THUBOCO: 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.
THUBOCO
Largest movements
- Receivables within one year -€92,757
down €92,757 (-99.7%), from €93,043 to €286
of which Trade receivables: -€93,043
- Cash +€49,595
up €49,595 (+17101624.1%), from €0 to €49,595
mainly Receivables within one year (+€92,757) and Depreciation (+€2,191)
- Tangible fixed assets +€6,751
up €6,751 (+24.6%), from €27,461 to €34,212
of which Furniture and vehicles: +€6,751
- Profit (loss) carried forward -€26,334
down €26,334 (-6.6%), from €398,192 to €371,858
- Trade debts -€7,253
down €7,253 (-60.6%), from €11,961 to €4,708
- Write-downs +€59,160
new in 2025: €59,160
- Gross operating margin +€39,408
up €39,408, from -€3,561 to €35,847
- Taxes -€1,702
down €1,702, from €1,416 to -€286
- Depreciation +€1,041
up €1,041 (+90.5%), from €1,150 to €2,191
- Financial income +€967
new in 2025: €967
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 | €429,866 | €394,985 | -€34,881 | -8.1% |
| Fixed assets | 21/28 | €27,461 | €34,212 | +€6,751 | +24.6% |
| Tangible fixed assets | 22/27 | €27,461 | €34,212 | +€6,751 | +24.6% |
| Plant, machinery and equipment | 23 | €26,194 | €26,194 | +€0 | 0.0% |
| Furniture and vehicles | 24 | €1,267 | €8,018 | +€6,751 | +532.9% |
| Current assets | 29/58 | €402,406 | €360,773 | -€41,633 | -10.3% |
| Amounts receivable after more than one year | 29 | €305,000 | €305,000 | = | 0.0% |
| Other amounts receivable | 291 | €305,000 | €305,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €93,043 | €286 | -€92,757 | -99.7% |
| Trade receivables | 40 | €93,043 | - | -€93,043 | |
| Other amounts receivable | 41 | - | €286 | +€286 | |
| Cash at bank and in hand | 54/58 | €0 | €49,595 | +€49,595 | +17101624.1% |
| Deferred charges and accrued income | 490/1 | €4,363 | €5,892 | +€1,529 | +35.1% |
| Total equity and liabilities | 10/49 | €429,866 | €394,985 | -€34,881 | -8.1% |
| Equity | 10/15 | €406,426 | €380,092 | -€26,334 | -6.5% |
| Contributions | 10/11 | €6,334 | €6,334 | +€0 | 0.0% |
| Reserves | 13 | €1,900 | €1,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €398,192 | €371,858 | -€26,334 | -6.6% |
| Amounts payable | 17/49 | €23,441 | €14,893 | -€8,548 | -36.5% |
| Amounts payable within one year | 42/48 | €23,441 | €14,893 | -€8,548 | -36.5% |
| Financial debts | 43 | €3,349 | - | -€3,349 | |
| Credit institutions | 430/8 | €3,349 | - | -€3,349 | |
| Trade debts | 44 | €11,961 | €4,708 | -€7,253 | -60.6% |
| Suppliers | 440/4 | €11,961 | €4,708 | -€7,253 | -60.6% |
| Taxes, remuneration and social security | 45 | €8,130 | €10,185 | +€2,055 | +25.3% |
| Taxes | 450/3 | €8,130 | €10,185 | +€2,055 | +25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,150 | €2,191 | +€1,041 | +90.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €59,160 | +€59,160 | |
| Other operating charges | 640/8 | €1,665 | €1,316 | -€349 | -20.9% |
| Gross operating margin | 9900 | -€3,561 | €35,847 | +€39,408 | |
| Operating profit (loss) | 9901 | -€6,376 | -€26,820 | -€20,444 | -320.6% |
| Financial income | 75/76B | - | €967 | +€967 | |
| Recurring financial income | 75 | - | €967 | +€967 | |
| Financial charges | 65/66B | €872 | €767 | -€105 | -12.0% |
| Recurring financial charges | 65 | €872 | €767 | -€105 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,248 | -€26,620 | -€19,372 | -267.3% |
| Income taxes | 67/77 | €1,416 | -€286 | -€1,702 | |
| Profit (loss) for the period | 9904 | -€8,663 | -€26,334 | -€17,671 | -204.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,663 | -€26,334 | -€17,671 | -204.0% |
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 12 October 2026 via checked.be.