THIRASOA: 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.
THIRASOA
Largest movements
- Receivables within one year +€321,334
up €321,334 (+115.4%), from €278,425 to €599,759
of which Trade receivables: +€206,868
- Advances received +€116,959
new in 2025: €116,959
- Trade debts +€100,620
up €100,620 (+87.9%), from €114,445 to €215,065
- Reserves +€59,582
up €59,582 (+85.0%), from €70,115 to €129,697
of which Distributable reserves: +€59,582
- Other debts +€51,996
up €51,996, from €0 to €51,996
- Current portion of long-term debt -€7,000
down €7,000 (-69.2%), from €10,111 to €3,111
- Gross operating margin +€146,870
up €146,870, from -€86,633 to €60,236
- Taxes +€5,857
up €5,857 (+2473.6%), from €237 to €6,094
- Financial income +€3,268
up €3,268 (+77.6%), from €4,209 to €7,478
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 | €297,927 | €615,556 | +€317,629 | +106.6% |
| Current assets | 29/58 | €297,927 | €615,556 | +€317,629 | +106.6% |
| Amounts receivable within one year | 40/41 | €278,425 | €599,759 | +€321,334 | +115.4% |
| Trade receivables | 40 | €171,655 | €378,524 | +€206,868 | +120.5% |
| Other amounts receivable | 41 | €106,770 | €221,235 | +€114,466 | +107.2% |
| Cash at bank and in hand | 54/58 | €19,502 | €15,797 | -€3,705 | -19.0% |
| Total equity and liabilities | 10/49 | €297,927 | €615,556 | +€317,629 | +106.6% |
| Equity | 10/15 | €162,332 | €221,914 | +€59,582 | +36.7% |
| Contributions | 10/11 | €92,217 | €92,217 | = | 0.0% |
| Reserves | 13 | €70,115 | €129,697 | +€59,582 | +85.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €70,115 | €129,697 | +€59,582 | +85.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €135,595 | €393,643 | +€258,047 | +190.3% |
| Amounts payable after more than one year | 17 | €3,111 | €0 | -€3,111 | -100.0% |
| Financial debts | 170/4 | €3,111 | €0 | -€3,111 | -100.0% |
| Amounts payable within one year | 42/48 | €132,484 | €393,643 | +€261,158 | +197.1% |
| Current portion of amounts payable after more than one year | 42 | €10,111 | €3,111 | -€7,000 | -69.2% |
| Trade debts | 44 | €114,445 | €215,065 | +€100,620 | +87.9% |
| Suppliers | 440/4 | €114,445 | €215,065 | +€100,620 | +87.9% |
| Advances received on contracts in progress | 46 | - | €116,959 | +€116,959 | |
| Taxes, remuneration and social security | 45 | €7,928 | €6,512 | -€1,416 | -17.9% |
| Taxes | 450/3 | €7,928 | €6,512 | -€1,416 | -17.9% |
| Other amounts payable | 47/48 | €0 | €51,996 | +€51,996 | |
| Other operating charges | 640/8 | €782 | €329 | -€453 | -57.9% |
| Gross operating margin | 9900 | -€86,633 | €60,236 | +€146,870 | |
| Operating profit (loss) | 9901 | -€87,416 | €59,907 | +€147,323 | |
| Financial income | 75/76B | €4,209 | €7,478 | +€3,268 | +77.6% |
| Recurring financial income | 75 | €4,209 | €7,478 | +€3,268 | +77.6% |
| Financial charges | 65/66B | €1,063 | €1,709 | +€646 | +60.7% |
| Recurring financial charges | 65 | €1,063 | €1,709 | +€646 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | -€84,270 | €65,676 | +€149,946 | |
| Income taxes | 67/77 | €237 | €6,094 | +€5,857 | +2473.6% |
| Profit (loss) for the period | 9904 | -€84,506 | €59,582 | +€144,088 | |
| Profit (loss) for the period to be appropriated | 9905 | -€84,506 | €59,582 | +€144,088 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.