THIBELYS: 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.
THIBELYS
Largest movements
- Cash +€17,583
up €17,583 (+21.0%), from €83,704 to €101,286
mainly Other debts (+€72,095) and Net result for the year (+€33,819)
- Receivables after one year +€2,485
up €2,485 (+2.5%), from €100,110 to €102,596
- Other debts +€72,095
up €72,095 (+477.5%), from €15,100 to €87,195
- Reserves -€58,948
down €58,948 (-31.7%), from €186,027 to €127,079
- Tax, wage and social debts +€8,102
up €8,102 (+166.9%), from €4,855 to €12,958
- Gross operating margin +€1,424
up €1,424 (+3.2%), from €44,438 to €45,862
- Depreciation +€613
up €613 (+94.0%), from €652 to €1,266
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 | €220,697 | €240,968 | +€20,270 | +9.2% |
| Fixed assets | 21/28 | €21,188 | €21,960 | +€772 | +3.6% |
| Tangible fixed assets | 22/27 | €1,188 | €1,960 | +€772 | +65.0% |
| Plant, machinery and equipment | 23 | €262 | - | -€262 | |
| Furniture and vehicles | 24 | €926 | €1,960 | +€1,035 | +111.8% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €199,510 | €219,007 | +€19,498 | +9.8% |
| Amounts receivable after more than one year | 29 | €100,110 | €102,596 | +€2,485 | +2.5% |
| Other amounts receivable | 291 | €100,110 | €102,596 | +€2,485 | +2.5% |
| Amounts receivable within one year | 40/41 | €13,106 | €14,354 | +€1,248 | +9.5% |
| Trade receivables | 40 | €12,714 | €11,866 | -€848 | -6.7% |
| Other amounts receivable | 41 | €392 | €2,488 | +€2,097 | +535.0% |
| Cash at bank and in hand | 54/58 | €83,704 | €101,286 | +€17,583 | +21.0% |
| Deferred charges and accrued income | 490/1 | €2,590 | €772 | -€1,819 | -70.2% |
| Total equity and liabilities | 10/49 | €220,697 | €240,968 | +€20,270 | +9.2% |
| Equity | 10/15 | €198,446 | €139,498 | -€58,948 | -29.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €186,027 | €127,079 | -€58,948 | -31.7% |
| Distributable reserves | 133 | €186,027 | €127,079 | -€58,948 | -31.7% |
| Profit (loss) carried forward | 14 | €19 | €19 | = | 0.0% |
| Amounts payable | 17/49 | €22,251 | €101,469 | +€79,218 | +356.0% |
| Amounts payable within one year | 42/48 | €22,251 | €101,245 | +€78,994 | +355.0% |
| Financial debts | 43 | €746 | - | -€746 | |
| Credit institutions | 430/8 | €746 | - | -€746 | |
| Trade debts | 44 | €1,551 | €1,093 | -€458 | -29.5% |
| Suppliers | 440/4 | €1,551 | €1,093 | -€458 | -29.5% |
| Taxes, remuneration and social security | 45 | €4,855 | €12,958 | +€8,102 | +166.9% |
| Taxes | 450/3 | €4,855 | €12,958 | +€8,102 | +166.9% |
| Other amounts payable | 47/48 | €15,100 | €87,195 | +€72,095 | +477.5% |
| Accrued charges and deferred income | 492/3 | - | €224 | +€224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €652 | €1,266 | +€613 | +94.0% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €44,438 | €45,862 | +€1,424 | +3.2% |
| Operating profit (loss) | 9901 | €43,398 | €44,596 | +€1,198 | +2.8% |
| Financial income | 75/76B | €2,450 | €2,799 | +€350 | +14.3% |
| Recurring financial income | 75 | €2,450 | €2,799 | +€350 | +14.3% |
| Financial charges | 65/66B | €466 | €561 | +€95 | +20.4% |
| Recurring financial charges | 65 | €466 | €561 | +€95 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €45,382 | €46,835 | +€1,453 | +3.2% |
| Income taxes | 67/77 | €12,608 | €13,015 | +€407 | +3.2% |
| Profit (loss) for the period | 9904 | €32,774 | €33,819 | +€1,046 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,774 | €33,819 | +€1,046 | +3.2% |
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 11 October 2026 via checked.be.