THONET Nicolas: 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.
THONET Nicolas
Largest movements
- Receivables within one year -€67,191
down €67,191 (-68.6%), from €97,879 to €30,688
of which Trade receivables: -€62,194
- Stocks and contracts -€20,720
down €20,720 (-94.1%), from €22,024 to €1,303
- Cash -€3,833
down €3,833 (-15.8%), from €24,323 to €20,490
mainly Trade debts (-€65,913) and Advances received (-€25,503)
- Tangible fixed assets +€3,631
up €3,631 (+63.0%), from €5,761 to €9,391
of which Plant, machinery and equipment: +€5,868
- Trade debts -€65,913
down €65,913 (-93.5%), from €70,519 to €4,607
- Advances received -€25,503
down €25,503 (-89.9%), from €28,359 to €2,857
- Other debts +€4,678
up €4,678 (+54.6%), from €8,567 to €13,245
- Debts after one year +€3,426
up €3,426 (+435%), from €788 to €4,214
- Reserves -€2,500
down €2,500 (-8.3%), from €30,000 to €27,500
- Gross operating margin -€8,859
down €8,859 (-28.8%), from €30,770 to €21,911
- Depreciation +€514
up €514 (+7.3%), from €7,053 to €7,567
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 | €151,784 | €63,652 | -€88,132 | -58.1% |
| Formation expenses | 20 | €206 | €0 | -€206 | -100% |
| Fixed assets | 21/28 | €6,181 | €9,811 | +€3,631 | +58.7% |
| Tangible fixed assets | 22/27 | €5,761 | €9,391 | +€3,631 | +63.0% |
| Plant, machinery and equipment | 23 | - | €5,868 | +€5,868 | |
| Furniture and vehicles | 24 | €5,761 | €3,524 | -€2,237 | -38.8% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €145,398 | €53,841 | -€91,557 | -63.0% |
| Stocks and contracts in progress | 3 | €22,024 | €1,303 | -€20,720 | -94.1% |
| Stocks | 30/36 | €22,024 | €1,303 | -€20,720 | -94.1% |
| Amounts receivable within one year | 40/41 | €97,879 | €30,688 | -€67,191 | -68.6% |
| Trade receivables | 40 | €86,467 | €24,273 | -€62,194 | -71.9% |
| Other amounts receivable | 41 | €11,412 | €6,414 | -€4,998 | -43.8% |
| Cash at bank and in hand | 54/58 | €24,323 | €20,490 | -€3,833 | -15.8% |
| Deferred charges and accrued income | 490/1 | €1,172 | €1,360 | +€188 | +16.0% |
| Total equity and liabilities | 10/49 | €151,784 | €63,652 | -€88,132 | -58.1% |
| Equity | 10/15 | €34,835 | €31,422 | -€3,413 | -9.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €30,000 | €27,500 | -€2,500 | -8.3% |
| Distributable reserves | 133 | €30,000 | €27,500 | -€2,500 | -8.3% |
| Profit (loss) carried forward | 14 | €1,335 | €422 | -€913 | -68.4% |
| Amounts payable | 17/49 | €116,949 | €32,230 | -€84,719 | -72.4% |
| Amounts payable after more than one year | 17 | €788 | €4,214 | +€3,426 | +435% |
| Financial debts | 170/4 | €788 | €4,214 | +€3,426 | +435% |
| Amounts payable within one year | 42/48 | €116,161 | €28,016 | -€88,145 | -75.9% |
| Current portion of amounts payable after more than one year | 42 | €4,693 | €2,481 | -€2,211 | -47.1% |
| Trade debts | 44 | €70,519 | €4,607 | -€65,913 | -93.5% |
| Suppliers | 440/4 | €70,519 | €4,607 | -€65,913 | -93.5% |
| Advances received on contracts in progress | 46 | €28,359 | €2,857 | -€25,503 | -89.9% |
| Taxes, remuneration and social security | 45 | €4,023 | €4,826 | +€804 | +20.0% |
| Taxes | 450/3 | €4,023 | €4,826 | +€804 | +20.0% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €8,567 | €13,245 | +€4,678 | +54.6% |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,053 | €7,567 | +€514 | +7.3% |
| Other operating charges | 640/8 | €882 | €904 | +€22 | +2.5% |
| Gross operating margin | 9900 | €30,770 | €21,911 | -€8,859 | -28.8% |
| Operating profit (loss) | 9901 | €22,835 | €13,441 | -€9,395 | -41.1% |
| Financial income | 75/76B | €77 | €143 | +€66 | +85.0% |
| Recurring financial income | 75 | €77 | €143 | +€66 | +85.0% |
| Financial charges | 65/66B | €707 | €964 | +€257 | +36.3% |
| Recurring financial charges | 65 | €707 | €964 | +€257 | +36.3% |
| Profit (loss) for the period before taxes | 9903 | €22,205 | €12,619 | -€9,586 | -43.2% |
| Income taxes | 67/77 | €3,033 | €3,326 | +€294 | +9.7% |
| Profit (loss) for the period | 9904 | €19,173 | €9,293 | -€9,880 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,173 | €9,293 | -€9,880 | -51.5% |
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 27 October 2026 via checked.be.