Thiluxsan Management: 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.
Thiluxsan Management
Largest movements
- Receivables within one year +€12,129
up €12,129 (+56.8%), from €21,340 to €33,469
of which Trade receivables: +€12,458
- Cash -€2,001
down €2,001 (-92.6%), from €2,160 to €159
mainly Debts after one year (-€19,191) and Receivables within one year (-€12,129)
- Debts after one year -€19,191
down €19,191 (-22.7%), from €84,505 to €65,314
- Profit (loss) carried forward +€13,977
up €13,977 (+106%), from €13,217 to €27,194
- Tax, wage and social debts +€6,133
up €6,133 (+63.9%), from €9,600 to €15,733
of which Remuneration and social security: +€8,729
- Trade debts +€5,513
new in 2025: €5,513
- Current portion of long-term debt +€3,695
up €3,695 (+23.8%), from €15,495 to €19,191
- Taxes -€2,368
down €2,368 (-48.1%), from €4,925 to €2,558
- Gross operating margin -€1,369
down €1,369 (-6.4%), from €21,453 to €20,084
- Financial charges +€237
up €237 (+7.4%), from €3,193 to €3,430
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 | €172,100 | €182,228 | +€10,128 | +5.9% |
| Fixed assets | 21/28 | €148,600 | €148,600 | = | 0.0% |
| Financial fixed assets | 28 | €148,600 | €148,600 | = | 0.0% |
| Current assets | 29/58 | €23,500 | €33,628 | +€10,128 | +43.1% |
| Amounts receivable within one year | 40/41 | €21,340 | €33,469 | +€12,129 | +56.8% |
| Trade receivables | 40 | €20,873 | €33,330 | +€12,458 | +59.7% |
| Other amounts receivable | 41 | €468 | €139 | -€329 | -70.3% |
| Cash at bank and in hand | 54/58 | €2,160 | €159 | -€2,001 | -92.6% |
| Total equity and liabilities | 10/49 | €172,100 | €182,228 | +€10,128 | +5.9% |
| Equity | 10/15 | €25,717 | €39,694 | +€13,977 | +54.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,217 | €27,194 | +€13,977 | +106% |
| Amounts payable | 17/49 | €146,383 | €142,534 | -€3,849 | -2.6% |
| Amounts payable after more than one year | 17 | €84,505 | €65,314 | -€19,191 | -22.7% |
| Financial debts | 170/4 | €84,505 | €65,314 | -€19,191 | -22.7% |
| Amounts payable within one year | 42/48 | €61,878 | €77,220 | +€15,341 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €15,495 | €19,191 | +€3,695 | +23.8% |
| Trade debts | 44 | - | €5,513 | +€5,513 | |
| Suppliers | 440/4 | - | €5,513 | +€5,513 | |
| Taxes, remuneration and social security | 45 | €9,600 | €15,733 | +€6,133 | +63.9% |
| Taxes | 450/3 | €9,600 | €7,004 | -€2,596 | -27.0% |
| Remuneration and social security | 454/9 | - | €8,729 | +€8,729 | |
| Other amounts payable | 47/48 | €36,783 | €36,783 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €21,453 | €20,084 | -€1,369 | -6.4% |
| Operating profit (loss) | 9901 | €21,335 | €19,964 | -€1,371 | -6.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,193 | €3,430 | +€237 | +7.4% |
| Recurring financial charges | 65 | €3,193 | €3,430 | +€237 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €18,142 | €16,534 | -€1,608 | -8.9% |
| Income taxes | 67/77 | €4,925 | €2,558 | -€2,368 | -48.1% |
| Profit (loss) for the period | 9904 | €13,217 | €13,977 | +€760 | +5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,217 | €13,977 | +€760 | +5.7% |
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.