THOVIN: 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.
What changed
THOVIN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€282,696
2024 · €320,942-€38,246
Equity
€33.7m
2024 · €33.5m+€282,696
Cash
€1.8m
2024 · €1.0m+€742,943
Balance sheet total
€33.8m
2024 · €33.5m+€278,795
Largest movements
Assets
- Cash +€742,943
up €742,943 (+72.7%), from €1.0m to €1.8m
mainly Current investments (+€447,369) and Net result for the year (+€282,696)
- Current investments -€447,369
down €447,369 (-6.6%), from €6.8m to €6.3m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€72,997
down €72,997 (-22.9%), from €318,901 to €245,904
- Taxes -€13,297
down €13,297 (-12.2%), from €109,026 to €95,728
- Other operating income +€7,065
up €7,065 (+442%), from €1,600 to €8,665
- Turnover +€6,515
up €6,515 (+1.7%), from €392,368 to €398,883
- Depreciation -€6,433
down €6,433 (-100%), from €6,433 to €0
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.
Result 2024
€320,942
Turnover
+€6,515
Other operating income
+€7,065
Services and other goods
+€1,636
Staff costs
-€792
Depreciation
+€6,433
Other operating charges
+€120
Other operating items
+€517
Financial income
-€72,997
Financial charges
-€41
Taxes
+€13,297
Result 2025
€282,696
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€295,574
Investment
+€447,369
Financing
€0
Cash 2024
€1.0m
From operations (derived)
+€295,574
Net result for the year
+€282,696
Receivables within one year
-€5,859
Deferred charges and accrued income
+€22,639
Trade debts
-€9,065
Tax, wage and social debts
+€9,498
Accrued charges and deferred income
-€4,334
Investment (derived)
+€447,369
Current investments
+€447,369
Cash 2025
€1.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,499,932 | €33,778,727 | +€278,795 | +0.8% |
| Fixed assets | 21/28 | €25,417,000 | €25,417,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €25,417,000 | €25,417,000 | = | 0.0% |
| Affiliated companies | 280/1 | €25,417,000 | €25,417,000 | = | 0.0% |
| Participating interests | 280 | €20,432,000 | €20,432,000 | = | 0.0% |
| Amounts receivable | 281 | €4,985,000 | €4,985,000 | = | 0.0% |
| Current assets | 29/58 | €8,082,932 | €8,361,727 | +€278,795 | +3.4% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €112,922 | €118,781 | +€5,859 | +5.2% |
| Trade receivables | 40 | €110,368 | €117,367 | +€6,999 | +6.3% |
| Other amounts receivable | 41 | €2,554 | €1,415 | -€1,140 | -44.6% |
| Current investments | 50/53 | €6,794,023 | €6,346,655 | -€447,369 | -6.6% |
| Other investments | 51/53 | €6,794,023 | €6,346,655 | -€447,369 | -6.6% |
| Cash at bank and in hand | 54/58 | €1,021,272 | €1,764,214 | +€742,943 | +72.7% |
| Deferred charges and accrued income | 490/1 | €154,715 | €132,076 | -€22,639 | -14.6% |
| Total equity and liabilities | 10/49 | €33,499,932 | €33,778,727 | +€278,795 | +0.8% |
| Equity | 10/15 | €33,460,688 | €33,743,383 | +€282,696 | +0.8% |
| Contributions | 10/11 | €20,452,000 | €20,452,000 | = | 0.0% |
| Reserves | 13 | €12,395,200 | €12,675,200 | +€280,000 | +2.3% |
| Distributable reserves | 133 | €12,395,200 | €12,675,200 | +€280,000 | +2.3% |
| Profit (loss) carried forward | 14 | €613,488 | €616,183 | +€2,696 | +0.4% |
| Amounts payable | 17/49 | €39,244 | €35,343 | -€3,901 | -9.9% |
| Amounts payable within one year | 42/48 | €33,276 | €33,709 | +€433 | +1.3% |
| Trade debts | 44 | €9,244 | €179 | -€9,065 | -98.1% |
| Suppliers | 440/4 | €9,244 | €179 | -€9,065 | -98.1% |
| Taxes, remuneration and social security | 45 | €22,832 | €32,330 | +€9,498 | +41.6% |
| Taxes | 450/3 | €15,028 | €23,981 | +€8,953 | +59.6% |
| Remuneration and social security | 454/9 | €7,805 | €8,349 | +€545 | +7.0% |
| Other amounts payable | 47/48 | €1,200 | €1,200 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,969 | €1,634 | -€4,334 | -72.6% |
| Operating income | 70/76A | €393,968 | €408,065 | +€14,097 | +3.6% |
| Turnover | 70 | €392,368 | €398,883 | +€6,515 | +1.7% |
| Other operating income | 74 | €1,600 | €8,665 | +€7,065 | +442% |
| Non-recurring operating income | 76A | - | €517 | +€517 | |
| Operating charges | 60/66A | €282,004 | €274,606 | -€7,398 | -2.6% |
| Services and other goods | 61 | €203,987 | €202,350 | -€1,636 | -0.8% |
| Remuneration, social security and pensions | 62 | €69,432 | €70,224 | +€792 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,433 | €0 | -€6,433 | -100% |
| Other operating charges | 640/8 | €2,152 | €2,032 | -€120 | -5.6% |
| Operating profit (loss) | 9901 | €111,964 | €133,458 | +€21,495 | +19.2% |
| Financial income | 75/76B | €318,901 | €245,904 | -€72,997 | -22.9% |
| Recurring financial income | 75 | €318,901 | €245,904 | -€72,997 | -22.9% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €318,901 | €245,904 | -€72,997 | -22.9% |
| Financial charges | 65/66B | €897 | €938 | +€41 | +4.6% |
| Recurring financial charges | 65 | €897 | €938 | +€41 | +4.6% |
| Other financial charges | 652/9 | €897 | €938 | +€41 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €429,968 | €378,424 | -€51,544 | -12.0% |
| Income taxes | 67/77 | €109,026 | €95,728 | -€13,297 | -12.2% |
| Taxes | 670/3 | €109,026 | €95,728 | -€13,297 | -12.2% |
| Profit (loss) for the period | 9904 | €320,942 | €282,696 | -€38,246 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €320,942 | €282,696 | -€38,246 | -11.9% |
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 29 October 2026 via checked.be.