THRONE: 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.
THRONE
Largest movements
- Tangible fixed assets +€22,337
up €22,337 (+36.1%), from €61,859 to €84,195
of which Furniture and vehicles: +€20,970
- Cash +€20,402
up €20,402 (+56.8%), from €35,914 to €56,316
mainly Net result for the year (+€82,486) and Depreciation (+€23,525)
- Receivables within one year -€16,083
down €16,083 (-99.4%), from €16,177 to €94
of which Trade receivables: -€14,718
- Tax, wage and social debts +€21,277
up €21,277 (+195.1%), from €10,905 to €32,182
- Other debts -€12,287
down €12,287 (-21.0%), from €58,393 to €46,106
- Current portion of long-term debt +€10,567
up €10,567 (+57.0%), from €18,530 to €29,097
- Debts after one year +€5,404
up €5,404 (+22.1%), from €24,413 to €29,817
- Trade debts +€1,916
up €1,916 (+85.3%), from €2,247 to €4,163
- Gross operating margin +€16,169
up €16,169 (+14.0%), from €115,310 to €131,479
- Staff costs -€7,879
no longer reported in 2026 (was €7,879)
- Taxes +€3,450
up €3,450 (+19.7%), from €17,536 to €20,986
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €117,488 | €144,365 | +€26,877 | +22.9% |
| Fixed assets | 21/28 | €61,859 | €84,195 | +€22,337 | +36.1% |
| Tangible fixed assets | 22/27 | €61,859 | €84,195 | +€22,337 | +36.1% |
| Plant, machinery and equipment | 23 | - | €1,367 | +€1,367 | |
| Furniture and vehicles | 24 | €61,859 | €82,829 | +€20,970 | +33.9% |
| Current assets | 29/58 | €55,629 | €60,170 | +€4,540 | +8.2% |
| Amounts receivable within one year | 40/41 | €16,177 | €94 | -€16,083 | -99.4% |
| Trade receivables | 40 | €14,718 | - | -€14,718 | |
| Other amounts receivable | 41 | €1,459 | €94 | -€1,365 | -93.5% |
| Cash at bank and in hand | 54/58 | €35,914 | €56,316 | +€20,402 | +56.8% |
| Deferred charges and accrued income | 490/1 | €3,538 | €3,759 | +€221 | +6.3% |
| Total equity and liabilities | 10/49 | €117,488 | €144,365 | +€26,877 | +22.9% |
| Equity | 10/15 | €3,000 | €3,000 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Amounts payable | 17/49 | €114,488 | €141,365 | +€26,877 | +23.5% |
| Amounts payable after more than one year | 17 | €24,413 | €29,817 | +€5,404 | +22.1% |
| Financial debts | 170/4 | €24,413 | €29,817 | +€5,404 | +22.1% |
| Amounts payable within one year | 42/48 | €90,075 | €111,548 | +€21,473 | +23.8% |
| Current portion of amounts payable after more than one year | 42 | €18,530 | €29,097 | +€10,567 | +57.0% |
| Trade debts | 44 | €2,247 | €4,163 | +€1,916 | +85.3% |
| Suppliers | 440/4 | €2,247 | €4,163 | +€1,916 | +85.3% |
| Taxes, remuneration and social security | 45 | €10,905 | €32,182 | +€21,277 | +195.1% |
| Taxes | 450/3 | €10,905 | €32,182 | +€21,277 | +195.1% |
| Other amounts payable | 47/48 | €58,393 | €46,106 | -€12,287 | -21.0% |
| Non-recurring operating income | 76A | - | €7,777 | +€7,777 | |
| Remuneration, social security and pensions | 62 | €7,879 | - | -€7,879 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,648 | €23,525 | +€877 | +3.9% |
| Other operating charges | 640/8 | €989 | €1,943 | +€955 | +96.6% |
| Gross operating margin | 9900 | €115,310 | €131,479 | +€16,169 | +14.0% |
| Operating profit (loss) | 9901 | €83,795 | €106,010 | +€22,215 | +26.5% |
| Financial income | 75/76B | €38 | €75 | +€37 | +97.7% |
| Recurring financial income | 75 | €38 | €75 | +€37 | +97.7% |
| Financial charges | 65/66B | €2,599 | €2,613 | +€14 | +0.6% |
| Recurring financial charges | 65 | €2,599 | €2,613 | +€14 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €81,234 | €103,472 | +€22,238 | +27.4% |
| Income taxes | 67/77 | €17,536 | €20,986 | +€3,450 | +19.7% |
| Profit (loss) for the period | 9904 | €63,699 | €82,486 | +€18,788 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,699 | €82,486 | +€18,788 | +29.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.