THIMCO: 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.
THIMCO
Largest movements
- Tangible fixed assets +€175,725
up €175,725 (+39.6%), from €443,787 to €619,512
of which Land and buildings: +€183,965
- Cash -€99,149
down €99,149 (-64.9%), from €152,769 to €53,620
mainly Investment in fixed assets (net) (-€191,545) and Tax, wage and social debts (-€15,617)
- Reserves +€95,000
up €95,000 (+18.8%), from €505,860 to €600,860
- Tax, wage and social debts -€15,617
down €15,617 (-50.3%), from €31,019 to €15,401
of which Taxes: -€15,617
- Gross operating margin -€14,062
down €14,062 (-8.8%), from €160,440 to €146,377
- Financial income +€3,919
up €3,919 (+132%), from €2,971 to €6,889
- Depreciation -€3,592
down €3,592 (-18.5%), from €19,411 to €15,820
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 | €939,312 | €1,027,165 | +€87,853 | +9.4% |
| Fixed assets | 21/28 | €443,787 | €619,512 | +€175,725 | +39.6% |
| Tangible fixed assets | 22/27 | €443,787 | €619,512 | +€175,725 | +39.6% |
| Land and buildings | 22 | €406,199 | €590,164 | +€183,965 | +45.3% |
| Furniture and vehicles | 24 | €37,588 | €29,348 | -€8,240 | -21.9% |
| Current assets | 29/58 | €495,525 | €407,653 | -€87,872 | -17.7% |
| Stocks and contracts in progress | 3 | €10,345 | €10,345 | = | 0.0% |
| Stocks | 30/36 | €10,345 | €10,345 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €26,515 | €28,557 | +€2,042 | +7.7% |
| Trade receivables | 40 | €26,510 | €28,083 | +€1,573 | +5.9% |
| Other amounts receivable | 41 | €5 | €474 | +€469 | +9,675% |
| Current investments | 50/53 | €300,000 | €310,021 | +€10,021 | +3.3% |
| Cash at bank and in hand | 54/58 | €152,769 | €53,620 | -€99,149 | -64.9% |
| Deferred charges and accrued income | 490/1 | €5,896 | €5,109 | -€786 | -13.3% |
| Total equity and liabilities | 10/49 | €939,312 | €1,027,165 | +€87,853 | +9.4% |
| Equity | 10/15 | €849,441 | €945,266 | +€95,825 | +11.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €505,860 | €600,860 | +€95,000 | +18.8% |
| Distributable reserves | 133 | €505,860 | €600,860 | +€95,000 | +18.8% |
| Profit (loss) carried forward | 14 | €324,981 | €325,806 | +€825 | +0.3% |
| Amounts payable | 17/49 | €89,871 | €81,900 | -€7,971 | -8.9% |
| Amounts payable after more than one year | 17 | €21,000 | €21,000 | = | 0.0% |
| Financial debts | 170/4 | €21,000 | €21,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €68,871 | €60,900 | -€7,971 | -11.6% |
| Trade debts | 44 | €16,918 | €22,884 | +€5,967 | +35.3% |
| Suppliers | 440/4 | €16,918 | €22,884 | +€5,967 | +35.3% |
| Taxes, remuneration and social security | 45 | €31,019 | €15,401 | -€15,617 | -50.3% |
| Taxes | 450/3 | €28,519 | €12,901 | -€15,617 | -54.8% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €20,935 | €22,614 | +€1,679 | +8.0% |
| Non-recurring operating income | 76A | €11,500 | - | -€11,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,411 | €15,820 | -€3,592 | -18.5% |
| Other operating charges | 640/8 | €3,007 | €2,003 | -€1,004 | -33.4% |
| Gross operating margin | 9900 | €160,440 | €146,377 | -€14,062 | -8.8% |
| Operating profit (loss) | 9901 | €138,021 | €128,555 | -€9,466 | -6.9% |
| Financial income | 75/76B | €2,971 | €6,889 | +€3,919 | +132% |
| Recurring financial income | 75 | €2,971 | €6,889 | +€3,919 | +132% |
| Financial charges | 65/66B | €91 | €89 | -€3 | -3.0% |
| Recurring financial charges | 65 | €91 | €89 | -€3 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €140,900 | €135,356 | -€5,545 | -3.9% |
| Income taxes | 67/77 | €40,892 | €39,531 | -€1,362 | -3.3% |
| Profit (loss) for the period | 9904 | €100,008 | €95,825 | -€4,183 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €100,008 | €95,825 | -€4,183 | -4.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.