THIMANA: 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.
THIMANA
Largest movements
- Financial fixed assets -€678,808
down €678,808 (-64.3%), from €1.1m to €377,489
- Cash +€476,786
up €476,786 (+283.6%), from €168,119 to €644,905
mainly Investment in fixed assets (net) (+€676,833) and Other debts (+€304,338)
- Tangible fixed assets -€24,510
down €24,510 (-6.5%), from €376,995 to €352,485
of which Leasing and similar rights: -€14,676
- Current investments +€21,555
up €21,555 (+5.8%), from €372,797 to €394,352
- Profit (loss) carried forward -€459,632
down €459,632 (-39.4%), from €1.2m to €707,272
- Other debts +€304,338
up €304,338 (+49927.5%), from €610 to €304,947
- Tax, wage and social debts -€28,918
down €28,918 (-50.0%), from €57,827 to €28,910
- Debts after one year -€24,614
down €24,614 (-9.2%), from €268,405 to €243,791
- Taxes -€14,743
down €14,743 (-63.7%), from €23,138 to €8,395
- Financial income -€12,732
down €12,732 (-21.3%), from €59,904 to €47,172
- Depreciation +€5,829
up €5,829 (+28.2%), from €20,655 to €26,485
- Gross operating margin -€1,900
down €1,900 (-3.2%), from €60,041 to €58,141
- Other operating charges +€1,863
up €1,863 (+39.9%), from €4,674 to €6,538
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 | €2,002,446 | €1,779,149 | -€223,298 | -11.2% |
| Fixed assets | 21/28 | €1,433,292 | €729,974 | -€703,318 | -49.1% |
| Tangible fixed assets | 22/27 | €376,995 | €352,485 | -€24,510 | -6.5% |
| Land and buildings | 22 | €310,908 | €299,824 | -€11,084 | -3.6% |
| Furniture and vehicles | 24 | €1,089 | €2,339 | +€1,250 | +114.7% |
| Leasing and similar rights | 25 | €64,998 | €50,322 | -€14,676 | -22.6% |
| Financial fixed assets | 28 | €1,056,297 | €377,489 | -€678,808 | -64.3% |
| Current assets | 29/58 | €569,155 | €1,049,175 | +€480,020 | +84.3% |
| Amounts receivable within one year | 40/41 | €27,258 | €8,876 | -€18,381 | -67.4% |
| Trade receivables | 40 | €22,396 | €25 | -€22,371 | -99.9% |
| Other amounts receivable | 41 | €4,862 | €8,852 | +€3,990 | +82.1% |
| Current investments | 50/53 | €372,797 | €394,352 | +€21,555 | +5.8% |
| Cash at bank and in hand | 54/58 | €168,119 | €644,905 | +€476,786 | +283.6% |
| Deferred charges and accrued income | 490/1 | €982 | €1,042 | +€60 | +6.1% |
| Total equity and liabilities | 10/49 | €2,002,446 | €1,779,149 | -€223,298 | -11.2% |
| Equity | 10/15 | €1,629,864 | €1,170,232 | -€459,632 | -28.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €444,360 | €444,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €442,500 | €442,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,166,904 | €707,272 | -€459,632 | -39.4% |
| Amounts payable | 17/49 | €372,583 | €608,917 | +€236,334 | +63.4% |
| Amounts payable after more than one year | 17 | €268,405 | €243,791 | -€24,614 | -9.2% |
| Financial debts | 170/4 | €268,405 | €243,791 | -€24,614 | -9.2% |
| Amounts payable within one year | 42/48 | €104,178 | €365,125 | +€260,948 | +250.5% |
| Current portion of amounts payable after more than one year | 42 | €23,743 | €24,614 | +€870 | +3.7% |
| Trade debts | 44 | €21,998 | €6,655 | -€15,343 | -69.7% |
| Suppliers | 440/4 | €21,998 | €6,655 | -€15,343 | -69.7% |
| Taxes, remuneration and social security | 45 | €57,827 | €28,910 | -€28,918 | -50.0% |
| Taxes | 450/3 | €57,827 | €28,910 | -€28,918 | -50.0% |
| Other amounts payable | 47/48 | €610 | €304,947 | +€304,338 | +49927.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,655 | €26,485 | +€5,829 | +28.2% |
| Other operating charges | 640/8 | €4,674 | €6,538 | +€1,863 | +39.9% |
| Gross operating margin | 9900 | €60,041 | €58,141 | -€1,900 | -3.2% |
| Operating profit (loss) | 9901 | €34,711 | €25,119 | -€9,592 | -27.6% |
| Financial income | 75/76B | €59,904 | €47,172 | -€12,732 | -21.3% |
| Recurring financial income | 75 | €59,904 | €47,172 | -€12,732 | -21.3% |
| Financial charges | 65/66B | €13,413 | €11,763 | -€1,650 | -12.3% |
| Recurring financial charges | 65 | €13,413 | €11,763 | -€1,650 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €81,203 | €60,528 | -€20,674 | -25.5% |
| Income taxes | 67/77 | €23,138 | €8,395 | -€14,743 | -63.7% |
| Profit (loss) for the period | 9904 | €58,064 | €52,133 | -€5,931 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,064 | €52,133 | -€5,931 | -10.2% |
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 4 October 2026 via checked.be.