THOCA: 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.
THOCA
Largest movements
- Tangible fixed assets +€26,857
up €26,857 (+99.0%), from €27,120 to €53,977
- Cash -€4,854
down €4,854 (-40.4%), from €12,007 to €7,154
- Reserves +€10,000
new in 2025: €10,000
- Profit (loss) carried forward +€8,349
up €8,349, from -€379 to €7,970
- Tax, wage and social debts +€7,136
up €7,136 (+175%), from €4,079 to €11,215
of which Taxes: +€6,790
- Other debts -€4,582
down €4,582 (-57.4%), from €7,978 to €3,396
- Trade debts +€1,097
up €1,097 (+47.7%), from €2,297 to €3,394
- Gross operating margin +€23,478
up €23,478 (+116%), from €20,318 to €43,797
- Taxes +€5,124
up €5,124 (+149%), from €3,438 to €8,562
- Depreciation -€1,666
down €1,666 (-37.8%), from €4,408 to €2,742
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,405 | €61,575 | +€21,171 | +52.4% |
| Fixed assets | 21/28 | €27,120 | €53,977 | +€26,857 | +99.0% |
| Tangible fixed assets | 22/27 | €27,120 | €53,977 | +€26,857 | +99.0% |
| Furniture and vehicles | 24 | €27,120 | €53,977 | +€26,857 | +99.0% |
| Current assets | 29/58 | €13,285 | €7,598 | -€5,687 | -42.8% |
| Amounts receivable within one year | 40/41 | €867 | €445 | -€422 | -48.7% |
| Trade receivables | 40 | €822 | €400 | -€422 | -51.4% |
| Other amounts receivable | 41 | €45 | €45 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,007 | €7,154 | -€4,854 | -40.4% |
| Deferred charges and accrued income | 490/1 | €411 | - | -€411 | |
| Total equity and liabilities | 10/49 | €40,405 | €61,575 | +€21,171 | +52.4% |
| Equity | 10/15 | €18,221 | €36,570 | +€18,349 | +101% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €10,000 | +€10,000 | |
| Distributable reserves | 133 | - | €10,000 | +€10,000 | |
| Profit (loss) carried forward | 14 | -€379 | €7,970 | +€8,349 | |
| Amounts payable | 17/49 | €22,184 | €25,006 | +€2,822 | +12.7% |
| Amounts payable within one year | 42/48 | €21,355 | €25,006 | +€3,651 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €7,000 | = | 0.0% |
| Trade debts | 44 | €2,297 | €3,394 | +€1,097 | +47.7% |
| Suppliers | 440/4 | €2,297 | €3,394 | +€1,097 | +47.7% |
| Taxes, remuneration and social security | 45 | €4,079 | €11,215 | +€7,136 | +175% |
| Taxes | 450/3 | €4,079 | €10,870 | +€6,790 | +166% |
| Remuneration and social security | 454/9 | - | €345 | +€345 | |
| Other amounts payable | 47/48 | €7,978 | €3,396 | -€4,582 | -57.4% |
| Accrued charges and deferred income | 492/3 | €829 | - | -€829 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,408 | €2,742 | -€1,666 | -37.8% |
| Other operating charges | 640/8 | €557 | €525 | -€33 | -5.8% |
| Non-recurring operating charges | 66A | - | €18,675 | +€18,675 | |
| Gross operating margin | 9900 | €20,318 | €43,797 | +€23,478 | +116% |
| Operating profit (loss) | 9901 | €15,353 | €21,855 | +€6,502 | +42.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2,400% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2,400% |
| Financial charges | 65/66B | €166 | €254 | +€88 | +53.0% |
| Recurring financial charges | 65 | €166 | €254 | +€88 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €15,187 | €21,602 | +€6,415 | +42.2% |
| Income taxes | 67/77 | €3,438 | €8,562 | +€5,124 | +149% |
| Profit (loss) for the period | 9904 | €11,749 | €13,040 | +€1,291 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,749 | €13,040 | +€1,291 | +11.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.