THOMAS G.: 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.
THOMAS G.
Largest movements
- Receivables within one year +€386,577
up €386,577 (+171.5%), from €225,457 to €612,034
of which Other amounts receivable: +€202,628
- Tangible fixed assets -€94,167
down €94,167 (-14.1%), from €665,688 to €571,521
of which Furniture and vehicles: -€66,379
- Cash +€64,642
up €64,642 (+104.7%), from €61,721 to €126,363
mainly Trade debts (+€177,966) and Depreciation (+€101,283)
- Trade debts +€177,966
up €177,966 (+1822.9%), from €9,763 to €187,729
- Debts after one year +€66,281
up €66,281 (+18.0%), from €369,021 to €435,302
- Other debts +€64,945
up €64,945 (+921.4%), from €7,048 to €71,993
- Tax, wage and social debts +€33,076
up €33,076 (+705.4%), from €4,689 to €37,765
of which Taxes: +€26,856
- Current portion of long-term debt +€23,037
up €23,037 (+27.2%), from €84,803 to €107,839
- Gross operating margin +€86,528
up €86,528 (+48.9%), from €176,880 to €263,408
- Staff costs +€48,801
up €48,801 (+2016.9%), from €2,420 to €51,221
- Depreciation +€11,693
up €11,693 (+13.1%), from €89,589 to €101,283
- Other operating charges -€11,467
down €11,467 (-67.6%), from €16,971 to €5,505
- Taxes +€10,263
up €10,263 (+52.1%), from €19,689 to €29,952
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 | €953,108 | €1,311,977 | +€358,869 | +37.7% |
| Fixed assets | 21/28 | €665,823 | €571,656 | -€94,167 | -14.1% |
| Tangible fixed assets | 22/27 | €665,688 | €571,521 | -€94,167 | -14.1% |
| Land and buildings | 22 | €525,374 | €516,765 | -€8,610 | -1.6% |
| Plant, machinery and equipment | 23 | €73,935 | €54,756 | -€19,179 | -25.9% |
| Furniture and vehicles | 24 | €66,379 | - | -€66,379 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €287,285 | €740,321 | +€453,037 | +157.7% |
| Amounts receivable within one year | 40/41 | €225,457 | €612,034 | +€386,577 | +171.5% |
| Trade receivables | 40 | €212,403 | €396,351 | +€183,948 | +86.6% |
| Other amounts receivable | 41 | €13,055 | €215,683 | +€202,628 | +1552.2% |
| Cash at bank and in hand | 54/58 | €61,721 | €126,363 | +€64,642 | +104.7% |
| Deferred charges and accrued income | 490/1 | €106 | €1,924 | +€1,818 | +1714.5% |
| Total equity and liabilities | 10/49 | €953,108 | €1,311,977 | +€358,869 | +37.7% |
| Equity | 10/15 | €477,784 | €468,482 | -€9,302 | -1.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €330,360 | €321,058 | -€9,302 | -2.8% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €290,360 | €281,058 | -€9,302 | -3.2% |
| Profit (loss) carried forward | 14 | €122,424 | €122,424 | = | 0.0% |
| Amounts payable | 17/49 | €475,324 | €843,495 | +€368,171 | +77.5% |
| Amounts payable after more than one year | 17 | €369,021 | €435,302 | +€66,281 | +18.0% |
| Financial debts | 170/4 | €369,021 | €435,302 | +€66,281 | +18.0% |
| Amounts payable within one year | 42/48 | €106,303 | €408,193 | +€301,890 | +284.0% |
| Current portion of amounts payable after more than one year | 42 | €84,803 | €107,839 | +€23,037 | +27.2% |
| Trade debts | 44 | €9,763 | €187,729 | +€177,966 | +1822.9% |
| Suppliers | 440/4 | €9,763 | €187,729 | +€177,966 | +1822.9% |
| Advances received on contracts in progress | 46 | - | €2,867 | +€2,867 | |
| Taxes, remuneration and social security | 45 | €4,689 | €37,765 | +€33,076 | +705.4% |
| Taxes | 450/3 | €4,689 | €31,545 | +€26,856 | +572.7% |
| Remuneration and social security | 454/9 | - | €6,221 | +€6,221 | |
| Other amounts payable | 47/48 | €7,048 | €71,993 | +€64,945 | +921.4% |
| Remuneration, social security and pensions | 62 | €2,420 | €51,221 | +€48,801 | +2016.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,589 | €101,283 | +€11,693 | +13.1% |
| Other operating charges | 640/8 | €16,971 | €5,505 | -€11,467 | -67.6% |
| Gross operating margin | 9900 | €176,880 | €263,408 | +€86,528 | +48.9% |
| Operating profit (loss) | 9901 | €67,899 | €105,400 | +€37,500 | +55.2% |
| Financial income | 75/76B | €5 | €71 | +€66 | +1201.1% |
| Recurring financial income | 75 | €5 | €71 | +€66 | +1201.1% |
| Financial charges | 65/66B | €12,341 | €13,372 | +€1,031 | +8.4% |
| Recurring financial charges | 65 | €12,341 | €13,372 | +€1,031 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €55,563 | €92,099 | +€36,535 | +65.8% |
| Income taxes | 67/77 | €19,689 | €29,952 | +€10,263 | +52.1% |
| Profit (loss) for the period | 9904 | €35,874 | €62,146 | +€26,272 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,874 | €62,146 | +€26,272 | +73.2% |
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 4 October 2026 via checked.be.