THINKANDO: 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.
THINKANDO
Largest movements
- Financial fixed assets -€600,000
down €600,000 (-75.9%), from €790,045 to €190,045
- Cash -€42,299
down €42,299 (-85.4%), from €49,521 to €7,221
mainly Net result for the year (-€558,032) and Current portion of long-term debt (-€122,155)
- Tangible fixed assets +€11,153
up €11,153 (+299.7%), from €3,721 to €14,873
- Profit (loss) carried forward -€557,996
down €557,996 (-100.0%), from €557,996 to €0
- Current portion of long-term debt -€122,155
down €122,155 (-81.3%), from €150,278 to €28,122
- Debts after one year +€97,658
up €97,658 (+2252.4%), from €4,336 to €101,993
- Other debts -€41,521
down €41,521 (-96.1%), from €43,222 to €1,701
- Financial charges +€598,492
up €598,492 (+8545.3%), from €7,004 to €605,496
of which Non-recurring financial charges: +€600,000
- Depreciation -€3,414
down €3,414 (-70.0%), from €4,874 to €1,460
- Gross operating margin -€3,168
down €3,168 (-4.6%), from €68,926 to €65,758
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 | €861,615 | €231,901 | -€629,713 | -73.1% |
| Fixed assets | 21/28 | €793,766 | €204,918 | -€588,847 | -74.2% |
| Tangible fixed assets | 22/27 | €3,721 | €14,873 | +€11,153 | +299.7% |
| Furniture and vehicles | 24 | €3,721 | €14,873 | +€11,153 | +299.7% |
| Financial fixed assets | 28 | €790,045 | €190,045 | -€600,000 | -75.9% |
| Current assets | 29/58 | €67,849 | €26,983 | -€40,866 | -60.2% |
| Amounts receivable within one year | 40/41 | €16,472 | €17,371 | +€899 | +5.5% |
| Trade receivables | 40 | €16,472 | €17,080 | +€608 | +3.7% |
| Other amounts receivable | 41 | €0 | €291 | +€291 | |
| Cash at bank and in hand | 54/58 | €49,521 | €7,221 | -€42,299 | -85.4% |
| Deferred charges and accrued income | 490/1 | €1,856 | €2,391 | +€535 | +28.8% |
| Total equity and liabilities | 10/49 | €861,615 | €231,901 | -€629,713 | -73.1% |
| Equity | 10/15 | €651,817 | €92,118 | -€559,698 | -85.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,221 | €73,518 | -€1,702 | -2.3% |
| Distributable reserves | 133 | €75,221 | €73,518 | -€1,702 | -2.3% |
| Profit (loss) carried forward | 14 | €557,996 | €0 | -€557,996 | -100.0% |
| Amounts payable | 17/49 | €209,798 | €139,783 | -€70,015 | -33.4% |
| Amounts payable after more than one year | 17 | €4,336 | €101,993 | +€97,658 | +2252.4% |
| Financial debts | 170/4 | €4,336 | €101,993 | +€97,658 | +2252.4% |
| Amounts payable within one year | 42/48 | €205,463 | €37,443 | -€168,020 | -81.8% |
| Current portion of amounts payable after more than one year | 42 | €150,278 | €28,122 | -€122,155 | -81.3% |
| Trade debts | 44 | €2,009 | €544 | -€1,464 | -72.9% |
| Suppliers | 440/4 | €2,009 | €544 | -€1,464 | -72.9% |
| Taxes, remuneration and social security | 45 | €9,954 | €7,075 | -€2,879 | -28.9% |
| Taxes | 450/3 | €9,954 | €7,075 | -€2,879 | -28.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €43,222 | €1,701 | -€41,521 | -96.1% |
| Accrued charges and deferred income | 492/3 | - | €347 | +€347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,874 | €1,460 | -€3,414 | -70.0% |
| Other operating charges | 640/8 | €1,548 | €1,690 | +€142 | +9.2% |
| Non-recurring operating charges | 66A | - | €466 | +€466 | |
| Gross operating margin | 9900 | €68,926 | €65,758 | -€3,168 | -4.6% |
| Operating profit (loss) | 9901 | €62,504 | €62,142 | -€362 | -0.6% |
| Financial income | 75/76B | €0 | €31 | +€30 | +17929.4% |
| Recurring financial income | 75 | €0 | €31 | +€30 | +17929.4% |
| Financial charges | 65/66B | €7,004 | €605,496 | +€598,492 | +8545.3% |
| Recurring financial charges | 65 | €7,004 | €5,496 | -€1,508 | -21.5% |
| Non-recurring financial charges | 66B | - | €600,000 | +€600,000 | |
| Profit (loss) for the period before taxes | 9903 | €55,500 | -€543,323 | -€598,824 | |
| Income taxes | 67/77 | €14,944 | €14,709 | -€235 | -1.6% |
| Profit (loss) for the period | 9904 | €40,556 | -€558,032 | -€598,588 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,556 | -€558,032 | -€598,588 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.