THP EUROPE: 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.
THP EUROPE
Largest movements
- Tangible fixed assets -€6,869
down €6,869 (-8.6%), from €80,310 to €73,442
of which Land and buildings: -€6,735
- Cash +€1,710
up €1,710 (+5.2%), from €33,032 to €34,741
mainly Depreciation (+€6,869) and Other debts (+€3,713)
- Profit (loss) carried forward -€12,416
new in 2025: -€12,416
- Other debts +€3,713
up €3,713 (+11.8%), from €31,533 to €35,246
- Trade debts +€1,627
new in 2025: €1,627
- Accrued charges and deferred income +€1,341
up €1,341 (+73.5%), from €1,825 to €3,165
- Gross operating margin -€12,854
down €12,854, from €10,355 to -€2,499
- Depreciation +€299
up €299 (+4.6%), from €6,569 to €6,869
- Financial charges +€198
up €198 (+17.0%), from €1,168 to €1,366
- Taxes +€193
up €193, from -€76 to €118
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 | €114,869 | €109,134 | -€5,736 | -5.0% |
| Fixed assets | 21/28 | €80,310 | €73,442 | -€6,869 | -8.6% |
| Tangible fixed assets | 22/27 | €80,310 | €73,442 | -€6,869 | -8.6% |
| Land and buildings | 22 | €79,577 | €72,842 | -€6,735 | -8.5% |
| Plant, machinery and equipment | 23 | €148 | €100 | -€48 | -32.4% |
| Furniture and vehicles | 24 | €585 | €500 | -€86 | -14.6% |
| Current assets | 29/58 | €34,559 | €35,692 | +€1,133 | +3.3% |
| Amounts receivable within one year | 40/41 | €500 | - | -€500 | |
| Trade receivables | 40 | €500 | - | -€500 | |
| Cash at bank and in hand | 54/58 | €33,032 | €34,741 | +€1,710 | +5.2% |
| Deferred charges and accrued income | 490/1 | €1,028 | €950 | -€77 | -7.5% |
| Total equity and liabilities | 10/49 | €114,869 | €109,134 | -€5,736 | -5.0% |
| Equity | 10/15 | €81,512 | €69,095 | -€12,416 | -15.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €19,512 | €19,512 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €13,312 | €13,312 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,416 | -€12,416 | |
| Amounts payable | 17/49 | €33,358 | €40,039 | +€6,681 | +20.0% |
| Amounts payable within one year | 42/48 | €31,533 | €36,873 | +€5,340 | +16.9% |
| Trade debts | 44 | - | €1,627 | +€1,627 | |
| Suppliers | 440/4 | - | €1,627 | +€1,627 | |
| Other amounts payable | 47/48 | €31,533 | €35,246 | +€3,713 | +11.8% |
| Accrued charges and deferred income | 492/3 | €1,825 | €3,165 | +€1,341 | +73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,569 | €6,869 | +€299 | +4.6% |
| Other operating charges | 640/8 | €1,519 | €1,566 | +€48 | +3.1% |
| Gross operating margin | 9900 | €10,355 | -€2,499 | -€12,854 | |
| Operating profit (loss) | 9901 | €2,267 | -€10,933 | -€13,200 | |
| Financial charges | 65/66B | €1,168 | €1,366 | +€198 | +17.0% |
| Recurring financial charges | 65 | €1,168 | €1,366 | +€198 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €1,099 | -€12,299 | -€13,398 | |
| Income taxes | 67/77 | -€76 | €118 | +€193 | |
| Profit (loss) for the period | 9904 | €1,175 | -€12,416 | -€13,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,175 | -€12,416 | -€13,592 |
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 24 October 2026 via checked.be.