| Equity | 10/15 | €57,605 | €48,045 | -€9,561 | -16.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €47,605 | €38,045 | -€9,561 | -20.1% |
| Distributable reserves | 133 | €47,605 | €38,045 | -€9,561 | -20.1% |
| Amounts payable | 17/49 | €198,005 | €319,203 | +€121,198 | +61.2% |
| Amounts payable after more than one year | 17 | €129,115 | €181,134 | +€52,019 | +40.3% |
| Financial debts | 170/4 | €129,115 | €181,134 | +€52,019 | +40.3% |
| Amounts payable within one year | 42/48 | €67,365 | €136,431 | +€69,065 | +103% |
| Current portion of amounts payable after more than one year | 42 | €29,661 | €49,966 | +€20,305 | +68.5% |
| Trade debts | 44 | €9,371 | €22,217 | +€12,846 | +137% |
| Suppliers | 440/4 | €9,371 | €22,217 | +€12,846 | +137% |
| Taxes, remuneration and social security | 45 | €5,685 | €4,429 | -€1,256 | -22.1% |
| Taxes | 450/3 | €750 | €1,531 | +€781 | +104% |
| Remuneration and social security | 454/9 | €4,935 | €2,898 | -€2,037 | -41.3% |
| Other amounts payable | 47/48 | €22,648 | €59,819 | +€37,171 | +164% |
| Accrued charges and deferred income | 492/3 | €1,525 | €1,638 | +€113 | +7.4% |
| Remuneration, social security and pensions | 62 | €16,604 | €63,297 | +€46,693 | +281% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,221 | €47,720 | +€9,499 | +24.9% |
| Other operating charges | 640/8 | €4,925 | €4,081 | -€844 | -17.1% |
| Gross operating margin | 9900 | €92,077 | €173,041 | +€80,964 | +87.9% |
| Operating profit (loss) | 9901 | €32,328 | €57,943 | +€25,615 | +79.2% |
| Financial income | 75/76B | €233 | €152 | -€81 | -34.8% |
| Recurring financial income | 75 | €233 | €152 | -€81 | -34.8% |
| Financial charges | 65/66B | €6,400 | €10,754 | +€4,354 | +68.0% |
| Recurring financial charges | 65 | €6,400 | €10,754 | +€4,354 | +68.0% |
| Profit (loss) for the period before taxes | 9903 | €26,160 | €47,341 | +€21,180 | +81.0% |
| Income taxes | 67/77 | €3,512 | €6,265 | +€2,753 | +78.4% |
| Profit (loss) for the period | 9904 | €22,648 | €41,075 | +€18,427 | +81.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,648 | €41,075 | +€18,427 | +81.4% |
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 31 October 2026 via checked.be.