Thiers Properties: 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.
Thiers Properties
Largest movements
- Cash -€221,748
down €221,748 (-85.2%), from €260,118 to €38,371
mainly Short-term financial debts (-€260,273) and Receivables within one year (-€131,494)
- Receivables within one year +€131,494
up €131,494 (+93.2%), from €141,013 to €272,507
of which Other amounts receivable: +€107,956
- Stocks and contracts -€97,505
down €97,505 (-10.5%), from €925,503 to €827,999
- Short-term financial debts -€260,273
down €260,273 (-100%), from €260,273 to €0
- Reserves +€96,251
up €96,251 (+10.9%), from €885,744 to €981,995
of which Distributable reserves: +€96,251
- Financial charges -€13,766
down €13,766 (-30.5%), from €45,089 to €31,323
- Other operating charges -€10,964
down €10,964 (-48.4%), from €22,636 to €11,672
- Financial income +€7,031
up €7,031 (+13,169%), from €53 to €7,084
of which Non-recurring financial income: +€3,576
- Taxes +€7,021
up €7,021 (+25.1%), from €28,013 to €35,035
- Gross operating margin -€3,281
down €3,281 (-1.7%), from €192,989 to €189,708
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 | €2,925,132 | €2,718,542 | -€206,591 | -7.1% |
| Fixed assets | 21/28 | €1,596,528 | €1,574,016 | -€22,512 | -1.4% |
| Tangible fixed assets | 22/27 | €570,218 | €547,706 | -€22,512 | -3.9% |
| Land and buildings | 22 | €570,218 | €547,706 | -€22,512 | -3.9% |
| Financial fixed assets | 28 | €1,026,310 | €1,026,310 | = | 0.0% |
| Current assets | 29/58 | €1,328,604 | €1,144,526 | -€184,078 | -13.9% |
| Stocks and contracts in progress | 3 | €925,503 | €827,999 | -€97,505 | -10.5% |
| Stocks | 30/36 | €925,503 | €827,999 | -€97,505 | -10.5% |
| Amounts receivable within one year | 40/41 | €141,013 | €272,507 | +€131,494 | +93.2% |
| Trade receivables | 40 | €90,700 | €114,238 | +€23,538 | +26.0% |
| Other amounts receivable | 41 | €50,313 | €158,270 | +€107,956 | +215% |
| Cash at bank and in hand | 54/58 | €260,118 | €38,371 | -€221,748 | -85.2% |
| Deferred charges and accrued income | 490/1 | €1,969 | €5,649 | +€3,680 | +187% |
| Total equity and liabilities | 10/49 | €2,925,132 | €2,718,542 | -€206,591 | -7.1% |
| Equity | 10/15 | €910,744 | €1,006,995 | +€96,251 | +10.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €885,744 | €981,995 | +€96,251 | +10.9% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,238 | €23,238 | = | 0.0% |
| Distributable reserves | 133 | €860,006 | €956,257 | +€96,251 | +11.2% |
| Amounts payable | 17/49 | €2,014,388 | €1,711,547 | -€302,842 | -15.0% |
| Amounts payable after more than one year | 17 | €34,854 | €21,786 | -€13,068 | -37.5% |
| Financial debts | 170/4 | €34,854 | €21,786 | -€13,068 | -37.5% |
| Amounts payable within one year | 42/48 | €1,956,967 | €1,666,416 | -€290,551 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €12,557 | €13,068 | +€511 | +4.1% |
| Financial debts | 43 | €260,273 | €0 | -€260,273 | -100% |
| Credit institutions | 430/8 | €260,273 | €0 | -€260,273 | -100% |
| Trade debts | 44 | €28,792 | €13,141 | -€15,651 | -54.4% |
| Suppliers | 440/4 | €28,792 | €13,141 | -€15,651 | -54.4% |
| Taxes, remuneration and social security | 45 | €29,128 | €34,999 | +€5,871 | +20.2% |
| Taxes | 450/3 | €29,128 | €34,999 | +€5,871 | +20.2% |
| Other amounts payable | 47/48 | €1,626,217 | €1,605,208 | -€21,009 | -1.3% |
| Accrued charges and deferred income | 492/3 | €22,567 | €23,344 | +€777 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,512 | €22,512 | -€0 | 0.0% |
| Other operating charges | 640/8 | €22,636 | €11,672 | -€10,964 | -48.4% |
| Gross operating margin | 9900 | €192,989 | €189,708 | -€3,281 | -1.7% |
| Operating profit (loss) | 9901 | €147,841 | €155,524 | +€7,683 | +5.2% |
| Financial income | 75/76B | €53 | €7,084 | +€7,031 | +13,169% |
| Recurring financial income | 75 | €53 | €3,508 | +€3,454 | +6,470% |
| Non-recurring financial income | 76B | - | €3,576 | +€3,576 | |
| Financial charges | 65/66B | €45,089 | €31,323 | -€13,766 | -30.5% |
| Recurring financial charges | 65 | €45,089 | €31,323 | -€13,766 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €102,806 | €131,286 | +€28,480 | +27.7% |
| Income taxes | 67/77 | €28,013 | €35,035 | +€7,021 | +25.1% |
| Profit (loss) for the period | 9904 | €74,793 | €96,251 | +€21,458 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,793 | €96,251 | +€21,458 | +28.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.