Thoco: 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.
Thoco
Largest movements
- Cash +€23,128
up €23,128 (+171.7%), from €13,468 to €36,596
mainly Net result for the year (+€37,819) and Depreciation (+€11,975)
- Receivables within one year +€22,063
up €22,063 (+63.3%), from €34,881 to €56,944
of which Trade receivables: +€22,043
- Tangible fixed assets -€11,975
down €11,975 (-23.0%), from €51,986 to €40,011
of which Furniture and vehicles: -€11,549
- Reserves +€36,986
up €36,986 (+194.7%), from €18,994 to €55,980
- Debts after one year -€9,945
down €9,945 (-27.8%), from €35,723 to €25,778
- Tax, wage and social debts +€5,777
up €5,777 (+42.1%), from €13,706 to €19,482
- Trade debts +€2,211
up €2,211 (+4079.1%), from €54 to €2,265
- Other debts -€2,168
down €2,168 (-9.8%), from €22,039 to €19,871
- Gross operating margin +€30,526
up €30,526 (+93.8%), from €32,550 to €63,076
- Taxes +€4,857
up €4,857 (+93.1%), from €5,218 to €10,075
- Depreciation +€4,791
up €4,791 (+66.7%), from €7,184 to €11,975
- Financial charges +€1,910
up €1,910 (+163.4%), from €1,169 to €3,079
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 | €100,998 | €134,257 | +€33,259 | +32.9% |
| Fixed assets | 21/28 | €51,986 | €40,011 | -€11,975 | -23.0% |
| Tangible fixed assets | 22/27 | €51,986 | €40,011 | -€11,975 | -23.0% |
| Plant, machinery and equipment | 23 | €1,895 | €1,469 | -€426 | -22.5% |
| Furniture and vehicles | 24 | €50,091 | €38,542 | -€11,549 | -23.1% |
| Current assets | 29/58 | €49,012 | €94,246 | +€45,234 | +92.3% |
| Amounts receivable within one year | 40/41 | €34,881 | €56,944 | +€22,063 | +63.3% |
| Trade receivables | 40 | €34,880 | €56,923 | +€22,043 | +63.2% |
| Other amounts receivable | 41 | €1 | €21 | +€20 | +1549.6% |
| Cash at bank and in hand | 54/58 | €13,468 | €36,596 | +€23,128 | +171.7% |
| Deferred charges and accrued income | 490/1 | €663 | €706 | +€43 | +6.5% |
| Total equity and liabilities | 10/49 | €100,998 | €134,257 | +€33,259 | +32.9% |
| Equity | 10/15 | €18,995 | €55,981 | +€36,986 | +194.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €18,994 | €55,980 | +€36,986 | +194.7% |
| Distributable reserves | 133 | €18,994 | €55,980 | +€36,986 | +194.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €82,003 | €78,276 | -€3,727 | -4.5% |
| Amounts payable after more than one year | 17 | €35,723 | €25,778 | -€9,945 | -27.8% |
| Financial debts | 170/4 | €35,723 | €25,778 | -€9,945 | -27.8% |
| Amounts payable within one year | 42/48 | €46,123 | €52,374 | +€6,250 | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €10,325 | €10,755 | +€430 | +4.2% |
| Trade debts | 44 | €54 | €2,265 | +€2,211 | +4079.1% |
| Suppliers | 440/4 | €54 | €2,265 | +€2,211 | +4079.1% |
| Taxes, remuneration and social security | 45 | €13,706 | €19,482 | +€5,777 | +42.1% |
| Taxes | 450/3 | €13,706 | €19,482 | +€5,777 | +42.1% |
| Other amounts payable | 47/48 | €22,039 | €19,871 | -€2,168 | -9.8% |
| Accrued charges and deferred income | 492/3 | €157 | €125 | -€32 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,184 | €11,975 | +€4,791 | +66.7% |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €32,550 | €63,076 | +€30,526 | +93.8% |
| Operating profit (loss) | 9901 | €25,367 | €50,973 | +€25,606 | +100.9% |
| Financial income | 75/76B | €14 | €0 | -€14 | -100.0% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -100.0% |
| Financial charges | 65/66B | €1,169 | €3,079 | +€1,910 | +163.4% |
| Recurring financial charges | 65 | €1,169 | €3,079 | +€1,910 | +163.4% |
| Profit (loss) for the period before taxes | 9903 | €24,212 | €47,894 | +€23,682 | +97.8% |
| Income taxes | 67/77 | €5,218 | €10,075 | +€4,857 | +93.1% |
| Profit (loss) for the period | 9904 | €18,994 | €37,819 | +€18,825 | +99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,994 | €37,819 | +€18,825 | +99.1% |
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 10 October 2026 via checked.be.