THIL: 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.
THIL
Largest movements
- Receivables within one year +€315,044
up €315,044 (+544%), from €57,950 to €372,994
of which Other amounts receivable: +€327,619
- Tangible fixed assets -€27,887
down €27,887 (-6.7%), from €417,862 to €389,975
of which Land and buildings: -€25,000
- Deferred charges and accrued income +€13,406
new in 2025: €13,406
- Short-term financial debts +€301,134
up €301,134 (+4,517%), from €6,667 to €307,800
- Trade debts +€24,044
up €24,044 (+22,181%), from €108 to €24,153
- Current portion of long-term debt -€21,318
down €21,318 (-100%), from €21,318 to €0
- Gross operating margin -€158,137
down €158,137 (-81.3%), from €194,461 to €36,324
- Taxes -€49,964
down €49,964 (-95.0%), from €52,608 to €2,644
- Financial income +€12,681
up €12,681 (+418%), from €3,035 to €15,716
- Financial charges +€9,196
up €9,196 (+384%), from €2,394 to €11,590
- Depreciation -€6,913
down €6,913 (-19.9%), from €34,800 to €27,887
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 | €671,927 | €974,083 | +€302,156 | +45.0% |
| Fixed assets | 21/28 | €417,862 | €389,975 | -€27,887 | -6.7% |
| Tangible fixed assets | 22/27 | €417,862 | €389,975 | -€27,887 | -6.7% |
| Land and buildings | 22 | €405,000 | €380,000 | -€25,000 | -6.2% |
| Other tangible fixed assets | 26 | €12,862 | €9,975 | -€2,887 | -22.4% |
| Current assets | 29/58 | €254,065 | €584,108 | +€330,043 | +130% |
| Amounts receivable after more than one year | 29 | €193,919 | €197,708 | +€3,789 | +2.0% |
| Other amounts receivable | 291 | €193,919 | €197,708 | +€3,789 | +2.0% |
| Amounts receivable within one year | 40/41 | €57,950 | €372,994 | +€315,044 | +544% |
| Trade receivables | 40 | €21,450 | €8,875 | -€12,575 | -58.6% |
| Other amounts receivable | 41 | €36,500 | €364,119 | +€327,619 | +898% |
| Cash at bank and in hand | 54/58 | €2,196 | €0 | -€2,196 | -100% |
| Deferred charges and accrued income | 490/1 | - | €13,406 | +€13,406 | |
| Total equity and liabilities | 10/49 | €671,927 | €974,083 | +€302,156 | +45.0% |
| Equity | 10/15 | €589,222 | €594,118 | +€4,896 | +0.8% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €439,222 | €444,118 | +€4,896 | +1.1% |
| Distributable reserves | 133 | €439,222 | €444,118 | +€4,896 | +1.1% |
| Amounts payable | 17/49 | €82,705 | €379,965 | +€297,260 | +359% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €82,705 | €378,965 | +€296,260 | +358% |
| Current portion of amounts payable after more than one year | 42 | €21,318 | €0 | -€21,318 | -100% |
| Financial debts | 43 | €6,667 | €307,800 | +€301,134 | +4,517% |
| Credit institutions | 430/8 | €6,667 | €307,800 | +€301,134 | +4,517% |
| Trade debts | 44 | €108 | €24,153 | +€24,044 | +22,181% |
| Suppliers | 440/4 | €108 | €24,153 | +€24,044 | +22,181% |
| Taxes, remuneration and social security | 45 | €53,288 | €47,012 | -€6,276 | -11.8% |
| Taxes | 450/3 | €53,288 | €43,888 | -€9,400 | -17.6% |
| Remuneration and social security | 454/9 | - | €3,124 | +€3,124 | |
| Other amounts payable | 47/48 | €1,325 | €0 | -€1,325 | -100% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,800 | €27,887 | -€6,913 | -19.9% |
| Other operating charges | 640/8 | €5,320 | €5,023 | -€297 | -5.6% |
| Gross operating margin | 9900 | €194,461 | €36,324 | -€158,137 | -81.3% |
| Operating profit (loss) | 9901 | €154,341 | €3,414 | -€150,926 | -97.8% |
| Financial income | 75/76B | €3,035 | €15,716 | +€12,681 | +418% |
| Recurring financial income | 75 | €3,035 | €15,716 | +€12,681 | +418% |
| Financial charges | 65/66B | €2,394 | €11,590 | +€9,196 | +384% |
| Recurring financial charges | 65 | €2,394 | €11,590 | +€9,196 | +384% |
| Profit (loss) for the period before taxes | 9903 | €154,982 | €7,541 | -€147,441 | -95.1% |
| Income taxes | 67/77 | €52,608 | €2,644 | -€49,964 | -95.0% |
| Profit (loss) for the period | 9904 | €102,374 | €4,896 | -€97,477 | -95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,374 | €4,896 | -€97,477 | -95.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.