ThoRo Services: 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.
ThoRo Services
Largest movements
- Cash +€36,783
up €36,783 (+25.9%), from €142,040 to €178,823
mainly Net result for the year (+€57,197) and Other debts (+€54,227)
- Receivables within one year -€9,983
down €9,983 (-59.8%), from €16,681 to €6,699
of which Trade receivables: -€16,483
- Other debts +€54,227
up €54,227 (+876%), from €6,188 to €60,415
- Tax, wage and social debts -€23,937
down €23,937 (-78.6%), from €30,464 to €6,527
- Debts after one year -€2,352
down €2,352 (-100%), from €2,352 to €0
- Gross operating margin -€12,102
down €12,102 (-13.7%), from €88,404 to €76,302
- Taxes -€8,225
down €8,225 (-35.4%), from €23,236 to €15,011
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.
Derived cash bridge
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 | €173,531 | €200,000 | +€26,470 | +15.3% |
| Fixed assets | 21/28 | €14,355 | €12,639 | -€1,716 | -12.0% |
| Tangible fixed assets | 22/27 | €14,355 | €12,639 | -€1,716 | -12.0% |
| Plant, machinery and equipment | 23 | €612 | €316 | -€296 | -48.4% |
| Furniture and vehicles | 24 | €1,591 | €1,703 | +€112 | +7.0% |
| Other tangible fixed assets | 26 | €12,152 | €10,620 | -€1,532 | -12.6% |
| Current assets | 29/58 | €159,175 | €187,361 | +€28,186 | +17.7% |
| Amounts receivable within one year | 40/41 | €16,681 | €6,699 | -€9,983 | -59.8% |
| Trade receivables | 40 | €16,681 | €199 | -€16,483 | -98.8% |
| Other amounts receivable | 41 | - | €6,500 | +€6,500 | |
| Cash at bank and in hand | 54/58 | €142,040 | €178,823 | +€36,783 | +25.9% |
| Deferred charges and accrued income | 490/1 | €454 | €1,840 | +€1,386 | +305% |
| Total equity and liabilities | 10/49 | €173,531 | €200,000 | +€26,470 | +15.3% |
| Equity | 10/15 | €130,383 | €130,383 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €126,383 | €126,383 | = | 0.0% |
| Distributable reserves | 133 | €126,383 | €126,383 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,147 | €69,617 | +€26,470 | +61.3% |
| Amounts payable after more than one year | 17 | €2,352 | €0 | -€2,352 | -100% |
| Financial debts | 170/4 | €2,352 | €0 | -€2,352 | -100% |
| Amounts payable within one year | 42/48 | €40,795 | €69,617 | +€28,822 | +70.7% |
| Current portion of amounts payable after more than one year | 42 | €2,276 | €2,352 | +€76 | +3.4% |
| Trade debts | 44 | €1,867 | €322 | -€1,545 | -82.8% |
| Suppliers | 440/4 | €1,867 | €322 | -€1,545 | -82.8% |
| Taxes, remuneration and social security | 45 | €30,464 | €6,527 | -€23,937 | -78.6% |
| Taxes | 450/3 | €30,464 | €6,527 | -€23,937 | -78.6% |
| Other amounts payable | 47/48 | €6,188 | €60,415 | +€54,227 | +876% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,145 | €2,872 | -€273 | -8.7% |
| Other operating charges | 640/8 | €525 | €551 | +€27 | +5.1% |
| Gross operating margin | 9900 | €88,404 | €76,302 | -€12,102 | -13.7% |
| Operating profit (loss) | 9901 | €84,734 | €72,878 | -€11,856 | -14.0% |
| Financial income | 75/76B | €8 | €0 | -€8 | -100% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -100% |
| Financial charges | 65/66B | €867 | €670 | -€197 | -22.7% |
| Recurring financial charges | 65 | €867 | €670 | -€197 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €83,875 | €72,208 | -€11,667 | -13.9% |
| Income taxes | 67/77 | €23,236 | €15,011 | -€8,225 | -35.4% |
| Profit (loss) for the period | 9904 | €60,639 | €57,197 | -€3,442 | -5.7% |
| Profit (loss) for the period to be appropriated | 9905 | €60,639 | €57,197 | -€3,442 | -5.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.