Thilise: 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.
Thilise
Largest movements
- Stocks and contracts +€50,000
up €50,000 (+417%), from €12,000 to €62,000
- Current investments +€20,000
up €20,000 (+20.0%), from €100,000 to €120,000
- Cash -€11,527
down €11,527 (-25.6%), from €45,100 to €33,573
mainly Stocks and contracts (-€50,000) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets -€4,323
down €4,323 (-24.3%), from €17,818 to €13,495
of which Land and buildings: -€3,121
- Deferred charges and accrued income -€3,227
down €3,227 (-35.0%), from €9,230 to €6,003
- Profit (loss) carried forward -€50,000
down €50,000 (-30.9%), from €162,002 to €112,002
- Trade debts +€48,261
up €48,261 (+1,555%), from €3,104 to €51,365
- Other debts +€40,407
up €40,407 (+1,244%), from €3,247 to €43,655
- Reserves +€14,518
up €14,518 (+781%), from €1,860 to €16,378
- Tax, wage and social debts -€5,146
down €5,146 (-42.9%), from €12,006 to €6,860
of which Remuneration and social security: -€2,722
- Gross operating margin -€15,571
down €15,571 (-34.8%), from €44,784 to €29,213
- Financial income -€1,686
down €1,686 (-60.2%), from €2,800 to €1,114
- Depreciation -€1,521
down €1,521 (-18.5%), from €8,240 to €6,718
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 | €198,321 | €246,360 | +€48,040 | +24.2% |
| Fixed assets | 21/28 | €17,818 | €13,495 | -€4,323 | -24.3% |
| Tangible fixed assets | 22/27 | €17,818 | €13,495 | -€4,323 | -24.3% |
| Land and buildings | 22 | €11,855 | €8,733 | -€3,121 | -26.3% |
| Plant, machinery and equipment | 23 | €1,499 | €325 | -€1,174 | -78.3% |
| Furniture and vehicles | 24 | €4,464 | €4,437 | -€27 | -0.6% |
| Current assets | 29/58 | €180,503 | €232,865 | +€52,362 | +29.0% |
| Stocks and contracts in progress | 3 | €12,000 | €62,000 | +€50,000 | +417% |
| Stocks | 30/36 | €12,000 | €62,000 | +€50,000 | +417% |
| Amounts receivable within one year | 40/41 | €14,173 | €11,290 | -€2,884 | -20.3% |
| Trade receivables | 40 | €13,703 | €9,741 | -€3,963 | -28.9% |
| Other amounts receivable | 41 | €470 | €1,549 | +€1,079 | +230% |
| Current investments | 50/53 | €100,000 | €120,000 | +€20,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €45,100 | €33,573 | -€11,527 | -25.6% |
| Deferred charges and accrued income | 490/1 | €9,230 | €6,003 | -€3,227 | -35.0% |
| Total equity and liabilities | 10/49 | €198,321 | €246,360 | +€48,040 | +24.2% |
| Equity | 10/15 | €179,962 | €144,480 | -€35,482 | -19.7% |
| Contributions | 10/11 | €16,100 | €16,100 | = | 0.0% |
| Reserves | 13 | €1,860 | €16,378 | +€14,518 | +781% |
| Distributable reserves | 133 | €1,860 | €16,378 | +€14,518 | +781% |
| Profit (loss) carried forward | 14 | €162,002 | €112,002 | -€50,000 | -30.9% |
| Amounts payable | 17/49 | €18,358 | €101,880 | +€83,522 | +455% |
| Amounts payable within one year | 42/48 | €18,358 | €101,880 | +€83,522 | +455% |
| Trade debts | 44 | €3,104 | €51,365 | +€48,261 | +1,555% |
| Suppliers | 440/4 | €3,104 | €51,365 | +€48,261 | +1,555% |
| Taxes, remuneration and social security | 45 | €12,006 | €6,860 | -€5,146 | -42.9% |
| Taxes | 450/3 | €9,285 | €6,860 | -€2,425 | -26.1% |
| Remuneration and social security | 454/9 | €2,722 | €0 | -€2,722 | -100% |
| Other amounts payable | 47/48 | €3,247 | €43,655 | +€40,407 | +1,244% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,240 | €6,718 | -€1,521 | -18.5% |
| Other operating charges | 640/8 | €1,459 | €1,457 | -€3 | -0.2% |
| Gross operating margin | 9900 | €44,784 | €29,213 | -€15,571 | -34.8% |
| Operating profit (loss) | 9901 | €35,086 | €21,038 | -€14,047 | -40.0% |
| Financial income | 75/76B | €2,800 | €1,114 | -€1,686 | -60.2% |
| Recurring financial income | 75 | €2,800 | €1,114 | -€1,686 | -60.2% |
| Financial charges | 65/66B | €352 | €232 | -€120 | -34.1% |
| Recurring financial charges | 65 | €352 | €232 | -€120 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €37,534 | €21,921 | -€15,613 | -41.6% |
| Income taxes | 67/77 | €7,077 | €7,403 | +€326 | +4.6% |
| Profit (loss) for the period | 9904 | €30,457 | €14,518 | -€15,939 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,457 | €14,518 | -€15,939 | -52.3% |
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 25 October 2026 via checked.be.