THIBIUS: 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.
THIBIUS
Largest movements
- Current investments +€169,000
up €169,000 (+54.2%), from €311,627 to €480,627
- Cash +€57,130
up €57,130 (+30.9%), from €184,992 to €242,122
mainly Other debts (+€277,907) and Net result for the year (+€251,134)
- Receivables within one year -€40,665
down €40,665 (-21.5%), from €189,054 to €148,389
of which Other amounts receivable: -€38,073
- Tangible fixed assets -€33,302
down €33,302 (-4.9%), from €674,109 to €640,807
of which Land and buildings: -€45,165
- Other debts +€277,907
up €277,907 (+447%), from €62,136 to €340,043
- Reserves -€88,909
down €88,909 (-11.2%), from €793,533 to €704,625
- Debts after one year -€32,332
down €32,332 (-7.3%), from €443,630 to €411,297
- Gross operating margin +€55,928
up €55,928 (+15.3%), from €365,508 to €421,436
- Taxes +€17,450
up €17,450 (+18.3%), from €95,153 to €112,603
- Depreciation +€7,393
up €7,393 (+15.0%), from €49,184 to €56,577
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,369,783 | €1,521,946 | +€152,163 | +11.1% |
| Fixed assets | 21/28 | €684,109 | €650,807 | -€33,302 | -4.9% |
| Tangible fixed assets | 22/27 | €674,109 | €640,807 | -€33,302 | -4.9% |
| Land and buildings | 22 | €633,914 | €588,748 | -€45,165 | -7.1% |
| Plant, machinery and equipment | 23 | €40,196 | €32,812 | -€7,384 | -18.4% |
| Furniture and vehicles | 24 | - | €19,247 | +€19,247 | |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €685,674 | €871,139 | +€185,465 | +27.0% |
| Amounts receivable within one year | 40/41 | €189,054 | €148,389 | -€40,665 | -21.5% |
| Trade receivables | 40 | €2,910 | €318 | -€2,592 | -89.1% |
| Other amounts receivable | 41 | €186,144 | €148,071 | -€38,073 | -20.5% |
| Current investments | 50/53 | €311,627 | €480,627 | +€169,000 | +54.2% |
| Cash at bank and in hand | 54/58 | €184,992 | €242,122 | +€57,130 | +30.9% |
| Total equity and liabilities | 10/49 | €1,369,783 | €1,521,946 | +€152,163 | +11.1% |
| Equity | 10/15 | €794,533 | €705,625 | -€88,909 | -11.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €793,533 | €704,625 | -€88,909 | -11.2% |
| Distributable reserves | 133 | €793,533 | €704,625 | -€88,909 | -11.2% |
| Amounts payable | 17/49 | €575,250 | €816,321 | +€241,072 | +41.9% |
| Amounts payable after more than one year | 17 | €443,630 | €411,297 | -€32,332 | -7.3% |
| Financial debts | 170/4 | €443,630 | €411,297 | -€32,332 | -7.3% |
| Amounts payable within one year | 42/48 | €130,957 | €405,024 | +€274,066 | +209% |
| Current portion of amounts payable after more than one year | 42 | €52,123 | €52,650 | +€528 | +1.0% |
| Trade debts | 44 | €662 | €358 | -€303 | -45.8% |
| Suppliers | 440/4 | €662 | €358 | -€303 | -45.8% |
| Taxes, remuneration and social security | 45 | €16,038 | €11,973 | -€4,065 | -25.3% |
| Taxes | 450/3 | €16,038 | €11,973 | -€4,065 | -25.3% |
| Other amounts payable | 47/48 | €62,136 | €340,043 | +€277,907 | +447% |
| Accrued charges and deferred income | 492/3 | €663 | - | -€663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,184 | €56,577 | +€7,393 | +15.0% |
| Other operating charges | 640/8 | €3,889 | €3,468 | -€421 | -10.8% |
| Gross operating margin | 9900 | €365,508 | €421,436 | +€55,928 | +15.3% |
| Operating profit (loss) | 9901 | €312,435 | €361,391 | +€48,955 | +15.7% |
| Financial income | 75/76B | €7,673 | €11,530 | +€3,857 | +50.3% |
| Recurring financial income | 75 | €7,673 | €11,530 | +€3,857 | +50.3% |
| Financial charges | 65/66B | €10,819 | €9,183 | -€1,635 | -15.1% |
| Recurring financial charges | 65 | €10,819 | €9,183 | -€1,635 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €309,290 | €363,738 | +€54,448 | +17.6% |
| Income taxes | 67/77 | €95,153 | €112,603 | +€17,450 | +18.3% |
| Profit (loss) for the period | 9904 | €214,137 | €251,134 | +€36,997 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €214,137 | €251,134 | +€36,997 | +17.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.