THIJO PROJECT CONSULT: 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.
THIJO PROJECT CONSULT
Largest movements
- Deferred charges and accrued income +€20,770
up €20,770 (+4,738%), from €438 to €21,208
- Cash -€16,025
down €16,025 (-25.5%), from €62,785 to €46,759
mainly Contributions, distributions and other (-€105,882) and Deferred charges and accrued income (-€20,770)
- Tangible fixed assets -€7,186
down €7,186 (-23.4%), from €30,699 to €23,512
of which Furniture and vehicles: -€5,237
- Other debts +€58,852
up €58,852 (+4,697%), from €1,253 to €60,105
- Profit (loss) carried forward -€58,235
down €58,235 (-60.1%), from €96,956 to €38,722
- Tax, wage and social debts -€2,956
down €2,956 (-24.8%), from €11,910 to €8,954
of which Remuneration and social security: -€3,047
- Gross operating margin +€4,925
up €4,925 (+7.7%), from €63,582 to €68,507
- Depreciation +€2,543
up €2,543 (+56.5%), from €4,500 to €7,043
- Other operating charges -€1,287
down €1,287 (-60.9%), from €2,113 to €826
- Taxes +€853
up €853 (+7.2%), from €11,773 to €12,626
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 | €112,700 | €109,601 | -€3,099 | -2.7% |
| Fixed assets | 21/28 | €30,699 | €23,512 | -€7,186 | -23.4% |
| Tangible fixed assets | 22/27 | €30,699 | €23,512 | -€7,186 | -23.4% |
| Plant, machinery and equipment | 23 | €229 | €0 | -€229 | -100% |
| Furniture and vehicles | 24 | €21,021 | €15,784 | -€5,237 | -24.9% |
| Other tangible fixed assets | 26 | €9,449 | €7,728 | -€1,720 | -18.2% |
| Current assets | 29/58 | €82,002 | €86,089 | +€4,087 | +5.0% |
| Amounts receivable within one year | 40/41 | €18,779 | €18,121 | -€657 | -3.5% |
| Trade receivables | 40 | €12,347 | €14,020 | +€1,673 | +13.5% |
| Other amounts receivable | 41 | €6,432 | €4,102 | -€2,330 | -36.2% |
| Cash at bank and in hand | 54/58 | €62,785 | €46,759 | -€16,025 | -25.5% |
| Deferred charges and accrued income | 490/1 | €438 | €21,208 | +€20,770 | +4,738% |
| Total equity and liabilities | 10/49 | €112,700 | €109,601 | -€3,099 | -2.7% |
| Equity | 10/15 | €97,956 | €39,722 | -€58,235 | -59.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,956 | €38,722 | -€58,235 | -60.1% |
| Amounts payable | 17/49 | €14,744 | €69,880 | +€55,136 | +374% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €13,924 | €69,263 | +€55,338 | +397% |
| Current portion of amounts payable after more than one year | 42 | €509 | €0 | -€509 | -100% |
| Trade debts | 44 | €253 | €204 | -€49 | -19.5% |
| Suppliers | 440/4 | €253 | €204 | -€49 | -19.5% |
| Taxes, remuneration and social security | 45 | €11,910 | €8,954 | -€2,956 | -24.8% |
| Taxes | 450/3 | €8,862 | €8,954 | +€91 | +1.0% |
| Remuneration and social security | 454/9 | €3,047 | €0 | -€3,047 | -100% |
| Other amounts payable | 47/48 | €1,253 | €60,105 | +€58,852 | +4,697% |
| Accrued charges and deferred income | 492/3 | €820 | €617 | -€202 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,500 | €7,043 | +€2,543 | +56.5% |
| Other operating charges | 640/8 | €2,113 | €826 | -€1,287 | -60.9% |
| Gross operating margin | 9900 | €63,582 | €68,507 | +€4,925 | +7.7% |
| Operating profit (loss) | 9901 | €56,969 | €60,638 | +€3,669 | +6.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -50.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -50.0% |
| Financial charges | 65/66B | €444 | €365 | -€79 | -17.9% |
| Recurring financial charges | 65 | €444 | €365 | -€79 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €56,525 | €60,273 | +€3,748 | +6.6% |
| Income taxes | 67/77 | €11,773 | €12,626 | +€853 | +7.2% |
| Profit (loss) for the period | 9904 | €44,753 | €47,647 | +€2,895 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,753 | €47,647 | +€2,895 | +6.5% |
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 19 October 2026 via checked.be.