THICEGA: 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.
THICEGA
Largest movements
- Cash +€38,673
up €38,673 (+29.9%), from €129,441 to €168,113
mainly Net result for the year (+€47,793) and Other debts (+€30,335)
- Receivables within one year -€9,250
down €9,250 (-30.0%), from €30,849 to €21,599
of which Other amounts receivable: -€12,245
- Tangible fixed assets -€6,292
down €6,292 (-11.1%), from €56,535 to €50,244
of which Land and buildings: -€5,244
- Deferred charges and accrued income -€2,937
no longer reported in 2025 (was €2,937)
- Other debts +€30,335
up €30,335 (+92.1%), from €32,926 to €63,261
- Trade debts -€7,263
down €7,263 (-71.8%), from €10,113 to €2,850
- Debts after one year -€6,230
down €6,230 (-20.1%), from €30,946 to €24,716
- Reserves +€3,585
up €3,585 (+3.1%), from €115,113 to €118,697
- Gross operating margin -€16,026
down €16,026 (-16.9%), from €95,097 to €79,071
- Taxes -€3,523
down €3,523 (-14.7%), from €23,976 to €20,453
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 | €219,761 | €239,955 | +€20,194 | +9.2% |
| Fixed assets | 21/28 | €56,535 | €50,244 | -€6,292 | -11.1% |
| Tangible fixed assets | 22/27 | €56,535 | €50,244 | -€6,292 | -11.1% |
| Land and buildings | 22 | €54,233 | €48,988 | -€5,244 | -9.7% |
| Plant, machinery and equipment | 23 | €1,276 | €948 | -€328 | -25.7% |
| Other tangible fixed assets | 26 | €1,027 | €307 | -€719 | -70.1% |
| Current assets | 29/58 | €163,226 | €189,712 | +€26,486 | +16.2% |
| Amounts receivable within one year | 40/41 | €30,849 | €21,599 | -€9,250 | -30.0% |
| Trade receivables | 40 | €18,604 | €21,599 | +€2,995 | +16.1% |
| Other amounts receivable | 41 | €12,245 | - | -€12,245 | |
| Cash at bank and in hand | 54/58 | €129,441 | €168,113 | +€38,673 | +29.9% |
| Deferred charges and accrued income | 490/1 | €2,937 | - | -€2,937 | |
| Total equity and liabilities | 10/49 | €219,761 | €239,955 | +€20,194 | +9.2% |
| Equity | 10/15 | €115,213 | €118,797 | +€3,585 | +3.1% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €115,113 | €118,697 | +€3,585 | +3.1% |
| Distributable reserves | 133 | €115,113 | €118,697 | +€3,585 | +3.1% |
| Amounts payable | 17/49 | €104,549 | €121,158 | +€16,609 | +15.9% |
| Amounts payable after more than one year | 17 | €30,946 | €24,716 | -€6,230 | -20.1% |
| Financial debts | 170/4 | €30,946 | €24,716 | -€6,230 | -20.1% |
| Amounts payable within one year | 42/48 | €73,603 | €95,768 | +€22,165 | +30.1% |
| Current portion of amounts payable after more than one year | 42 | €6,085 | €6,230 | +€145 | +2.4% |
| Trade debts | 44 | €10,113 | €2,850 | -€7,263 | -71.8% |
| Suppliers | 440/4 | €10,113 | €2,850 | -€7,263 | -71.8% |
| Taxes, remuneration and social security | 45 | €24,479 | €23,427 | -€1,053 | -4.3% |
| Taxes | 450/3 | €24,479 | €23,427 | -€1,053 | -4.3% |
| Other amounts payable | 47/48 | €32,926 | €63,261 | +€30,335 | +92.1% |
| Accrued charges and deferred income | 492/3 | - | €674 | +€674 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,292 | €6,292 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,793 | €2,499 | -€294 | -10.5% |
| Gross operating margin | 9900 | €95,097 | €79,071 | -€16,026 | -16.9% |
| Operating profit (loss) | 9901 | €86,012 | €70,280 | -€15,732 | -18.3% |
| Financial income | 75/76B | €371 | - | -€371 | |
| Recurring financial income | 75 | €371 | - | -€371 | |
| Financial charges | 65/66B | €2,163 | €2,035 | -€128 | -5.9% |
| Recurring financial charges | 65 | €2,163 | €2,035 | -€128 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €84,220 | €68,246 | -€15,975 | -19.0% |
| Income taxes | 67/77 | €23,976 | €20,453 | -€3,523 | -14.7% |
| Profit (loss) for the period | 9904 | €60,244 | €47,793 | -€12,451 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,244 | €47,793 | -€12,451 | -20.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.