Thibaut-Boons: 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.
Thibaut-Boons
Largest movements
- Receivables within one year -€7,366
down €7,366 (-32.2%), from €22,874 to €15,508
of which Other amounts receivable: -€6,375
- Cash -€5,102
down €5,102 (-69.6%), from €7,327 to €2,225
mainly Net result for the year (-€16,364) and Contributions, distributions and other (-€10,906)
- Tangible fixed assets -€3,637
down €3,637 (-9.3%), from €39,135 to €35,498
- Reserves -€27,270
down €27,270 (-23.8%), from €114,342 to €87,073
of which Distributable reserves: -€27,270
- Other debts +€10,994
up €10,994 (+423.2%), from €2,598 to €13,591
- Gross operating margin -€1,874
down €1,874 (-16.7%), from -€11,192 to -€13,065
- Financial income -€323
down €323 (-26.1%), from €1,234 to €912
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 | €126,528 | €109,251 | -€17,278 | -13.7% |
| Fixed assets | 21/28 | €39,135 | €35,498 | -€3,637 | -9.3% |
| Tangible fixed assets | 22/27 | €39,135 | €35,498 | -€3,637 | -9.3% |
| Plant, machinery and equipment | 23 | €39,135 | €35,498 | -€3,637 | -9.3% |
| Current assets | 29/58 | €87,394 | €73,753 | -€13,641 | -15.6% |
| Stocks and contracts in progress | 3 | €57,143 | €56,020 | -€1,122 | -2.0% |
| Stocks | 30/36 | €57,143 | €56,020 | -€1,122 | -2.0% |
| Amounts receivable within one year | 40/41 | €22,874 | €15,508 | -€7,366 | -32.2% |
| Trade receivables | 40 | €1,888 | €897 | -€991 | -52.5% |
| Other amounts receivable | 41 | €20,986 | €14,611 | -€6,375 | -30.4% |
| Cash at bank and in hand | 54/58 | €7,327 | €2,225 | -€5,102 | -69.6% |
| Deferred charges and accrued income | 490/1 | €50 | €0 | -€50 | -100.0% |
| Total equity and liabilities | 10/49 | €126,528 | €109,251 | -€17,278 | -13.7% |
| Equity | 10/15 | €120,542 | €93,273 | -€27,270 | -22.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €114,342 | €87,073 | -€27,270 | -23.8% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €95,592 | €68,323 | -€27,270 | -28.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,986 | €15,978 | +€9,992 | +166.9% |
| Amounts payable within one year | 42/48 | €5,986 | €15,978 | +€9,992 | +166.9% |
| Trade debts | 44 | €3,388 | €2,386 | -€1,002 | -29.6% |
| Suppliers | 440/4 | €3,388 | €2,386 | -€1,002 | -29.6% |
| Other amounts payable | 47/48 | €2,598 | €13,591 | +€10,994 | +423.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,637 | €3,637 | = | 0.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | -€11,192 | -€13,065 | -€1,874 | -16.7% |
| Operating profit (loss) | 9901 | -€15,213 | -€17,090 | -€1,876 | -12.3% |
| Financial income | 75/76B | €1,234 | €912 | -€323 | -26.1% |
| Recurring financial income | 75 | €1,234 | €912 | -€323 | -26.1% |
| Financial charges | 65/66B | €193 | €186 | -€8 | -4.0% |
| Recurring financial charges | 65 | €193 | €186 | -€8 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€14,172 | -€16,364 | -€2,191 | -15.5% |
| Profit (loss) for the period | 9904 | -€14,172 | -€16,364 | -€2,191 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,172 | -€16,364 | -€2,191 | -15.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.