THORNDIKE: 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.
THORNDIKE
Largest movements
- Receivables within one year -€19,030
down €19,030 (-87.1%), from €21,861 to €2,831
of which Trade receivables: -€18,295
- Stocks and contracts +€13,796
up €13,796 (+54.3%), from €25,399 to €39,195
- Deferred charges and accrued income +€6,334
up €6,334 (+3198.2%), from €198 to €6,532
- Cash +€2,994
up €2,994 (+94.5%), from €3,169 to €6,162
mainly Receivables within one year (+€19,030) and Other debts (+€10,800)
- Other debts +€10,800
up €10,800 (+15.1%), from €71,705 to €82,505
- Trade debts -€8,901
down €8,901 (-39.0%), from €22,838 to €13,937
- Gross operating margin +€19,751
up €19,751, from -€10,124 to €9,627
- Depreciation +€1,961
up €1,961 (+34.0%), from €5,769 to €7,730
- Other operating charges -€593
down €593 (-21.3%), from €2,792 to €2,199
- Financial income -€363
down €363 (-67.1%), from €540 to €178
- Financial charges +€148
up €148 (+256.3%), from €58 to €206
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 | €214,066 | €216,702 | +€2,636 | +1.2% |
| Fixed assets | 21/28 | €133,504 | €132,045 | -€1,458 | -1.1% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €133,479 | €132,021 | -€1,458 | -1.1% |
| Land and buildings | 22 | €125,620 | €121,317 | -€4,303 | -3.4% |
| Plant, machinery and equipment | 23 | €1,786 | €6,627 | +€4,842 | +271.1% |
| Furniture and vehicles | 24 | €6,073 | €4,076 | -€1,997 | -32.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €80,562 | €84,656 | +€4,094 | +5.1% |
| Stocks and contracts in progress | 3 | €25,399 | €39,195 | +€13,796 | +54.3% |
| Stocks | 30/36 | €25,399 | €39,195 | +€13,796 | +54.3% |
| Amounts receivable within one year | 40/41 | €21,861 | €2,831 | -€19,030 | -87.1% |
| Trade receivables | 40 | €20,463 | €2,168 | -€18,295 | -89.4% |
| Other amounts receivable | 41 | €1,398 | €663 | -€735 | -52.6% |
| Current investments | 50/53 | €29,936 | €29,936 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €3,169 | €6,162 | +€2,994 | +94.5% |
| Deferred charges and accrued income | 490/1 | €198 | €6,532 | +€6,334 | +3198.2% |
| Total equity and liabilities | 10/49 | €214,066 | €216,702 | +€2,636 | +1.2% |
| Equity | 10/15 | €119,451 | €119,121 | -€330 | -0.3% |
| Contributions | 10/11 | €76,847 | €76,847 | = | 0.0% |
| Capital | 10 | €76,847 | €76,847 | = | 0.0% |
| Issued capital | 100 | €76,847 | €76,847 | = | 0.0% |
| Reserves | 13 | €42,604 | €42,274 | -€330 | -0.8% |
| Non-distributable reserves | 130/1 | €7,685 | €7,685 | = | 0.0% |
| Legal reserve | 130 | €7,685 | €7,685 | = | 0.0% |
| Distributable reserves | 133 | €34,920 | €34,590 | -€330 | -0.9% |
| Amounts payable | 17/49 | €94,615 | €97,580 | +€2,966 | +3.1% |
| Amounts payable within one year | 42/48 | €94,615 | €97,580 | +€2,966 | +3.1% |
| Trade debts | 44 | €22,838 | €13,937 | -€8,901 | -39.0% |
| Suppliers | 440/4 | €22,838 | €13,937 | -€8,901 | -39.0% |
| Taxes, remuneration and social security | 45 | €72 | €1,138 | +€1,066 | +1484.7% |
| Taxes | 450/3 | €72 | €1,138 | +€1,066 | +1484.7% |
| Other amounts payable | 47/48 | €71,705 | €82,505 | +€10,800 | +15.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,769 | €7,730 | +€1,961 | +34.0% |
| Other operating charges | 640/8 | €2,792 | €2,199 | -€593 | -21.3% |
| Gross operating margin | 9900 | -€10,124 | €9,627 | +€19,751 | |
| Operating profit (loss) | 9901 | -€18,685 | -€302 | +€18,383 | +98.4% |
| Financial income | 75/76B | €540 | €178 | -€363 | -67.1% |
| Recurring financial income | 75 | €540 | €178 | -€363 | -67.1% |
| Financial charges | 65/66B | €58 | €206 | +€148 | +256.3% |
| Recurring financial charges | 65 | €58 | €206 | +€148 | +256.3% |
| Profit (loss) for the period before taxes | 9903 | -€18,202 | -€330 | +€17,872 | +98.2% |
| Profit (loss) for the period | 9904 | -€18,202 | -€330 | +€17,872 | +98.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,202 | -€330 | +€17,872 | +98.2% |
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 4 October 2026 via checked.be.