THRUSTPUNT: 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.
What changed
THRUSTPUNT
NACE 86.951, Physiotherapy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,268
2024 · €6,913-€10,181
Equity
€300,948
2024 · €304,216-€3,268
Cash
€22,266
2024 · €21,755+€511
Balance sheet total
€705,096
2024 · €735,516-€30,420
Largest movements
Assets
- Tangible fixed assets -€29,994
down €29,994 (-4.2%), from €708,873 to €678,880
of which Land and buildings: -€23,704
Equity and liabilities
- Debts after one year -€19,702
down €19,702 (-7.1%), from €277,325 to €257,623
Income statement
- Gross operating margin -€15,445
down €15,445 (-17.4%), from €88,812 to €73,367
- Financial charges -€5,359
down €5,359 (-27.2%), from €19,733 to €14,374
- Taxes -€4,726
down €4,726 (-98.0%), from €4,822 to €96
- Depreciation +€4,317
up €4,317 (+9.5%), from €45,418 to €49,736
- Staff costs +€1,519
up €1,519 (+23.0%), from €6,604 to €8,123
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.
Result 2024
€6,913
Gross operating margin
-€15,445
Staff costs
-€1,519
Depreciation
-€4,317
Other operating charges
+€931
Financial income
+€86
Financial charges
+€5,359
Taxes
+€4,726
Result 2025
-€3,268
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.
From operations
+€36,740
Investment
-€19,742
Financing
-€16,487
Cash 2024
€21,755
From operations (derived)
+€36,740
Net result for the year
-€3,268
Depreciation
+€49,736
Receivables within one year
-€3,385
Deferred charges and accrued income
+€4,322
Trade debts
-€564
Tax, wage and social debts
+€769
Other debts
-€5,478
Accrued charges and deferred income
-€5,393
Investment (derived)
-€19,742
Investment in fixed assets (net)
-€19,742
Financing
-€16,487
Debts after one year
-€19,702
Current portion of long-term debt
+€3,215
Cash 2025
€22,266
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €735,516 | €705,096 | -€30,420 | -4.1% |
| Fixed assets | 21/28 | €708,873 | €678,880 | -€29,994 | -4.2% |
| Tangible fixed assets | 22/27 | €708,873 | €678,880 | -€29,994 | -4.2% |
| Land and buildings | 22 | €601,252 | €577,549 | -€23,704 | -3.9% |
| Plant, machinery and equipment | 23 | €13,364 | €25,060 | +€11,696 | +87.5% |
| Furniture and vehicles | 24 | €66,613 | €54,147 | -€12,466 | -18.7% |
| Other tangible fixed assets | 26 | €27,644 | €22,124 | -€5,520 | -20.0% |
| Current assets | 29/58 | €26,642 | €26,216 | -€426 | -1.6% |
| Amounts receivable within one year | 40/41 | €565 | €3,950 | +€3,385 | +598.6% |
| Other amounts receivable | 41 | €565 | €3,950 | +€3,385 | +598.6% |
| Cash at bank and in hand | 54/58 | €21,755 | €22,266 | +€511 | +2.4% |
| Deferred charges and accrued income | 490/1 | €4,322 | - | -€4,322 | |
| Total equity and liabilities | 10/49 | €735,516 | €705,096 | -€30,420 | -4.1% |
| Equity | 10/15 | €304,216 | €300,948 | -€3,268 | -1.1% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Capital | 10 | €225,000 | €225,000 | = | 0.0% |
| Issued capital | 100 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €87,425 | €87,425 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,781 | €24,781 | = | 0.0% |
| Legal reserve | 130 | €24,781 | €24,781 | = | 0.0% |
| Distributable reserves | 133 | €62,644 | €62,644 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,210 | -€11,478 | -€3,268 | -39.8% |
| Amounts payable | 17/49 | €431,300 | €404,148 | -€27,152 | -6.3% |
| Amounts payable after more than one year | 17 | €277,325 | €257,623 | -€19,702 | -7.1% |
| Financial debts | 170/4 | €277,325 | €257,623 | -€19,702 | -7.1% |
| Amounts payable within one year | 42/48 | €146,582 | €144,525 | -€2,057 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €75,592 | €78,807 | +€3,215 | +4.3% |
| Trade debts | 44 | €2,752 | €2,188 | -€564 | -20.5% |
| Suppliers | 440/4 | €2,752 | €2,188 | -€564 | -20.5% |
| Taxes, remuneration and social security | 45 | €3,219 | €3,988 | +€769 | +23.9% |
| Taxes | 450/3 | €3,219 | €3,521 | +€302 | +9.4% |
| Remuneration and social security | 454/9 | - | €467 | +€467 | |
| Other amounts payable | 47/48 | €65,019 | €59,541 | -€5,478 | -8.4% |
| Accrued charges and deferred income | 492/3 | €7,393 | €2,000 | -€5,393 | -72.9% |
| Remuneration, social security and pensions | 62 | €6,604 | €8,123 | +€1,519 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,418 | €49,736 | +€4,317 | +9.5% |
| Other operating charges | 640/8 | €5,330 | €4,399 | -€931 | -17.5% |
| Gross operating margin | 9900 | €88,812 | €73,367 | -€15,445 | -17.4% |
| Operating profit (loss) | 9901 | €31,459 | €11,108 | -€20,351 | -64.7% |
| Financial income | 75/76B | €9 | €94 | +€86 | +971.7% |
| Recurring financial income | 75 | €9 | €94 | +€86 | +971.7% |
| Financial charges | 65/66B | €19,733 | €14,374 | -€5,359 | -27.2% |
| Recurring financial charges | 65 | €19,733 | €14,374 | -€5,359 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €11,735 | -€3,172 | -€14,907 | |
| Income taxes | 67/77 | €4,822 | €96 | -€4,726 | -98.0% |
| Profit (loss) for the period | 9904 | €6,913 | -€3,268 | -€10,181 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,913 | -€3,268 | -€10,181 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.