THIMATVER: what changed
THIMATVER
Largest movements
- Tangible fixed assets -€759,204
down €759,204 (-25.1%), from €3.0m to €2.3m
of which Land and buildings: -€748,937
- Cash +€595,254
up €595,254 (+226%), from €263,281 to €858,535
mainly Investment in fixed assets (net) (+€1.1m) and Depreciation (+€158,943)
- Financial fixed assets -€381,577
down €381,577 (-54.3%), from €702,905 to €321,328
- Receivables within one year +€347,956
up €347,956 (+71.4%), from €487,325 to €835,280
of which Other amounts receivable: +€320,297
- Receivables after one year +€330,680
up €330,680 (+59.8%), from €553,000 to €883,680
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€145,629
up €145,629 (+118%), from €123,075 to €268,704
- Financial charges +€64,826
up €64,826 (+37,954%), from €171 to €64,997
of which Non-recurring financial charges: +€64,827
- Depreciation -€23,393
down €23,393 (-12.8%), from €182,336 to €158,943
- Financial income +€6,248
up €6,248 (+80.5%), from €7,758 to €14,006
- Taxes +€4,534
up €4,534 (+686%), from €661 to €5,195
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,069,621 | €6,125,056 | +€55,436 | +0.9% |
| Fixed assets | 21/28 | €3,809,662 | €2,591,480 | -€1.2m | -32.0% |
| Intangible fixed assets | 21 | €77,401 | €0 | -€77,401 | -100% |
| Tangible fixed assets | 22/27 | €3,029,355 | €2,270,152 | -€759,204 | -25.1% |
| Land and buildings | 22 | €3,007,044 | €2,258,108 | -€748,937 | -24.9% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €10,185 | €1,348 | -€8,837 | -86.8% |
| Other tangible fixed assets | 26 | €12,126 | €10,696 | -€1,430 | -11.8% |
| Financial fixed assets | 28 | €702,905 | €321,328 | -€381,577 | -54.3% |
| Current assets | 29/58 | €2,259,959 | €3,533,577 | +€1.3m | +56.4% |
| Amounts receivable after more than one year | 29 | €553,000 | €883,680 | +€330,680 | +59.8% |
| Other amounts receivable | 291 | €553,000 | €883,680 | +€330,680 | +59.8% |
| Amounts receivable within one year | 40/41 | €487,325 | €835,280 | +€347,956 | +71.4% |
| Trade receivables | 40 | €52,293 | €79,952 | +€27,659 | +52.9% |
| Other amounts receivable | 41 | €435,031 | €755,328 | +€320,297 | +73.6% |
| Current investments | 50/53 | €949,500 | €943,124 | -€6,376 | -0.7% |
| Cash at bank and in hand | 54/58 | €263,281 | €858,535 | +€595,254 | +226% |
| Deferred charges and accrued income | 490/1 | €6,854 | €12,958 | +€6,104 | +89.1% |
| Total equity and liabilities | 10/49 | €6,069,621 | €6,125,056 | +€55,436 | +0.9% |
| Equity | 10/15 | €5,359,545 | €5,402,947 | +€43,403 | +0.8% |
| Contributions | 10/11 | €836,400 | €836,400 | = | 0.0% |
| Reserves | 13 | €4,523,145 | €4,566,547 | +€43,403 | +1.0% |
| Tax-exempt reserves | 132 | €2,497 | €2,063 | -€434 | -17.4% |
| Distributable reserves | 133 | €4,520,647 | €4,564,484 | +€43,837 | +1.0% |
| Amounts payable | 17/49 | €710,076 | €722,109 | +€12,033 | +1.7% |
| Amounts payable within one year | 42/48 | €709,476 | €720,940 | +€11,464 | +1.6% |
| Trade debts | 44 | €2,742 | €41,571 | +€38,829 | +1,416% |
| Suppliers | 440/4 | €2,742 | €41,571 | +€38,829 | +1,416% |
| Taxes, remuneration and social security | 45 | €1,907 | €6,999 | +€5,093 | +267% |
| Taxes | 450/3 | €1,757 | €6,849 | +€5,093 | +290% |
| Remuneration and social security | 454/9 | €150 | €150 | = | 0.0% |
| Other amounts payable | 47/48 | €704,828 | €672,370 | -€32,458 | -4.6% |
| Accrued charges and deferred income | 492/3 | €600 | €1,169 | +€569 | +94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,336 | €158,943 | -€23,393 | -12.8% |
| Other operating charges | 640/8 | €11,357 | €10,172 | -€1,184 | -10.4% |
| Gross operating margin | 9900 | €123,075 | €268,704 | +€145,629 | +118% |
| Operating profit (loss) | 9901 | -€70,617 | €99,589 | +€170,206 | |
| Financial income | 75/76B | €7,758 | €14,006 | +€6,248 | +80.5% |
| Recurring financial income | 75 | €7,758 | €14,006 | +€6,248 | +80.5% |
| Financial charges | 65/66B | €171 | €64,997 | +€64,826 | +37,954% |
| Recurring financial charges | 65 | €171 | €170 | -€1 | -0.6% |
| Non-recurring financial charges | 66B | - | €64,827 | +€64,827 | |
| Profit (loss) for the period before taxes | 9903 | -€63,030 | €48,598 | +€111,628 | |
| Income taxes | 67/77 | €661 | €5,195 | +€4,534 | +686% |
| Profit (loss) for the period | 9904 | -€63,691 | €43,403 | +€107,094 | |
| Transfer from tax-exempt reserves | 789 | €434 | €434 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€63,257 | €43,837 | +€107,094 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.