Thimawo: 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.
Thimawo
Largest movements
- Receivables within one year -€19,024
down €19,024 (-98.3%), from €19,360 to €336
of which Trade receivables: -€19,360
- Cash -€14,055
down €14,055 (-5.5%), from €256,625 to €242,570
mainly Tax, wage and social debts (-€46,903)
- Tangible fixed assets -€5,314
down €5,314 (-39.0%), from €13,611 to €8,298
- Tax, wage and social debts -€46,903
down €46,903 (-62.5%), from €75,053 to €28,150
- Reserves +€5,560
up €5,560 (+2.5%), from €221,521 to €227,081
- Gross operating margin -€110,124
down €110,124 (-89.2%), from €123,415 to €13,291
- Taxes -€22,070
down €22,070 (-86.9%), from €25,398 to €3,327
- Financial income +€1,704
up €1,704 (+3765.0%), from €45 to €1,749
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 | €332,074 | €292,747 | -€39,328 | -11.8% |
| Fixed assets | 21/28 | €13,611 | €8,298 | -€5,314 | -39.0% |
| Tangible fixed assets | 22/27 | €13,611 | €8,298 | -€5,314 | -39.0% |
| Furniture and vehicles | 24 | €13,611 | €8,298 | -€5,314 | -39.0% |
| Current assets | 29/58 | €318,463 | €284,449 | -€34,014 | -10.7% |
| Amounts receivable within one year | 40/41 | €19,360 | €336 | -€19,024 | -98.3% |
| Trade receivables | 40 | €19,360 | €0 | -€19,360 | -100.0% |
| Other amounts receivable | 41 | - | €336 | +€336 | |
| Current investments | 50/53 | €40,508 | €40,508 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €256,625 | €242,570 | -€14,055 | -5.5% |
| Deferred charges and accrued income | 490/1 | €1,970 | €1,035 | -€934 | -47.4% |
| Total equity and liabilities | 10/49 | €332,074 | €292,747 | -€39,328 | -11.8% |
| Equity | 10/15 | €226,521 | €232,081 | +€5,560 | +2.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €221,521 | €227,081 | +€5,560 | +2.5% |
| Distributable reserves | 133 | €221,521 | €227,081 | +€5,560 | +2.5% |
| Amounts payable | 17/49 | €105,553 | €60,665 | -€44,888 | -42.5% |
| Amounts payable within one year | 42/48 | €105,553 | €60,665 | -€44,888 | -42.5% |
| Trade debts | 44 | €77 | €657 | +€581 | +757.8% |
| Suppliers | 440/4 | €77 | €657 | +€581 | +757.8% |
| Taxes, remuneration and social security | 45 | €75,053 | €28,150 | -€46,903 | -62.5% |
| Taxes | 450/3 | €75,053 | €28,150 | -€46,903 | -62.5% |
| Other amounts payable | 47/48 | €30,423 | €31,858 | +€1,435 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,543 | €5,314 | -€229 | -4.1% |
| Other operating charges | 640/8 | €570 | €783 | +€213 | +37.4% |
| Gross operating margin | 9900 | €123,415 | €13,291 | -€110,124 | -89.2% |
| Operating profit (loss) | 9901 | €117,301 | €7,194 | -€110,107 | -93.9% |
| Financial income | 75/76B | €45 | €1,749 | +€1,704 | +3765.0% |
| Recurring financial income | 75 | €45 | €1,749 | +€1,704 | +3765.0% |
| Financial charges | 65/66B | €229 | €55 | -€174 | -75.8% |
| Recurring financial charges | 65 | €229 | €55 | -€174 | -75.8% |
| Profit (loss) for the period before taxes | 9903 | €117,117 | €8,887 | -€108,230 | -92.4% |
| Income taxes | 67/77 | €25,398 | €3,327 | -€22,070 | -86.9% |
| Profit (loss) for the period | 9904 | €91,720 | €5,560 | -€86,160 | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €91,720 | €5,560 | -€86,160 | -93.9% |
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 10 October 2026 via checked.be.