THIERS TRADING: 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 TRADING
Largest movements
- Stocks and contracts -€53,750
down €53,750 (-39.8%), from €135,009 to €81,259
- Cash +€13,744
up €13,744 (+159%), from €8,635 to €22,379
mainly Stocks and contracts (+€53,750) and Net result for the year (+€40,191)
- Receivables within one year +€3,426
up €3,426 (+8.2%), from €41,806 to €45,232
of which Trade receivables: +€4,344
- Other debts -€62,967
down €62,967 (-21.4%), from €294,220 to €231,253
- Profit (loss) carried forward +€40,191
up €40,191 (+21.2%), from -€189,888 to -€149,697
- Trade debts -€16,300
down €16,300 (-24.4%), from €66,881 to €50,581
- Gross operating margin +€78,391
up €78,391, from -€36,021 to €42,370
- Write-downs -€38,288
no longer reported in 2025 (was €38,288)
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 | €189,813 | €150,896 | -€38,917 | -20.5% |
| Fixed assets | 21/28 | €3,665 | €2,008 | -€1,657 | -45.2% |
| Tangible fixed assets | 22/27 | €3,665 | €2,008 | -€1,657 | -45.2% |
| Plant, machinery and equipment | 23 | €3,493 | €2,008 | -€1,485 | -42.5% |
| Furniture and vehicles | 24 | €172 | - | -€172 | |
| Current assets | 29/58 | €186,148 | €148,888 | -€37,260 | -20.0% |
| Stocks and contracts in progress | 3 | €135,009 | €81,259 | -€53,750 | -39.8% |
| Stocks | 30/36 | €135,009 | €81,259 | -€53,750 | -39.8% |
| Amounts receivable within one year | 40/41 | €41,806 | €45,232 | +€3,426 | +8.2% |
| Trade receivables | 40 | €25,607 | €29,950 | +€4,344 | +17.0% |
| Other amounts receivable | 41 | €16,200 | €15,282 | -€918 | -5.7% |
| Cash at bank and in hand | 54/58 | €8,635 | €22,379 | +€13,744 | +159% |
| Deferred charges and accrued income | 490/1 | €698 | €18 | -€679 | -97.4% |
| Total equity and liabilities | 10/49 | €189,813 | €150,896 | -€38,917 | -20.5% |
| Equity | 10/15 | -€171,288 | -€131,097 | +€40,191 | +23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,888 | -€149,697 | +€40,191 | +21.2% |
| Amounts payable | 17/49 | €361,101 | €281,993 | -€79,109 | -21.9% |
| Amounts payable within one year | 42/48 | €361,101 | €281,993 | -€79,109 | -21.9% |
| Trade debts | 44 | €66,881 | €50,581 | -€16,300 | -24.4% |
| Suppliers | 440/4 | €66,881 | €50,581 | -€16,300 | -24.4% |
| Taxes, remuneration and social security | 45 | - | €159 | +€159 | |
| Taxes | 450/3 | - | €159 | +€159 | |
| Other amounts payable | 47/48 | €294,220 | €231,253 | -€62,967 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,782 | €1,657 | -€124 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,288 | - | -€38,288 | |
| Other operating charges | 640/8 | €639 | €656 | +€16 | +2.6% |
| Gross operating margin | 9900 | -€36,021 | €42,370 | +€78,391 | |
| Operating profit (loss) | 9901 | -€76,730 | €40,057 | +€116,787 | |
| Financial income | 75/76B | - | €365 | +€365 | |
| Recurring financial income | 75 | - | €365 | +€365 | |
| Financial charges | 65/66B | €95 | €231 | +€136 | +143% |
| Recurring financial charges | 65 | €95 | €231 | +€136 | +143% |
| Profit (loss) for the period before taxes | 9903 | -€76,825 | €40,191 | +€117,016 | |
| Profit (loss) for the period | 9904 | -€76,825 | €40,191 | +€117,016 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,825 | €40,191 | +€117,016 |
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 26 October 2026 via checked.be.