THIVAC: 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.
THIVAC
Largest movements
- Cash +€30,465
up €30,465 (+171.9%), from €17,719 to €48,184
mainly Net result for the year (+€76,824) and Contributions, distributions and other (+€20,000)
- Reserves +€76,824
up €76,824 (+20.5%), from €373,960 to €450,784
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Debts after one year -€31,804
down €31,804 (-16.1%), from €197,321 to €165,518
- Contributions +€20,000
new in 2025: €20,000
- Financial income -€340,000
no longer reported in 2025 (was €340,000)
- Turnover -€84,000
no longer reported in 2025 (was €84,000)
- Gross operating margin +€50,104
up €50,104 (+77.5%), from €64,688 to €114,792
- Purchases and services -€19,312
no longer reported in 2025 (was €19,312)
- Taxes +€14,288
up €14,288 (+126.2%), from €11,320 to €25,608
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 | €1,542,496 | €1,573,566 | +€31,070 | +2.0% |
| Fixed assets | 21/28 | €1,510,258 | €1,510,258 | = | 0.0% |
| Financial fixed assets | 28 | €1,510,258 | €1,510,258 | = | 0.0% |
| Current assets | 29/58 | €32,239 | €63,309 | +€31,070 | +96.4% |
| Amounts receivable within one year | 40/41 | €14,520 | €15,125 | +€605 | +4.2% |
| Trade receivables | 40 | €14,520 | €15,125 | +€605 | +4.2% |
| Cash at bank and in hand | 54/58 | €17,719 | €48,184 | +€30,465 | +171.9% |
| Total equity and liabilities | 10/49 | €1,542,496 | €1,573,566 | +€31,070 | +2.0% |
| Equity | 10/15 | €373,960 | €470,784 | +€96,824 | +25.9% |
| Contributions | 10/11 | - | €20,000 | +€20,000 | |
| Reserves | 13 | €373,960 | €450,784 | +€76,824 | +20.5% |
| Distributable reserves | 133 | €373,960 | €450,784 | +€76,824 | +20.5% |
| Amounts payable | 17/49 | €1,168,536 | €1,102,782 | -€65,754 | -5.6% |
| Amounts payable after more than one year | 17 | €197,321 | €165,518 | -€31,804 | -16.1% |
| Financial debts | 170/4 | €197,321 | €165,518 | -€31,804 | -16.1% |
| Amounts payable within one year | 42/48 | €971,215 | €937,265 | -€33,950 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €30,407 | €31,804 | +€1,397 | +4.6% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €42 | €422 | +€380 | +906.5% |
| Suppliers | 440/4 | €42 | €422 | +€380 | +906.5% |
| Taxes, remuneration and social security | 45 | €20,558 | €34,832 | +€14,274 | +69.4% |
| Taxes | 450/3 | €18,910 | €33,176 | +€14,266 | +75.4% |
| Remuneration and social security | 454/9 | €1,648 | €1,656 | +€7 | +0.5% |
| Other amounts payable | 47/48 | €870,208 | €870,208 | = | 0.0% |
| Turnover | 70 | €84,000 | - | -€84,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €19,312 | - | -€19,312 | |
| Other operating charges | 640/8 | €384 | - | -€384 | |
| Gross operating margin | 9900 | €64,688 | €114,792 | +€50,104 | +77.5% |
| Operating profit (loss) | 9901 | €64,303 | €114,792 | +€50,488 | +78.5% |
| Financial income | 75/76B | €340,000 | - | -€340,000 | |
| Recurring financial income | 75 | €340,000 | - | -€340,000 | |
| Financial charges | 65/66B | €19,023 | €12,360 | -€6,662 | -35.0% |
| Recurring financial charges | 65 | €19,023 | €12,360 | -€6,662 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €385,280 | €102,431 | -€282,849 | -73.4% |
| Income taxes | 67/77 | €11,320 | €25,608 | +€14,288 | +126.2% |
| Profit (loss) for the period | 9904 | €373,960 | €76,824 | -€297,137 | -79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €373,960 | €76,824 | -€297,137 | -79.5% |
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 4 October 2026 via checked.be.