THICAMED: 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.
THICAMED
Largest movements
- Cash +€46,363
up €46,363 (+48.0%), from €96,683 to €143,047
mainly Depreciation (+€46,020) and Net result for the year (+€28,691)
- Intangible fixed assets -€40,438
down €40,438 (-20.0%), from €202,188 to €161,750
- Deferred charges and accrued income -€9,942
down €9,942 (-23.6%), from €42,198 to €32,256
- Tangible fixed assets -€5,582
down €5,582 (-44.4%), from €12,587 to €7,005
- Receivables within one year -€4,119
down €4,119 (-25.1%), from €16,429 to €12,310
- Other debts -€36,181
down €36,181 (-26.0%), from €139,381 to €103,200
- Reserves +€28,691
up €28,691 (+13.6%), from €210,712 to €239,403
- Tax, wage and social debts -€3,968
down €3,968 (-28.9%), from €13,706 to €9,738
- Gross operating margin -€42,525
down €42,525 (-32.8%), from €129,817 to €87,292
- Taxes -€11,244
down €11,244 (-49.2%), from €22,836 to €11,592
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 | €370,085 | €356,367 | -€13,718 | -3.7% |
| Fixed assets | 21/28 | €214,775 | €168,755 | -€46,020 | -21.4% |
| Intangible fixed assets | 21 | €202,188 | €161,750 | -€40,438 | -20.0% |
| Tangible fixed assets | 22/27 | €12,587 | €7,005 | -€5,582 | -44.4% |
| Furniture and vehicles | 24 | €12,587 | €7,005 | -€5,582 | -44.4% |
| Current assets | 29/58 | €155,310 | €187,612 | +€32,302 | +20.8% |
| Amounts receivable within one year | 40/41 | €16,429 | €12,310 | -€4,119 | -25.1% |
| Other amounts receivable | 41 | €16,429 | €12,310 | -€4,119 | -25.1% |
| Cash at bank and in hand | 54/58 | €96,683 | €143,047 | +€46,363 | +48.0% |
| Deferred charges and accrued income | 490/1 | €42,198 | €32,256 | -€9,942 | -23.6% |
| Total equity and liabilities | 10/49 | €370,085 | €356,367 | -€13,718 | -3.7% |
| Equity | 10/15 | €214,712 | €243,403 | +€28,691 | +13.4% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €210,712 | €239,403 | +€28,691 | +13.6% |
| Distributable reserves | 133 | €210,712 | €239,403 | +€28,691 | +13.6% |
| Amounts payable | 17/49 | €155,373 | €112,964 | -€42,409 | -27.3% |
| Amounts payable within one year | 42/48 | €155,373 | €112,964 | -€42,409 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €2,252 | - | -€2,252 | |
| Trade debts | 44 | €34 | €26 | -€8 | -24.5% |
| Suppliers | 440/4 | €34 | €26 | -€8 | -24.5% |
| Taxes, remuneration and social security | 45 | €13,706 | €9,738 | -€3,968 | -28.9% |
| Taxes | 450/3 | €13,706 | €9,738 | -€3,968 | -28.9% |
| Other amounts payable | 47/48 | €139,381 | €103,200 | -€36,181 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,237 | €46,020 | -€217 | -0.5% |
| Other operating charges | 640/8 | €1,799 | €809 | -€990 | -55.0% |
| Gross operating margin | 9900 | €129,817 | €87,292 | -€42,525 | -32.8% |
| Operating profit (loss) | 9901 | €81,780 | €40,463 | -€41,318 | -50.5% |
| Financial charges | 65/66B | €256 | €179 | -€77 | -30.0% |
| Recurring financial charges | 65 | €256 | €179 | -€77 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €81,524 | €40,283 | -€41,241 | -50.6% |
| Income taxes | 67/77 | €22,836 | €11,592 | -€11,244 | -49.2% |
| Profit (loss) for the period | 9904 | €58,688 | €28,691 | -€29,997 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €58,688 | €28,691 | -€29,997 | -51.1% |
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 29 September 2026 via checked.be.