THOR PARK: 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.
What changed
THOR PARK
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€75,113
2024 · €257,487-€332,600
Equity
€32.7m
2024 · €32.8m-€75,113
Cash
€399,638
2024 · €1.5m-€1.1m
Balance sheet total
€35.2m
2024 · €35.4m-€180,180
Largest movements
Assets
- Cash -€1.1m
down €1.1m (-74.0%), from €1.5m to €399,638
mainly Investment in fixed assets (net) (-€1.0m) and Accrued charges and deferred income (-€149,744)
- Financial fixed assets +€1.0m
up €1.0m (+4.2%), from €24.1m to €25.1m
of which Affiliated companies: +€1.0m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Goods and materials -€205,082
down €205,082 (-100.0%), from €205,082 to €0
of which Purchases: -€1.0m
- Other operating income -€99,997
down €99,997 (-33.3%), from €300,058 to €200,062
- Turnover +€91,219
up €91,219 (+53.2%), from €171,366 to €262,585
- Services and other goods +€75,101
up €75,101 (+19.0%), from €395,761 to €470,862
- Taxes -€73,700
down €73,700, from €73,558 to -€142
of which Taxes: -€73,558
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.
Result 2024
€257,487
Turnover
+€91,219
Other operating income
-€99,997
Goods and materials
+€205,082
Services and other goods
-€75,101
Staff costs
-€10,468
Depreciation
+€7,353
Other operating charges
-€11
Other operating items
-€462,596
Financial income
-€53,202
Financial charges
-€8,578
Taxes
+€73,700
Result 2025
-€75,113
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.
From operations
-€225,828
Investment
-€1.0m
Financing
+€90,300
Cash 2024
€1.5m
From operations (derived)
-€225,828
Net result for the year
-€75,113
Depreciation
+€43,823
Receivables after one year
-€112,045
Receivables within one year
+€114,753
Deferred charges and accrued income
-€1,879
Trade debts
-€49,219
Tax, wage and social debts
+€3,595
Accrued charges and deferred income
-€149,744
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€90,300
Debts after one year
+€90,300
Cash 2025
€399,638
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,424,700 | €35,244,520 | -€180,180 | -0.5% |
| Fixed assets | 21/28 | €30,561,215 | €31,517,392 | +€956,177 | +3.1% |
| Intangible fixed assets | 21 | €161 | €0 | -€161 | -100.0% |
| Tangible fixed assets | 22/27 | €6,501,579 | €6,457,917 | -€43,662 | -0.7% |
| Land and buildings | 22 | €157,378 | €155,548 | -€1,830 | -1.2% |
| Plant, machinery and equipment | 23 | €707 | €462 | -€245 | -34.6% |
| Other tangible fixed assets | 26 | €6,343,494 | €6,301,907 | -€41,587 | -0.7% |
| Financial fixed assets | 28 | €24,059,475 | €25,059,475 | +€1.0m | +4.2% |
| Affiliated companies | 280/1 | €15,302,800 | €16,302,800 | +€1.0m | +6.5% |
| Participating interests | 280 | €15,302,800 | €16,302,800 | +€1.0m | +6.5% |
| Companies linked by participating interests | 282/3 | €8,754,500 | €8,754,500 | = | 0.0% |
| Participating interests | 282 | €8,754,500 | €8,754,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,175 | €2,175 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,175 | €2,175 | = | 0.0% |
| Current assets | 29/58 | €4,863,485 | €3,727,128 | -€1.1m | -23.4% |
| Amounts receivable after more than one year | 29 | €200,700 | €312,745 | +€112,045 | +55.8% |
| Other amounts receivable | 291 | €200,700 | €312,745 | +€112,045 | +55.8% |
| Stocks and contracts in progress | 3 | €2,788,146 | €2,788,146 | = | 0.0% |
| Stocks | 30/36 | €2,788,146 | €2,788,146 | = | 0.0% |
| Property held for sale | 35 | €2,788,146 | €2,788,146 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €285,110 | €170,357 | -€114,753 | -40.2% |
| Trade receivables | 40 | €163,372 | €153,382 | -€9,990 | -6.1% |
| Other amounts receivable | 41 | €121,738 | €16,975 | -€104,763 | -86.1% |
| Cash at bank and in hand | 54/58 | €1,535,166 | €399,638 | -€1.1m | -74.0% |
| Deferred charges and accrued income | 490/1 | €54,363 | €56,242 | +€1,879 | +3.5% |
| Total equity and liabilities | 10/49 | €35,424,700 | €35,244,520 | -€180,180 | -0.5% |
| Equity | 10/15 | €32,777,844 | €32,702,732 | -€75,113 | -0.2% |
| Contributions | 10/11 | €32,535,628 | €32,535,628 | = | 0.0% |
| Capital | 10 | €32,535,628 | €32,535,628 | = | 0.0% |
| Issued capital | 100 | €32,535,628 | €32,535,628 | = | 0.0% |
| Reserves | 13 | €16,381 | €16,381 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,381 | €16,381 | = | 0.0% |
| Legal reserve | 130 | €16,381 | €16,381 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,835 | €150,722 | -€75,113 | -33.3% |
| Amounts payable | 17/49 | €2,646,856 | €2,541,788 | -€105,067 | -4.0% |
| Amounts payable after more than one year | 17 | €2,239,150 | €2,329,450 | +€90,300 | +4.0% |
| Financial debts | 170/4 | €2,239,150 | €2,329,450 | +€90,300 | +4.0% |
| Subordinated loans | 170 | €2,239,150 | €2,329,450 | +€90,300 | +4.0% |
| Amounts payable within one year | 42/48 | €245,535 | €199,912 | -€45,623 | -18.6% |
| Trade debts | 44 | €176,848 | €127,629 | -€49,219 | -27.8% |
| Suppliers | 440/4 | €176,848 | €127,629 | -€49,219 | -27.8% |
| Taxes, remuneration and social security | 45 | €68,687 | €72,283 | +€3,595 | +5.2% |
| Taxes | 450/3 | €64,058 | €63,925 | -€133 | -0.2% |
| Remuneration and social security | 454/9 | €4,629 | €8,357 | +€3,728 | +80.5% |
| Accrued charges and deferred income | 492/3 | €162,171 | €12,427 | -€149,744 | -92.3% |
| Operating income | 70/76A | €1,084,020 | €612,647 | -€471,374 | -43.5% |
| Turnover | 70 | €171,366 | €262,585 | +€91,219 | +53.2% |
| Own construction capitalised | 72 | €260,551 | €0 | -€260,551 | -100.0% |
| Other operating income | 74 | €300,058 | €200,062 | -€99,997 | -33.3% |
| Non-recurring operating income | 76A | €352,045 | €150,000 | -€202,045 | -57.4% |
| Operating charges | 60/66A | €724,305 | €597,452 | -€126,853 | -17.5% |
| Goods for resale, raw materials and consumables | 60 | €205,082 | €0 | -€205,082 | -100.0% |
| Purchases | 600/8 | €1,046,107 | €0 | -€1.0m | -100.0% |
| Change in stocks: decrease (increase) | 609 | -€841,025 | €0 | +€841,025 | |
| Services and other goods | 61 | €395,761 | €470,862 | +€75,101 | +19.0% |
| Remuneration, social security and pensions | 62 | €70,456 | €80,924 | +€10,468 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,176 | €43,823 | -€7,353 | -14.4% |
| Other operating charges | 640/8 | €1,830 | €1,842 | +€11 | +0.6% |
| Operating profit (loss) | 9901 | €359,715 | €15,195 | -€344,520 | -95.8% |
| Financial income | 75/76B | €53,203 | €0 | -€53,202 | -100.0% |
| Recurring financial income | 75 | €53,203 | €0 | -€53,202 | -100.0% |
| Income from financial fixed assets | 750 | €53,203 | - | -€53,203 | |
| Other financial income | 752/9 | €0 | €0 | +€0 | +933.3% |
| Financial charges | 65/66B | €81,872 | €90,450 | +€8,578 | +10.5% |
| Recurring financial charges | 65 | €81,872 | €90,450 | +€8,578 | +10.5% |
| Debt charges | 650 | €81,746 | €90,300 | +€8,554 | +10.5% |
| Other financial charges | 652/9 | €126 | €150 | +€24 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €331,046 | -€75,254 | -€406,300 | |
| Income taxes | 67/77 | €73,558 | -€142 | -€73,700 | |
| Taxes | 670/3 | €73,558 | €0 | -€73,558 | -100.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €142 | +€142 | |
| Profit (loss) for the period | 9904 | €257,487 | -€75,113 | -€332,600 | |
| Profit (loss) for the period to be appropriated | 9905 | €257,487 | -€75,113 | -€332,600 |
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 6 October 2026 via checked.be.