Thourist: 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.
Thourist
Largest movements
- Current investments +€36,000
up €36,000 (+76.6%), from €47,000 to €83,000
- Receivables within one year -€34,903
down €34,903 (-43.1%), from €80,984 to €46,081
of which Trade receivables: -€31,303
- Cash -€3,518
down €3,518 (-7.0%), from €50,245 to €46,727
mainly Current investments (-€36,000) and Contributions, distributions and other (-€16,460)
- Trade debts -€15,517
down €15,517 (-91.5%), from €16,952 to €1,435
- Reserves +€7,540
up €7,540 (+2.5%), from €305,310 to €312,850
- Other debts +€5,543
up €5,543 (+97.8%), from €5,668 to €11,211
- Tax, wage and social debts +€4,773
up €4,773 (+28.7%), from €16,658 to €21,431
of which Taxes: +€3,073
- Financial income -€25,390
down €25,390 (-66.8%), from €37,994 to €12,604
- Financial charges -€1,763
down €1,763 (-60.3%), from €2,924 to €1,160
- Gross operating margin +€1,647
up €1,647 (+5.9%), from €27,974 to €29,621
- Taxes +€1,497
up €1,497 (+14.6%), from €10,233 to €11,730
- Depreciation +€512
up €512 (+12.1%), from €4,228 to €4,741
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 | €347,449 | €348,506 | +€1,057 | +0.3% |
| Fixed assets | 21/28 | €168,820 | €171,979 | +€3,159 | +1.9% |
| Tangible fixed assets | 22/27 | €15,875 | €19,034 | +€3,159 | +19.9% |
| Furniture and vehicles | 24 | €4,485 | €3,465 | -€1,020 | -22.7% |
| Other tangible fixed assets | 26 | €11,390 | €15,569 | +€4,179 | +36.7% |
| Financial fixed assets | 28 | €152,945 | €152,945 | = | 0.0% |
| Current assets | 29/58 | €178,629 | €176,527 | -€2,102 | -1.2% |
| Amounts receivable within one year | 40/41 | €80,984 | €46,081 | -€34,903 | -43.1% |
| Trade receivables | 40 | €68,759 | €37,456 | -€31,303 | -45.5% |
| Other amounts receivable | 41 | €12,225 | €8,625 | -€3,600 | -29.4% |
| Current investments | 50/53 | €47,000 | €83,000 | +€36,000 | +76.6% |
| Cash at bank and in hand | 54/58 | €50,245 | €46,727 | -€3,518 | -7.0% |
| Deferred charges and accrued income | 490/1 | €400 | €719 | +€319 | +79.8% |
| Total equity and liabilities | 10/49 | €347,449 | €348,506 | +€1,057 | +0.3% |
| Equity | 10/15 | €306,463 | €314,011 | +€7,549 | +2.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €305,310 | €312,850 | +€7,540 | +2.5% |
| Distributable reserves | 133 | €305,310 | €312,850 | +€7,540 | +2.5% |
| Profit (loss) carried forward | 14 | €153 | €161 | +€9 | +5.6% |
| Amounts payable | 17/49 | €40,986 | €34,495 | -€6,491 | -15.8% |
| Amounts payable within one year | 42/48 | €39,278 | €34,077 | -€5,201 | -13.2% |
| Trade debts | 44 | €16,952 | €1,435 | -€15,517 | -91.5% |
| Suppliers | 440/4 | €16,952 | €1,435 | -€15,517 | -91.5% |
| Taxes, remuneration and social security | 45 | €16,658 | €21,431 | +€4,773 | +28.7% |
| Taxes | 450/3 | €13,258 | €16,331 | +€3,073 | +23.2% |
| Remuneration and social security | 454/9 | €3,400 | €5,100 | +€1,700 | +50.0% |
| Other amounts payable | 47/48 | €5,668 | €11,211 | +€5,543 | +97.8% |
| Accrued charges and deferred income | 492/3 | €1,709 | €418 | -€1,290 | -75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,228 | €4,741 | +€512 | +12.1% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €27,974 | €29,621 | +€1,647 | +5.9% |
| Operating profit (loss) | 9901 | €23,176 | €24,295 | +€1,118 | +4.8% |
| Financial income | 75/76B | €37,994 | €12,604 | -€25,390 | -66.8% |
| Recurring financial income | 75 | €37,994 | €12,604 | -€25,390 | -66.8% |
| Financial charges | 65/66B | €2,924 | €1,160 | -€1,763 | -60.3% |
| Recurring financial charges | 65 | €2,924 | €1,160 | -€1,763 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €58,247 | €35,739 | -€22,508 | -38.6% |
| Income taxes | 67/77 | €10,233 | €11,730 | +€1,497 | +14.6% |
| Profit (loss) for the period | 9904 | €48,013 | €24,009 | -€24,005 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,013 | €24,009 | -€24,005 | -50.0% |
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.