THONÉ: 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.
THONÉ
Largest movements
- Tangible fixed assets -€41,645
down €41,645 (-9.7%), from €429,848 to €388,202
of which Leasing and similar rights: -€29,316
- Receivables within one year +€36,904
up €36,904 (+68.0%), from €54,252 to €91,156
of which Trade receivables: +€36,904
- Cash +€20,447
up €20,447 (+13.4%), from €152,633 to €173,080
mainly Depreciation (+€48,338) and Net result for the year (+€35,656)
- Debts after one year -€41,065
down €41,065 (-14.1%), from €290,760 to €249,695
- Reserves +€35,656
up €35,656 (+20.3%), from €175,907 to €211,563
- Trade debts +€24,498
up €24,498 (+38.5%), from €63,659 to €88,157
- Other debts -€15,436
down €15,436 (-56.0%), from €27,588 to €12,152
- Tax, wage and social debts +€9,342
up €9,342 (+23.3%), from €40,104 to €49,446
of which Taxes: +€11,636
- Gross operating margin +€28,431
up €28,431 (+8.4%), from €339,567 to €367,998
- Staff costs -€21,982
down €21,982 (-8.3%), from €265,376 to €243,394
- Depreciation +€14,446
up €14,446 (+42.6%), from €33,892 to €48,338
- Taxes +€9,478
up €9,478 (+127.0%), from €7,463 to €16,941
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 | €656,839 | €670,677 | +€13,838 | +2.1% |
| Fixed assets | 21/28 | €430,211 | €388,565 | -€41,645 | -9.7% |
| Tangible fixed assets | 22/27 | €429,848 | €388,202 | -€41,645 | -9.7% |
| Land and buildings | 22 | €289,651 | €276,224 | -€13,427 | -4.6% |
| Plant, machinery and equipment | 23 | €6,884 | €9,457 | +€2,573 | +37.4% |
| Furniture and vehicles | 24 | €2,998 | €1,522 | -€1,475 | -49.2% |
| Leasing and similar rights | 25 | €130,315 | €100,999 | -€29,316 | -22.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €226,628 | €282,112 | +€55,484 | +24.5% |
| Stocks and contracts in progress | 3 | €17,946 | €15,880 | -€2,066 | -11.5% |
| Stocks | 30/36 | €17,946 | €15,880 | -€2,066 | -11.5% |
| Amounts receivable within one year | 40/41 | €54,252 | €91,156 | +€36,904 | +68.0% |
| Trade receivables | 40 | €53,017 | €89,921 | +€36,904 | +69.6% |
| Other amounts receivable | 41 | €1,235 | €1,235 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €152,633 | €173,080 | +€20,447 | +13.4% |
| Deferred charges and accrued income | 490/1 | €1,797 | €1,996 | +€199 | +11.1% |
| Total equity and liabilities | 10/49 | €656,839 | €670,677 | +€13,838 | +2.1% |
| Equity | 10/15 | €194,507 | €230,163 | +€35,656 | +18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €175,907 | €211,563 | +€35,656 | +20.3% |
| Distributable reserves | 133 | €175,907 | €211,563 | +€35,656 | +20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €462,332 | €440,515 | -€21,817 | -4.7% |
| Amounts payable after more than one year | 17 | €290,760 | €249,695 | -€41,065 | -14.1% |
| Financial debts | 170/4 | €290,760 | €249,695 | -€41,065 | -14.1% |
| Amounts payable within one year | 42/48 | €171,572 | €190,820 | +€19,247 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €39,217 | €41,065 | +€1,848 | +4.7% |
| Financial debts | 43 | €1,005 | €0 | -€1,005 | -100.0% |
| Credit institutions | 430/8 | €1,005 | €0 | -€1,005 | -100.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €63,659 | €88,157 | +€24,498 | +38.5% |
| Suppliers | 440/4 | €63,659 | €88,157 | +€24,498 | +38.5% |
| Taxes, remuneration and social security | 45 | €40,104 | €49,446 | +€9,342 | +23.3% |
| Taxes | 450/3 | €19,849 | €31,485 | +€11,636 | +58.6% |
| Remuneration and social security | 454/9 | €20,254 | €17,961 | -€2,294 | -11.3% |
| Other amounts payable | 47/48 | €27,588 | €12,152 | -€15,436 | -56.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €13,551 | €0 | -€13,551 | -100.0% |
| Remuneration, social security and pensions | 62 | €265,376 | €243,394 | -€21,982 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,892 | €48,338 | +€14,446 | +42.6% |
| Other operating charges | 640/8 | €6,857 | €6,725 | -€133 | -1.9% |
| Non-recurring operating charges | 66A | €0 | €316 | +€316 | |
| Gross operating margin | 9900 | €339,567 | €367,998 | +€28,431 | +8.4% |
| Operating profit (loss) | 9901 | €33,442 | €69,225 | +€35,783 | +107.0% |
| Financial income | 75/76B | €2,240 | €70 | -€2,170 | -96.9% |
| Recurring financial income | 75 | €2,240 | €70 | -€2,170 | -96.9% |
| Financial charges | 65/66B | €14,143 | €16,697 | +€2,554 | +18.1% |
| Recurring financial charges | 65 | €14,143 | €16,697 | +€2,554 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €21,539 | €52,597 | +€31,058 | +144.2% |
| Income taxes | 67/77 | €7,463 | €16,941 | +€9,478 | +127.0% |
| Profit (loss) for the period | 9904 | €14,076 | €35,656 | +€21,580 | +153.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,076 | €35,656 | +€21,580 | +153.3% |
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 5 October 2026 via checked.be.