THORAN: 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.
THORAN
Largest movements
- Cash -€140,135
no longer reported in 2025 (was €140,135)
mainly Current investments (-€110,004) and Stocks and contracts (-€44,644)
- Current investments +€110,004
new in 2025: €110,004
- Stocks and contracts +€44,644
up €44,644 (+81.8%), from €54,600 to €99,244
- Tangible fixed assets +€14,872
new in 2025: €14,872
- Receivables within one year +€11,380
up €11,380 (+3141.1%), from €362 to €11,742
of which Other amounts receivable: +€11,682
- Profit (loss) carried forward +€36,049
up €36,049 (+28.4%), from €126,717 to €162,766
- Trade debts +€9,404
up €9,404 (+203.1%), from €4,631 to €14,035
- Tax, wage and social debts -€4,990
down €4,990 (-29.3%), from €17,027 to €12,037
- Gross operating margin -€20,300
down €20,300 (-29.3%), from €69,202 to €48,902
- Taxes -€9,206
down €9,206 (-54.2%), from €16,995 to €7,788
- Depreciation +€2,974
new in 2025: €2,974
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 | €195,097 | €235,862 | +€40,764 | +20.9% |
| Fixed assets | 21/28 | - | €14,872 | +€14,872 | |
| Tangible fixed assets | 22/27 | - | €14,872 | +€14,872 | |
| Furniture and vehicles | 24 | - | €14,872 | +€14,872 | |
| Current assets | 29/58 | €195,097 | €220,990 | +€25,893 | +13.3% |
| Stocks and contracts in progress | 3 | €54,600 | €99,244 | +€44,644 | +81.8% |
| Stocks | 30/36 | €54,600 | €99,244 | +€44,644 | +81.8% |
| Amounts receivable within one year | 40/41 | €362 | €11,742 | +€11,380 | +3141.1% |
| Trade receivables | 40 | €362 | €61 | -€302 | -83.3% |
| Other amounts receivable | 41 | - | €11,682 | +€11,682 | |
| Current investments | 50/53 | - | €110,004 | +€110,004 | |
| Cash at bank and in hand | 54/58 | €140,135 | - | -€140,135 | |
| Total equity and liabilities | 10/49 | €195,097 | €235,862 | +€40,764 | +20.9% |
| Equity | 10/15 | €136,717 | €172,766 | +€36,049 | +26.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,717 | €162,766 | +€36,049 | +28.4% |
| Amounts payable | 17/49 | €58,380 | €63,095 | +€4,715 | +8.1% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,380 | €38,095 | +€4,715 | +14.1% |
| Trade debts | 44 | €4,631 | €14,035 | +€9,404 | +203.1% |
| Suppliers | 440/4 | €4,631 | €14,035 | +€9,404 | +203.1% |
| Taxes, remuneration and social security | 45 | €17,027 | €12,037 | -€4,990 | -29.3% |
| Taxes | 450/3 | €17,027 | €12,037 | -€4,990 | -29.3% |
| Other amounts payable | 47/48 | €11,722 | €12,023 | +€301 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,974 | +€2,974 | |
| Other operating charges | 640/8 | €1,359 | €1,910 | +€550 | +40.5% |
| Gross operating margin | 9900 | €69,202 | €48,902 | -€20,300 | -29.3% |
| Operating profit (loss) | 9901 | €67,843 | €44,018 | -€23,824 | -35.1% |
| Financial income | 75/76B | €292 | €99 | -€193 | -66.1% |
| Recurring financial income | 75 | €292 | €99 | -€193 | -66.1% |
| Financial charges | 65/66B | €219 | €280 | +€61 | +27.8% |
| Recurring financial charges | 65 | €219 | €280 | +€61 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €67,916 | €43,838 | -€24,078 | -35.5% |
| Income taxes | 67/77 | €16,995 | €7,788 | -€9,206 | -54.2% |
| Profit (loss) for the period | 9904 | €50,921 | €36,049 | -€14,872 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €50,921 | €36,049 | -€14,872 | -29.2% |
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 8 October 2026 via checked.be.