THOPAU: 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.
THOPAU
Largest movements
- Tangible fixed assets -€5,491
down €5,491 (-14.0%), from €39,110 to €33,618
of which Other tangible fixed assets: -€4,154
- Cash +€2,602
up €2,602 (+138.8%), from €1,875 to €4,477
mainly Other debts (+€13,637) and Depreciation (+€5,491)
- Receivables within one year -€1,329
down €1,329 (-84.6%), from €1,571 to €242
of which Trade receivables: -€863
- Deferred charges and accrued income -€718
down €718 (-54.4%), from €1,319 to €601
- Profit (loss) carried forward -€18,379
down €18,379 (-34.8%), from -€52,843 to -€71,222
- Other debts +€13,637
up €13,637 (+20.7%), from €65,849 to €79,486
- Gross operating margin +€11,251
up €11,251 (+48.6%), from -€23,131 to -€11,880
- Depreciation -€600
down €600 (-9.9%), from €6,092 to €5,491
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 | €43,874 | €38,938 | -€4,937 | -11.3% |
| Fixed assets | 21/28 | €39,110 | €33,618 | -€5,491 | -14.0% |
| Tangible fixed assets | 22/27 | €39,110 | €33,618 | -€5,491 | -14.0% |
| Furniture and vehicles | 24 | €5,258 | €3,921 | -€1,337 | -25.4% |
| Other tangible fixed assets | 26 | €33,851 | €29,697 | -€4,154 | -12.3% |
| Current assets | 29/58 | €4,765 | €5,320 | +€555 | +11.6% |
| Amounts receivable within one year | 40/41 | €1,571 | €242 | -€1,329 | -84.6% |
| Trade receivables | 40 | €863 | - | -€863 | |
| Other amounts receivable | 41 | €708 | €242 | -€466 | -65.8% |
| Cash at bank and in hand | 54/58 | €1,875 | €4,477 | +€2,602 | +138.8% |
| Deferred charges and accrued income | 490/1 | €1,319 | €601 | -€718 | -54.4% |
| Total equity and liabilities | 10/49 | €43,874 | €38,938 | -€4,937 | -11.3% |
| Equity | 10/15 | -€22,438 | -€40,817 | -€18,379 | -81.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €11,855 | €11,855 | = | 0.0% |
| Distributable reserves | 133 | €11,855 | €11,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,843 | -€71,222 | -€18,379 | -34.8% |
| Amounts payable | 17/49 | €66,313 | €79,755 | +€13,443 | +20.3% |
| Amounts payable within one year | 42/48 | €66,313 | €79,755 | +€13,443 | +20.3% |
| Trade debts | 44 | €260 | €269 | +€9 | +3.4% |
| Suppliers | 440/4 | €260 | €269 | +€9 | +3.4% |
| Taxes, remuneration and social security | 45 | €204 | - | -€204 | |
| Taxes | 450/3 | €204 | - | -€204 | |
| Other amounts payable | 47/48 | €65,849 | €79,486 | +€13,637 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,092 | €5,491 | -€600 | -9.9% |
| Other operating charges | 640/8 | €891 | €753 | -€138 | -15.5% |
| Gross operating margin | 9900 | -€23,131 | -€11,880 | +€11,251 | +48.6% |
| Operating profit (loss) | 9901 | -€30,113 | -€18,124 | +€11,989 | +39.8% |
| Financial income | 75/76B | €1 | €1 | -€0 | -11.5% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -11.5% |
| Financial charges | 65/66B | €58 | €57 | -€1 | -2.0% |
| Recurring financial charges | 65 | €58 | €57 | -€1 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,170 | -€18,180 | +€11,990 | +39.7% |
| Income taxes | 67/77 | €204 | €199 | -€5 | -2.3% |
| Profit (loss) for the period | 9904 | -€30,374 | -€18,379 | +€11,995 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,374 | -€18,379 | +€11,995 | +39.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.