Thog: what changed
Thog
Largest movements
- Cash +€54,846
up €54,846 (+193%), from €28,418 to €83,264
mainly Net result for the year (+€52,861) and Other debts (+€18,600)
- Tangible fixed assets +€3,858
new in 2025: €3,858
- Reserves +€34,261
up €34,261 (+116%), from €29,547 to €63,808
- Other debts +€18,600
up €18,600 (+7,519%), from €247 to €18,847
- Tax, wage and social debts +€4,515
up €4,515 (+111%), from €4,062 to €8,576
of which Taxes: +€2,384
- Accrued charges and deferred income +€1,100
new in 2025: €1,100
- Gross operating margin +€19,576
up €19,576 (+45.7%), from €42,797 to €62,373
- Taxes -€2,495
down €2,495 (-22.4%), from €11,125 to €8,630
- Depreciation -€703
down €703 (-56.2%), from €1,250 to €548
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 | €38,505 | €97,270 | +€58,766 | +153% |
| Fixed assets | 21/28 | - | €3,858 | +€3,858 | |
| Tangible fixed assets | 22/27 | - | €3,858 | +€3,858 | |
| Furniture and vehicles | 24 | - | €3,858 | +€3,858 | |
| Current assets | 29/58 | €38,505 | €93,412 | +€54,907 | +143% |
| Amounts receivable within one year | 40/41 | €10,087 | €10,148 | +€61 | +0.6% |
| Trade receivables | 40 | €9,157 | €9,218 | +€61 | +0.7% |
| Other amounts receivable | 41 | €930 | €930 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,418 | €83,264 | +€54,846 | +193% |
| Total equity and liabilities | 10/49 | €38,505 | €97,270 | +€58,766 | +153% |
| Equity | 10/15 | €32,547 | €66,808 | +€34,261 | +105% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €29,547 | €63,808 | +€34,261 | +116% |
| Distributable reserves | 133 | €29,547 | €63,808 | +€34,261 | +116% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €5,958 | €30,462 | +€24,505 | +411% |
| Amounts payable within one year | 42/48 | €5,958 | €29,362 | +€23,405 | +393% |
| Trade debts | 44 | €1,649 | €1,939 | +€290 | +17.6% |
| Suppliers | 440/4 | €1,649 | €1,939 | +€290 | +17.6% |
| Taxes, remuneration and social security | 45 | €4,062 | €8,576 | +€4,515 | +111% |
| Taxes | 450/3 | €4,062 | €6,446 | +€2,384 | +58.7% |
| Remuneration and social security | 454/9 | - | €2,131 | +€2,131 | |
| Other amounts payable | 47/48 | €247 | €18,847 | +€18,600 | +7,519% |
| Accrued charges and deferred income | 492/3 | - | €1,100 | +€1,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,250 | €548 | -€703 | -56.2% |
| Other operating charges | 640/8 | €552 | €587 | +€35 | +6.3% |
| Gross operating margin | 9900 | €42,797 | €62,373 | +€19,576 | +45.7% |
| Operating profit (loss) | 9901 | €40,995 | €61,238 | +€20,243 | +49.4% |
| Financial income | 75/76B | - | €300 | +€300 | |
| Recurring financial income | 75 | - | €300 | +€300 | |
| Financial charges | 65/66B | €323 | €47 | -€276 | -85.5% |
| Recurring financial charges | 65 | €323 | €47 | -€276 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | €40,672 | €61,491 | +€20,819 | +51.2% |
| Income taxes | 67/77 | €11,125 | €8,630 | -€2,495 | -22.4% |
| Profit (loss) for the period | 9904 | €29,547 | €52,861 | +€23,314 | +78.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,547 | €52,861 | +€23,314 | +78.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.