THOFAN: 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.
THOFAN
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€81,244
down €81,244 (-97.6%), from €83,244 to €2,000
- Depreciation -€15,992
no longer reported in 2025 (was €15,992)
- Financial charges -€11,380
no longer reported in 2025 (was €11,380)
of which Non-recurring financial charges: -€5,976
- Financial income -€7,550
no longer reported in 2025 (was €7,550)
- Taxes -€6,541
no longer reported in 2025 (was €6,541)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €394,918 | €394,918 | = | 0.0% |
| Fixed assets | 21/28 | €19,420 | €19,420 | = | 0.0% |
| Tangible fixed assets | 22/27 | €19,420 | €19,420 | = | 0.0% |
| Land and buildings | 22 | €9,917 | €19,420 | +€9,503 | +95.8% |
| Plant, machinery and equipment | 23 | €7,696 | - | -€7,696 | |
| Furniture and vehicles | 24 | €1,807 | - | -€1,807 | |
| Current assets | 29/58 | €375,499 | €375,499 | = | 0.0% |
| Amounts receivable after more than one year | 29 | €290,000 | €290,000 | = | 0.0% |
| Other amounts receivable | 291 | €290,000 | €290,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €85,499 | €85,499 | = | 0.0% |
| Trade receivables | 40 | €20,907 | €85,499 | +€64,592 | +309.0% |
| Other amounts receivable | 41 | €64,592 | - | -€64,592 | |
| Total equity and liabilities | 10/49 | €394,918 | €394,918 | = | 0.0% |
| Equity | 10/15 | €232,095 | €234,095 | +€2,000 | +0.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €267 | €267 | = | 0.0% |
| Non-distributable reserves | 130/1 | €267 | €267 | = | 0.0% |
| Reserves not available under the articles | 1311 | €267 | €267 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,627 | €227,627 | +€2,000 | +0.9% |
| Amounts payable | 17/49 | €162,823 | €160,823 | -€2,000 | -1.2% |
| Amounts payable after more than one year | 17 | €101,558 | €101,558 | = | 0.0% |
| Financial debts | 170/4 | €101,558 | €101,558 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,265 | €59,265 | -€2,000 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €39,267 | €39,267 | = | 0.0% |
| Trade debts | 44 | €7,884 | €7,884 | = | 0.0% |
| Suppliers | 440/4 | €7,884 | €7,884 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,827 | €10,827 | = | 0.0% |
| Taxes | 450/3 | €10,827 | €10,827 | = | 0.0% |
| Other amounts payable | 47/48 | €3,287 | €1,287 | -€2,000 | -60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,992 | - | -€15,992 | |
| Other operating charges | 640/8 | €2,869 | - | -€2,869 | |
| Gross operating margin | 9900 | €83,244 | €2,000 | -€81,244 | -97.6% |
| Operating profit (loss) | 9901 | €64,384 | €2,000 | -€62,384 | -96.9% |
| Financial income | 75/76B | €7,550 | - | -€7,550 | |
| Recurring financial income | 75 | €7,550 | - | -€7,550 | |
| Financial charges | 65/66B | €11,380 | - | -€11,380 | |
| Recurring financial charges | 65 | €5,404 | - | -€5,404 | |
| Non-recurring financial charges | 66B | €5,976 | - | -€5,976 | |
| Profit (loss) for the period before taxes | 9903 | €60,554 | €2,000 | -€58,554 | -96.7% |
| Income taxes | 67/77 | €6,541 | - | -€6,541 | |
| Profit (loss) for the period | 9904 | €54,013 | €2,000 | -€52,013 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,013 | €2,000 | -€52,013 | -96.3% |
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.