THROWN ASSOCIATES: 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.
THROWN ASSOCIATES
Largest movements
- Receivables within one year +€12,207
up €12,207 (+48.5%), from €25,174 to €37,381
of which Trade receivables: +€17,958
- Tangible fixed assets -€1,240
down €1,240 (-68.7%), from €1,804 to €564
- Cash -€933
down €933 (-95.4%), from €977 to €44
mainly Receivables within one year (-€12,207) and Short-term financial debts (-€112)
- Other debts +€6,728
new in 2025: €6,728
- Trade debts +€3,240
up €3,240 (+82.3%), from €3,939 to €7,179
- Gross operating margin +€14,019
up €14,019, from -€4,461 to €9,558
- Write-downs +€5,000
new in 2025: €5,000
- Other operating charges +€845
up €845 (+137%), from €618 to €1,464
- Financial income -€275
down €275 (-99.3%), from €277 to €2
- Financial charges -€237
down €237 (-12.4%), from €1,916 to €1,678
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 | €27,955 | €37,989 | +€10,034 | +35.9% |
| Fixed assets | 21/28 | €1,804 | €564 | -€1,240 | -68.7% |
| Tangible fixed assets | 22/27 | €1,804 | €564 | -€1,240 | -68.7% |
| Furniture and vehicles | 24 | €1,804 | €564 | -€1,240 | -68.7% |
| Current assets | 29/58 | €26,151 | €37,425 | +€11,274 | +43.1% |
| Amounts receivable within one year | 40/41 | €25,174 | €37,381 | +€12,207 | +48.5% |
| Trade receivables | 40 | €19,075 | €37,034 | +€17,958 | +94.1% |
| Other amounts receivable | 41 | €6,098 | €347 | -€5,751 | -94.3% |
| Cash at bank and in hand | 54/58 | €977 | €44 | -€933 | -95.4% |
| Total equity and liabilities | 10/49 | €27,955 | €37,989 | +€10,034 | +35.9% |
| Equity | 10/15 | €13,784 | €13,786 | +€2 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,300 | €1,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,300 | €1,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,300 | €1,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,116 | -€6,114 | +€2 | 0.0% |
| Amounts payable | 17/49 | €14,170 | €24,203 | +€10,033 | +70.8% |
| Amounts payable within one year | 42/48 | €14,170 | €24,203 | +€10,033 | +70.8% |
| Current portion of amounts payable after more than one year | 42 | - | €0 | = | |
| Financial debts | 43 | €9,994 | €9,882 | -€112 | -1.1% |
| Credit institutions | 430/8 | €9,994 | €9,882 | -€112 | -1.1% |
| Trade debts | 44 | €3,939 | €7,179 | +€3,240 | +82.3% |
| Suppliers | 440/4 | €3,939 | €7,179 | +€3,240 | +82.3% |
| Taxes, remuneration and social security | 45 | €237 | €413 | +€176 | +74.3% |
| Taxes | 450/3 | €237 | €413 | +€176 | +74.3% |
| Other amounts payable | 47/48 | - | €6,728 | +€6,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,240 | €1,240 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €618 | €1,464 | +€845 | +137% |
| Gross operating margin | 9900 | -€4,461 | €9,558 | +€14,019 | |
| Operating profit (loss) | 9901 | -€6,319 | €1,854 | +€8,173 | |
| Financial income | 75/76B | €277 | €2 | -€275 | -99.3% |
| Recurring financial income | 75 | €277 | €2 | -€275 | -99.3% |
| Financial charges | 65/66B | €1,916 | €1,678 | -€237 | -12.4% |
| Recurring financial charges | 65 | €1,916 | €1,678 | -€237 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,958 | €178 | +€8,136 | |
| Income taxes | 67/77 | - | €176 | +€176 | |
| Profit (loss) for the period | 9904 | -€7,958 | €2 | +€7,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,958 | €2 | +€7,960 |
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 23 October 2026 via checked.be.