THOMAS PIENS: 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 PIENS
Largest movements
- Tangible fixed assets +€41,322
up €41,322 (+341%), from €12,102 to €53,425
of which Furniture and vehicles: +€41,291
- Receivables within one year +€24,518
up €24,518 (+284%), from €8,623 to €33,141
of which Other amounts receivable: +€23,498
- Cash +€10,225
up €10,225 (+20,607%), from €50 to €10,275
mainly Debts after one year (+€50,343) and Net result for the year (+€14,419)
- Debts after one year +€50,343
new in 2025: €50,343
- Reserves +€13,560
up €13,560 (+96.3%), from €14,075 to €27,634
- Current portion of long-term debt +€7,192
new in 2025: €7,192
- Tax, wage and social debts +€3,919
up €3,919 (+6,157%), from €64 to €3,982
- Trade debts +€2,608
up €2,608 (+103%), from €2,541 to €5,149
- Gross operating margin -€4,357
down €4,357 (-13.0%), from €33,465 to €29,107
- Depreciation -€3,842
down €3,842 (-29.4%), from €13,064 to €9,222
- Financial charges +€1,151
up €1,151 (+355%), from €324 to €1,475
- Taxes -€432
down €432 (-10.2%), from €4,245 to €3,813
- Financial income +€367
up €367 (+3,674,400%), from €0 to €367
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 | €21,245 | €97,227 | +€75,982 | +358% |
| Fixed assets | 21/28 | €12,102 | €53,425 | +€41,322 | +341% |
| Tangible fixed assets | 22/27 | €12,102 | €53,425 | +€41,322 | +341% |
| Plant, machinery and equipment | 23 | €2,156 | €2,188 | +€31 | +1.5% |
| Furniture and vehicles | 24 | €9,946 | €51,237 | +€41,291 | +415% |
| Current assets | 29/58 | €9,143 | €43,802 | +€34,660 | +379% |
| Amounts receivable within one year | 40/41 | €8,623 | €33,141 | +€24,518 | +284% |
| Trade receivables | 40 | €6,949 | €7,969 | +€1,020 | +14.7% |
| Other amounts receivable | 41 | €1,674 | €25,172 | +€23,498 | +1,403% |
| Cash at bank and in hand | 54/58 | €50 | €10,275 | +€10,225 | +20,607% |
| Deferred charges and accrued income | 490/1 | €470 | €387 | -€84 | -17.8% |
| Total equity and liabilities | 10/49 | €21,245 | €97,227 | +€75,982 | +358% |
| Equity | 10/15 | €16,075 | €29,634 | +€13,560 | +84.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €14,075 | €27,634 | +€13,560 | +96.3% |
| Distributable reserves | 133 | €14,075 | €27,634 | +€13,560 | +96.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,171 | €67,593 | +€62,422 | +1,207% |
| Amounts payable after more than one year | 17 | - | €50,343 | +€50,343 | |
| Financial debts | 170/4 | - | €50,343 | +€50,343 | |
| Amounts payable within one year | 42/48 | €5,105 | €17,182 | +€12,078 | +237% |
| Current portion of amounts payable after more than one year | 42 | - | €7,192 | +€7,192 | |
| Trade debts | 44 | €2,541 | €5,149 | +€2,608 | +103% |
| Suppliers | 440/4 | €2,541 | €5,149 | +€2,608 | +103% |
| Taxes, remuneration and social security | 45 | €64 | €3,982 | +€3,919 | +6,157% |
| Taxes | 450/3 | €64 | €3,982 | +€3,919 | +6,157% |
| Other amounts payable | 47/48 | €2,500 | €859 | -€1,641 | -65.6% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,064 | €9,222 | -€3,842 | -29.4% |
| Other operating charges | 640/8 | €899 | €546 | -€353 | -39.2% |
| Gross operating margin | 9900 | €33,465 | €29,107 | -€4,357 | -13.0% |
| Operating profit (loss) | 9901 | €19,502 | €19,339 | -€163 | -0.8% |
| Financial income | 75/76B | €0 | €367 | +€367 | +3,674,400% |
| Recurring financial income | 75 | €0 | €367 | +€367 | +3,674,400% |
| Financial charges | 65/66B | €324 | €1,475 | +€1,151 | +355% |
| Recurring financial charges | 65 | €324 | €1,475 | +€1,151 | +355% |
| Profit (loss) for the period before taxes | 9903 | €19,179 | €18,232 | -€946 | -4.9% |
| Income taxes | 67/77 | €4,245 | €3,813 | -€432 | -10.2% |
| Profit (loss) for the period | 9904 | €14,934 | €14,419 | -€515 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,934 | €14,419 | -€515 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.