THIMATI: 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.
THIMATI
Largest movements
- Tangible fixed assets -€49,108
down €49,108 (-7.1%), from €695,169 to €646,061
of which Land and buildings: -€47,038
- Cash +€13,028
up €13,028 (+65.7%), from €19,840 to €32,868
mainly Depreciation (+€49,108) and Net result for the year (+€31,323)
- Debts after one year -€61,400
down €61,400 (-14.6%), from €421,233 to €359,833
- Profit (loss) carried forward +€16,323
up €16,323 (+8.9%), from €184,131 to €200,454
- Gross operating margin +€15,984
up €15,984 (+15.5%), from €102,869 to €118,853
- Taxes +€4,382
up €4,382 (+72.3%), from €6,059 to €10,441
- Financial charges -€2,604
down €2,604 (-12.3%), from €21,227 to €18,622
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 | €715,009 | €679,138 | -€35,871 | -5.0% |
| Fixed assets | 21/28 | €695,169 | €646,061 | -€49,108 | -7.1% |
| Tangible fixed assets | 22/27 | €695,169 | €646,061 | -€49,108 | -7.1% |
| Land and buildings | 22 | €686,888 | €639,850 | -€47,038 | -6.8% |
| Plant, machinery and equipment | 23 | €8,281 | €6,210 | -€2,070 | -25.0% |
| Current assets | 29/58 | €19,840 | €33,078 | +€13,238 | +66.7% |
| Amounts receivable within one year | 40/41 | €0 | €209 | +€209 | |
| Trade receivables | 40 | €0 | €187 | +€187 | |
| Other amounts receivable | 41 | - | €22 | +€22 | |
| Cash at bank and in hand | 54/58 | €19,840 | €32,868 | +€13,028 | +65.7% |
| Total equity and liabilities | 10/49 | €715,009 | €679,138 | -€35,871 | -5.0% |
| Equity | 10/15 | €209,131 | €225,454 | +€16,323 | +7.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €184,131 | €200,454 | +€16,323 | +8.9% |
| Amounts payable | 17/49 | €505,878 | €453,684 | -€52,194 | -10.3% |
| Amounts payable after more than one year | 17 | €421,233 | €359,833 | -€61,400 | -14.6% |
| Financial debts | 170/4 | €421,233 | €359,833 | -€61,400 | -14.6% |
| Amounts payable within one year | 42/48 | €84,644 | €93,851 | +€9,206 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €61,400 | €61,400 | = | 0.0% |
| Financial debts | 43 | €2,028 | €2,355 | +€327 | +16.1% |
| Credit institutions | 430/8 | €2,028 | €2,355 | +€327 | +16.1% |
| Trade debts | 44 | €9,094 | €8,660 | -€434 | -4.8% |
| Suppliers | 440/4 | €9,094 | €8,660 | -€434 | -4.8% |
| Taxes, remuneration and social security | 45 | €2,122 | €6,436 | +€4,314 | +203% |
| Taxes | 450/3 | €2,122 | €6,436 | +€4,314 | +203% |
| Other amounts payable | 47/48 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,283 | €49,108 | +€825 | +1.7% |
| Other operating charges | 640/8 | €9,121 | €9,358 | +€237 | +2.6% |
| Gross operating margin | 9900 | €102,869 | €118,853 | +€15,984 | +15.5% |
| Operating profit (loss) | 9901 | €45,465 | €60,387 | +€14,922 | +32.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €21,227 | €18,622 | -€2,604 | -12.3% |
| Recurring financial charges | 65 | €21,227 | €18,622 | -€2,604 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €24,238 | €41,764 | +€17,526 | +72.3% |
| Income taxes | 67/77 | €6,059 | €10,441 | +€4,382 | +72.3% |
| Profit (loss) for the period | 9904 | €18,178 | €31,323 | +€13,145 | +72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,178 | €31,323 | +€13,145 | +72.3% |
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 31 October 2026 via checked.be.