Thin Ice Inc.: 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.
Thin Ice Inc.
Largest movements
- Tangible fixed assets -€18,208
down €18,208 (-31.3%), from €58,159 to €39,951
of which Furniture and vehicles: -€9,608
- Current investments -€17,403
down €17,403 (-42.4%), from €41,000 to €23,597
- Receivables within one year +€7,077
up €7,077 (+65.1%), from €10,877 to €17,954
of which Other amounts receivable: +€8,132
- Cash -€6,050
down €6,050 (-67.0%), from €9,026 to €2,976
mainly Trade debts (-€20,118) and Other debts (-€16,122)
- Trade debts -€20,118
down €20,118 (-84.0%), from €23,936 to €3,819
- Other debts -€16,122
down €16,122 (-51.2%), from €31,515 to €15,393
- Profit (loss) carried forward +€9,623
up €9,623 (+36.7%), from €26,186 to €35,809
- Debts after one year -€7,851
down €7,851 (-38.7%), from €20,281 to €12,431
- Gross operating margin -€15,792
down €15,792 (-31.4%), from €50,354 to €34,562
- Depreciation +€6,946
up €6,946 (+54.0%), from €12,861 to €19,807
- Taxes -€6,397
down €6,397 (-64.0%), from €9,992 to €3,595
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 | €120,180 | €86,171 | -€34,010 | -28.3% |
| Fixed assets | 21/28 | €58,159 | €39,951 | -€18,208 | -31.3% |
| Tangible fixed assets | 22/27 | €58,159 | €39,951 | -€18,208 | -31.3% |
| Plant, machinery and equipment | 23 | €20,228 | €11,628 | -€8,600 | -42.5% |
| Furniture and vehicles | 24 | €37,931 | €28,323 | -€9,608 | -25.3% |
| Current assets | 29/58 | €62,021 | €46,220 | -€15,801 | -25.5% |
| Amounts receivable within one year | 40/41 | €10,877 | €17,954 | +€7,077 | +65.1% |
| Trade receivables | 40 | €10,054 | €8,999 | -€1,055 | -10.5% |
| Other amounts receivable | 41 | €823 | €8,955 | +€8,132 | +988% |
| Current investments | 50/53 | €41,000 | €23,597 | -€17,403 | -42.4% |
| Cash at bank and in hand | 54/58 | €9,026 | €2,976 | -€6,050 | -67.0% |
| Deferred charges and accrued income | 490/1 | €1,118 | €1,693 | +€575 | +51.4% |
| Total equity and liabilities | 10/49 | €120,180 | €86,171 | -€34,010 | -28.3% |
| Equity | 10/15 | €27,186 | €36,809 | +€9,623 | +35.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,186 | €35,809 | +€9,623 | +36.7% |
| Amounts payable | 17/49 | €92,994 | €49,362 | -€43,632 | -46.9% |
| Amounts payable after more than one year | 17 | €20,281 | €12,431 | -€7,851 | -38.7% |
| Financial debts | 170/4 | €20,281 | €12,431 | -€7,851 | -38.7% |
| Amounts payable within one year | 42/48 | €72,713 | €36,931 | -€35,782 | -49.2% |
| Current portion of amounts payable after more than one year | 42 | €7,518 | €7,851 | +€332 | +4.4% |
| Financial debts | 43 | €81 | - | -€81 | |
| Credit institutions | 430/8 | €81 | - | -€81 | |
| Trade debts | 44 | €23,936 | €3,819 | -€20,118 | -84.0% |
| Suppliers | 440/4 | €23,936 | €3,819 | -€20,118 | -84.0% |
| Taxes, remuneration and social security | 45 | €9,662 | €9,869 | +€207 | +2.1% |
| Taxes | 450/3 | €9,662 | €5,192 | -€4,470 | -46.3% |
| Remuneration and social security | 454/9 | - | €4,677 | +€4,677 | |
| Other amounts payable | 47/48 | €31,515 | €15,393 | -€16,122 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,861 | €19,807 | +€6,946 | +54.0% |
| Other operating charges | 640/8 | €514 | €617 | +€103 | +20.1% |
| Gross operating margin | 9900 | €50,354 | €34,562 | -€15,792 | -31.4% |
| Operating profit (loss) | 9901 | €36,980 | €14,138 | -€22,841 | -61.8% |
| Financial income | 75/76B | €304 | €307 | +€3 | +1.1% |
| Recurring financial income | 75 | €304 | €307 | +€3 | +1.1% |
| Financial charges | 65/66B | €1,105 | €1,228 | +€123 | +11.1% |
| Recurring financial charges | 65 | €1,105 | €1,228 | +€123 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €36,178 | €13,217 | -€22,961 | -63.5% |
| Income taxes | 67/77 | €9,992 | €3,595 | -€6,397 | -64.0% |
| Profit (loss) for the period | 9904 | €26,186 | €9,623 | -€16,564 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,186 | €9,623 | -€16,564 | -63.3% |
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 13 October 2026 via checked.be.