Thibo Bral: 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.
Thibo Bral
Largest movements
- Cash +€25,457
up €25,457 (+51.5%), from €49,427 to €74,884
mainly Net result for the year (+€13,783) and Receivables within one year (+€7,325)
- Receivables within one year -€7,325
down €7,325 (-92.4%), from €7,929 to €604
of which Other amounts receivable: -€7,779
- Tangible fixed assets -€2,991
down €2,991 (-24.3%), from €12,315 to €9,324
of which Furniture and vehicles: -€2,513
- Reserves +€12,950
up €12,950 (+28.8%), from €44,900 to €57,850
- Other debts +€3,532
up €3,532 (+27.3%), from €12,914 to €16,446
- Gross operating margin -€5,031
down €5,031 (-18.1%), from €27,863 to €22,832
- Taxes +€1,208
up €1,208 (+27.8%), from €4,344 to €5,552
- Depreciation +€842
up €842 (+39.2%), from €2,149 to €2,991
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 | €70,533 | €85,700 | +€15,167 | +21.5% |
| Fixed assets | 21/28 | €12,315 | €9,324 | -€2,991 | -24.3% |
| Tangible fixed assets | 22/27 | €12,315 | €9,324 | -€2,991 | -24.3% |
| Plant, machinery and equipment | 23 | €1,552 | €1,074 | -€478 | -30.8% |
| Furniture and vehicles | 24 | €10,763 | €8,251 | -€2,513 | -23.3% |
| Current assets | 29/58 | €58,218 | €76,376 | +€18,157 | +31.2% |
| Amounts receivable within one year | 40/41 | €7,929 | €604 | -€7,325 | -92.4% |
| Trade receivables | 40 | €150 | €604 | +€454 | +303% |
| Other amounts receivable | 41 | €7,779 | - | -€7,779 | |
| Cash at bank and in hand | 54/58 | €49,427 | €74,884 | +€25,457 | +51.5% |
| Deferred charges and accrued income | 490/1 | €863 | €888 | +€25 | +2.9% |
| Total equity and liabilities | 10/49 | €70,533 | €85,700 | +€15,167 | +21.5% |
| Equity | 10/15 | €49,978 | €62,928 | +€12,950 | +25.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €44,900 | €57,850 | +€12,950 | +28.8% |
| Distributable reserves | 133 | €44,900 | €57,850 | +€12,950 | +28.8% |
| Profit (loss) carried forward | 14 | €78 | €78 | = | 0.0% |
| Amounts payable | 17/49 | €20,556 | €22,772 | +€2,217 | +10.8% |
| Amounts payable within one year | 42/48 | €20,556 | €22,772 | +€2,217 | +10.8% |
| Trade debts | 44 | €1,297 | €838 | -€459 | -35.4% |
| Suppliers | 440/4 | €1,297 | €838 | -€459 | -35.4% |
| Taxes, remuneration and social security | 45 | €6,344 | €5,489 | -€856 | -13.5% |
| Taxes | 450/3 | €4,344 | €5,489 | +€1,144 | +26.3% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €12,914 | €16,446 | +€3,532 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,149 | €2,991 | +€842 | +39.2% |
| Other operating charges | 640/8 | €837 | €672 | -€165 | -19.7% |
| Non-recurring operating charges | 66A | €3,926 | - | -€3,926 | |
| Gross operating margin | 9900 | €27,863 | €22,832 | -€5,031 | -18.1% |
| Operating profit (loss) | 9901 | €20,951 | €19,169 | -€1,782 | -8.5% |
| Financial income | 75/76B | - | €210 | +€210 | |
| Recurring financial income | 75 | - | €210 | +€210 | |
| Financial charges | 65/66B | €282 | €45 | -€237 | -84.0% |
| Recurring financial charges | 65 | €282 | €45 | -€237 | -84.0% |
| Profit (loss) for the period before taxes | 9903 | €20,669 | €19,335 | -€1,334 | -6.5% |
| Income taxes | 67/77 | €4,344 | €5,552 | +€1,208 | +27.8% |
| Profit (loss) for the period | 9904 | €16,325 | €13,783 | -€2,542 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,325 | €13,783 | -€2,542 | -15.6% |
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 15 October 2026 via checked.be.