THIPAU: 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.
THIPAU
Largest movements
- Tangible fixed assets -€22,659
down €22,659 (-4.3%), from €527,453 to €504,794
of which Land and buildings: -€20,658
- Debts after one year -€13,995
down €13,995 (-3.6%), from €393,608 to €379,613
of which Financial debts: -€13,995
- Profit (loss) carried forward -€6,861
down €6,861 (-15.0%), from -€45,710 to -€52,571
- Gross operating margin +€9,546
up €9,546 (+46.2%), from €20,651 to €30,197
- Depreciation +€556
up €556 (+2.5%), from €22,104 to €22,659
- Financial charges -€512
down €512 (-4.0%), from €12,845 to €12,334
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 | €528,834 | €508,602 | -€20,232 | -3.8% |
| Fixed assets | 21/28 | €527,453 | €504,794 | -€22,659 | -4.3% |
| Tangible fixed assets | 22/27 | €527,453 | €504,794 | -€22,659 | -4.3% |
| Land and buildings | 22 | €519,440 | €498,782 | -€20,658 | -4.0% |
| Furniture and vehicles | 24 | €8,013 | €6,012 | -€2,001 | -25.0% |
| Current assets | 29/58 | €1,381 | €3,808 | +€2,427 | +175.8% |
| Amounts receivable within one year | 40/41 | - | €2,536 | +€2,536 | |
| Trade receivables | 40 | - | €2,536 | +€2,536 | |
| Cash at bank and in hand | 54/58 | €1,181 | €757 | -€424 | -35.9% |
| Deferred charges and accrued income | 490/1 | €200 | €514 | +€314 | +157.1% |
| Total equity and liabilities | 10/49 | €528,834 | €508,602 | -€20,232 | -3.8% |
| Equity | 10/15 | €119,290 | €112,429 | -€6,861 | -5.8% |
| Contributions | 10/11 | €165,000 | €165,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,710 | -€52,571 | -€6,861 | -15.0% |
| Amounts payable | 17/49 | €409,544 | €396,173 | -€13,371 | -3.3% |
| Amounts payable after more than one year | 17 | €393,608 | €379,613 | -€13,995 | -3.6% |
| Financial debts | 170/4 | €322,468 | €308,473 | -€13,995 | -4.3% |
| Other amounts payable | 178/9 | €71,140 | €71,140 | -€0 | 0.0% |
| Amounts payable within one year | 42/48 | €15,935 | €16,560 | +€624 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €13,489 | €13,995 | +€506 | +3.8% |
| Trade debts | 44 | €2,447 | €2,564 | +€118 | +4.8% |
| Suppliers | 440/4 | €2,447 | €2,564 | +€118 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,104 | €22,659 | +€556 | +2.5% |
| Other operating charges | 640/8 | €1,815 | €2,064 | +€249 | +13.7% |
| Gross operating margin | 9900 | €20,651 | €30,197 | +€9,546 | +46.2% |
| Operating profit (loss) | 9901 | -€3,268 | €5,473 | +€8,741 | |
| Financial income | 75/76B | €22 | €0 | -€22 | -100.0% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -100.0% |
| Financial charges | 65/66B | €12,845 | €12,334 | -€512 | -4.0% |
| Recurring financial charges | 65 | €12,845 | €12,334 | -€512 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€16,092 | -€6,861 | +€9,231 | +57.4% |
| Profit (loss) for the period | 9904 | -€16,092 | -€6,861 | +€9,231 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,092 | -€6,861 | +€9,231 | +57.4% |
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 30 September 2026 via checked.be.