THOLFINN: what changed
Two fiscal 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.
THOLFINN
Largest movements
- Current investments +€202,557
up €202,557 (+81.0%), from €250,000 to €452,557
- Cash -€38,129
down €38,129 (-45.5%), from €83,790 to €45,661
mainly Contributions, distributions and other (-€227,500) and Current investments (-€202,557)
- Receivables within one year +€9,302
up €9,302, from €0 to €9,302
of which Other amounts receivable: +€9,302
- Debts after one year +€106,250
new in 2025: €106,250
- Other debts +€102,500
up €102,500 (+82.0%), from €125,000 to €227,500
- Tax, wage and social debts -€46,198
down €46,198 (-72.2%), from €63,961 to €17,763
of which Taxes: -€46,948
- Reserves +€9,194
up €9,194 (+6.6%), from €139,900 to €149,094
- Gross operating margin +€101,313
up €101,313 (+49.1%), from €206,219 to €307,532
- Taxes +€25,655
up €25,655 (+54.7%), from €46,914 to €72,569
- Financial income +€6,942
new in 2025: €6,942
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 | €333,790 | €507,520 | +€173,729 | +52.0% |
| Current assets | 29/58 | €333,790 | €507,520 | +€173,729 | +52.0% |
| Amounts receivable within one year | 40/41 | €0 | €9,302 | +€9,302 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €9,302 | +€9,302 | |
| Current investments | 50/53 | €250,000 | €452,557 | +€202,557 | +81.0% |
| Cash at bank and in hand | 54/58 | €83,790 | €45,661 | -€38,129 | -45.5% |
| Total equity and liabilities | 10/49 | €333,790 | €507,520 | +€173,729 | +52.0% |
| Equity | 10/15 | €142,900 | €152,094 | +€9,194 | +6.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €139,900 | €149,094 | +€9,194 | +6.6% |
| Distributable reserves | 133 | €139,900 | €149,094 | +€9,194 | +6.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €190,890 | €355,425 | +€164,535 | +86.2% |
| Amounts payable after more than one year | 17 | - | €106,250 | +€106,250 | |
| Financial debts | 170/4 | - | €106,250 | +€106,250 | |
| Amounts payable within one year | 42/48 | €190,140 | €245,414 | +€55,274 | +29.1% |
| Trade debts | 44 | €1,180 | €151 | -€1,029 | -87.2% |
| Suppliers | 440/4 | €1,180 | €151 | -€1,029 | -87.2% |
| Taxes, remuneration and social security | 45 | €63,961 | €17,763 | -€46,198 | -72.2% |
| Taxes | 450/3 | €56,461 | €9,513 | -€46,948 | -83.2% |
| Remuneration and social security | 454/9 | €7,500 | €8,250 | +€750 | +10.0% |
| Other amounts payable | 47/48 | €125,000 | €227,500 | +€102,500 | +82.0% |
| Accrued charges and deferred income | 492/3 | €750 | €3,761 | +€3,011 | +401.5% |
| Other operating charges | 640/8 | €341 | €244 | -€96 | -28.3% |
| Gross operating margin | 9900 | €206,219 | €307,532 | +€101,313 | +49.1% |
| Operating profit (loss) | 9901 | €205,879 | €307,288 | +€101,409 | +49.3% |
| Financial income | 75/76B | - | €6,942 | +€6,942 | |
| Recurring financial income | 75 | - | €6,942 | +€6,942 | |
| Financial charges | 65/66B | €4,713 | €4,967 | +€253 | +5.4% |
| Recurring financial charges | 65 | €4,713 | €4,967 | +€253 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €201,165 | €309,263 | +€108,098 | +53.7% |
| Income taxes | 67/77 | €46,914 | €72,569 | +€25,655 | +54.7% |
| Profit (loss) for the period | 9904 | €154,251 | €236,694 | +€82,443 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €154,251 | €236,694 | +€82,443 | +53.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.