Thomas: 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.
Thomas
Largest movements
- Cash +€23,399
up €23,399 (+96.4%), from €24,265 to €47,664
mainly Depreciation (+€30,716) and Net result for the year (+€21,367)
- Tangible fixed assets -€14,758
down €14,758 (-8.9%), from €165,555 to €150,797
of which Leasing and similar rights: -€9,545
- Debts after one year -€22,839
down €22,839 (-11.1%), from €205,889 to €183,050
of which Financial debts: -€22,839
- Profit (loss) carried forward +€21,367
up €21,367 (+10.1%), from -€211,641 to -€190,274
- Tax, wage and social debts +€6,858
up €6,858 (+524.3%), from €1,308 to €8,166
- Accrued charges and deferred income -€6,440
down €6,440 (-89.2%), from €7,217 to €777
- Advances received +€3,068
new in 2025: €3,068
- Depreciation -€13,393
down €13,393 (-30.4%), from €44,109 to €30,716
- Gross operating margin -€8,266
down €8,266 (-11.1%), from €74,181 to €65,916
- Financial charges +€3,027
up €3,027 (+53.0%), from €5,708 to €8,735
- Other operating charges -€1,856
down €1,856 (-26.7%), from €6,947 to €5,091
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 | €199,983 | €205,953 | +€5,971 | +3.0% |
| Fixed assets | 21/28 | €165,605 | €150,847 | -€14,758 | -8.9% |
| Tangible fixed assets | 22/27 | €165,555 | €150,797 | -€14,758 | -8.9% |
| Land and buildings | 22 | €119,937 | €117,026 | -€2,911 | -2.4% |
| Plant, machinery and equipment | 23 | €7,610 | €5,682 | -€1,928 | -25.3% |
| Furniture and vehicles | 24 | €1,025 | €652 | -€374 | -36.5% |
| Leasing and similar rights | 25 | €36,983 | €27,438 | -€9,545 | -25.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €34,378 | €55,106 | +€20,729 | +60.3% |
| Stocks and contracts in progress | 3 | €3,251 | €1,615 | -€1,636 | -50.3% |
| Stocks | 30/36 | €3,251 | €1,615 | -€1,636 | -50.3% |
| Amounts receivable within one year | 40/41 | €569 | €1,153 | +€584 | +102.6% |
| Trade receivables | 40 | €0 | €520 | +€520 | |
| Other amounts receivable | 41 | €569 | €633 | +€64 | +11.3% |
| Cash at bank and in hand | 54/58 | €24,265 | €47,664 | +€23,399 | +96.4% |
| Deferred charges and accrued income | 490/1 | €6,293 | €4,674 | -€1,619 | -25.7% |
| Total equity and liabilities | 10/49 | €199,983 | €205,953 | +€5,971 | +3.0% |
| Equity | 10/15 | -€41,181 | -€19,814 | +€21,367 | +51.9% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,641 | -€190,274 | +€21,367 | +10.1% |
| Amounts payable | 17/49 | €241,163 | €225,767 | -€15,396 | -6.4% |
| Amounts payable after more than one year | 17 | €205,889 | €183,050 | -€22,839 | -11.1% |
| Financial debts | 170/4 | €125,889 | €103,050 | -€22,839 | -18.1% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €28,057 | €41,941 | +€13,883 | +49.5% |
| Current portion of amounts payable after more than one year | 42 | €20,838 | €22,839 | +€2,001 | +9.6% |
| Trade debts | 44 | €2,589 | €4,767 | +€2,178 | +84.1% |
| Suppliers | 440/4 | €2,589 | €4,767 | +€2,178 | +84.1% |
| Advances received on contracts in progress | 46 | - | €3,068 | +€3,068 | |
| Taxes, remuneration and social security | 45 | €1,308 | €8,166 | +€6,858 | +524.3% |
| Taxes | 450/3 | €1,308 | €8,166 | +€6,858 | +524.3% |
| Other amounts payable | 47/48 | €3,322 | €3,101 | -€222 | -6.7% |
| Accrued charges and deferred income | 492/3 | €7,217 | €777 | -€6,440 | -89.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,109 | €30,716 | -€13,393 | -30.4% |
| Other operating charges | 640/8 | €6,947 | €5,091 | -€1,856 | -26.7% |
| Gross operating margin | 9900 | €74,181 | €65,916 | -€8,266 | -11.1% |
| Operating profit (loss) | 9901 | €23,125 | €30,108 | +€6,983 | +30.2% |
| Financial income | 75/76B | €54 | €139 | +€85 | +156.7% |
| Recurring financial income | 75 | €54 | €139 | +€85 | +156.7% |
| Financial charges | 65/66B | €5,708 | €8,735 | +€3,027 | +53.0% |
| Recurring financial charges | 65 | €5,708 | €8,735 | +€3,027 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €17,471 | €21,512 | +€4,041 | +23.1% |
| Income taxes | 67/77 | €359 | €146 | -€213 | -59.4% |
| Profit (loss) for the period | 9904 | €17,113 | €21,367 | +€4,254 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,113 | €21,367 | +€4,254 | +24.9% |
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 12 October 2026 via checked.be.