ThoMaTech: 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.
ThoMaTech
Largest movements
- Tangible fixed assets +€222,526
up €222,526 (+54.1%), from €411,187 to €633,713
of which Land and buildings: +€226,732
- Current investments +€214,609
up €214,609 (+265.8%), from €80,738 to €295,346
- Receivables within one year +€28,777
up €28,777 (+58.6%), from €49,141 to €77,917
of which Other amounts receivable: +€32,204
- Cash -€22,426
down €22,426 (-96.5%), from €23,244 to €817
mainly Investment in fixed assets (net) (-€243,186) and Current investments (-€214,609)
- Debts after one year +€369,933
new in 2025: €369,933
- Reserves +€78,645
new in 2025: €78,645
- Other debts -€68,812
down €68,812 (-25.6%), from €268,491 to €199,679
- Current portion of long-term debt +€58,964
new in 2025: €58,964
- Trade debts +€10,958
up €10,958 (+251.8%), from €4,352 to €15,310
- Gross operating margin -€113,563
down €113,563 (-41.2%), from €275,649 to €162,086
- Taxes -€26,378
down €26,378 (-56.8%), from €46,446 to €20,068
- Other operating charges -€25,579
down €25,579 (-49.8%), from €51,316 to €25,737
- Financial charges +€18,288
up €18,288 (+497.3%), from €3,677 to €21,965
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 | €564,309 | €1,007,794 | +€443,485 | +78.6% |
| Fixed assets | 21/28 | €411,187 | €633,713 | +€222,526 | +54.1% |
| Tangible fixed assets | 22/27 | €411,187 | €633,713 | +€222,526 | +54.1% |
| Land and buildings | 22 | €360,740 | €587,472 | +€226,732 | +62.9% |
| Plant, machinery and equipment | 23 | €30,953 | €33,760 | +€2,807 | +9.1% |
| Furniture and vehicles | 24 | €19,494 | €12,482 | -€7,013 | -36.0% |
| Current assets | 29/58 | €153,122 | €374,081 | +€220,959 | +144.3% |
| Amounts receivable within one year | 40/41 | €49,141 | €77,917 | +€28,777 | +58.6% |
| Trade receivables | 40 | €46,459 | €43,031 | -€3,427 | -7.4% |
| Other amounts receivable | 41 | €2,682 | €34,886 | +€32,204 | +1200.8% |
| Current investments | 50/53 | €80,738 | €295,346 | +€214,609 | +265.8% |
| Cash at bank and in hand | 54/58 | €23,244 | €817 | -€22,426 | -96.5% |
| Total equity and liabilities | 10/49 | €564,309 | €1,007,794 | +€443,485 | +78.6% |
| Equity | 10/15 | €229,858 | €308,503 | +€78,645 | +34.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €78,645 | +€78,645 | |
| Distributable reserves | 133 | - | €78,645 | +€78,645 | |
| Profit (loss) carried forward | 14 | €228,858 | €228,858 | = | 0.0% |
| Amounts payable | 17/49 | €334,451 | €699,291 | +€364,840 | +109.1% |
| Amounts payable after more than one year | 17 | - | €369,933 | +€369,933 | |
| Financial debts | 170/4 | - | €369,933 | +€369,933 | |
| Amounts payable within one year | 42/48 | €334,451 | €329,358 | -€5,093 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | - | €58,964 | +€58,964 | |
| Trade debts | 44 | €4,352 | €15,310 | +€10,958 | +251.8% |
| Suppliers | 440/4 | €4,352 | €15,310 | +€10,958 | +251.8% |
| Taxes, remuneration and social security | 45 | €61,608 | €55,405 | -€6,203 | -10.1% |
| Taxes | 450/3 | €61,608 | €55,405 | -€6,203 | -10.1% |
| Other amounts payable | 47/48 | €268,491 | €199,679 | -€68,812 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,995 | €20,660 | +€1,665 | +8.8% |
| Other operating charges | 640/8 | €51,316 | €25,737 | -€25,579 | -49.8% |
| Gross operating margin | 9900 | €275,649 | €162,086 | -€113,563 | -41.2% |
| Operating profit (loss) | 9901 | €205,338 | €115,689 | -€89,649 | -43.7% |
| Financial income | 75/76B | €3,612 | €4,990 | +€1,378 | +38.2% |
| Recurring financial income | 75 | €3,612 | €4,990 | +€1,378 | +38.2% |
| Financial charges | 65/66B | €3,677 | €21,965 | +€18,288 | +497.3% |
| Recurring financial charges | 65 | €3,677 | €21,965 | +€18,288 | +497.3% |
| Profit (loss) for the period before taxes | 9903 | €205,272 | €98,713 | -€106,559 | -51.9% |
| Income taxes | 67/77 | €46,446 | €20,068 | -€26,378 | -56.8% |
| Profit (loss) for the period | 9904 | €158,826 | €78,645 | -€80,181 | -50.5% |
| Profit (loss) for the period to be appropriated | 9905 | €158,826 | €78,645 | -€80,181 | -50.5% |
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 28 September 2026 via checked.be.