THINCO: 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.
THINCO
Largest movements
- Stocks and contracts +€195,794
up €195,794 (+20.6%), from €951,571 to €1.1m
- Cash -€82,138
down €82,138 (-38.7%), from €212,445 to €130,307
mainly Other debts (-€202,510) and Stocks and contracts (-€195,794)
- Reserves +€235,700
up €235,700 (+34.5%), from €683,378 to €919,079
of which Distributable reserves: +€235,700
- Other debts -€202,510
down €202,510 (-48.5%), from €417,815 to €215,305
- Short-term financial debts +€132,247
up €132,247 (+780.2%), from €16,950 to €149,197
- Tax, wage and social debts -€21,920
down €21,920 (-34.4%), from €63,761 to €41,841
of which Taxes: -€18,689
- Debts after one year -€21,079
down €21,079 (-76.9%), from €27,417 to €6,337
- Gross operating margin -€82,848
down €82,848 (-16.8%), from €493,620 to €410,771
- Taxes -€33,937
down €33,937 (-24.5%), from €138,518 to €104,582
- Write-downs +€6,432
new in 2025: €6,432
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 | €1,280,868 | €1,384,369 | +€103,501 | +8.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €63,403 | €51,942 | -€11,461 | -18.1% |
| Tangible fixed assets | 22/27 | €63,403 | €51,942 | -€11,461 | -18.1% |
| Plant, machinery and equipment | 23 | €12,968 | €13,247 | +€279 | +2.2% |
| Furniture and vehicles | 24 | €50,435 | €38,695 | -€11,740 | -23.3% |
| Current assets | 29/58 | €1,217,465 | €1,332,428 | +€114,963 | +9.4% |
| Stocks and contracts in progress | 3 | €951,571 | €1,147,365 | +€195,794 | +20.6% |
| Stocks | 30/36 | €951,571 | €1,147,365 | +€195,794 | +20.6% |
| Amounts receivable within one year | 40/41 | €51,166 | €52,365 | +€1,199 | +2.3% |
| Trade receivables | 40 | €47,005 | €45,416 | -€1,589 | -3.4% |
| Other amounts receivable | 41 | €4,161 | €6,949 | +€2,788 | +67.0% |
| Cash at bank and in hand | 54/58 | €212,445 | €130,307 | -€82,138 | -38.7% |
| Deferred charges and accrued income | 490/1 | €2,283 | €2,391 | +€108 | +4.7% |
| Total equity and liabilities | 10/49 | €1,280,868 | €1,384,369 | +€103,501 | +8.1% |
| Equity | 10/15 | €703,838 | €939,539 | +€235,700 | +33.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €683,378 | €919,079 | +€235,700 | +34.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €683,378 | €919,079 | +€235,700 | +34.5% |
| Amounts payable | 17/49 | €577,030 | €444,831 | -€132,199 | -22.9% |
| Amounts payable after more than one year | 17 | €27,417 | €6,337 | -€21,079 | -76.9% |
| Financial debts | 170/4 | €27,417 | €6,337 | -€21,079 | -76.9% |
| Amounts payable within one year | 42/48 | €546,088 | €438,493 | -€107,595 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €35,331 | €21,079 | -€14,252 | -40.3% |
| Financial debts | 43 | €16,950 | €149,197 | +€132,247 | +780.2% |
| Credit institutions | 430/8 | €16,950 | €149,197 | +€132,247 | +780.2% |
| Trade debts | 44 | €7,520 | €9,572 | +€2,051 | +27.3% |
| Suppliers | 440/4 | €7,520 | €9,572 | +€2,051 | +27.3% |
| Advances received on contracts in progress | 46 | €4,711 | €1,500 | -€3,211 | -68.2% |
| Taxes, remuneration and social security | 45 | €63,761 | €41,841 | -€21,920 | -34.4% |
| Taxes | 450/3 | €54,206 | €35,518 | -€18,689 | -34.5% |
| Remuneration and social security | 454/9 | €9,554 | €6,323 | -€3,231 | -33.8% |
| Other amounts payable | 47/48 | €417,815 | €215,305 | -€202,510 | -48.5% |
| Accrued charges and deferred income | 492/3 | €3,525 | €0 | -€3,525 | -100.0% |
| Remuneration, social security and pensions | 62 | €44,383 | €46,299 | +€1,916 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,816 | €16,766 | +€3,950 | +30.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,432 | +€6,432 | |
| Other operating charges | 640/8 | €673 | €494 | -€180 | -26.7% |
| Gross operating margin | 9900 | €493,620 | €410,771 | -€82,848 | -16.8% |
| Operating profit (loss) | 9901 | €435,747 | €340,780 | -€94,967 | -21.8% |
| Financial income | 75/76B | €1,408 | €6,176 | +€4,768 | +338.8% |
| Recurring financial income | 75 | €1,408 | €246 | -€1,162 | -82.5% |
| Non-recurring financial income | 76B | - | €5,930 | +€5,930 | |
| Financial charges | 65/66B | €7,049 | €6,674 | -€375 | -5.3% |
| Recurring financial charges | 65 | €7,049 | €6,674 | -€375 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €430,106 | €340,282 | -€89,823 | -20.9% |
| Income taxes | 67/77 | €138,518 | €104,582 | -€33,937 | -24.5% |
| Profit (loss) for the period | 9904 | €291,587 | €235,700 | -€55,887 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €291,587 | €235,700 | -€55,887 | -19.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.