THOMATS: 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.
THOMATS
Largest movements
- Receivables within one year +€12,275
up €12,275 (+74.9%), from €16,388 to €28,663
of which Trade receivables: +€8,167
- Stocks and contracts -€10,705
down €10,705 (-20.6%), from €51,947 to €41,242
- Cash -€1,421
down €1,421 (-24.3%), from €5,846 to €4,426
mainly Net result for the year (-€22,942) and Receivables within one year (-€12,275)
- Trade debts +€23,939
up €23,939 (+107%), from €22,451 to €46,391
- Profit (loss) carried forward -€22,942
down €22,942 (-82.8%), from €27,713 to €4,771
- Tax, wage and social debts -€5,015
down €5,015 (-36.6%), from €13,688 to €8,673
of which Taxes: -€2,593
- Current portion of long-term debt +€1,686
new in 2025: €1,686
- Short-term financial debts +€1,440
new in 2025: €1,440
- Gross operating margin -€13,590
down €13,590 (-39.6%), from €34,312 to €20,722
- Staff costs -€2,065
down €2,065 (-5.0%), from €41,605 to €39,540
- Taxes +€2,008
up €2,008, from -€1,843 to €165
- Depreciation -€380
down €380 (-40.4%), from €941 to €560
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 | €78,112 | €77,221 | -€891 | -1.1% |
| Fixed assets | 21/28 | €560 | - | -€560 | |
| Tangible fixed assets | 22/27 | €560 | - | -€560 | |
| Plant, machinery and equipment | 23 | €400 | - | -€400 | |
| Furniture and vehicles | 24 | €161 | - | -€161 | |
| Current assets | 29/58 | €77,552 | €77,221 | -€331 | -0.4% |
| Stocks and contracts in progress | 3 | €51,947 | €41,242 | -€10,705 | -20.6% |
| Stocks | 30/36 | €51,947 | €41,242 | -€10,705 | -20.6% |
| Amounts receivable within one year | 40/41 | €16,388 | €28,663 | +€12,275 | +74.9% |
| Trade receivables | 40 | €68 | €8,235 | +€8,167 | +12,052% |
| Other amounts receivable | 41 | €16,320 | €20,427 | +€4,107 | +25.2% |
| Cash at bank and in hand | 54/58 | €5,846 | €4,426 | -€1,421 | -24.3% |
| Deferred charges and accrued income | 490/1 | €3,371 | €2,890 | -€480 | -14.3% |
| Total equity and liabilities | 10/49 | €78,112 | €77,221 | -€891 | -1.1% |
| Equity | 10/15 | €41,973 | €19,031 | -€22,942 | -54.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,713 | €4,771 | -€22,942 | -82.8% |
| Amounts payable | 17/49 | €36,139 | €58,190 | +€22,051 | +61.0% |
| Amounts payable within one year | 42/48 | €36,139 | €58,190 | +€22,051 | +61.0% |
| Current portion of amounts payable after more than one year | 42 | - | €1,686 | +€1,686 | |
| Financial debts | 43 | - | €1,440 | +€1,440 | |
| Credit institutions | 430/8 | - | €1,440 | +€1,440 | |
| Trade debts | 44 | €22,451 | €46,391 | +€23,939 | +107% |
| Suppliers | 440/4 | €22,451 | €46,391 | +€23,939 | +107% |
| Taxes, remuneration and social security | 45 | €13,688 | €8,673 | -€5,015 | -36.6% |
| Taxes | 450/3 | €2,593 | - | -€2,593 | |
| Remuneration and social security | 454/9 | €11,095 | €8,673 | -€2,422 | -21.8% |
| Remuneration, social security and pensions | 62 | €41,605 | €39,540 | -€2,065 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €941 | €560 | -€380 | -40.4% |
| Other operating charges | 640/8 | €1,065 | €1,066 | +€2 | +0.1% |
| Gross operating margin | 9900 | €34,312 | €20,722 | -€13,590 | -39.6% |
| Operating profit (loss) | 9901 | -€9,298 | -€20,445 | -€11,146 | -120% |
| Financial income | 75/76B | €762 | €724 | -€38 | -5.0% |
| Recurring financial income | 75 | €762 | €724 | -€38 | -5.0% |
| Financial charges | 65/66B | €2,803 | €3,057 | +€254 | +9.0% |
| Recurring financial charges | 65 | €2,803 | €3,057 | +€254 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | -€11,340 | -€22,778 | -€11,438 | -101% |
| Income taxes | 67/77 | -€1,843 | €165 | +€2,008 | |
| Profit (loss) for the period | 9904 | -€9,497 | -€22,942 | -€13,446 | -142% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,497 | -€22,942 | -€13,446 | -142% |
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 18 October 2026 via checked.be.