Thunder Holdco BE: 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.
What changed
Thunder Holdco BE
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.8m
2024 · -€869,102-€932,055
Equity
€59.8m
2024 · €68.0m-€8.2m
Cash
€45,683
2024 · €72,385-€26,702
Balance sheet total
€91.3m
2024 · €91.3m-€21,199
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€8.2m
down €8.2m, from €6.6m to -€1.6m
- Debts after one year +€7.5m
up €7.5m (+33.0%), from €22.8m to €30.3m
- Accrued charges and deferred income +€1.1m
up €1.1m (+1,391%), from €81,643 to €1.2m
Income statement
- Financial income -€1.2m
down €1.2m (-94.8%), from €1.3m to €67,071
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
-€869,102
Other operating charges
-€160,258
Other operating items
+€61,608
Financial income
-€1.2m
Financial charges
+€379,528
Result 2025
-€1.8m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€898,142
Investment
€0
Financing
+€871,440
Cash 2024
€72,385
From operations (derived)
-€898,142
Net result for the year
-€1.8m
Receivables within one year
-€5,502
Trade debts
-€227,256
Accrued charges and deferred income
+€1.1m
Financing
+€871,440
Debts after one year
+€7.5m
Current portion of long-term debt
-€243,736
Contributions, distributions and other
-€6.4m
Cash 2025
€45,683
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €91,335,101 | €91,313,902 | -€21,199 | 0.0% |
| Fixed assets | 21/28 | €91,259,569 | €91,259,569 | = | 0.0% |
| Financial fixed assets | 28 | €91,259,569 | €91,259,569 | = | 0.0% |
| Affiliated companies | 280/1 | €91,259,569 | €91,259,569 | = | 0.0% |
| Participating interests | 280 | €91,259,569 | €91,259,569 | = | 0.0% |
| Current assets | 29/58 | €75,532 | €54,333 | -€21,199 | -28.1% |
| Amounts receivable within one year | 40/41 | €3,148 | €8,650 | +€5,502 | +175% |
| Other amounts receivable | 41 | €3,148 | €8,650 | +€5,502 | +175% |
| Cash at bank and in hand | 54/58 | €72,385 | €45,683 | -€26,702 | -36.9% |
| Total equity and liabilities | 10/49 | €91,335,101 | €91,313,902 | -€21,199 | 0.0% |
| Equity | 10/15 | €68,006,318 | €59,796,485 | -€8.2m | -12.1% |
| Contributions | 10/11 | €60,382,217 | €60,384,074 | +€1,857 | 0.0% |
| Capital | 10 | €59,391,219 | €59,391,219 | = | 0.0% |
| Issued capital | 100 | €59,391,219 | €59,391,219 | = | 0.0% |
| Contributions outside capital | 11 | €990,998 | €992,855 | +€1,857 | +0.2% |
| Other | 1109/19 | €990,998 | €992,855 | +€1,857 | +0.2% |
| Reserves | 13 | €1,030,828 | €1,030,828 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,030,828 | €1,030,828 | = | 0.0% |
| Legal reserve | 130 | €1,030,828 | €1,030,828 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,593,273 | -€1,618,417 | -€8.2m | |
| Amounts payable | 17/49 | €23,328,783 | €31,517,417 | +€8.2m | +35.1% |
| Amounts payable after more than one year | 17 | €22,776,147 | €30,300,000 | +€7.5m | +33.0% |
| Financial debts | 170/4 | €22,776,147 | €30,300,000 | +€7.5m | +33.0% |
| Subordinated loans | 170 | €9,449,770 | - | -€9.4m | |
| Credit institutions | 173 | €13,326,377 | - | -€13.3m | |
| Other loans | 174 | - | €30,300,000 | +€30.3m | |
| Amounts payable within one year | 42/48 | €470,992 | - | -€470,992 | |
| Current portion of amounts payable after more than one year | 42 | €243,736 | - | -€243,736 | |
| Trade debts | 44 | €227,256 | - | -€227,256 | |
| Suppliers | 440/4 | €227,256 | - | -€227,256 | |
| Accrued charges and deferred income | 492/3 | €81,643 | €1,217,417 | +€1.1m | +1,391% |
| Operating charges | 60/66A | €119,135 | €217,785 | +€98,650 | +82.8% |
| Services and other goods | 61 | €118,027 | €56,419 | -€61,608 | -52.2% |
| Other operating charges | 640/8 | €1,108 | €161,366 | +€160,258 | +14,463% |
| Operating profit (loss) | 9901 | -€119,135 | -€217,785 | -€98,650 | -82.8% |
| Financial income | 75/76B | €1,280,003 | €67,071 | -€1.2m | -94.8% |
| Recurring financial income | 75 | €1,280,003 | €67,071 | -€1.2m | -94.8% |
| Income from financial fixed assets | 750 | €1,280,000 | €50,000 | -€1.2m | -96.1% |
| Income from current assets | 751 | - | €17,071 | +€17,071 | |
| Other financial income | 752/9 | €3 | €0 | -€3 | -99.4% |
| Financial charges | 65/66B | €2,029,970 | €1,650,442 | -€379,528 | -18.7% |
| Recurring financial charges | 65 | €2,029,970 | €1,650,442 | -€379,528 | -18.7% |
| Debt charges | 650 | €2,029,004 | €1,649,693 | -€379,311 | -18.7% |
| Other financial charges | 652/9 | €966 | €749 | -€217 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | -€869,102 | -€1,801,157 | -€932,055 | -107% |
| Profit (loss) for the period | 9904 | -€869,102 | -€1,801,157 | -€932,055 | -107% |
| Profit (loss) for the period to be appropriated | 9905 | -€869,102 | -€1,801,157 | -€932,055 | -107% |
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 24 October 2026 via checked.be.