THORP: 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.
THORP
Largest movements
- Cash +€26,182
up €26,182 (+74.0%), from €35,365 to €61,547
mainly Stocks and contracts (+€11,480) and Receivables within one year (+€6,776)
- Stocks and contracts -€11,480
no longer reported in 2025 (was €11,480)
- Receivables within one year -€6,776
down €6,776 (-44.3%), from €15,285 to €8,509
of which Other amounts receivable: -€6,116
- Tangible fixed assets -€5,171
down €5,171 (-23.8%), from €21,741 to €16,570
- Tax, wage and social debts +€2,262
up €2,262 (+35.1%), from €6,439 to €8,700
- Other debts -€1,986
down €1,986 (-14.1%), from €14,069 to €12,083
- Trade debts +€1,965
up €1,965 (+156.7%), from €1,254 to €3,219
- Depreciation +€2,835
up €2,835 (+93.3%), from €3,040 to €5,876
- Gross operating margin +€1,408
up €1,408 (+8.9%), from €15,873 to €17,282
- Taxes -€979
down €979 (-29.8%), from €3,279 to €2,300
- Financial charges +€393
up €393 (+51.3%), from €766 to €1,159
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 | €83,870 | €86,626 | +€2,756 | +3.3% |
| Fixed assets | 21/28 | €21,741 | €16,570 | -€5,171 | -23.8% |
| Tangible fixed assets | 22/27 | €21,741 | €16,570 | -€5,171 | -23.8% |
| Furniture and vehicles | 24 | €21,741 | €16,570 | -€5,171 | -23.8% |
| Current assets | 29/58 | €62,129 | €70,056 | +€7,927 | +12.8% |
| Stocks and contracts in progress | 3 | €11,480 | - | -€11,480 | |
| Stocks | 30/36 | €11,480 | - | -€11,480 | |
| Amounts receivable within one year | 40/41 | €15,285 | €8,509 | -€6,776 | -44.3% |
| Trade receivables | 40 | €6,044 | €5,384 | -€660 | -10.9% |
| Other amounts receivable | 41 | €9,241 | €3,125 | -€6,116 | -66.2% |
| Cash at bank and in hand | 54/58 | €35,365 | €61,547 | +€26,182 | +74.0% |
| Total equity and liabilities | 10/49 | €83,870 | €86,626 | +€2,756 | +3.3% |
| Equity | 10/15 | €62,108 | €62,622 | +€515 | +0.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €51,960 | €51,960 | = | 0.0% |
| Distributable reserves | 133 | €51,960 | €51,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148 | €662 | +€515 | +349.1% |
| Amounts payable | 17/49 | €21,762 | €24,003 | +€2,241 | +10.3% |
| Amounts payable within one year | 42/48 | €21,762 | €24,003 | +€2,241 | +10.3% |
| Trade debts | 44 | €1,254 | €3,219 | +€1,965 | +156.7% |
| Suppliers | 440/4 | €1,254 | €3,219 | +€1,965 | +156.7% |
| Taxes, remuneration and social security | 45 | €6,439 | €8,700 | +€2,262 | +35.1% |
| Taxes | 450/3 | €6,439 | €8,700 | +€2,262 | +35.1% |
| Other amounts payable | 47/48 | €14,069 | €12,083 | -€1,986 | -14.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,040 | €5,876 | +€2,835 | +93.3% |
| Other operating charges | 640/8 | €1,524 | €1,439 | -€85 | -5.6% |
| Gross operating margin | 9900 | €15,873 | €17,282 | +€1,408 | +8.9% |
| Operating profit (loss) | 9901 | €11,309 | €9,967 | -€1,342 | -11.9% |
| Financial income | 75/76B | €1 | €7 | +€6 | +589.0% |
| Recurring financial income | 75 | €1 | €7 | +€6 | +589.0% |
| Financial charges | 65/66B | €766 | €1,159 | +€393 | +51.3% |
| Recurring financial charges | 65 | €766 | €1,159 | +€393 | +51.3% |
| Profit (loss) for the period before taxes | 9903 | €10,544 | €8,815 | -€1,729 | -16.4% |
| Income taxes | 67/77 | €3,279 | €2,300 | -€979 | -29.8% |
| Profit (loss) for the period | 9904 | €7,266 | €6,515 | -€751 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,266 | €6,515 | -€751 | -10.3% |
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 11 October 2026 via checked.be.