THRIVE: what changed
Two fiscal 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.
THRIVE
Largest movements
- Receivables within one year +€91,732
up €91,732 (+55.3%), from €165,783 to €257,515
of which Other amounts receivable: +€48,190
- Cash -€84,299
down €84,299 (-41.6%), from €202,586 to €118,287
mainly Net result for the year (-€268,156) and Receivables within one year (-€91,732)
- Tangible fixed assets -€31,396
down €31,396 (-46.1%), from €68,120 to €36,724
- Intangible fixed assets -€16,894
down €16,894 (-15.3%), from €110,178 to €93,284
- Deferred charges and accrued income -€11,627
down €11,627 (-88.8%), from €13,092 to €1,465
- Profit (loss) carried forward -€268,156
down €268,156 (-31.9%), from -€841,719 to -€1.1m
- Contributions +€200,013
up €200,013 (+47.3%), from €423,000 to €623,013
- Trade debts +€68,965
up €68,965 (+57.0%), from €121,032 to €189,997
- Current portion of long-term debt -€61,628
down €61,628 (-50.2%), from €122,701 to €61,073
- Gross operating margin +€203,729
up €203,729 (+82.1%), from -€248,129 to -€44,400
- Staff costs -€67,806
down €67,806 (-35.4%), from €191,462 to €123,655
- Other operating charges +€12,395
up €12,395 (+40.1%), from €30,910 to €43,305
- Financial charges +€6,969
up €6,969 (+52.7%), from €13,212 to €20,181
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €850,125 | €799,733 | -€50,392 | -5.9% |
| Fixed assets | 21/28 | €179,798 | €131,508 | -€48,290 | -26.9% |
| Intangible fixed assets | 21 | €110,178 | €93,284 | -€16,894 | -15.3% |
| Tangible fixed assets | 22/27 | €68,120 | €36,724 | -€31,396 | -46.1% |
| Furniture and vehicles | 24 | €68,120 | €36,724 | -€31,396 | -46.1% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €670,326 | €668,225 | -€2,101 | -0.3% |
| Stocks and contracts in progress | 3 | €288,865 | €290,958 | +€2,093 | +0.7% |
| Stocks | 30/36 | €288,865 | €290,958 | +€2,093 | +0.7% |
| Amounts receivable within one year | 40/41 | €165,783 | €257,515 | +€91,732 | +55.3% |
| Trade receivables | 40 | €99,276 | €142,817 | +€43,542 | +43.9% |
| Other amounts receivable | 41 | €66,507 | €114,697 | +€48,190 | +72.5% |
| Cash at bank and in hand | 54/58 | €202,586 | €118,287 | -€84,299 | -41.6% |
| Deferred charges and accrued income | 490/1 | €13,092 | €1,465 | -€11,627 | -88.8% |
| Total equity and liabilities | 10/49 | €850,125 | €799,733 | -€50,392 | -5.9% |
| Equity | 10/15 | -€320,495 | -€388,639 | -€68,144 | -21.3% |
| Contributions | 10/11 | €423,000 | €623,013 | +€200,013 | +47.3% |
| Reserves | 13 | €98,224 | €98,224 | = | 0.0% |
| Distributable reserves | 133 | €98,224 | €98,224 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€841,719 | -€1,109,875 | -€268,156 | -31.9% |
| Amounts payable | 17/49 | €1,170,619 | €1,188,371 | +€17,752 | +1.5% |
| Amounts payable after more than one year | 17 | €907,545 | €908,215 | +€670 | +0.1% |
| Financial debts | 170/4 | €907,545 | €908,215 | +€670 | +0.1% |
| Amounts payable within one year | 42/48 | €263,074 | €277,652 | +€14,578 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €122,701 | €61,073 | -€61,628 | -50.2% |
| Trade debts | 44 | €121,032 | €189,997 | +€68,965 | +57.0% |
| Suppliers | 440/4 | €121,032 | €189,997 | +€68,965 | +57.0% |
| Taxes, remuneration and social security | 45 | €19,119 | €26,582 | +€7,463 | +39.0% |
| Taxes | 450/3 | €1,718 | €5,856 | +€4,138 | +240.8% |
| Remuneration and social security | 454/9 | €17,400 | €20,725 | +€3,325 | +19.1% |
| Other amounts payable | 47/48 | €223 | - | -€223 | |
| Accrued charges and deferred income | 492/3 | - | €2,504 | +€2,504 | |
| Remuneration, social security and pensions | 62 | €191,462 | €123,655 | -€67,806 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,867 | €36,211 | +€2,344 | +6.9% |
| Other operating charges | 640/8 | €30,910 | €43,305 | +€12,395 | +40.1% |
| Gross operating margin | 9900 | -€248,129 | -€44,400 | +€203,729 | +82.1% |
| Operating profit (loss) | 9901 | -€504,367 | -€247,571 | +€256,796 | +50.9% |
| Financial income | 75/76B | €36 | €5 | -€31 | -87.1% |
| Recurring financial income | 75 | €36 | €5 | -€31 | -87.1% |
| Financial charges | 65/66B | €13,212 | €20,181 | +€6,969 | +52.7% |
| Recurring financial charges | 65 | €13,212 | €20,181 | +€6,969 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | -€517,544 | -€267,748 | +€249,796 | +48.3% |
| Income taxes | 67/77 | €409 | €409 | -€0 | -0.1% |
| Profit (loss) for the period | 9904 | -€517,953 | -€268,156 | +€249,796 | +48.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€517,953 | -€268,156 | +€249,796 | +48.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.