THILL-ROYAUX: 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.
THILL-ROYAUX
Largest movements
- Tangible fixed assets +€37,673
up €37,673 (+437%), from €8,622 to €46,295
of which Plant, machinery and equipment: +€32,644
- Stocks and contracts -€29,235
down €29,235 (-65.3%), from €44,802 to €15,567
- Receivables within one year +€24,475
up €24,475 (+10,846%), from €226 to €24,701
of which Other amounts receivable: +€20,567
- Cash +€9,083
up €9,083 (+495%), from €1,833 to €10,916
mainly Trade debts (+€90,055) and Stocks and contracts (+€29,235)
- Trade debts +€90,055
up €90,055 (+1,059%), from €8,507 to €98,562
- Other debts -€49,012
down €49,012 (-87.3%), from €56,146 to €7,134
- Profit (loss) carried forward +€8,453
up €8,453 (+23.2%), from -€36,456 to -€28,002
- Short-term financial debts -€4,962
down €4,962 (-100%), from €4,962 to €0
- Tax, wage and social debts -€2,539
down €2,539 (-100%), from €2,539 to €0
of which Taxes: -€1,863
- Gross operating margin +€23,660
up €23,660, from -€9,529 to €14,131
- Staff costs -€1,872
down €1,872 (-100%), from €1,872 to €0
- Depreciation +€820
up €820 (+21.2%), from €3,874 to €4,694
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 | €55,843 | €97,839 | +€41,996 | +75.2% |
| Fixed assets | 21/28 | €8,982 | €46,655 | +€37,673 | +419% |
| Tangible fixed assets | 22/27 | €8,622 | €46,295 | +€37,673 | +437% |
| Land and buildings | 22 | €2,151 | €2,151 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,588 | €37,233 | +€32,644 | +711% |
| Furniture and vehicles | 24 | €1,883 | €4,746 | +€2,863 | +152% |
| Other tangible fixed assets | 26 | - | €2,165 | +€2,165 | |
| Financial fixed assets | 28 | €360 | €360 | = | 0.0% |
| Current assets | 29/58 | €46,861 | €51,184 | +€4,323 | +9.2% |
| Stocks and contracts in progress | 3 | €44,802 | €15,567 | -€29,235 | -65.3% |
| Stocks | 30/36 | €44,802 | €15,567 | -€29,235 | -65.3% |
| Amounts receivable within one year | 40/41 | €226 | €24,701 | +€24,475 | +10,846% |
| Trade receivables | 40 | €226 | €4,134 | +€3,909 | +1,732% |
| Other amounts receivable | 41 | €0 | €20,567 | +€20,567 | |
| Cash at bank and in hand | 54/58 | €1,833 | €10,916 | +€9,083 | +495% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €55,843 | €97,839 | +€41,996 | +75.2% |
| Equity | 10/15 | -€16,311 | -€7,857 | +€8,453 | +51.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,545 | €1,545 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,545 | €1,545 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,545 | €1,545 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,456 | -€28,002 | +€8,453 | +23.2% |
| Amounts payable | 17/49 | €72,154 | €105,696 | +€33,542 | +46.5% |
| Amounts payable within one year | 42/48 | €72,154 | €105,696 | +€33,542 | +46.5% |
| Financial debts | 43 | €4,962 | €0 | -€4,962 | -100% |
| Credit institutions | 430/8 | €4,962 | €0 | -€4,962 | -100% |
| Trade debts | 44 | €8,507 | €98,562 | +€90,055 | +1,059% |
| Suppliers | 440/4 | €8,507 | €98,562 | +€90,055 | +1,059% |
| Taxes, remuneration and social security | 45 | €2,539 | €0 | -€2,539 | -100% |
| Taxes | 450/3 | €1,863 | €0 | -€1,863 | -100% |
| Remuneration and social security | 454/9 | €676 | €0 | -€676 | -100% |
| Other amounts payable | 47/48 | €56,146 | €7,134 | -€49,012 | -87.3% |
| Remuneration, social security and pensions | 62 | €1,872 | €0 | -€1,872 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,874 | €4,694 | +€820 | +21.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€9,529 | €14,131 | +€23,660 | |
| Operating profit (loss) | 9901 | -€15,663 | €9,037 | +€24,700 | |
| Financial income | 75/76B | €0 | €1 | +€1 | +727% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +727% |
| Financial charges | 65/66B | €695 | €585 | -€110 | -15.9% |
| Recurring financial charges | 65 | €695 | €585 | -€110 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,357 | €8,453 | +€24,811 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100% |
| Profit (loss) for the period | 9904 | -€16,358 | €8,453 | +€24,811 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,358 | €8,453 | +€24,811 |
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.