THIBEXO: what changed
Two fiscal 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.
THIBEXO
Largest movements
- Cash +€40,530
up €40,530 (+211.7%), from €19,141 to €59,671
mainly Net result for the year (+€26,873) and Receivables within one year (+€10,519)
- Receivables within one year -€10,519
down €10,519 (-19.0%), from €55,500 to €44,981
- Reserves +€26,040
up €26,040 (+53.3%), from €48,858 to €74,898
- Other debts +€3,459
up €3,459 (+6.2%), from €56,137 to €59,595
- Other operating charges -€2,181
down €2,181 (-20.4%), from €10,710 to €8,529
- Gross operating margin +€1,098
up €1,098 (+2.3%), from €48,744 to €49,842
- Taxes +€1,015
up €1,015 (+8.0%), from €12,753 to €13,768
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 | €125,548 | €156,927 | +€31,379 | +25.0% |
| Fixed assets | 21/28 | €50,000 | €51,372 | +€1,372 | +2.7% |
| Tangible fixed assets | 22/27 | - | €1,372 | +€1,372 | |
| Furniture and vehicles | 24 | - | €1,372 | +€1,372 | |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €75,548 | €105,554 | +€30,007 | +39.7% |
| Amounts receivable within one year | 40/41 | €55,500 | €44,981 | -€10,519 | -19.0% |
| Trade receivables | 40 | €55,500 | €44,981 | -€10,519 | -19.0% |
| Cash at bank and in hand | 54/58 | €19,141 | €59,671 | +€40,530 | +211.7% |
| Deferred charges and accrued income | 490/1 | €907 | €903 | -€4 | -0.5% |
| Total equity and liabilities | 10/49 | €125,548 | €156,927 | +€31,379 | +25.0% |
| Equity | 10/15 | €53,858 | €79,898 | +€26,040 | +48.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,858 | €74,898 | +€26,040 | +53.3% |
| Distributable reserves | 133 | €48,858 | €74,898 | +€26,040 | +53.3% |
| Amounts payable | 17/49 | €71,689 | €77,029 | +€5,339 | +7.4% |
| Amounts payable within one year | 42/48 | €71,689 | €76,629 | +€4,940 | +6.9% |
| Trade debts | 44 | €2,720 | €3,142 | +€422 | +15.5% |
| Suppliers | 440/4 | €2,720 | €3,142 | +€422 | +15.5% |
| Taxes, remuneration and social security | 45 | €12,833 | €13,892 | +€1,059 | +8.3% |
| Taxes | 450/3 | €12,833 | €13,892 | +€1,059 | +8.3% |
| Other amounts payable | 47/48 | €56,137 | €59,595 | +€3,459 | +6.2% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €56 | +€56 | |
| Other operating charges | 640/8 | €10,710 | €8,529 | -€2,181 | -20.4% |
| Gross operating margin | 9900 | €48,744 | €49,842 | +€1,098 | +2.3% |
| Operating profit (loss) | 9901 | €38,034 | €41,258 | +€3,223 | +8.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €704 | €618 | -€87 | -12.3% |
| Recurring financial charges | 65 | €704 | €618 | -€87 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €37,330 | €40,641 | +€3,311 | +8.9% |
| Income taxes | 67/77 | €12,753 | €13,768 | +€1,015 | +8.0% |
| Profit (loss) for the period | 9904 | €24,577 | €26,873 | +€2,295 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,577 | €26,873 | +€2,295 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.