THOMAS TUTS: 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 TUTS
Largest movements
- Receivables within one year +€57,984
up €57,984 (+119.1%), from €48,668 to €106,651
of which Trade receivables: +€48,600
- Cash +€41,955
up €41,955 (+103.0%), from €40,751 to €82,706
mainly Net result for the year (+€92,016) and Receivables after one year (+€30,000)
- Receivables after one year -€30,000
down €30,000 (-100.0%), from €30,000 to €0
- Deferred charges and accrued income -€9,422
down €9,422 (-71.0%), from €13,278 to €3,856
- Tangible fixed assets -€8,803
down €8,803 (-3.2%), from €272,275 to €263,472
of which Land and buildings: -€6,726
- Reserves +€92,016
up €92,016 (+71.7%), from €128,320 to €220,336
- Other debts -€39,360
down €39,360 (-100.0%), from €39,360 to €0
- Tax, wage and social debts +€20,087
up €20,087 (+84.5%), from €23,769 to €43,856
of which Taxes: +€17,059
- Debts after one year -€10,775
down €10,775 (-6.3%), from €170,451 to €159,676
- Trade debts -€10,404
down €10,404 (-74.6%), from €13,942 to €3,538
- Gross operating margin +€54,505
up €54,505 (+59.2%), from €92,066 to €146,572
- Taxes +€20,657
up €20,657 (+116.5%), from €17,733 to €38,390
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 | €405,068 | €456,781 | +€51,713 | +12.8% |
| Fixed assets | 21/28 | €272,371 | €263,568 | -€8,803 | -3.2% |
| Tangible fixed assets | 22/27 | €272,275 | €263,472 | -€8,803 | -3.2% |
| Land and buildings | 22 | €254,443 | €247,717 | -€6,726 | -2.6% |
| Plant, machinery and equipment | 23 | €2,681 | €2,390 | -€291 | -10.9% |
| Furniture and vehicles | 24 | €15,151 | €13,365 | -€1,786 | -11.8% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €132,697 | €193,213 | +€60,516 | +45.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €0 | -€30,000 | -100.0% |
| Other amounts receivable | 291 | €30,000 | €0 | -€30,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €48,668 | €106,651 | +€57,984 | +119.1% |
| Trade receivables | 40 | €47,400 | €96,000 | +€48,600 | +102.5% |
| Other amounts receivable | 41 | €1,268 | €10,651 | +€9,384 | +740.3% |
| Cash at bank and in hand | 54/58 | €40,751 | €82,706 | +€41,955 | +103.0% |
| Deferred charges and accrued income | 490/1 | €13,278 | €3,856 | -€9,422 | -71.0% |
| Total equity and liabilities | 10/49 | €405,068 | €456,781 | +€51,713 | +12.8% |
| Equity | 10/15 | €146,920 | €238,936 | +€92,016 | +62.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,320 | €220,336 | +€92,016 | +71.7% |
| Distributable reserves | 133 | €128,320 | €220,336 | +€92,016 | +71.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €258,148 | €217,845 | -€40,303 | -15.6% |
| Amounts payable after more than one year | 17 | €170,451 | €159,676 | -€10,775 | -6.3% |
| Financial debts | 170/4 | €170,451 | €159,676 | -€10,775 | -6.3% |
| Amounts payable within one year | 42/48 | €87,697 | €58,169 | -€29,528 | -33.7% |
| Current portion of amounts payable after more than one year | 42 | €10,626 | €10,775 | +€150 | +1.4% |
| Trade debts | 44 | €13,942 | €3,538 | -€10,404 | -74.6% |
| Suppliers | 440/4 | €13,942 | €3,538 | -€10,404 | -74.6% |
| Taxes, remuneration and social security | 45 | €23,769 | €43,856 | +€20,087 | +84.5% |
| Taxes | 450/3 | €17,820 | €34,880 | +€17,059 | +95.7% |
| Remuneration and social security | 454/9 | €5,948 | €8,977 | +€3,028 | +50.9% |
| Other amounts payable | 47/48 | €39,360 | €0 | -€39,360 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,127 | €11,505 | +€1,377 | +13.6% |
| Other operating charges | 640/8 | €113 | €962 | +€849 | +750.3% |
| Gross operating margin | 9900 | €92,066 | €146,572 | +€54,505 | +59.2% |
| Operating profit (loss) | 9901 | €81,826 | €134,105 | +€52,279 | +63.9% |
| Financial income | 75/76B | €852 | €14 | -€838 | -98.4% |
| Recurring financial income | 75 | €852 | €14 | -€838 | -98.4% |
| Financial charges | 65/66B | €4,347 | €3,713 | -€633 | -14.6% |
| Recurring financial charges | 65 | €4,347 | €3,713 | -€633 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €78,331 | €130,406 | +€52,074 | +66.5% |
| Income taxes | 67/77 | €17,733 | €38,390 | +€20,657 | +116.5% |
| Profit (loss) for the period | 9904 | €60,599 | €92,016 | +€31,417 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,599 | €92,016 | +€31,417 | +51.8% |
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 12 October 2026 via checked.be.