THILVER: what changed
Two fiscal 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.
THILVER
Largest movements
- Receivables within one year +€44,183
up €44,183 (+82.6%), from €53,486 to €97,668
of which Other amounts receivable: +€44,093
- Profit (loss) carried forward +€40,087
up €40,087 (+90.2%), from €44,440 to €84,527
- Short-term financial debts +€5,037
new in 2025: €5,037
- Trade debts -€3,073
down €3,073 (-69.1%), from €4,445 to €1,372
- Tax, wage and social debts +€1,669
up €1,669 (+10.9%), from €15,291 to €16,960
of which Taxes: +€1,655
- Gross operating margin -€5,374
down €5,374 (-9.3%), from €57,699 to €52,325
- Taxes -€1,068
down €1,068 (-8.4%), from €12,737 to €11,669
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.
Cash bridge derived
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 | €67,175 | €110,895 | +€43,720 | +65.1% |
| Fixed assets | 21/28 | €350 | €350 | = | 0.0% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €66,825 | €110,545 | +€43,720 | +65.4% |
| Amounts receivable within one year | 40/41 | €53,486 | €97,668 | +€44,183 | +82.6% |
| Trade receivables | 40 | - | €90 | +€90 | |
| Other amounts receivable | 41 | €53,486 | €97,579 | +€44,093 | +82.4% |
| Cash at bank and in hand | 54/58 | €3,388 | €2,562 | -€826 | -24.4% |
| Deferred charges and accrued income | 490/1 | €9,952 | €10,315 | +€363 | +3.7% |
| Total equity and liabilities | 10/49 | €67,175 | €110,895 | +€43,720 | +65.1% |
| Equity | 10/15 | €47,440 | €87,527 | +€40,087 | +84.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,440 | €84,527 | +€40,087 | +90.2% |
| Amounts payable | 17/49 | €19,735 | €23,368 | +€3,633 | +18.4% |
| Amounts payable within one year | 42/48 | €19,735 | €23,368 | +€3,633 | +18.4% |
| Financial debts | 43 | - | €5,037 | +€5,037 | |
| Credit institutions | 430/8 | - | €5,037 | +€5,037 | |
| Trade debts | 44 | €4,445 | €1,372 | -€3,073 | -69.1% |
| Suppliers | 440/4 | €4,445 | €1,372 | -€3,073 | -69.1% |
| Taxes, remuneration and social security | 45 | €15,291 | €16,960 | +€1,669 | +10.9% |
| Taxes | 450/3 | €13,453 | €15,108 | +€1,655 | +12.3% |
| Remuneration and social security | 454/9 | €1,838 | €1,852 | +€14 | +0.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €57,699 | €52,325 | -€5,374 | -9.3% |
| Operating profit (loss) | 9901 | €57,312 | €51,925 | -€5,387 | -9.4% |
| Financial income | 75/76B | €0 | €12 | +€12 | +5568.2% |
| Recurring financial income | 75 | €0 | €12 | +€12 | +5568.2% |
| Financial charges | 65/66B | €135 | €182 | +€47 | +34.7% |
| Recurring financial charges | 65 | €135 | €182 | +€47 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €57,177 | €51,756 | -€5,421 | -9.5% |
| Income taxes | 67/77 | €12,737 | €11,669 | -€1,068 | -8.4% |
| Profit (loss) for the period | 9904 | €44,440 | €40,087 | -€4,353 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,440 | €40,087 | -€4,353 | -9.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.