Thin & Tall: what changed
Two fiscal 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 & Tall
Largest movements
- Receivables within one year +€277,513
up €277,513 (+106.4%), from €260,767 to €538,280
of which Trade receivables: +€147,858
- Cash +€225,177
up €225,177 (+2372.5%), from €9,491 to €234,668
mainly Net result for the year (+€457,650) and Tax, wage and social debts (+€39,505)
- Tangible fixed assets -€49,096
down €49,096 (-8.3%), from €590,963 to €541,867
of which Land and buildings: -€34,619
- Reserves +€457,650
up €457,650 (+207.4%), from €220,706 to €678,356
- Tax, wage and social debts +€39,505
up €39,505 (+103.7%), from €38,094 to €77,599
- Debts after one year -€36,463
down €36,463 (-7.6%), from €479,001 to €442,538
- Trade debts -€18,750
down €18,750 (-47.2%), from €39,689 to €20,938
- Financial income +€400,157
up €400,157 (+4940.3%), from €8,100 to €408,257
of which Non-recurring financial income: +€399,931
- Gross operating margin +€77,486
up €77,486 (+85.0%), from €91,169 to €168,655
- Taxes +€58,263
up €58,263 (+446.3%), from €13,056 to €71,319
- Depreciation -€3,997
down €3,997 (-15.8%), from €25,275 to €21,278
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 | €950,866 | €1,393,647 | +€442,781 | +46.6% |
| Fixed assets | 21/28 | €669,720 | €611,725 | -€57,995 | -8.7% |
| Tangible fixed assets | 22/27 | €590,963 | €541,867 | -€49,096 | -8.3% |
| Land and buildings | 22 | €570,439 | €535,820 | -€34,619 | -6.1% |
| Plant, machinery and equipment | 23 | €6,019 | €2,720 | -€3,298 | -54.8% |
| Furniture and vehicles | 24 | €14,009 | €3,080 | -€10,929 | -78.0% |
| Other tangible fixed assets | 26 | €496 | €247 | -€249 | -50.2% |
| Financial fixed assets | 28 | €78,757 | €69,858 | -€8,899 | -11.3% |
| Current assets | 29/58 | €281,147 | €781,923 | +€500,776 | +178.1% |
| Amounts receivable within one year | 40/41 | €260,767 | €538,280 | +€277,513 | +106.4% |
| Trade receivables | 40 | €99,185 | €247,043 | +€147,858 | +149.1% |
| Other amounts receivable | 41 | €161,582 | €291,236 | +€129,655 | +80.2% |
| Cash at bank and in hand | 54/58 | €9,491 | €234,668 | +€225,177 | +2372.5% |
| Deferred charges and accrued income | 490/1 | €10,889 | €8,975 | -€1,914 | -17.6% |
| Total equity and liabilities | 10/49 | €950,866 | €1,393,647 | +€442,781 | +46.6% |
| Equity | 10/15 | €354,498 | €812,148 | +€457,650 | +129.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €220,706 | €678,356 | +€457,650 | +207.4% |
| Distributable reserves | 133 | €220,706 | €678,356 | +€457,650 | +207.4% |
| Profit (loss) carried forward | 14 | €127,592 | €127,592 | = | 0.0% |
| Amounts payable | 17/49 | €596,368 | €581,500 | -€14,868 | -2.5% |
| Amounts payable after more than one year | 17 | €479,001 | €442,538 | -€36,463 | -7.6% |
| Financial debts | 170/4 | €479,001 | €442,538 | -€36,463 | -7.6% |
| Amounts payable within one year | 42/48 | €113,470 | €135,000 | +€21,530 | +19.0% |
| Current portion of amounts payable after more than one year | 42 | €35,687 | €36,463 | +€775 | +2.2% |
| Trade debts | 44 | €39,689 | €20,938 | -€18,750 | -47.2% |
| Suppliers | 440/4 | €39,689 | €20,938 | -€18,750 | -47.2% |
| Taxes, remuneration and social security | 45 | €38,094 | €77,599 | +€39,505 | +103.7% |
| Taxes | 450/3 | €38,094 | €77,599 | +€39,505 | +103.7% |
| Accrued charges and deferred income | 492/3 | €3,897 | €3,961 | +€64 | +1.6% |
| Non-recurring operating income | 76A | €618 | €29,100 | +€28,481 | +4606.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,275 | €21,278 | -€3,997 | -15.8% |
| Other operating charges | 640/8 | €3,222 | €3,017 | -€205 | -6.4% |
| Non-recurring operating charges | 66A | - | €8,667 | +€8,667 | |
| Gross operating margin | 9900 | €91,169 | €168,655 | +€77,486 | +85.0% |
| Operating profit (loss) | 9901 | €62,672 | €135,693 | +€73,021 | +116.5% |
| Financial income | 75/76B | €8,100 | €408,257 | +€400,157 | +4940.3% |
| Recurring financial income | 75 | €8,100 | €8,326 | +€227 | +2.8% |
| Non-recurring financial income | 76B | - | €399,931 | +€399,931 | |
| Financial charges | 65/66B | €16,351 | €14,982 | -€1,370 | -8.4% |
| Recurring financial charges | 65 | €16,351 | €14,982 | -€1,370 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €54,421 | €528,968 | +€474,548 | +872.0% |
| Income taxes | 67/77 | €13,056 | €71,319 | +€58,263 | +446.3% |
| Profit (loss) for the period | 9904 | €41,365 | €457,650 | +€416,285 | +1006.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,365 | €457,650 | +€416,285 | +1006.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.