THIOUX: 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.
THIOUX
Largest movements
- Receivables within one year +€96,980
up €96,980 (+139%), from €69,893 to €166,873
of which Trade receivables: +€91,411
- Cash +€70,087
up €70,087 (+34.5%), from €202,945 to €273,032
mainly Net result for the year (+€133,999) and Trade debts (+€53,659)
- Reserves +€90,000
up €90,000 (+42.4%), from €212,500 to €302,500
of which Distributable reserves: +€281,500
- Trade debts +€53,659
up €53,659 (+149%), from €36,134 to €89,793
- Other debts +€9,472
up €9,472 (+34.8%), from €27,217 to €36,689
- Tax, wage and social debts +€9,100
up €9,100 (+54.2%), from €16,800 to €25,900
of which Taxes: +€7,600
- Gross operating margin +€95,537
up €95,537 (+103%), from €92,581 to €188,118
- Taxes +€29,591
up €29,591 (+129%), from €22,987 to €52,579
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 | €301,518 | €464,749 | +€163,230 | +54.1% |
| Fixed assets | 21/28 | €24,725 | €20,231 | -€4,494 | -18.2% |
| Tangible fixed assets | 22/27 | €24,635 | €20,141 | -€4,494 | -18.2% |
| Plant, machinery and equipment | 23 | - | €548 | +€548 | |
| Furniture and vehicles | 24 | €24,635 | €19,593 | -€5,042 | -20.5% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €276,793 | €444,518 | +€167,725 | +60.6% |
| Amounts receivable within one year | 40/41 | €69,893 | €166,873 | +€96,980 | +139% |
| Trade receivables | 40 | €58,964 | €150,375 | +€91,411 | +155% |
| Other amounts receivable | 41 | €10,929 | €16,498 | +€5,569 | +51.0% |
| Cash at bank and in hand | 54/58 | €202,945 | €273,032 | +€70,087 | +34.5% |
| Deferred charges and accrued income | 490/1 | €3,955 | €4,613 | +€658 | +16.6% |
| Total equity and liabilities | 10/49 | €301,518 | €464,749 | +€163,230 | +54.1% |
| Equity | 10/15 | €221,367 | €312,367 | +€90,999 | +41.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €212,500 | €302,500 | +€90,000 | +42.4% |
| Non-distributable reserves | 130/1 | €191,500 | - | -€191,500 | |
| Other | 1319 | €191,500 | - | -€191,500 | |
| Distributable reserves | 133 | €21,000 | €302,500 | +€281,500 | +1,340% |
| Profit (loss) carried forward | 14 | €807 | €1,807 | +€999 | +124% |
| Amounts payable | 17/49 | €80,151 | €152,382 | +€72,231 | +90.1% |
| Amounts payable within one year | 42/48 | €80,151 | €152,382 | +€72,231 | +90.1% |
| Trade debts | 44 | €36,134 | €89,793 | +€53,659 | +149% |
| Suppliers | 440/4 | €36,134 | €89,793 | +€53,659 | +149% |
| Taxes, remuneration and social security | 45 | €16,800 | €25,900 | +€9,100 | +54.2% |
| Taxes | 450/3 | €14,300 | €21,900 | +€7,600 | +53.1% |
| Remuneration and social security | 454/9 | €2,500 | €4,000 | +€1,500 | +60.0% |
| Other amounts payable | 47/48 | €27,217 | €36,689 | +€9,472 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,597 | €7,401 | +€803 | +12.2% |
| Other operating charges | 640/8 | €525 | €468 | -€57 | -10.8% |
| Gross operating margin | 9900 | €92,581 | €188,118 | +€95,537 | +103% |
| Operating profit (loss) | 9901 | €85,459 | €180,249 | +€94,791 | +111% |
| Financial income | 75/76B | €7,922 | €6,544 | -€1,378 | -17.4% |
| Recurring financial income | 75 | €7,922 | €6,544 | -€1,378 | -17.4% |
| Financial charges | 65/66B | €375 | €215 | -€159 | -42.5% |
| Recurring financial charges | 65 | €240 | €215 | -€25 | -10.3% |
| Non-recurring financial charges | 66B | €134 | - | -€134 | |
| Profit (loss) for the period before taxes | 9903 | €93,006 | €186,578 | +€93,572 | +101% |
| Income taxes | 67/77 | €22,987 | €52,579 | +€29,591 | +129% |
| Profit (loss) for the period | 9904 | €70,018 | €133,999 | +€63,981 | +91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €70,018 | €133,999 | +€63,981 | +91.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.