Thils Vincent: 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.
Thils Vincent
Largest movements
- Cash +€9,131
up €9,131 (+66.6%), from €13,715 to €22,846
mainly Net result for the year (+€8,591) and Deferred charges and accrued income (+€4,384)
- Tangible fixed assets +€5,254
up €5,254 (+182%), from €2,879 to €8,133
of which Plant, machinery and equipment: +€6,271
- Deferred charges and accrued income -€4,384
down €4,384 (-87.7%), from €5,000 to €616
- Receivables within one year -€749
down €749 (-9.8%), from €7,614 to €6,865
of which Trade receivables: -€2,853
- Profit (loss) carried forward +€8,591
up €8,591 (+53.5%), from €16,067 to €24,658
- Trade debts +€490
up €490 (+53.3%), from €919 to €1,409
- Gross operating margin +€7,980
up €7,980 (+171%), from €4,661 to €12,641
- Depreciation +€953
up €953 (+74.1%), from €1,286 to €2,240
- Financial income +€647
up €647 (+248%), from €261 to €908
- Other operating charges +€447
up €447 (+301%), from €149 to €596
- Taxes +€426
up €426 (+26.9%), from €1,583 to €2,009
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 | €29,208 | €38,459 | +€9,251 | +31.7% |
| Fixed assets | 21/28 | €2,879 | €8,133 | +€5,254 | +182% |
| Tangible fixed assets | 22/27 | €2,879 | €8,133 | +€5,254 | +182% |
| Plant, machinery and equipment | 23 | €364 | €6,636 | +€6,271 | +1,721% |
| Furniture and vehicles | 24 | €2,515 | €1,497 | -€1,017 | -40.5% |
| Current assets | 29/58 | €26,329 | €30,326 | +€3,997 | +15.2% |
| Amounts receivable within one year | 40/41 | €7,614 | €6,865 | -€749 | -9.8% |
| Trade receivables | 40 | €5,872 | €3,019 | -€2,853 | -48.6% |
| Other amounts receivable | 41 | €1,742 | €3,846 | +€2,103 | +121% |
| Cash at bank and in hand | 54/58 | €13,715 | €22,846 | +€9,131 | +66.6% |
| Deferred charges and accrued income | 490/1 | €5,000 | €616 | -€4,384 | -87.7% |
| Total equity and liabilities | 10/49 | €29,208 | €38,459 | +€9,251 | +31.7% |
| Equity | 10/15 | €26,067 | €34,658 | +€8,591 | +33.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,067 | €24,658 | +€8,591 | +53.5% |
| Amounts payable | 17/49 | €3,141 | €3,801 | +€660 | +21.0% |
| Amounts payable within one year | 42/48 | €3,141 | €3,801 | +€660 | +21.0% |
| Trade debts | 44 | €919 | €1,409 | +€490 | +53.3% |
| Suppliers | 440/4 | €919 | €1,409 | +€490 | +53.3% |
| Taxes, remuneration and social security | 45 | €2,125 | €2,070 | -€55 | -2.6% |
| Taxes | 450/3 | €2,125 | €2,070 | -€55 | -2.6% |
| Other amounts payable | 47/48 | €98 | €323 | +€226 | +231% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,286 | €2,240 | +€953 | +74.1% |
| Other operating charges | 640/8 | €149 | €596 | +€447 | +301% |
| Gross operating margin | 9900 | €4,661 | €12,641 | +€7,980 | +171% |
| Operating profit (loss) | 9901 | €3,226 | €9,805 | +€6,579 | +204% |
| Financial income | 75/76B | €261 | €908 | +€647 | +248% |
| Recurring financial income | 75 | €261 | €908 | +€647 | +248% |
| Financial charges | 65/66B | €271 | €113 | -€158 | -58.2% |
| Recurring financial charges | 65 | €271 | €113 | -€158 | -58.2% |
| Profit (loss) for the period before taxes | 9903 | €3,216 | €10,600 | +€7,384 | +230% |
| Income taxes | 67/77 | €1,583 | €2,009 | +€426 | +26.9% |
| Profit (loss) for the period | 9904 | €1,633 | €8,591 | +€6,958 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €1,633 | €8,591 | +€6,958 | +426% |
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 20 October 2026 via checked.be.