THIO MATERIALS: 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.
THIO MATERIALS
Largest movements
- Intangible fixed assets -€439,889
down €439,889 (-21.6%), from €2.0m to €1.6m
- Receivables within one year -€35,738
down €35,738 (-25.5%), from €140,382 to €104,644
of which Trade receivables: -€34,216
- Profit (loss) carried forward -€1.4m
down €1.4m (-40.9%), from -€3.5m to -€5.0m
- Short-term financial debts +€1.0m
up €1.0m (+18.6%), from €5.5m to €6.6m
- Trade debts -€35,560
down €35,560 (-10.1%), from €352,859 to €317,299
- Other debts -€35,502
down €35,502 (-100.0%), from €35,502 to €0
- Purchases and services -€248,371
down €248,371 (-37.9%), from €656,193 to €407,822
- Gross operating margin +€164,581
up €164,581 (+74.5%), from -€220,813 to -€56,233
- Financial charges +€88,809
up €88,809 (+33.3%), from €266,435 to €355,244
- Depreciation +€84,400
up €84,400 (+10.9%), from €774,154 to €858,554
- Turnover -€75,555
down €75,555 (-100.0%), from €75,555 to €0
From the 2023 result to the 2024 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,655,556 | €2,169,529 | -€486,028 | -18.3% |
| Fixed assets | 21/28 | €2,306,108 | €1,856,048 | -€450,060 | -19.5% |
| Intangible fixed assets | 21 | €2,033,642 | €1,593,752 | -€439,889 | -21.6% |
| Tangible fixed assets | 22/27 | €267,285 | €257,114 | -€10,171 | -3.8% |
| Land and buildings | 22 | €46,871 | €43,158 | -€3,713 | -7.9% |
| Plant, machinery and equipment | 23 | €220,404 | €213,956 | -€6,447 | -2.9% |
| Furniture and vehicles | 24 | €10 | €0 | -€10 | -100.0% |
| Financial fixed assets | 28 | €5,182 | €5,182 | = | 0.0% |
| Current assets | 29/58 | €349,448 | €313,481 | -€35,968 | -10.3% |
| Amounts receivable after more than one year | 29 | €208,798 | €208,798 | = | 0.0% |
| Other amounts receivable | 291 | €208,798 | €208,798 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €140,382 | €104,644 | -€35,738 | -25.5% |
| Trade receivables | 40 | €110,384 | €76,168 | -€34,216 | -31.0% |
| Other amounts receivable | 41 | €29,998 | €28,476 | -€1,522 | -5.1% |
| Deferred charges and accrued income | 490/1 | €268 | €39 | -€229 | -85.5% |
| Total equity and liabilities | 10/49 | €2,655,556 | €2,169,529 | -€486,028 | -18.3% |
| Equity | 10/15 | -€3,306,235 | -€4,750,270 | -€1.4m | -43.7% |
| Contributions | 10/11 | €201,000 | €201,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,532,235 | -€4,976,270 | -€1.4m | -40.9% |
| Amounts payable | 17/49 | €5,961,791 | €6,919,799 | +€958,008 | +16.1% |
| Amounts payable within one year | 42/48 | €5,961,791 | €6,919,799 | +€958,008 | +16.1% |
| Financial debts | 43 | €5,542,624 | €6,572,875 | +€1.0m | +18.6% |
| Credit institutions | 430/8 | €5,542,624 | €6,572,875 | +€1.0m | +18.6% |
| Trade debts | 44 | €352,859 | €317,299 | -€35,560 | -10.1% |
| Suppliers | 440/4 | €352,859 | €317,299 | -€35,560 | -10.1% |
| Taxes, remuneration and social security | 45 | €30,807 | €29,626 | -€1,181 | -3.8% |
| Taxes | 450/3 | €2,394 | €1,819 | -€575 | -24.0% |
| Remuneration and social security | 454/9 | €28,412 | €27,806 | -€606 | -2.1% |
| Other amounts payable | 47/48 | €35,502 | €0 | -€35,502 | -100.0% |
| Turnover | 70 | €75,555 | €0 | -€75,555 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €656,193 | €407,822 | -€248,371 | -37.9% |
| Remuneration, social security and pensions | 62 | €164,524 | €165,066 | +€543 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €774,154 | €858,554 | +€84,400 | +10.9% |
| Other operating charges | 640/8 | €20,232 | €9,526 | -€10,706 | -52.9% |
| Gross operating margin | 9900 | -€220,813 | -€56,233 | +€164,581 | +74.5% |
| Operating profit (loss) | 9901 | -€1,179,723 | -€1,089,379 | +€90,344 | +7.7% |
| Financial income | 75/76B | €0 | €801 | +€801 | |
| Recurring financial income | 75 | €0 | €801 | +€801 | |
| Financial charges | 65/66B | €266,435 | €355,244 | +€88,809 | +33.3% |
| Recurring financial charges | 65 | €266,435 | €355,244 | +€88,809 | +33.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,446,157 | -€1,443,822 | +€2,336 | +0.2% |
| Income taxes | 67/77 | €210 | €214 | +€4 | +1.8% |
| Profit (loss) for the period | 9904 | -€1,446,368 | -€1,444,036 | +€2,332 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,446,368 | -€1,444,036 | +€2,332 | +0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.