THIST: 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.
THIST
Largest movements
- Tangible fixed assets -€599,346
down €599,346 (-100%), from €599,346 to €0
of which Other tangible fixed assets: -€425,872
- Receivables after one year +€524,015
new in 2025: €524,015
- Receivables within one year -€431,962
down €431,962 (-56.0%), from €770,848 to €338,886
of which Trade receivables: -€261,846
- Intangible fixed assets -€160,494
down €160,494 (-100%), from €160,494 to €0
- Cash +€96,538
up €96,538 (+727%), from €13,277 to €109,815
mainly Net result for the year (+€1.3m) and Investment in fixed assets (net) (+€759,840)
- Debts after one year -€372,693
down €372,693 (-100%), from €372,693 to €0
- Trade debts -€243,643
down €243,643 (-85.0%), from €286,514 to €42,870
- Accrued charges and deferred income +€109,667
up €109,667 (+679%), from €16,162 to €125,829
- Tax, wage and social debts -€72,916
down €72,916 (-49.4%), from €147,731 to €74,815
of which Remuneration and social security: -€93,454
- Current portion of long-term debt -€42,577
down €42,577 (-100%), from €42,577 to €0
- Gross operating margin +€1.1m
up €1.1m (+127%), from €854,027 to €1.9m
- Staff costs -€452,460
down €452,460 (-73.9%), from €611,890 to €159,431
- Taxes +€425,664
up €425,664 (+1,834%), from €23,204 to €448,868
- Depreciation -€101,246
down €101,246 (-100%), from €101,246 to €0
- Financial income +€43,190
up €43,190 (+649%), from €6,655 to €49,844
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 | €1,610,369 | €976,466 | -€633,903 | -39.4% |
| Fixed assets | 21/28 | €763,590 | €3,750 | -€759,840 | -99.5% |
| Intangible fixed assets | 21 | €160,494 | €0 | -€160,494 | -100% |
| Tangible fixed assets | 22/27 | €599,346 | €0 | -€599,346 | -100% |
| Furniture and vehicles | 24 | €173,474 | €0 | -€173,474 | -100% |
| Other tangible fixed assets | 26 | €425,872 | €0 | -€425,872 | -100% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €846,778 | €972,716 | +€125,938 | +14.9% |
| Amounts receivable after more than one year | 29 | - | €524,015 | +€524,015 | |
| Other amounts receivable | 291 | - | €524,015 | +€524,015 | |
| Amounts receivable within one year | 40/41 | €770,848 | €338,886 | -€431,962 | -56.0% |
| Trade receivables | 40 | €478,639 | €216,793 | -€261,846 | -54.7% |
| Other amounts receivable | 41 | €292,209 | €122,093 | -€170,116 | -58.2% |
| Cash at bank and in hand | 54/58 | €13,277 | €109,815 | +€96,538 | +727% |
| Deferred charges and accrued income | 490/1 | €62,653 | €0 | -€62,653 | -100% |
| Total equity and liabilities | 10/49 | €1,610,369 | €976,466 | -€633,903 | -39.4% |
| Equity | 10/15 | €743,891 | €725,648 | -€18,244 | -2.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €681,891 | €663,648 | -€18,244 | -2.7% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €675,691 | €657,448 | -€18,244 | -2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €866,477 | €250,818 | -€615,659 | -71.1% |
| Amounts payable after more than one year | 17 | €372,693 | €0 | -€372,693 | -100% |
| Financial debts | 170/4 | €372,693 | €0 | -€372,693 | -100% |
| Amounts payable within one year | 42/48 | €477,622 | €124,989 | -€352,633 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €42,577 | €0 | -€42,577 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €286,514 | €42,870 | -€243,643 | -85.0% |
| Suppliers | 440/4 | €286,514 | €42,870 | -€243,643 | -85.0% |
| Taxes, remuneration and social security | 45 | €147,731 | €74,815 | -€72,916 | -49.4% |
| Taxes | 450/3 | €54,277 | €74,815 | +€20,537 | +37.8% |
| Remuneration and social security | 454/9 | €93,454 | €0 | -€93,454 | -100% |
| Other amounts payable | 47/48 | €800 | €7,304 | +€6,504 | +813% |
| Accrued charges and deferred income | 492/3 | €16,162 | €125,829 | +€109,667 | +679% |
| Non-recurring operating income | 76A | - | €1,944,176 | +€1.9m | |
| Remuneration, social security and pensions | 62 | €611,890 | €159,431 | -€452,460 | -73.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,246 | €0 | -€101,246 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,502 | €5,300 | -€4,203 | -44.2% |
| Other operating charges | 640/8 | €9,386 | €1,305 | -€8,081 | -86.1% |
| Non-recurring operating charges | 66A | €992 | €15,882 | +€14,890 | +1,501% |
| Gross operating margin | 9900 | €854,027 | €1,937,617 | +€1.1m | +127% |
| Operating profit (loss) | 9901 | €121,010 | €1,755,700 | +€1.6m | +1,351% |
| Financial income | 75/76B | €6,655 | €49,844 | +€43,190 | +649% |
| Recurring financial income | 75 | €6,655 | €49,844 | +€43,190 | +649% |
| Financial charges | 65/66B | €14,815 | €20,920 | +€6,104 | +41.2% |
| Recurring financial charges | 65 | €14,815 | €20,920 | +€6,104 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €112,850 | €1,784,624 | +€1.7m | +1,481% |
| Income taxes | 67/77 | €23,204 | €448,868 | +€425,664 | +1,834% |
| Profit (loss) for the period | 9904 | €89,646 | €1,335,756 | +€1.2m | +1,390% |
| Profit (loss) for the period to be appropriated | 9905 | €89,646 | €1,335,756 | +€1.2m | +1,390% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.