THIO MATERIALS BELGIUM: 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.
THIO MATERIALS BELGIUM
Largest movements
- Tangible fixed assets -€515,848
down €515,848 (-13.5%), from €3.8m to €3.3m
of which Plant, machinery and equipment: -€459,200
- Intangible fixed assets -€357,623
down €357,623 (-31.2%), from €1.1m to €788,341
- Receivables within one year +€271,268
up €271,268 (+39.8%), from €680,896 to €952,165
of which Trade receivables: +€259,386
- Stocks and contracts -€263,529
down €263,529 (-59.6%), from €442,141 to €178,612
- Deferred charges and accrued income +€70,163
up €70,163 (+34,881%), from €201 to €70,364
- Profit (loss) carried forward -€2.0m
down €2.0m (-24.9%), from -€8.2m to -€10.3m
- Short-term financial debts +€1.7m
up €1.7m (+13.2%), from €12.7m to €14.3m
- Trade debts -€408,002
down €408,002 (-66.3%), from €615,571 to €207,569
- Gross operating margin +€770,120
up €770,120 (+92.0%), from -€837,237 to -€67,117
- Staff costs -€159,307
down €159,307 (-24.7%), from €643,752 to €484,445
- Depreciation +€101,940
up €101,940 (+13.2%), from €771,531 to €873,471
- Financial charges -€66,496
down €66,496 (-10.0%), from €661,808 to €595,312
- Other operating charges -€57,560
down €57,560 (-67.9%), from €84,807 to €27,247
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,093,196 | €5,297,727 | -€795,469 | -13.1% |
| Fixed assets | 21/28 | €4,969,957 | €4,096,486 | -€873,471 | -17.6% |
| Intangible fixed assets | 21 | €1,145,965 | €788,341 | -€357,623 | -31.2% |
| Tangible fixed assets | 22/27 | €3,818,837 | €3,302,989 | -€515,848 | -13.5% |
| Land and buildings | 22 | €163,481 | €153,658 | -€9,822 | -6.0% |
| Plant, machinery and equipment | 23 | €3,153,011 | €2,693,812 | -€459,200 | -14.6% |
| Furniture and vehicles | 24 | €12,811 | €381 | -€12,430 | -97.0% |
| Other tangible fixed assets | 26 | €489,534 | €455,138 | -€34,396 | -7.0% |
| Financial fixed assets | 28 | €5,156 | €5,156 | = | 0.0% |
| Current assets | 29/58 | €1,123,238 | €1,201,241 | +€78,002 | +6.9% |
| Stocks and contracts in progress | 3 | €442,141 | €178,612 | -€263,529 | -59.6% |
| Stocks | 30/36 | €442,141 | €178,612 | -€263,529 | -59.6% |
| Amounts receivable within one year | 40/41 | €680,896 | €952,165 | +€271,268 | +39.8% |
| Trade receivables | 40 | €667,808 | €927,194 | +€259,386 | +38.8% |
| Other amounts receivable | 41 | €13,088 | €24,971 | +€11,883 | +90.8% |
| Cash at bank and in hand | 54/58 | €0 | €100 | +€100 | |
| Deferred charges and accrued income | 490/1 | €201 | €70,364 | +€70,163 | +34,881% |
| Total equity and liabilities | 10/49 | €6,093,196 | €5,297,727 | -€795,469 | -13.1% |
| Equity | 10/15 | -€7,227,321 | -€9,275,129 | -€2.0m | -28.3% |
| Contributions | 10/11 | €1,010,898 | €1,010,898 | = | 0.0% |
| Capital | 10 | €1,010,898 | €1,010,898 | = | 0.0% |
| Issued capital | 100 | €1,010,898 | €1,010,898 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,238,219 | -€10,286,027 | -€2.0m | -24.9% |
| Amounts payable | 17/49 | €13,320,517 | €14,572,856 | +€1.3m | +9.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €13,320,517 | €14,566,480 | +€1.2m | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €12,651,602 | €14,325,203 | +€1.7m | +13.2% |
| Credit institutions | 430/8 | €12,651,602 | €14,325,203 | +€1.7m | +13.2% |
| Trade debts | 44 | €615,571 | €207,569 | -€408,002 | -66.3% |
| Suppliers | 440/4 | €615,571 | €207,569 | -€408,002 | -66.3% |
| Taxes, remuneration and social security | 45 | €53,343 | €33,707 | -€19,637 | -36.8% |
| Taxes | 450/3 | €0 | €5,167 | +€5,167 | |
| Remuneration and social security | 454/9 | €53,343 | €28,540 | -€24,803 | -46.5% |
| Accrued charges and deferred income | 492/3 | - | €6,376 | +€6,376 | |
| Non-recurring operating income | 76A | €494,033 | €0 | -€494,033 | -100% |
| Remuneration, social security and pensions | 62 | €643,752 | €484,445 | -€159,307 | -24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €771,531 | €873,471 | +€101,940 | +13.2% |
| Other operating charges | 640/8 | €84,807 | €27,247 | -€57,560 | -67.9% |
| Gross operating margin | 9900 | -€837,237 | -€67,117 | +€770,120 | +92.0% |
| Operating profit (loss) | 9901 | -€2,337,328 | -€1,452,280 | +€885,047 | +37.9% |
| Financial income | 75/76B | €783 | €464 | -€319 | -40.7% |
| Recurring financial income | 75 | €783 | €464 | -€319 | -40.7% |
| Financial charges | 65/66B | €661,808 | €595,312 | -€66,496 | -10.0% |
| Recurring financial charges | 65 | €661,808 | €595,312 | -€66,496 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,998,353 | -€2,047,127 | +€951,225 | +31.7% |
| Income taxes | 67/77 | €972 | €680 | -€292 | -30.0% |
| Profit (loss) for the period | 9904 | -€2,999,325 | -€2,047,808 | +€951,517 | +31.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,999,325 | -€2,047,808 | +€951,517 | +31.7% |
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 27 October 2026 via checked.be.