THINK2ACT CAPITAL: 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.
What changed
THINK2ACT CAPITAL
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €64.8m-€63.5m
Equity
€76.5m
2024 · €115.3m-€38.7m
Cash
€2,065
2024 · €2.7m-€2.7m
Balance sheet total
€87.0m
2024 · €135.4m-€48.4m
Largest movements
Assets
- Current investments -€61.5m
no longer reported in 2025 (was €61.5m)
- Financial fixed assets +€15.6m
up €15.6m (+22.4%), from €69.8m to €85.5m
of which Affiliated companies: +€25.8m
- Cash -€2.7m
down €2.7m (-99.9%), from €2.7m to €2,065
mainly Contributions, distributions and other (-€40.0m) and Other debts (-€19.9m)
Equity and liabilities
- Profit (loss) carried forward -€60.0m
down €60.0m (-97.9%), from €61.3m to €1.3m
- Reserves +€21.3m
up €21.3m (+455%), from €4.7m to €26.0m
of which Distributable reserves: +€21.3m
- Other debts -€19.9m
down €19.9m (-99.4%), from €20.0m to €122,877
- Debts after one year +€9.8m
new in 2025: €9.8m
Income statement
- Financial income -€74.1m
down €74.1m (-95.2%), from €77.8m to €3.7m
of which Non-recurring financial income: -€40.7m
- Financial charges -€10.4m
down €10.4m (-93.2%), from €11.2m to €765,701
of which Non-recurring financial charges: -€10.5m
- Turnover +€173,988
up €173,988 (+65.4%), from €266,012 to €440,000
- Other operating income -€156,872
down €156,872 (-78.4%), from €200,182 to €43,310
- Services and other goods -€137,734
down €137,734 (-6.0%), from €2.3m to €2.2m
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.
Result 2024
€64.8m
Turnover
+€173,988
Other operating income
-€156,872
Services and other goods
+€137,734
Other operating charges
-€57
Financial income
-€74.1m
Financial charges
+€10.4m
Result 2025
€1.3m
raises the resultlowers the result
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.
From operations
-€18.7m
Investment
+€45.8m
Financing
-€29.8m
Cash 2024
€2.7m
From operations (derived)
-€18.7m
Net result for the year
+€1.3m
Smaller working-capital items
-€113,098
Other debts
-€19.9m
Investment (derived)
+€45.8m
Investment in fixed assets (net)
-€15.6m
Current investments
+€61.5m
Financing
-€29.8m
Debts after one year
+€9.8m
Short-term financial debts
+€449,043
Contributions, distributions and other
-€40.0m
Cash 2025
€2,065
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,353,081 | €86,986,053 | -€48.4m | -35.7% |
| Fixed assets | 21/28 | €69,808,410 | €85,453,638 | +€15.6m | +22.4% |
| Financial fixed assets | 28 | €69,808,410 | €85,453,638 | +€15.6m | +22.4% |
| Affiliated companies | 280/1 | €35,681,620 | €61,491,335 | +€25.8m | +72.3% |
| Participating interests | 280 | €31,351,620 | €47,098,903 | +€15.7m | +50.2% |
| Amounts receivable | 281 | €4,330,000 | €14,392,432 | +€10.1m | +232% |
| Companies linked by participating interests | 282/3 | €31,612,790 | €23,962,303 | -€7.7m | -24.2% |
| Participating interests | 282 | €17,302,255 | €18,153,493 | +€851,238 | +4.9% |
| Amounts receivable | 283 | €14,310,535 | €5,808,810 | -€8.5m | -59.4% |
| Other financial fixed assets | 284/8 | €2,514,000 | - | -€2.5m | |
| Amounts receivable and cash guarantees | 285/8 | €2,514,000 | - | -€2.5m | |
| Current assets | 29/58 | €65,544,671 | €1,532,415 | -€64.0m | -97.7% |
| Amounts receivable after more than one year | 29 | €180,395 | €233,421 | +€53,026 | +29.4% |
| Other amounts receivable | 291 | €180,395 | €233,421 | +€53,026 | +29.4% |
| Amounts receivable within one year | 40/41 | €1,087,031 | €1,031,570 | -€55,462 | -5.1% |
| Trade receivables | 40 | €19,673 | €190,034 | +€170,361 | +866% |
| Other amounts receivable | 41 | €1,067,358 | €841,536 | -€225,822 | -21.2% |
| Current investments | 50/53 | €61,450,000 | - | -€61.5m | |
| Other investments | 51/53 | €61,450,000 | - | -€61.5m | |
| Cash at bank and in hand | 54/58 | €2,703,645 | €2,065 | -€2.7m | -99.9% |
| Deferred charges and accrued income | 490/1 | €123,600 | €265,360 | +€141,760 | +115% |
| Total equity and liabilities | 10/49 | €135,353,081 | €86,986,053 | -€48.4m | -35.7% |
| Equity | 10/15 | €115,261,168 | €76,545,994 | -€38.7m | -33.6% |
| Contributions | 10/11 | €49,297,913 | €49,297,913 | = | 0.0% |
| Capital | 10 | €31,340,924 | €31,340,924 | = | 0.0% |
| Issued capital | 100 | €46,777,498 | €46,777,498 | = | 0.0% |
| Uncalled capital | 101 | €15,436,574 | €15,436,574 | = | 0.0% |
| Contributions outside capital | 11 | €17,956,990 | €17,956,990 | = | 0.0% |
| Share premium | 1100/10 | €17,956,990 | €17,956,990 | = | 0.0% |
| Reserves | 13 | €4,677,750 | €25,963,255 | +€21.3m | +455% |
| Non-distributable reserves | 130/1 | €4,677,750 | €4,677,750 | = | 0.0% |
| Legal reserve | 130 | €4,677,750 | €4,677,750 | = | 0.0% |
| Distributable reserves | 133 | - | €21,285,505 | +€21.3m | |
| Profit (loss) carried forward | 14 | €61,285,505 | €1,284,826 | -€60.0m | -97.9% |
| Amounts payable | 17/49 | €20,091,912 | €10,440,059 | -€9.7m | -48.0% |
| Amounts payable after more than one year | 17 | - | €9,750,000 | +€9.8m | |
| Financial debts | 170/4 | - | €9,750,000 | +€9.8m | |
| Other loans | 174 | - | €9,750,000 | +€9.8m | |
| Amounts payable within one year | 42/48 | €20,055,577 | €689,867 | -€19.4m | -96.6% |
| Financial debts | 43 | - | €449,043 | +€449,043 | |
| Credit institutions | 430/8 | - | €449,043 | +€449,043 | |
| Trade debts | 44 | €55,577 | €117,948 | +€62,370 | +112% |
| Suppliers | 440/4 | €55,577 | €117,948 | +€62,370 | +112% |
| Other amounts payable | 47/48 | €20,000,000 | €122,877 | -€19.9m | -99.4% |
| Accrued charges and deferred income | 492/3 | €36,335 | €192 | -€36,143 | -99.5% |
| Operating income | 70/76A | €466,194 | €483,310 | +€17,116 | +3.7% |
| Turnover | 70 | €266,012 | €440,000 | +€173,988 | +65.4% |
| Other operating income | 74 | €200,182 | €43,310 | -€156,872 | -78.4% |
| Operating charges | 60/66A | €2,291,487 | €2,153,810 | -€137,677 | -6.0% |
| Services and other goods | 61 | €2,290,401 | €2,152,667 | -€137,734 | -6.0% |
| Other operating charges | 640/8 | €1,086 | €1,143 | +€57 | +5.3% |
| Operating profit (loss) | 9901 | -€1,825,293 | -€1,670,500 | +€154,793 | +8.5% |
| Financial income | 75/76B | €77,812,953 | €3,721,026 | -€74.1m | -95.2% |
| Recurring financial income | 75 | €36,966,027 | €3,601,147 | -€33.4m | -90.3% |
| Income from financial fixed assets | 750 | €35,935,737 | €2,658,401 | -€33.3m | -92.6% |
| Income from current assets | 751 | €1,030,290 | €942,747 | -€87,544 | -8.5% |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €40,846,926 | €119,879 | -€40.7m | -99.7% |
| Financial charges | 65/66B | €11,200,184 | €765,701 | -€10.4m | -93.2% |
| Recurring financial charges | 65 | €120,895 | €180,701 | +€59,806 | +49.5% |
| Debt charges | 650 | - | €128,212 | +€128,212 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €4,525 | - | -€4,525 | |
| Other financial charges | 652/9 | €116,370 | €52,489 | -€63,881 | -54.9% |
| Non-recurring financial charges | 66B | €11,079,289 | €585,000 | -€10.5m | -94.7% |
| Profit (loss) for the period before taxes | 9903 | €64,787,477 | €1,284,826 | -€63.5m | -98.0% |
| Profit (loss) for the period | 9904 | €64,787,477 | €1,284,826 | -€63.5m | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,787,477 | €1,284,826 | -€63.5m | -98.0% |
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 14 October 2026 via checked.be.