THORREZ STEVEN: what changed
THORREZ STEVEN
Largest movements
- Cash +€13,275
up €13,275 (+10.8%), from €122,478 to €135,753
mainly Net result for the year (+€31,653) and Other debts (+€20,338)
- Tangible fixed assets -€6,576
down €6,576 (-25.1%), from €26,231 to €19,655
of which Furniture and vehicles: -€5,039
- Stocks and contracts -€2,551
down €2,551 (-46.0%), from €5,551 to €3,000
- Deferred charges and accrued income +€2,519
up €2,519 (+80.8%), from €3,118 to €5,637
- Other debts +€20,338
up €20,338 (+44.8%), from €45,389 to €65,727
- Reserves -€15,533
down €15,533 (-14.8%), from €104,822 to €89,288
of which Distributable reserves: -€15,533
- Trade debts +€1,944
up €1,944 (+482%), from €404 to €2,348
- Gross operating margin +€23,570
up €23,570 (+73.6%), from €32,003 to €55,573
- Taxes +€9,392
up €9,392 (+184%), from €5,108 to €14,500
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €169,854 | €177,680 | +€7,826 | +4.6% |
| Fixed assets | 21/28 | €26,231 | €19,655 | -€6,576 | -25.1% |
| Tangible fixed assets | 22/27 | €26,231 | €19,655 | -€6,576 | -25.1% |
| Plant, machinery and equipment | 23 | €17,182 | €15,645 | -€1,537 | -8.9% |
| Furniture and vehicles | 24 | €9,049 | €4,011 | -€5,039 | -55.7% |
| Current assets | 29/58 | €143,623 | €158,025 | +€14,402 | +10.0% |
| Stocks and contracts in progress | 3 | €5,551 | €3,000 | -€2,551 | -46.0% |
| Stocks | 30/36 | €5,551 | €3,000 | -€2,551 | -46.0% |
| Amounts receivable within one year | 40/41 | €12,476 | €13,635 | +€1,158 | +9.3% |
| Trade receivables | 40 | €8,334 | €7,085 | -€1,249 | -15.0% |
| Other amounts receivable | 41 | €4,142 | €6,550 | +€2,407 | +58.1% |
| Cash at bank and in hand | 54/58 | €122,478 | €135,753 | +€13,275 | +10.8% |
| Deferred charges and accrued income | 490/1 | €3,118 | €5,637 | +€2,519 | +80.8% |
| Total equity and liabilities | 10/49 | €169,854 | €177,680 | +€7,826 | +4.6% |
| Equity | 10/15 | €123,615 | €108,734 | -€14,880 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,822 | €89,288 | -€15,533 | -14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,962 | €87,428 | -€15,533 | -15.1% |
| Profit (loss) carried forward | 14 | €193 | €846 | +€653 | +339% |
| Amounts payable | 17/49 | €46,239 | €68,945 | +€22,706 | +49.1% |
| Amounts payable within one year | 42/48 | €45,793 | €68,075 | +€22,283 | +48.7% |
| Trade debts | 44 | €404 | €2,348 | +€1,944 | +482% |
| Suppliers | 440/4 | €404 | €2,348 | +€1,944 | +482% |
| Other amounts payable | 47/48 | €45,389 | €65,727 | +€20,338 | +44.8% |
| Accrued charges and deferred income | 492/3 | €447 | €870 | +€424 | +94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,504 | €7,775 | +€271 | +3.6% |
| Other operating charges | 640/8 | €695 | €715 | +€20 | +2.9% |
| Gross operating margin | 9900 | €32,003 | €55,573 | +€23,570 | +73.6% |
| Operating profit (loss) | 9901 | €23,804 | €47,084 | +€23,279 | +97.8% |
| Financial income | 75/76B | €49 | €13 | -€37 | -74.6% |
| Recurring financial income | 75 | €49 | €13 | -€37 | -74.6% |
| Financial charges | 65/66B | €515 | €943 | +€428 | +83.0% |
| Recurring financial charges | 65 | €515 | €943 | +€428 | +83.0% |
| Profit (loss) for the period before taxes | 9903 | €23,339 | €46,153 | +€22,815 | +97.8% |
| Income taxes | 67/77 | €5,108 | €14,500 | +€9,392 | +184% |
| Profit (loss) for the period | 9904 | €18,231 | €31,653 | +€13,422 | +73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,231 | €31,653 | +€13,422 | +73.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.