THOVER: what changed
THOVER
Largest movements
- Cash +€62,804
up €62,804 (+189%), from €33,209 to €96,012
mainly Net result for the year (+€73,259) and Tax, wage and social debts (+€5,626)
- Receivables within one year +€18,685
up €18,685 (+163%), from €11,477 to €30,162
of which Trade receivables: +€18,685
- Profit (loss) carried forward +€73,259
up €73,259 (+189%), from €38,685 to €111,944
- Tax, wage and social debts +€5,626
up €5,626 (+91.6%), from €6,144 to €11,770
- Gross operating margin +€44,663
up €44,663 (+89.2%), from €50,053 to €94,716
- Taxes +€9,062
up €9,062 (+92.1%), from €9,838 to €18,900
- Depreciation +€1,033
up €1,033 (+96.4%), from €1,071 to €2,104
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 | €49,570 | €130,582 | +€81,012 | +163% |
| Fixed assets | 21/28 | €4,884 | €4,408 | -€477 | -9.8% |
| Tangible fixed assets | 22/27 | €4,884 | €4,408 | -€477 | -9.8% |
| Plant, machinery and equipment | 23 | €1,098 | €1,944 | +€846 | +77.0% |
| Furniture and vehicles | 24 | €2,684 | €1,496 | -€1,189 | -44.3% |
| Other tangible fixed assets | 26 | €1,102 | €968 | -€134 | -12.2% |
| Current assets | 29/58 | €44,686 | €126,174 | +€81,489 | +182% |
| Amounts receivable within one year | 40/41 | €11,477 | €30,162 | +€18,685 | +163% |
| Trade receivables | 40 | €11,315 | €30,000 | +€18,685 | +165% |
| Other amounts receivable | 41 | €162 | €162 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,209 | €96,012 | +€62,804 | +189% |
| Total equity and liabilities | 10/49 | €49,570 | €130,582 | +€81,012 | +163% |
| Equity | 10/15 | €42,685 | €115,944 | +€73,259 | +172% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,685 | €111,944 | +€73,259 | +189% |
| Amounts payable | 17/49 | €6,885 | €14,638 | +€7,753 | +113% |
| Amounts payable within one year | 42/48 | €6,498 | €13,176 | +€6,678 | +103% |
| Trade debts | 44 | €354 | €921 | +€567 | +160% |
| Suppliers | 440/4 | €354 | €921 | +€567 | +160% |
| Taxes, remuneration and social security | 45 | €6,144 | €11,770 | +€5,626 | +91.6% |
| Taxes | 450/3 | €6,144 | €11,770 | +€5,626 | +91.6% |
| Other amounts payable | 47/48 | - | €485 | +€485 | |
| Accrued charges and deferred income | 492/3 | €387 | €1,462 | +€1,075 | +277% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,071 | €2,104 | +€1,033 | +96.4% |
| Other operating charges | 640/8 | €437 | €400 | -€38 | -8.6% |
| Gross operating margin | 9900 | €50,053 | €94,716 | +€44,663 | +89.2% |
| Operating profit (loss) | 9901 | €48,545 | €92,212 | +€43,667 | +90.0% |
| Financial charges | 65/66B | €22 | €53 | +€31 | +142% |
| Recurring financial charges | 65 | €22 | €53 | +€31 | +142% |
| Profit (loss) for the period before taxes | 9903 | €48,523 | €92,159 | +€43,636 | +89.9% |
| Income taxes | 67/77 | €9,838 | €18,900 | +€9,062 | +92.1% |
| Profit (loss) for the period | 9904 | €38,685 | €73,259 | +€34,574 | +89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,685 | €73,259 | +€34,574 | +89.4% |
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 8 November 2026 via checked.be.