THIRDEXPERT MANAGEMENT & CONSULTING: 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.
THIRDEXPERT MANAGEMENT & CONSULTING
Largest movements
- Cash +€167,516
up €167,516 (+251%), from €66,773 to €234,289
mainly Net result for the year (+€193,099) and Receivables within one year (+€86,318)
- Receivables within one year -€86,318
down €86,318 (-76.1%), from €113,495 to €27,177
of which Other amounts receivable: -€49,736
- Financial fixed assets +€75,737
up €75,737 (+20.5%), from €369,570 to €445,307
- Tangible fixed assets -€54,479
down €54,479 (-27.1%), from €200,692 to €146,212
of which Furniture and vehicles: -€53,938
- Reserves +€99,309
up €99,309 (+14.7%), from €674,704 to €774,014
- Debts after one year -€30,697
down €30,697 (-100%), from €30,697 to €0
- Tax, wage and social debts +€26,147
up €26,147 (+126%), from €20,696 to €46,842
- Current portion of long-term debt -€13,155
down €13,155 (-59.1%), from €22,248 to €9,093
- Other debts +€10,187
new in 2025: €10,187
- Financial income +€188,638
up €188,638 (+3,723%), from €5,067 to €193,705
of which Financial income: +€188,638
- Taxes +€64,211
up €64,211 (+244%), from €26,306 to €90,517
- Gross operating margin +€9,028
up €9,028 (+6.6%), from €137,570 to €146,598
- Financial charges -€8,135
down €8,135 (-85.2%), from €9,544 to €1,409
of which Non-recurring financial charges: -€6,467
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 | €759,234 | €857,301 | +€98,067 | +12.9% |
| Fixed assets | 21/28 | €570,262 | €591,520 | +€21,258 | +3.7% |
| Tangible fixed assets | 22/27 | €200,692 | €146,212 | -€54,479 | -27.1% |
| Plant, machinery and equipment | 23 | €542 | €0 | -€542 | -100% |
| Furniture and vehicles | 24 | €200,150 | €146,212 | -€53,938 | -26.9% |
| Financial fixed assets | 28 | €369,570 | €445,307 | +€75,737 | +20.5% |
| Current assets | 29/58 | €188,972 | €265,782 | +€76,809 | +40.6% |
| Amounts receivable within one year | 40/41 | €113,495 | €27,177 | -€86,318 | -76.1% |
| Trade receivables | 40 | €63,758 | €27,177 | -€36,581 | -57.4% |
| Other amounts receivable | 41 | €49,736 | €0 | -€49,736 | -100% |
| Cash at bank and in hand | 54/58 | €66,773 | €234,289 | +€167,516 | +251% |
| Deferred charges and accrued income | 490/1 | €8,704 | €4,316 | -€4,389 | -50.4% |
| Total equity and liabilities | 10/49 | €759,234 | €857,301 | +€98,067 | +12.9% |
| Equity | 10/15 | €680,904 | €780,214 | +€99,309 | +14.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €674,704 | €774,014 | +€99,309 | +14.7% |
| Distributable reserves | 133 | €674,704 | €774,014 | +€99,309 | +14.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,330 | €77,088 | -€1,242 | -1.6% |
| Amounts payable after more than one year | 17 | €30,697 | €0 | -€30,697 | -100% |
| Financial debts | 170/4 | €30,697 | €0 | -€30,697 | -100% |
| Amounts payable within one year | 42/48 | €47,633 | €77,088 | +€29,455 | +61.8% |
| Current portion of amounts payable after more than one year | 42 | €22,248 | €9,093 | -€13,155 | -59.1% |
| Financial debts | 43 | - | €2,009 | +€2,009 | |
| Credit institutions | 430/8 | - | €2,009 | +€2,009 | |
| Trade debts | 44 | €4,689 | €8,957 | +€4,267 | +91.0% |
| Suppliers | 440/4 | €4,689 | €8,957 | +€4,267 | +91.0% |
| Taxes, remuneration and social security | 45 | €20,696 | €46,842 | +€26,147 | +126% |
| Taxes | 450/3 | €20,696 | €46,842 | +€26,147 | +126% |
| Other amounts payable | 47/48 | - | €10,187 | +€10,187 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,409 | €54,479 | +€70 | +0.1% |
| Other operating charges | 640/8 | €1,242 | €798 | -€444 | -35.8% |
| Non-recurring operating charges | 66A | €8,055 | €0 | -€8,055 | -100% |
| Gross operating margin | 9900 | €137,570 | €146,598 | +€9,028 | +6.6% |
| Operating profit (loss) | 9901 | €73,864 | €91,320 | +€17,457 | +23.6% |
| Financial income | 75/76B | €5,067 | €193,705 | +€188,638 | +3,723% |
| Recurring financial income | 75 | €5,067 | €193,705 | +€188,638 | +3,723% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €9,544 | €1,409 | -€8,135 | -85.2% |
| Recurring financial charges | 65 | €3,077 | €1,409 | -€1,668 | -54.2% |
| Non-recurring financial charges | 66B | €6,467 | €0 | -€6,467 | -100% |
| Profit (loss) for the period before taxes | 9903 | €69,386 | €283,616 | +€214,230 | +309% |
| Income taxes | 67/77 | €26,306 | €90,517 | +€64,211 | +244% |
| Profit (loss) for the period | 9904 | €43,080 | €193,099 | +€150,019 | +348% |
| Profit (loss) for the period to be appropriated | 9905 | €43,080 | €193,099 | +€150,019 | +348% |
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 18 October 2026 via checked.be.