Thornhill Systems: 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.
Thornhill Systems
Largest movements
- Cash +€20,499
up €20,499 (+36.3%), from €56,513 to €77,013
mainly Net result for the year (+€11,636) and Receivables within one year (+€10,509)
- Receivables within one year -€10,509
down €10,509 (-99.7%), from €10,542 to €33
of which Trade receivables: -€7,581
- Tangible fixed assets -€8,303
down €8,303 (-60.7%), from €13,671 to €5,368
of which Furniture and vehicles: -€8,037
- Deferred charges and accrued income +€2,628
up €2,628 (+168.1%), from €1,564 to €4,192
- Profit (loss) carried forward +€11,636
up €11,636 (+74.3%), from €15,659 to €27,295
- Trade debts -€4,584
down €4,584 (-55.9%), from €8,194 to €3,610
- Tax, wage and social debts -€1,992
down €1,992 (-55.0%), from €3,621 to €1,629
- Other debts -€1,451
down €1,451 (-5.0%), from €28,989 to €27,538
- Taxes -€3,335
down €3,335 (-74.8%), from €4,461 to €1,126
- Depreciation +€1,127
up €1,127 (+13.7%), from €8,223 to €9,351
- Financial charges +€741
up €741 (+63.5%), from €1,168 to €1,909
- Gross operating margin +€591
up €591 (+2.4%), from €24,384 to €24,975
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 | €82,290 | €86,606 | +€4,316 | +5.2% |
| Fixed assets | 21/28 | €13,671 | €5,368 | -€8,303 | -60.7% |
| Tangible fixed assets | 22/27 | €13,671 | €5,368 | -€8,303 | -60.7% |
| Plant, machinery and equipment | 23 | €757 | €491 | -€266 | -35.1% |
| Furniture and vehicles | 24 | €12,913 | €4,877 | -€8,037 | -62.2% |
| Current assets | 29/58 | €68,619 | €81,238 | +€12,618 | +18.4% |
| Amounts receivable within one year | 40/41 | €10,542 | €33 | -€10,509 | -99.7% |
| Trade receivables | 40 | €7,613 | €33 | -€7,581 | -99.6% |
| Other amounts receivable | 41 | €2,929 | €0 | -€2,929 | -100.0% |
| Cash at bank and in hand | 54/58 | €56,513 | €77,013 | +€20,499 | +36.3% |
| Deferred charges and accrued income | 490/1 | €1,564 | €4,192 | +€2,628 | +168.1% |
| Total equity and liabilities | 10/49 | €82,290 | €86,606 | +€4,316 | +5.2% |
| Equity | 10/15 | €40,434 | €52,069 | +€11,636 | +28.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €6,225 | €6,225 | = | 0.0% |
| Distributable reserves | 133 | €6,225 | €6,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,659 | €27,295 | +€11,636 | +74.3% |
| Amounts payable | 17/49 | €41,856 | €34,536 | -€7,320 | -17.5% |
| Amounts payable within one year | 42/48 | €40,804 | €32,777 | -€8,027 | -19.7% |
| Trade debts | 44 | €8,194 | €3,610 | -€4,584 | -55.9% |
| Suppliers | 440/4 | €8,194 | €3,610 | -€4,584 | -55.9% |
| Taxes, remuneration and social security | 45 | €3,621 | €1,629 | -€1,992 | -55.0% |
| Taxes | 450/3 | €3,621 | €1,629 | -€1,992 | -55.0% |
| Other amounts payable | 47/48 | €28,989 | €27,538 | -€1,451 | -5.0% |
| Accrued charges and deferred income | 492/3 | €1,052 | €1,759 | +€707 | +67.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,223 | €9,351 | +€1,127 | +13.7% |
| Other operating charges | 640/8 | €929 | €954 | +€25 | +2.7% |
| Non-recurring operating charges | 66A | €411 | €0 | -€411 | -100.0% |
| Gross operating margin | 9900 | €24,384 | €24,975 | +€591 | +2.4% |
| Operating profit (loss) | 9901 | €14,820 | €14,671 | -€150 | -1.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €1,168 | €1,909 | +€741 | +63.5% |
| Recurring financial charges | 65 | €1,168 | €1,909 | +€741 | +63.5% |
| Profit (loss) for the period before taxes | 9903 | €13,652 | €12,761 | -€891 | -6.5% |
| Income taxes | 67/77 | €4,461 | €1,126 | -€3,335 | -74.8% |
| Profit (loss) for the period | 9904 | €9,192 | €11,636 | +€2,444 | +26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,192 | €11,636 | +€2,444 | +26.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.