THITHO VASCULAIRE: what changed
THITHO VASCULAIRE
Largest movements
- Cash +€3,787
up €3,787 (+5.4%), from €70,064 to €73,851
mainly Net result for the year (+€16,308) and Depreciation (+€3,000)
- Receivables within one year +€3,582
new in 2025: €3,582
- Tangible fixed assets -€3,000
down €3,000 (-68.6%), from €4,371 to €1,371
of which Plant, machinery and equipment: -€3,000
- Deferred charges and accrued income +€2,196
up €2,196 (+8.0%), from €27,335 to €29,531
- Reserves +€13,289
up €13,289 (+20.5%), from €64,888 to €78,176
- Other debts -€6,385
down €6,385 (-29.1%), from €21,947 to €15,562
- Gross operating margin -€21,700
down €21,700 (-44.6%), from €48,678 to €26,978
- Taxes -€5,571
down €5,571 (-46.5%), from €11,989 to €6,418
- Other operating charges -€637
down €637 (-34.5%), from €1,844 to €1,207
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,795 | €108,360 | +€6,565 | +6.4% |
| Fixed assets | 21/28 | €4,396 | €1,396 | -€3,000 | -68.2% |
| Tangible fixed assets | 22/27 | €4,371 | €1,371 | -€3,000 | -68.6% |
| Plant, machinery and equipment | 23 | €4,371 | €1,371 | -€3,000 | -68.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €97,399 | €106,964 | +€9,565 | +9.8% |
| Amounts receivable within one year | 40/41 | - | €3,582 | +€3,582 | |
| Other amounts receivable | 41 | - | €3,582 | +€3,582 | |
| Cash at bank and in hand | 54/58 | €70,064 | €73,851 | +€3,787 | +5.4% |
| Deferred charges and accrued income | 490/1 | €27,335 | €29,531 | +€2,196 | +8.0% |
| Total equity and liabilities | 10/49 | €101,795 | €108,360 | +€6,565 | +6.4% |
| Equity | 10/15 | €77,288 | €90,576 | +€13,289 | +17.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €64,888 | €78,176 | +€13,289 | +20.5% |
| Distributable reserves | 133 | €64,888 | €78,176 | +€13,289 | +20.5% |
| Amounts payable | 17/49 | €24,507 | €17,783 | -€6,724 | -27.4% |
| Amounts payable within one year | 42/48 | €24,507 | €17,783 | -€6,724 | -27.4% |
| Trade debts | 44 | €572 | €232 | -€339 | -59.4% |
| Suppliers | 440/4 | €572 | €232 | -€339 | -59.4% |
| Taxes, remuneration and social security | 45 | €1,989 | €1,989 | = | 0.0% |
| Taxes | 450/3 | €1,989 | €1,989 | = | 0.0% |
| Other amounts payable | 47/48 | €21,947 | €15,562 | -€6,385 | -29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,000 | €3,000 | = | 0.0% |
| Other operating charges | 640/8 | €1,844 | €1,207 | -€637 | -34.5% |
| Gross operating margin | 9900 | €48,678 | €26,978 | -€21,700 | -44.6% |
| Operating profit (loss) | 9901 | €43,835 | €22,771 | -€21,063 | -48.1% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €43,790 | €22,726 | -€21,063 | -48.1% |
| Income taxes | 67/77 | €11,989 | €6,418 | -€5,571 | -46.5% |
| Profit (loss) for the period | 9904 | €31,800 | €16,308 | -€15,493 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,800 | €16,308 | -€15,493 | -48.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.