THOVER: 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.
THOVER
Largest movements
- Cash -€158,204
down €158,204 (-60.9%), from €259,930 to €101,726
mainly Other debts (-€189,850) and Provisions (-€2,176)
- Tangible fixed assets -€22,075
down €22,075 (-5.1%), from €431,775 to €409,700
- Other debts -€189,850
down €189,850 (-99.1%), from €191,524 to €1,674
- Gross operating margin -€5,902
down €5,902 (-16.3%), from €36,115 to €30,213
- Taxes -€1,322
down €1,322 (-32.9%), from €4,019 to €2,698
- Depreciation -€540
down €540 (-2.4%), from €22,615 to €22,075
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 | €699,626 | €513,900 | -€185,726 | -26.5% |
| Fixed assets | 21/28 | €431,906 | €409,832 | -€22,075 | -5.1% |
| Tangible fixed assets | 22/27 | €431,775 | €409,700 | -€22,075 | -5.1% |
| Land and buildings | 22 | €431,775 | €409,700 | -€22,075 | -5.1% |
| Financial fixed assets | 28 | €132 | €132 | = | 0.0% |
| Current assets | 29/58 | €267,719 | €104,069 | -€163,651 | -61.1% |
| Amounts receivable within one year | 40/41 | €7,313 | €2,277 | -€5,036 | -68.9% |
| Trade receivables | 40 | €477 | €297 | -€180 | -37.8% |
| Other amounts receivable | 41 | €6,837 | €1,981 | -€4,856 | -71.0% |
| Cash at bank and in hand | 54/58 | €259,930 | €101,726 | -€158,204 | -60.9% |
| Deferred charges and accrued income | 490/1 | €477 | €66 | -€411 | -86.2% |
| Total equity and liabilities | 10/49 | €699,626 | €513,900 | -€185,726 | -26.5% |
| Equity | 10/15 | €468,302 | €469,437 | +€1,134 | +0.2% |
| Contributions | 10/11 | €347,100 | €347,100 | = | 0.0% |
| Capital | 10 | €347,100 | €347,100 | = | 0.0% |
| Issued capital | 100 | €347,100 | €347,100 | = | 0.0% |
| Reserves | 13 | €121,202 | €122,337 | +€1,134 | +0.9% |
| Non-distributable reserves | 130/1 | €11,220 | €11,605 | +€385 | +3.4% |
| Legal reserve | 130 | €11,220 | €11,605 | +€385 | +3.4% |
| Tax-exempt reserves | 132 | €106,559 | €100,030 | -€6,529 | -6.1% |
| Distributable reserves | 133 | €3,423 | €10,701 | +€7,278 | +213% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €35,520 | €33,344 | -€2,176 | -6.1% |
| Deferred taxes | 168 | €35,520 | €33,344 | -€2,176 | -6.1% |
| Amounts payable | 17/49 | €195,804 | €11,120 | -€184,684 | -94.3% |
| Amounts payable within one year | 42/48 | €194,436 | €8,995 | -€185,441 | -95.4% |
| Trade debts | 44 | €2,912 | €6,124 | +€3,211 | +110% |
| Suppliers | 440/4 | €2,912 | €6,124 | +€3,211 | +110% |
| Taxes, remuneration and social security | 45 | - | €1,198 | +€1,198 | |
| Taxes | 450/3 | - | €1,198 | +€1,198 | |
| Other amounts payable | 47/48 | €191,524 | €1,674 | -€189,850 | -99.1% |
| Accrued charges and deferred income | 492/3 | €1,367 | €2,125 | +€757 | +55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,615 | €22,075 | -€540 | -2.4% |
| Other operating charges | 640/8 | €6,281 | €6,477 | +€196 | +3.1% |
| Gross operating margin | 9900 | €36,115 | €30,213 | -€5,902 | -16.3% |
| Operating profit (loss) | 9901 | €7,220 | €1,662 | -€5,558 | -77.0% |
| Financial income | 75/76B | €303 | €174 | -€129 | -42.6% |
| Recurring financial income | 75 | €303 | €174 | -€129 | -42.6% |
| Financial charges | 65/66B | €150 | €180 | +€30 | +20.0% |
| Recurring financial charges | 65 | €150 | €180 | +€30 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €7,372 | €1,656 | -€5,717 | -77.5% |
| Transfer from deferred taxes | 780 | €2,176 | €2,176 | = | 0.0% |
| Income taxes | 67/77 | €4,019 | €2,698 | -€1,322 | -32.9% |
| Profit (loss) for the period | 9904 | €5,529 | €1,134 | -€4,395 | -79.5% |
| Transfer from tax-exempt reserves | 789 | €6,529 | €6,529 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,058 | €7,663 | -€4,395 | -36.4% |
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 14 October 2026 via checked.be.