THOMAS NEYT: 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 NEYT
Largest movements
- Cash +€59,586
up €59,586 (+151.3%), from €39,373 to €98,959
mainly Net result for the year (+€72,728) and Depreciation (+€21,472)
- Receivables within one year -€3,798
down €3,798 (-19.2%), from €19,787 to €15,989
- Tangible fixed assets +€2,924
up €2,924 (+3.6%), from €81,438 to €84,362
of which Other tangible fixed assets: +€2,751
- Reserves +€50,000
up €50,000 (+166.7%), from €30,000 to €80,000
- Profit (loss) carried forward +€22,728
up €22,728 (+55.2%), from €41,208 to €63,936
- Current portion of long-term debt -€11,906
down €11,906 (-47.8%), from €24,915 to €13,009
- Tax, wage and social debts +€2,696
up €2,696 (+158.0%), from €1,706 to €4,402
- Other debts -€2,620
down €2,620 (-61.6%), from €4,254 to €1,634
- Gross operating margin +€7,661
up €7,661 (+6.5%), from €117,284 to €124,945
- Taxes +€4,154
up €4,154 (+18.2%), from €22,783 to €26,937
- Depreciation +€2,332
up €2,332 (+12.2%), from €19,140 to €21,472
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 | €140,940 | €200,522 | +€59,582 | +42.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €81,438 | €84,362 | +€2,924 | +3.6% |
| Tangible fixed assets | 22/27 | €81,438 | €84,362 | +€2,924 | +3.6% |
| Furniture and vehicles | 24 | €66,880 | €67,053 | +€173 | +0.3% |
| Other tangible fixed assets | 26 | €14,558 | €17,309 | +€2,751 | +18.9% |
| Current assets | 29/58 | €59,502 | €116,160 | +€56,658 | +95.2% |
| Amounts receivable within one year | 40/41 | €19,787 | €15,989 | -€3,798 | -19.2% |
| Trade receivables | 40 | €19,787 | €15,989 | -€3,798 | -19.2% |
| Cash at bank and in hand | 54/58 | €39,373 | €98,959 | +€59,586 | +151.3% |
| Deferred charges and accrued income | 490/1 | €342 | €1,212 | +€870 | +254.4% |
| Total equity and liabilities | 10/49 | €140,940 | €200,522 | +€59,582 | +42.3% |
| Equity | 10/15 | €81,208 | €153,936 | +€72,728 | +89.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | - | -€10,000 | |
| Issued capital | 100 | €10,000 | - | -€10,000 | |
| Reserves | 13 | €30,000 | €80,000 | +€50,000 | +166.7% |
| Distributable reserves | 133 | €30,000 | €80,000 | +€50,000 | +166.7% |
| Profit (loss) carried forward | 14 | €41,208 | €63,936 | +€22,728 | +55.2% |
| Amounts payable | 17/49 | €59,732 | €46,586 | -€13,146 | -22.0% |
| Amounts payable after more than one year | 17 | €28,092 | €27,541 | -€551 | -2.0% |
| Financial debts | 170/4 | €28,092 | €27,541 | -€551 | -2.0% |
| Amounts payable within one year | 42/48 | €31,640 | €19,045 | -€12,595 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €24,915 | €13,009 | -€11,906 | -47.8% |
| Trade debts | 44 | €765 | - | -€765 | |
| Suppliers | 440/4 | €765 | - | -€765 | |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €1,706 | €4,402 | +€2,696 | +158.0% |
| Taxes | 450/3 | €1,706 | €4,402 | +€2,696 | +158.0% |
| Other amounts payable | 47/48 | €4,254 | €1,634 | -€2,620 | -61.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,140 | €21,472 | +€2,332 | +12.2% |
| Other operating charges | 640/8 | €1,228 | €1,536 | +€308 | +25.1% |
| Gross operating margin | 9900 | €117,284 | €124,945 | +€7,661 | +6.5% |
| Operating profit (loss) | 9901 | €96,916 | €101,937 | +€5,021 | +5.2% |
| Financial charges | 65/66B | €2,925 | €2,272 | -€653 | -22.3% |
| Recurring financial charges | 65 | €2,925 | €2,272 | -€653 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €93,991 | €99,665 | +€5,674 | +6.0% |
| Income taxes | 67/77 | €22,783 | €26,937 | +€4,154 | +18.2% |
| Profit (loss) for the period | 9904 | €71,208 | €72,728 | +€1,520 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,208 | €72,728 | +€1,520 | +2.1% |
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 1 October 2026 via checked.be.