THISERO: 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.
THISERO
Largest movements
- Tangible fixed assets +€46,134
up €46,134 (+87.2%), from €52,923 to €99,057
of which Furniture and vehicles: +€45,505
- Receivables within one year +€6,672
up €6,672 (+214.3%), from €3,114 to €9,785
of which Other amounts receivable: +€6,227
- Deferred charges and accrued income -€3,324
down €3,324 (-57.1%), from €5,823 to €2,498
- Cash +€3,262
up €3,262 (+2.8%), from €114,484 to €117,747
mainly Other debts (+€64,000) and Debts after one year (+€33,589)
- Other debts +€64,000
up €64,000 (+320.0%), from €20,000 to €84,000
- Reserves -€55,250
down €55,250 (-65.8%), from €84,000 to €28,750
- Debts after one year +€33,589
new in 2025: €33,589
- Current portion of long-term debt +€8,089
new in 2025: €8,089
- Tax, wage and social debts +€2,313
up €2,313 (+81.3%), from €2,846 to €5,160
- Gross operating margin +€60,814
up €60,814, from -€3,672 to €57,142
- Depreciation +€9,847
up €9,847 (+88.9%), from €11,082 to €20,929
- Taxes +€2,530
up €2,530 (+506.6%), from €499 to €3,029
- Other operating charges +€2,190
up €2,190 (+200.1%), from €1,095 to €3,285
- Financial charges +€1,105
up €1,105 (+226.5%), from €488 to €1,593
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 | €176,399 | €229,143 | +€52,744 | +29.9% |
| Fixed assets | 21/28 | €52,979 | €99,113 | +€46,134 | +87.1% |
| Tangible fixed assets | 22/27 | €52,923 | €99,057 | +€46,134 | +87.2% |
| Plant, machinery and equipment | 23 | €1,264 | €1,894 | +€629 | +49.8% |
| Furniture and vehicles | 24 | €51,658 | €97,163 | +€45,505 | +88.1% |
| Financial fixed assets | 28 | €57 | €57 | = | 0.0% |
| Current assets | 29/58 | €123,420 | €130,030 | +€6,610 | +5.4% |
| Amounts receivable within one year | 40/41 | €3,114 | €9,785 | +€6,672 | +214.3% |
| Trade receivables | 40 | - | €445 | +€445 | |
| Other amounts receivable | 41 | €3,114 | €9,340 | +€6,227 | +200.0% |
| Cash at bank and in hand | 54/58 | €114,484 | €117,747 | +€3,262 | +2.8% |
| Deferred charges and accrued income | 490/1 | €5,823 | €2,498 | -€3,324 | -57.1% |
| Total equity and liabilities | 10/49 | €176,399 | €229,143 | +€52,744 | +29.9% |
| Equity | 10/15 | €151,514 | €96,621 | -€54,893 | -36.2% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €84,000 | €28,750 | -€55,250 | -65.8% |
| Distributable reserves | 133 | €84,000 | €28,750 | -€55,250 | -65.8% |
| Profit (loss) carried forward | 14 | €53,254 | €53,611 | +€357 | +0.7% |
| Amounts payable | 17/49 | €24,886 | €132,523 | +€107,637 | +432.5% |
| Amounts payable after more than one year | 17 | - | €33,589 | +€33,589 | |
| Financial debts | 170/4 | - | €33,589 | +€33,589 | |
| Amounts payable within one year | 42/48 | €24,886 | €98,544 | +€73,658 | +296.0% |
| Current portion of amounts payable after more than one year | 42 | - | €8,089 | +€8,089 | |
| Trade debts | 44 | €2,040 | €1,296 | -€744 | -36.5% |
| Suppliers | 440/4 | €2,040 | €1,296 | -€744 | -36.5% |
| Taxes, remuneration and social security | 45 | €2,846 | €5,160 | +€2,313 | +81.3% |
| Taxes | 450/3 | €2,846 | €5,160 | +€2,313 | +81.3% |
| Other amounts payable | 47/48 | €20,000 | €84,000 | +€64,000 | +320.0% |
| Accrued charges and deferred income | 492/3 | - | €390 | +€390 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,082 | €20,929 | +€9,847 | +88.9% |
| Other operating charges | 640/8 | €1,095 | €3,285 | +€2,190 | +200.1% |
| Gross operating margin | 9900 | -€3,672 | €57,142 | +€60,814 | |
| Operating profit (loss) | 9901 | -€15,849 | €32,929 | +€48,778 | |
| Financial income | 75/76B | €848 | €800 | -€48 | -5.7% |
| Recurring financial income | 75 | €848 | €800 | -€48 | -5.7% |
| Financial charges | 65/66B | €488 | €1,593 | +€1,105 | +226.5% |
| Recurring financial charges | 65 | €488 | €1,593 | +€1,105 | +226.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,489 | €32,136 | +€47,625 | |
| Income taxes | 67/77 | €499 | €3,029 | +€2,530 | +506.6% |
| Profit (loss) for the period | 9904 | -€15,988 | €29,107 | +€45,095 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,988 | €29,107 | +€45,095 |
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 11 October 2026 via checked.be.