THOR CATERING: 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.
THOR CATERING
Largest movements
- Receivables within one year +€561,130
up €561,130 (+128.4%), from €436,940 to €998,070
of which Trade receivables: +€405,767
- Tangible fixed assets +€99,528
up €99,528 (+66.5%), from €149,644 to €249,172
- Cash -€87,705
down €87,705 (-29.1%), from €301,337 to €213,632
mainly Receivables within one year (-€561,130) and Investment in fixed assets (net) (-€256,429)
- Financial fixed assets +€70,517
up €70,517 (+117.1%), from €60,197 to €130,714
- Stocks and contracts -€62,979
down €62,979 (-100.0%), from €62,979 to €0
- Trade debts +€537,508
up €537,508 (+256.9%), from €209,202 to €746,710
- Debts after one year +€108,360
up €108,360 (+4780.9%), from €2,267 to €110,627
- Tax, wage and social debts -€86,251
down €86,251 (-62.7%), from €137,608 to €51,357
of which Remuneration and social security: -€85,493
- Reserves +€36,838
up €36,838 (+6.5%), from €569,205 to €606,043
of which Distributable reserves: +€36,838
- Current portion of long-term debt +€33,113
up €33,113 (+376.2%), from €8,803 to €41,916
- Gross operating margin -€220,269
down €220,269 (-18.8%), from €1.2m to €952,138
- Staff costs -€167,131
down €167,131 (-17.3%), from €965,711 to €798,580
- Depreciation +€35,775
up €35,775 (+72.6%), from €49,244 to €85,019
- Taxes -€29,104
down €29,104 (-67.5%), from €43,134 to €14,030
- Other operating charges -€16,305
down €16,305 (-91.8%), from €17,769 to €1,464
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 | €1,012,715 | €1,602,499 | +€589,784 | +58.2% |
| Fixed assets | 21/28 | €209,841 | €381,251 | +€171,410 | +81.7% |
| Intangible fixed assets | 21 | €0 | €1,365 | +€1,365 | |
| Tangible fixed assets | 22/27 | €149,644 | €249,172 | +€99,528 | +66.5% |
| Land and buildings | 22 | €19,050 | €38,982 | +€19,932 | +104.6% |
| Plant, machinery and equipment | 23 | €70,998 | €117,311 | +€46,313 | +65.2% |
| Furniture and vehicles | 24 | €41,465 | €78,660 | +€37,196 | +89.7% |
| Leasing and similar rights | 25 | €18,131 | €14,219 | -€3,912 | -21.6% |
| Financial fixed assets | 28 | €60,197 | €130,714 | +€70,517 | +117.1% |
| Current assets | 29/58 | €802,874 | €1,221,247 | +€418,374 | +52.1% |
| Stocks and contracts in progress | 3 | €62,979 | €0 | -€62,979 | -100.0% |
| Stocks | 30/36 | €62,979 | €0 | -€62,979 | -100.0% |
| Amounts receivable within one year | 40/41 | €436,940 | €998,070 | +€561,130 | +128.4% |
| Trade receivables | 40 | €331,378 | €737,145 | +€405,767 | +122.4% |
| Other amounts receivable | 41 | €105,562 | €260,925 | +€155,363 | +147.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €301,337 | €213,632 | -€87,705 | -29.1% |
| Deferred charges and accrued income | 490/1 | €1,618 | €9,545 | +€7,927 | +490.0% |
| Total equity and liabilities | 10/49 | €1,012,715 | €1,602,499 | +€589,784 | +58.2% |
| Equity | 10/15 | €599,205 | €636,043 | +€36,838 | +6.1% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €569,205 | €606,043 | +€36,838 | +6.5% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €566,205 | €603,043 | +€36,838 | +6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €413,510 | €966,456 | +€552,946 | +133.7% |
| Amounts payable after more than one year | 17 | €2,267 | €110,627 | +€108,360 | +4780.9% |
| Financial debts | 170/4 | €2,267 | €110,627 | +€108,360 | +4780.9% |
| Amounts payable within one year | 42/48 | €411,243 | €855,829 | +€444,586 | +108.1% |
| Current portion of amounts payable after more than one year | 42 | €8,803 | €41,916 | +€33,113 | +376.2% |
| Financial debts | 43 | €32,000 | €0 | -€32,000 | -100.0% |
| Credit institutions | 430/8 | €32,000 | €0 | -€32,000 | -100.0% |
| Trade debts | 44 | €209,202 | €746,710 | +€537,508 | +256.9% |
| Suppliers | 440/4 | €209,202 | €746,710 | +€537,508 | +256.9% |
| Advances received on contracts in progress | 46 | €13,806 | €6,134 | -€7,671 | -55.6% |
| Taxes, remuneration and social security | 45 | €137,608 | €51,357 | -€86,251 | -62.7% |
| Taxes | 450/3 | €25,175 | €24,417 | -€758 | -3.0% |
| Remuneration and social security | 454/9 | €112,433 | €26,940 | -€85,493 | -76.0% |
| Other amounts payable | 47/48 | €9,825 | €9,712 | -€113 | -1.1% |
| Remuneration, social security and pensions | 62 | €965,711 | €798,580 | -€167,131 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,244 | €85,019 | +€35,775 | +72.6% |
| Other operating charges | 640/8 | €17,769 | €1,464 | -€16,305 | -91.8% |
| Gross operating margin | 9900 | €1,172,406 | €952,138 | -€220,269 | -18.8% |
| Operating profit (loss) | 9901 | €139,682 | €67,074 | -€72,608 | -52.0% |
| Financial income | 75/76B | €3,762 | €862 | -€2,900 | -77.1% |
| Recurring financial income | 75 | €3,762 | €862 | -€2,900 | -77.1% |
| Financial charges | 65/66B | €15,964 | €17,067 | +€1,103 | +6.9% |
| Recurring financial charges | 65 | €15,964 | €17,067 | +€1,103 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €127,480 | €50,868 | -€76,612 | -60.1% |
| Income taxes | 67/77 | €43,134 | €14,030 | -€29,104 | -67.5% |
| Profit (loss) for the period | 9904 | €84,346 | €36,838 | -€47,508 | -56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €84,346 | €36,838 | -€47,508 | -56.3% |
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.