THRUNO: 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.
THRUNO
Largest movements
- Receivables within one year +€161,718
up €161,718 (+182.0%), from €88,868 to €250,585
- Tangible fixed assets -€115,061
down €115,061 (-3.3%), from €3.5m to €3.4m
of which Land and buildings: -€114,458
- Profit (loss) carried forward -€116,919
down €116,919 (-23.8%), from -€490,836 to -€607,755
- Other debts +€86,654
up €86,654 (+471.6%), from €18,375 to €105,029
- Debts after one year +€78,779
up €78,779 (+1.7%), from €4.7m to €4.7m
- Gross operating margin +€219,710
up €219,710, from -€53,094 to €166,616
- Financial charges +€53,443
up €53,443 (+45.0%), from €118,733 to €172,175
- Depreciation -€27,532
down €27,532 (-19.3%), from €142,593 to €115,061
- Financial income +€7,038
new in 2025: €7,038
- Other operating charges +€3,337
new in 2025: €3,337
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.
Cash bridge derived
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 | €5,147,596 | €5,207,688 | +€60,093 | +1.2% |
| Fixed assets | 21/28 | €4,671,221 | €4,556,160 | -€115,061 | -2.5% |
| Tangible fixed assets | 22/27 | €3,521,221 | €3,406,160 | -€115,061 | -3.3% |
| Land and buildings | 22 | €3,517,055 | €3,402,598 | -€114,458 | -3.3% |
| Furniture and vehicles | 24 | €4,166 | €3,562 | -€603 | -14.5% |
| Financial fixed assets | 28 | €1,150,000 | €1,150,000 | = | 0.0% |
| Current assets | 29/58 | €476,375 | €651,528 | +€175,153 | +36.8% |
| Amounts receivable within one year | 40/41 | €88,868 | €250,585 | +€161,718 | +182.0% |
| Other amounts receivable | 41 | €88,868 | €250,585 | +€161,718 | +182.0% |
| Current investments | 50/53 | €385,000 | €385,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €723 | €15,658 | +€14,935 | +2065.0% |
| Deferred charges and accrued income | 490/1 | €1,784 | €285 | -€1,499 | -84.0% |
| Total equity and liabilities | 10/49 | €5,147,596 | €5,207,688 | +€60,093 | +1.2% |
| Equity | 10/15 | -€460,836 | -€577,755 | -€116,919 | -25.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€490,836 | -€607,755 | -€116,919 | -23.8% |
| Amounts payable | 17/49 | €5,608,431 | €5,785,443 | +€177,012 | +3.2% |
| Amounts payable after more than one year | 17 | €4,656,879 | €4,735,658 | +€78,779 | +1.7% |
| Financial debts | 170/4 | €4,656,879 | €4,735,658 | +€78,779 | +1.7% |
| Amounts payable within one year | 42/48 | €951,553 | €1,038,860 | +€87,307 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €32,567 | €33,831 | +€1,264 | +3.9% |
| Financial debts | 43 | €900,000 | €900,000 | = | 0.0% |
| Credit institutions | 430/8 | €900,000 | €900,000 | = | 0.0% |
| Trade debts | 44 | €611 | - | -€611 | |
| Suppliers | 440/4 | €611 | - | -€611 | |
| Other amounts payable | 47/48 | €18,375 | €105,029 | +€86,654 | +471.6% |
| Accrued charges and deferred income | 492/3 | - | €10,925 | +€10,925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,593 | €115,061 | -€27,532 | -19.3% |
| Other operating charges | 640/8 | - | €3,337 | +€3,337 | |
| Gross operating margin | 9900 | -€53,094 | €166,616 | +€219,710 | |
| Operating profit (loss) | 9901 | -€195,687 | €48,218 | +€243,905 | |
| Financial income | 75/76B | - | €7,038 | +€7,038 | |
| Recurring financial income | 75 | - | €7,038 | +€7,038 | |
| Financial charges | 65/66B | €118,733 | €172,175 | +€53,443 | +45.0% |
| Recurring financial charges | 65 | €118,733 | €172,175 | +€53,443 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | -€314,419 | -€116,919 | +€197,500 | +62.8% |
| Profit (loss) for the period | 9904 | -€314,419 | -€116,919 | +€197,500 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€314,419 | -€116,919 | +€197,500 | +62.8% |
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 10 October 2026 via checked.be.