THIJSBAERT: 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.
THIJSBAERT
Largest movements
- Cash -€52,298
down €52,298 (-23.9%), from €218,412 to €166,114
mainly Other debts (-€49,525) and Receivables within one year (-€22,169)
- Receivables within one year +€22,169
up €22,169 (+152.6%), from €14,531 to €36,701
of which Trade receivables: +€16,133
- Tangible fixed assets -€15,939
down €15,939 (-25.4%), from €62,723 to €46,784
of which Furniture and vehicles: -€16,144
- Deferred charges and accrued income -€9,609
down €9,609 (-68.9%), from €13,950 to €4,342
- Other debts -€49,525
down €49,525 (-88.3%), from €56,100 to €6,576
- Tax, wage and social debts -€4,139
no longer reported in 2025 (was €4,139)
- Gross operating margin -€12,044
down €12,044 (-49.1%), from €24,543 to €12,499
- Depreciation +€7,637
up €7,637 (+71.3%), from €10,712 to €18,349
- Financial income +€3,922
up €3,922 (+269.1%), from €1,457 to €5,379
- Taxes -€2,545
down €2,545 (-83.2%), from €3,058 to €513
- Other operating charges +€288
up €288 (+18.3%), from €1,573 to €1,861
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 | €310,974 | €255,264 | -€55,710 | -17.9% |
| Fixed assets | 21/28 | €62,723 | €46,784 | -€15,939 | -25.4% |
| Tangible fixed assets | 22/27 | €62,723 | €46,784 | -€15,939 | -25.4% |
| Land and buildings | 22 | €1,228 | €1,179 | -€49 | -4.0% |
| Plant, machinery and equipment | 23 | €1,080 | €1,334 | +€254 | +23.5% |
| Furniture and vehicles | 24 | €60,415 | €44,271 | -€16,144 | -26.7% |
| Current assets | 29/58 | €248,251 | €208,480 | -€39,771 | -16.0% |
| Stocks and contracts in progress | 3 | €1,357 | €1,324 | -€33 | -2.5% |
| Stocks | 30/36 | €1,357 | €1,324 | -€33 | -2.5% |
| Amounts receivable within one year | 40/41 | €14,531 | €36,701 | +€22,169 | +152.6% |
| Trade receivables | 40 | €7,227 | €23,360 | +€16,133 | +223.2% |
| Other amounts receivable | 41 | €7,304 | €13,340 | +€6,036 | +82.6% |
| Cash at bank and in hand | 54/58 | €218,412 | €166,114 | -€52,298 | -23.9% |
| Deferred charges and accrued income | 490/1 | €13,950 | €4,342 | -€9,609 | -68.9% |
| Total equity and liabilities | 10/49 | €310,974 | €255,264 | -€55,710 | -17.9% |
| Equity | 10/15 | €244,004 | €241,005 | -€2,999 | -1.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €145,950 | €145,950 | = | 0.0% |
| Distributable reserves | 133 | €145,950 | €145,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,454 | €76,455 | -€2,999 | -3.8% |
| Amounts payable | 17/49 | €66,970 | €14,259 | -€52,711 | -78.7% |
| Amounts payable within one year | 42/48 | €66,553 | €13,589 | -€52,964 | -79.6% |
| Trade debts | 44 | €6,314 | €7,013 | +€699 | +11.1% |
| Suppliers | 440/4 | €6,314 | €7,013 | +€699 | +11.1% |
| Taxes, remuneration and social security | 45 | €4,139 | - | -€4,139 | |
| Taxes | 450/3 | €4,139 | - | -€4,139 | |
| Other amounts payable | 47/48 | €56,100 | €6,576 | -€49,525 | -88.3% |
| Accrued charges and deferred income | 492/3 | €417 | €671 | +€253 | +60.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,712 | €18,349 | +€7,637 | +71.3% |
| Other operating charges | 640/8 | €1,573 | €1,861 | +€288 | +18.3% |
| Gross operating margin | 9900 | €24,543 | €12,499 | -€12,044 | -49.1% |
| Operating profit (loss) | 9901 | €12,257 | -€7,712 | -€19,970 | |
| Financial income | 75/76B | €1,457 | €5,379 | +€3,922 | +269.1% |
| Recurring financial income | 75 | €1,457 | €5,379 | +€3,922 | +269.1% |
| Financial charges | 65/66B | €142 | €154 | +€12 | +8.2% |
| Recurring financial charges | 65 | €142 | €154 | +€12 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €13,573 | -€2,486 | -€16,059 | |
| Income taxes | 67/77 | €3,058 | €513 | -€2,545 | -83.2% |
| Profit (loss) for the period | 9904 | €10,515 | -€2,999 | -€13,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,515 | -€2,999 | -€13,514 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.