Thomas Faes: 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 Faes
Largest movements
- Receivables within one year -€10,130
down €10,130 (-79.1%), from €12,809 to €2,679
of which Trade receivables: -€10,626
- Cash +€5,713
up €5,713 (+46.0%), from €12,408 to €18,121
mainly Receivables within one year (+€10,130) and Trade debts (+€5,027)
- Formation expenses -€1,124
down €1,124 (-100.0%), from €1,124 to €0
- Deferred charges and accrued income +€651
new in 2025: €651
- Other debts -€6,643
down €6,643 (-100.0%), from €6,643 to €0
- Trade debts +€5,027
up €5,027 (+3596.9%), from €140 to €5,167
- Tax, wage and social debts -€3,643
down €3,643 (-80.7%), from €4,516 to €873
- Profit (loss) carried forward +€370
up €370 (+3.1%), from €12,042 to €12,411
- Gross operating margin -€11,836
down €11,836 (-67.1%), from €17,638 to €5,802
- Taxes -€3,643
down €3,643 (-80.7%), from €4,516 to €873
- Financial charges +€3,035
up €3,035 (+8093.1%), from €38 to €3,072
- Depreciation +€573
up €573 (+104.2%), from €551 to €1,124
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 | €26,340 | €21,451 | -€4,889 | -18.6% |
| Formation expenses | 20 | €1,124 | €0 | -€1,124 | -100.0% |
| Current assets | 29/58 | €25,216 | €21,451 | -€3,765 | -14.9% |
| Amounts receivable within one year | 40/41 | €12,809 | €2,679 | -€10,130 | -79.1% |
| Trade receivables | 40 | €12,809 | €2,183 | -€10,626 | -83.0% |
| Other amounts receivable | 41 | - | €496 | +€496 | |
| Cash at bank and in hand | 54/58 | €12,408 | €18,121 | +€5,713 | +46.0% |
| Deferred charges and accrued income | 490/1 | - | €651 | +€651 | |
| Total equity and liabilities | 10/49 | €26,340 | €21,451 | -€4,889 | -18.6% |
| Equity | 10/15 | €15,042 | €15,411 | +€370 | +2.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,042 | €12,411 | +€370 | +3.1% |
| Amounts payable | 17/49 | €11,299 | €6,040 | -€5,259 | -46.5% |
| Amounts payable within one year | 42/48 | €11,299 | €6,040 | -€5,259 | -46.5% |
| Trade debts | 44 | €140 | €5,167 | +€5,027 | +3596.9% |
| Suppliers | 440/4 | €140 | €5,167 | +€5,027 | +3596.9% |
| Taxes, remuneration and social security | 45 | €4,516 | €873 | -€3,643 | -80.7% |
| Taxes | 450/3 | €4,516 | €873 | -€3,643 | -80.7% |
| Other amounts payable | 47/48 | €6,643 | €0 | -€6,643 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €551 | €1,124 | +€573 | +104.2% |
| Other operating charges | 640/8 | €493 | €364 | -€129 | -26.2% |
| Gross operating margin | 9900 | €17,638 | €5,802 | -€11,836 | -67.1% |
| Operating profit (loss) | 9901 | €16,595 | €4,315 | -€12,280 | -74.0% |
| Financial charges | 65/66B | €38 | €3,072 | +€3,035 | +8093.1% |
| Recurring financial charges | 65 | €38 | €3,072 | +€3,035 | +8093.1% |
| Profit (loss) for the period before taxes | 9903 | €16,557 | €1,242 | -€15,315 | -92.5% |
| Income taxes | 67/77 | €4,516 | €873 | -€3,643 | -80.7% |
| Profit (loss) for the period | 9904 | €12,042 | €370 | -€11,672 | -96.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,042 | €370 | -€11,672 | -96.9% |
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 11 October 2026 via checked.be.