THOMAS MANAGEMENT TEAM: 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 MANAGEMENT TEAM
Largest movements
- Cash +€20,858
up €20,858 (+999%), from €2,089 to €22,947
mainly Trade debts (+€29,816) and Net result for the year (+€15,644)
- Receivables within one year +€12,891
up €12,891 (+186%), from €6,946 to €19,837
of which Trade receivables: +€8,263
- Tangible fixed assets -€11,036
down €11,036 (-49.8%), from €22,179 to €11,143
of which Plant, machinery and equipment: -€10,754
- Deferred charges and accrued income -€1,191
down €1,191 (-54.1%), from €2,202 to €1,011
- Trade debts +€29,816
up €29,816 (+8,457%), from €353 to €30,169
- Reserves -€7,556
down €7,556 (-14.6%), from €51,813 to €44,256
- Gross operating margin -€1,394
down €1,394 (-4.5%), from €30,951 to €29,557
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.
Derived cash bridge
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 | €74,615 | €96,139 | +€21,523 | +28.8% |
| Fixed assets | 21/28 | €63,379 | €52,343 | -€11,036 | -17.4% |
| Tangible fixed assets | 22/27 | €22,179 | €11,143 | -€11,036 | -49.8% |
| Plant, machinery and equipment | 23 | €21,690 | €10,936 | -€10,754 | -49.6% |
| Furniture and vehicles | 24 | €489 | €208 | -€281 | -57.5% |
| Financial fixed assets | 28 | €41,200 | €41,200 | = | 0.0% |
| Current assets | 29/58 | €11,237 | €43,796 | +€32,559 | +290% |
| Amounts receivable within one year | 40/41 | €6,946 | €19,837 | +€12,891 | +186% |
| Trade receivables | 40 | €657 | €8,920 | +€8,263 | +1,258% |
| Other amounts receivable | 41 | €6,289 | €10,917 | +€4,628 | +73.6% |
| Cash at bank and in hand | 54/58 | €2,089 | €22,947 | +€20,858 | +999% |
| Deferred charges and accrued income | 490/1 | €2,202 | €1,011 | -€1,191 | -54.1% |
| Total equity and liabilities | 10/49 | €74,615 | €96,139 | +€21,523 | +28.8% |
| Equity | 10/15 | €70,413 | €62,856 | -€7,556 | -10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,813 | €44,256 | -€7,556 | -14.6% |
| Distributable reserves | 133 | €51,813 | €44,256 | -€7,556 | -14.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,203 | €33,282 | +€29,079 | +692% |
| Amounts payable within one year | 42/48 | €4,203 | €33,217 | +€29,014 | +690% |
| Trade debts | 44 | €353 | €30,169 | +€29,816 | +8,457% |
| Suppliers | 440/4 | €353 | €30,169 | +€29,816 | +8,457% |
| Taxes, remuneration and social security | 45 | €2,472 | €1,560 | -€912 | -36.9% |
| Taxes | 450/3 | €2,472 | €1,560 | -€912 | -36.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,378 | €1,488 | +€109 | +7.9% |
| Accrued charges and deferred income | 492/3 | - | €66 | +€66 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €299 | €0 | -€299 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,108 | €11,036 | -€72 | -0.7% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €30,951 | €29,557 | -€1,394 | -4.5% |
| Operating profit (loss) | 9901 | €19,030 | €17,993 | -€1,037 | -5.4% |
| Financial income | 75/76B | €186 | €308 | +€122 | +65.9% |
| Recurring financial income | 75 | €186 | €308 | +€122 | +65.9% |
| Financial charges | 65/66B | €904 | €1,097 | +€193 | +21.3% |
| Recurring financial charges | 65 | €904 | €1,097 | +€193 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €18,311 | €17,204 | -€1,107 | -6.0% |
| Income taxes | 67/77 | €1,710 | €1,560 | -€150 | -8.8% |
| Profit (loss) for the period | 9904 | €16,601 | €15,644 | -€957 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,601 | €15,644 | -€957 | -5.8% |
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 24 October 2026 via checked.be.