Tholero: 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.
Tholero
Largest movements
- Receivables within one year -€13,339
down €13,339 (-80.0%), from €16,666 to €3,327
of which Trade receivables: -€12,865
- Deferred charges and accrued income -€6,668
down €6,668 (-29.5%), from €22,569 to €15,900
- Cash +€3,450
up €3,450 (+8.5%), from €40,460 to €43,909
mainly Receivables within one year (+€13,339) and Deferred charges and accrued income (+€6,668)
- Tangible fixed assets -€1,171
down €1,171 (-25.0%), from €4,681 to €3,510
of which Plant, machinery and equipment: -€1,093
- Profit (loss) carried forward -€13,684
down €13,684 (-57.1%), from €23,950 to €10,266
- Other debts -€2,763
down €2,763 (-83.9%), from €3,292 to €529
- Gross operating margin -€27,017
down €27,017, from €18,612 to -€8,405
- Taxes -€3,041
down €3,041 (-61.6%), from €4,934 to €1,893
- Depreciation +€682
up €682 (+139.5%), from €489 to €1,171
- Other operating charges +€512
up €512 (+78.1%), from €656 to €1,169
- Financial charges +€410
up €410 (+63.6%), from €645 to €1,055
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 | €84,376 | €66,647 | -€17,729 | -21.0% |
| Fixed assets | 21/28 | €4,681 | €3,510 | -€1,171 | -25.0% |
| Tangible fixed assets | 22/27 | €4,681 | €3,510 | -€1,171 | -25.0% |
| Plant, machinery and equipment | 23 | €4,604 | €3,510 | -€1,093 | -23.8% |
| Furniture and vehicles | 24 | €78 | €0 | -€78 | -100.0% |
| Current assets | 29/58 | €79,694 | €63,137 | -€16,558 | -20.8% |
| Amounts receivable within one year | 40/41 | €16,666 | €3,327 | -€13,339 | -80.0% |
| Trade receivables | 40 | €15,970 | €3,105 | -€12,865 | -80.6% |
| Other amounts receivable | 41 | €696 | €222 | -€474 | -68.1% |
| Cash at bank and in hand | 54/58 | €40,460 | €43,909 | +€3,450 | +8.5% |
| Deferred charges and accrued income | 490/1 | €22,569 | €15,900 | -€6,668 | -29.5% |
| Total equity and liabilities | 10/49 | €84,376 | €66,647 | -€17,729 | -21.0% |
| Equity | 10/15 | €74,950 | €61,266 | -€13,684 | -18.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,000 | €46,000 | = | 0.0% |
| Distributable reserves | 133 | €46,000 | €46,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,950 | €10,266 | -€13,684 | -57.1% |
| Amounts payable | 17/49 | €9,425 | €5,381 | -€4,045 | -42.9% |
| Amounts payable within one year | 42/48 | €9,425 | €5,381 | -€4,045 | -42.9% |
| Trade debts | 44 | €3,487 | €2,934 | -€554 | -15.9% |
| Suppliers | 440/4 | €3,487 | €2,934 | -€554 | -15.9% |
| Taxes, remuneration and social security | 45 | €2,646 | €1,918 | -€728 | -27.5% |
| Taxes | 450/3 | €2,646 | €1,918 | -€728 | -27.5% |
| Other amounts payable | 47/48 | €3,292 | €529 | -€2,763 | -83.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489 | €1,171 | +€682 | +139.5% |
| Other operating charges | 640/8 | €656 | €1,169 | +€512 | +78.1% |
| Gross operating margin | 9900 | €18,612 | -€8,405 | -€27,017 | |
| Operating profit (loss) | 9901 | €17,466 | -€10,745 | -€28,211 | |
| Financial income | 75/76B | €71 | €9 | -€62 | -87.3% |
| Recurring financial income | 75 | €71 | €9 | -€62 | -87.3% |
| Financial charges | 65/66B | €645 | €1,055 | +€410 | +63.6% |
| Recurring financial charges | 65 | €645 | €1,055 | +€410 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €16,892 | -€11,791 | -€28,683 | |
| Income taxes | 67/77 | €4,934 | €1,893 | -€3,041 | -61.6% |
| Profit (loss) for the period | 9904 | €11,958 | -€13,684 | -€25,643 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,958 | -€13,684 | -€25,643 |
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 9 October 2026 via checked.be.