THOPLING: 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.
THOPLING
Largest movements
- Tangible fixed assets -€30,752
down €30,752 (-14.8%), from €207,669 to €176,917
of which Plant, machinery and equipment: -€25,044
- Receivables within one year +€17,111
up €17,111 (+160.6%), from €10,652 to €27,764
of which Trade receivables: +€20,904
- Cash -€9,505
down €9,505 (-16.1%), from €59,039 to €49,534
mainly Contributions, distributions and other (-€75,293) and Debts after one year (-€34,719)
- Other debts +€48,619
up €48,619 (+148.0%), from €32,850 to €81,469
- Reserves -€39,198
down €39,198 (-99.8%), from €39,293 to €95
- Debts after one year -€34,719
down €34,719 (-25.6%), from €135,776 to €101,057
- Tax, wage and social debts +€6,899
up €6,899 (+46.6%), from €14,808 to €21,707
of which Remuneration and social security: +€6,561
- Current portion of long-term debt -€2,999
down €2,999 (-8.0%), from €37,718 to €34,719
- Gross operating margin +€59,585
up €59,585 (+47.7%), from €124,970 to €184,555
- Staff costs +€42,986
up €42,986 (+123.5%), from €34,815 to €77,801
- Depreciation +€10,586
up €10,586 (+25.4%), from €41,668 to €52,253
- Taxes +€3,914
up €3,914 (+62.7%), from €6,244 to €10,158
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 | €283,048 | €260,240 | -€22,808 | -8.1% |
| Fixed assets | 21/28 | €208,215 | €177,391 | -€30,824 | -14.8% |
| Intangible fixed assets | 21 | €546 | €474 | -€72 | -13.2% |
| Tangible fixed assets | 22/27 | €207,669 | €176,917 | -€30,752 | -14.8% |
| Land and buildings | 22 | €5,518 | €6,632 | +€1,113 | +20.2% |
| Plant, machinery and equipment | 23 | €117,149 | €92,105 | -€25,044 | -21.4% |
| Furniture and vehicles | 24 | €85,002 | €78,180 | -€6,822 | -8.0% |
| Current assets | 29/58 | €74,833 | €82,849 | +€8,016 | +10.7% |
| Amounts receivable within one year | 40/41 | €10,652 | €27,764 | +€17,111 | +160.6% |
| Trade receivables | 40 | €6,860 | €27,764 | +€20,904 | +304.7% |
| Other amounts receivable | 41 | €3,792 | €0 | -€3,792 | -100.0% |
| Cash at bank and in hand | 54/58 | €59,039 | €49,534 | -€9,505 | -16.1% |
| Deferred charges and accrued income | 490/1 | €5,142 | €5,552 | +€410 | +8.0% |
| Total equity and liabilities | 10/49 | €283,048 | €260,240 | -€22,808 | -8.1% |
| Equity | 10/15 | €57,893 | €18,695 | -€39,198 | -67.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,293 | €95 | -€39,198 | -99.8% |
| Distributable reserves | 133 | €39,293 | €95 | -€39,198 | -99.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €225,154 | €241,545 | +€16,390 | +7.3% |
| Amounts payable after more than one year | 17 | €135,776 | €101,057 | -€34,719 | -25.6% |
| Financial debts | 170/4 | €135,776 | €101,057 | -€34,719 | -25.6% |
| Amounts payable within one year | 42/48 | €85,956 | €139,308 | +€53,352 | +62.1% |
| Current portion of amounts payable after more than one year | 42 | €37,718 | €34,719 | -€2,999 | -8.0% |
| Trade debts | 44 | €580 | €1,414 | +€834 | +143.8% |
| Suppliers | 440/4 | €580 | €1,414 | +€834 | +143.8% |
| Taxes, remuneration and social security | 45 | €14,808 | €21,707 | +€6,899 | +46.6% |
| Taxes | 450/3 | €12,843 | €13,182 | +€338 | +2.6% |
| Remuneration and social security | 454/9 | €1,965 | €8,525 | +€6,561 | +333.9% |
| Other amounts payable | 47/48 | €32,850 | €81,469 | +€48,619 | +148.0% |
| Accrued charges and deferred income | 492/3 | €3,422 | €1,180 | -€2,242 | -65.5% |
| Non-recurring operating income | 76A | €3,996 | €0 | -€3,996 | -100.0% |
| Remuneration, social security and pensions | 62 | €34,815 | €77,801 | +€42,986 | +123.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,668 | €52,253 | +€10,586 | +25.4% |
| Other operating charges | 640/8 | €1,713 | €1,471 | -€242 | -14.1% |
| Non-recurring operating charges | 66A | €6,173 | €0 | -€6,173 | -100.0% |
| Gross operating margin | 9900 | €124,970 | €184,555 | +€59,585 | +47.7% |
| Operating profit (loss) | 9901 | €40,601 | €53,029 | +€12,428 | +30.6% |
| Financial income | 75/76B | €94 | €101 | +€8 | +8.0% |
| Recurring financial income | 75 | €94 | €101 | +€8 | +8.0% |
| Financial charges | 65/66B | €8,619 | €6,878 | -€1,742 | -20.2% |
| Recurring financial charges | 65 | €8,619 | €6,878 | -€1,742 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €32,076 | €46,253 | +€14,177 | +44.2% |
| Income taxes | 67/77 | €6,244 | €10,158 | +€3,914 | +62.7% |
| Profit (loss) for the period | 9904 | €25,832 | €36,095 | +€10,263 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,832 | €36,095 | +€10,263 | +39.7% |
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 10 October 2026 via checked.be.