Thruvo: 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.
Thruvo
Largest movements
- Intangible fixed assets +€282,662
up €282,662 (+184.4%), from €153,264 to €435,926
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash -€80,560
down €80,560 (-9.9%), from €815,041 to €734,481
mainly Investment in fixed assets (net) (-€422,359) and Contributions, distributions and other (-€225,000)
- Tangible fixed assets -€42,324
down €42,324 (-23.8%), from €177,948 to €135,625
of which Furniture and vehicles: -€46,112
- Receivables within one year -€26,123
down €26,123 (-22.2%), from €117,429 to €91,306
of which Trade receivables: -€87,922
- Other debts +€224,508
up €224,508 (+18025.3%), from €1,246 to €225,754
- Trade debts -€114,427
down €114,427 (-49.0%), from €233,708 to €119,281
- Reserves -€99,686
down €99,686 (-18.7%), from €533,375 to €433,689
- Debts after one year +€70,519
up €70,519 (+24.7%), from €285,170 to €355,689
- Short-term financial debts -€69,480
no longer reported in 2025 (was €69,480)
- Staff costs +€490,241
up €490,241 (+79.2%), from €618,707 to €1.1m
- Gross operating margin +€361,040
up €361,040 (+31.4%), from €1.2m to €1.5m
- Depreciation +€83,930
up €83,930 (+85.2%), from €98,453 to €182,384
- Taxes -€54,509
down €54,509 (-46.7%), from €116,681 to €62,172
- Other operating charges +€17,262
up €17,262 (+206.2%), from €8,372 to €25,634
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 | €1,469,428 | €1,493,177 | +€23,749 | +1.6% |
| Fixed assets | 21/28 | €333,444 | €573,419 | +€239,976 | +72.0% |
| Intangible fixed assets | 21 | €153,264 | €435,926 | +€282,662 | +184.4% |
| Tangible fixed assets | 22/27 | €177,948 | €135,625 | -€42,324 | -23.8% |
| Land and buildings | 22 | €3,080 | €2,920 | -€160 | -5.2% |
| Plant, machinery and equipment | 23 | - | €14,644 | +€14,644 | |
| Furniture and vehicles | 24 | €148,351 | €102,239 | -€46,112 | -31.1% |
| Other tangible fixed assets | 26 | €26,517 | €15,822 | -€10,695 | -40.3% |
| Financial fixed assets | 28 | €2,231 | €1,868 | -€363 | -16.3% |
| Current assets | 29/58 | €1,135,985 | €919,758 | -€216,227 | -19.0% |
| Amounts receivable within one year | 40/41 | €117,429 | €91,306 | -€26,123 | -22.2% |
| Trade receivables | 40 | €101,949 | €14,027 | -€87,922 | -86.2% |
| Other amounts receivable | 41 | €15,480 | €77,279 | +€61,799 | +399.2% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €815,041 | €734,481 | -€80,560 | -9.9% |
| Deferred charges and accrued income | 490/1 | €103,515 | €93,971 | -€9,543 | -9.2% |
| Total equity and liabilities | 10/49 | €1,469,428 | €1,493,177 | +€23,749 | +1.6% |
| Equity | 10/15 | €665,808 | €566,123 | -€99,686 | -15.0% |
| Contributions | 10/11 | €132,434 | €132,434 | = | 0.0% |
| Reserves | 13 | €533,375 | €433,689 | -€99,686 | -18.7% |
| Distributable reserves | 133 | €533,375 | €433,689 | -€99,686 | -18.7% |
| Amounts payable | 17/49 | €803,620 | €927,054 | +€123,434 | +15.4% |
| Amounts payable after more than one year | 17 | €285,170 | €355,689 | +€70,519 | +24.7% |
| Financial debts | 170/4 | €285,170 | €355,689 | +€70,519 | +24.7% |
| Amounts payable within one year | 42/48 | €469,189 | €563,863 | +€94,674 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €86,641 | €129,481 | +€42,840 | +49.4% |
| Financial debts | 43 | €69,480 | - | -€69,480 | |
| Credit institutions | 430/8 | €69,480 | - | -€69,480 | |
| Trade debts | 44 | €233,708 | €119,281 | -€114,427 | -49.0% |
| Suppliers | 440/4 | €233,708 | €119,281 | -€114,427 | -49.0% |
| Taxes, remuneration and social security | 45 | €78,115 | €89,347 | +€11,232 | +14.4% |
| Remuneration and social security | 454/9 | €78,115 | €89,347 | +€11,232 | +14.4% |
| Other amounts payable | 47/48 | €1,246 | €225,754 | +€224,508 | +18025.3% |
| Accrued charges and deferred income | 492/3 | €49,260 | €7,502 | -€41,758 | -84.8% |
| Remuneration, social security and pensions | 62 | €618,707 | €1,108,948 | +€490,241 | +79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,453 | €182,384 | +€83,930 | +85.2% |
| Other operating charges | 640/8 | €8,372 | €25,634 | +€17,262 | +206.2% |
| Gross operating margin | 9900 | €1,150,534 | €1,511,575 | +€361,040 | +31.4% |
| Operating profit (loss) | 9901 | €425,002 | €194,609 | -€230,393 | -54.2% |
| Financial income | 75/76B | €10,666 | €9,968 | -€698 | -6.5% |
| Recurring financial income | 75 | €10,666 | €9,968 | -€698 | -6.5% |
| Financial charges | 65/66B | €11,882 | €17,091 | +€5,209 | +43.8% |
| Recurring financial charges | 65 | €11,882 | €17,091 | +€5,209 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €423,787 | €187,486 | -€236,301 | -55.8% |
| Income taxes | 67/77 | €116,681 | €62,172 | -€54,509 | -46.7% |
| Profit (loss) for the period | 9904 | €307,106 | €125,314 | -€181,791 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €307,106 | €125,314 | -€181,791 | -59.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.