THIMANO: 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.
THIMANO
Largest movements
- Cash -€46,387
down €46,387 (-49.0%), from €94,621 to €48,234
mainly Receivables within one year (-€45,634) and Investment in fixed assets (net) (-€8,174)
- Receivables within one year +€45,634
up €45,634 (+10.9%), from €420,252 to €465,887
of which Trade receivables: +€48,134
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€21,537
up €21,537 (+558.1%), from €3,859 to €25,395
- Taxes +€3,111
up €3,111, from €0 to €3,111
- Other operating charges +€1,227
up €1,227 (+18.0%), from €6,816 to €8,043
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 | €752,612 | €758,231 | +€5,620 | +0.7% |
| Fixed assets | 21/28 | €236,786 | €242,710 | +€5,924 | +2.5% |
| Tangible fixed assets | 22/27 | €236,786 | €242,710 | +€5,924 | +2.5% |
| Land and buildings | 22 | €236,786 | €234,607 | -€2,179 | -0.9% |
| Leasing and similar rights | 25 | - | €8,103 | +€8,103 | |
| Current assets | 29/58 | €515,826 | €515,521 | -€304 | -0.1% |
| Amounts receivable within one year | 40/41 | €420,252 | €465,887 | +€45,634 | +10.9% |
| Trade receivables | 40 | €417,752 | €465,887 | +€48,134 | +11.5% |
| Other amounts receivable | 41 | €2,500 | €0 | -€2,500 | -100.0% |
| Cash at bank and in hand | 54/58 | €94,621 | €48,234 | -€46,387 | -49.0% |
| Deferred charges and accrued income | 490/1 | €953 | €1,401 | +€449 | +47.1% |
| Total equity and liabilities | 10/49 | €752,612 | €758,231 | +€5,620 | +0.7% |
| Equity | 10/15 | €731,129 | €743,019 | +€11,890 | +1.6% |
| Contributions | 10/11 | €725,000 | €725,000 | = | 0.0% |
| Reserves | 13 | €11,391 | €18,019 | +€6,629 | +58.2% |
| Distributable reserves | 133 | €11,391 | €18,019 | +€6,629 | +58.2% |
| Profit (loss) carried forward | 14 | -€5,262 | €0 | +€5,262 | |
| Amounts payable | 17/49 | €21,483 | €15,212 | -€6,271 | -29.2% |
| Amounts payable within one year | 42/48 | €21,483 | €15,212 | -€6,271 | -29.2% |
| Trade debts | 44 | €3,703 | €3,837 | +€134 | +3.6% |
| Suppliers | 440/4 | €3,703 | €3,837 | +€134 | +3.6% |
| Taxes, remuneration and social security | 45 | €17,643 | €11,118 | -€6,525 | -37.0% |
| Taxes | 450/3 | €14,682 | €8,140 | -€6,543 | -44.6% |
| Remuneration and social security | 454/9 | €2,960 | €2,978 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €136 | €256 | +€120 | +88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,179 | €2,250 | +€72 | +3.3% |
| Other operating charges | 640/8 | €6,816 | €8,043 | +€1,227 | +18.0% |
| Gross operating margin | 9900 | €3,859 | €25,395 | +€21,537 | +558.1% |
| Operating profit (loss) | 9901 | -€5,136 | €15,102 | +€20,238 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +50.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +50.0% |
| Financial charges | 65/66B | €126 | €102 | -€25 | -19.4% |
| Recurring financial charges | 65 | €126 | €102 | -€25 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,262 | €15,001 | +€20,263 | |
| Income taxes | 67/77 | €0 | €3,111 | +€3,111 | |
| Profit (loss) for the period | 9904 | -€5,262 | €11,890 | +€17,152 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,262 | €11,890 | +€17,152 |
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 3 October 2026 via checked.be.