THIRA: 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.
THIRA
Largest movements
- Current investments +€143,003
new in 2025: €143,003
- Cash -€66,603
down €66,603 (-42.5%), from €156,576 to €89,974
mainly Current investments (-€143,003) and Receivables within one year (-€9,891)
- Receivables within one year +€9,891
up €9,891 (+78.2%), from €12,649 to €22,540
of which Trade receivables: +€8,553
- Tangible fixed assets -€6,606
down €6,606 (-76.5%), from €8,634 to €2,028
of which Furniture and vehicles: -€6,398
- Profit (loss) carried forward +€79,938
up €79,938 (+47.9%), from €166,828 to €246,765
- Gross operating margin +€23,127
up €23,127 (+29.3%), from €78,951 to €102,078
- Taxes +€5,227
up €5,227 (+33.7%), from €15,500 to €20,727
- Depreciation -€3,304
down €3,304 (-70.6%), from €4,679 to €1,375
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 | €177,858 | €258,205 | +€80,347 | +45.2% |
| Fixed assets | 21/28 | €8,634 | €2,028 | -€6,606 | -76.5% |
| Tangible fixed assets | 22/27 | €8,634 | €2,028 | -€6,606 | -76.5% |
| Plant, machinery and equipment | 23 | €1,361 | €1,154 | -€207 | -15.2% |
| Furniture and vehicles | 24 | €7,273 | €874 | -€6,398 | -88.0% |
| Current assets | 29/58 | €169,225 | €256,177 | +€86,953 | +51.4% |
| Amounts receivable within one year | 40/41 | €12,649 | €22,540 | +€9,891 | +78.2% |
| Trade receivables | 40 | €6,643 | €15,196 | +€8,553 | +128.8% |
| Other amounts receivable | 41 | €6,006 | €7,344 | +€1,338 | +22.3% |
| Current investments | 50/53 | - | €143,003 | +€143,003 | |
| Cash at bank and in hand | 54/58 | €156,576 | €89,974 | -€66,603 | -42.5% |
| Deferred charges and accrued income | 490/1 | €0 | €661 | +€661 | |
| Total equity and liabilities | 10/49 | €177,858 | €258,205 | +€80,347 | +45.2% |
| Equity | 10/15 | €168,328 | €248,265 | +€79,938 | +47.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,828 | €246,765 | +€79,938 | +47.9% |
| Amounts payable | 17/49 | €9,531 | €9,940 | +€410 | +4.3% |
| Amounts payable within one year | 42/48 | €9,531 | €9,940 | +€410 | +4.3% |
| Financial debts | 43 | €332 | €0 | -€332 | -100.0% |
| Credit institutions | 430/8 | €332 | €0 | -€332 | -100.0% |
| Trade debts | 44 | €1,273 | €109 | -€1,164 | -91.4% |
| Suppliers | 440/4 | €1,273 | €109 | -€1,164 | -91.4% |
| Taxes, remuneration and social security | 45 | €7,926 | €9,656 | +€1,730 | +21.8% |
| Taxes | 450/3 | €7,926 | €9,656 | +€1,730 | +21.8% |
| Other amounts payable | 47/48 | €0 | €176 | +€176 | |
| Non-recurring operating income | 76A | - | €5,844 | +€5,844 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,679 | €1,375 | -€3,304 | -70.6% |
| Other operating charges | 640/8 | €814 | €120 | -€694 | -85.2% |
| Gross operating margin | 9900 | €78,951 | €102,078 | +€23,127 | +29.3% |
| Operating profit (loss) | 9901 | €73,458 | €100,582 | +€27,124 | +36.9% |
| Financial income | 75/76B | €345 | €237 | -€108 | -31.2% |
| Recurring financial income | 75 | €345 | €237 | -€108 | -31.2% |
| Financial charges | 65/66B | €96 | €155 | +€59 | +61.8% |
| Recurring financial charges | 65 | €96 | €155 | +€59 | +61.8% |
| Profit (loss) for the period before taxes | 9903 | €73,708 | €100,665 | +€26,957 | +36.6% |
| Income taxes | 67/77 | €15,500 | €20,727 | +€5,227 | +33.7% |
| Profit (loss) for the period | 9904 | €58,207 | €79,938 | +€21,730 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €58,207 | €79,938 | +€21,730 | +37.3% |
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 10 October 2026 via checked.be.