THUR: 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.
THUR
Largest movements
- Tangible fixed assets -€52,109
down €52,109 (-17.8%), from €292,637 to €240,529
of which Land and buildings: -€48,450
- Reserves -€41,982
down €41,982 (-12.3%), from €342,390 to €300,408
of which Distributable reserves: -€41,982
- Trade debts +€16,617
up €16,617 (+451%), from €3,688 to €20,305
- Tax, wage and social debts -€15,871
down €15,871 (-52.2%), from €30,398 to €14,526
- Debts after one year -€7,259
down €7,259 (-56.5%), from €12,847 to €5,588
- Gross operating margin -€27,585
down €27,585 (-13.9%), from €198,225 to €170,640
- Depreciation +€13,784
up €13,784 (+17.2%), from €79,969 to €93,753
- Taxes -€11,445
down €11,445 (-42.3%), from €27,063 to €15,618
- Other operating charges +€7,814
up €7,814 (+756%), from €1,034 to €8,848
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €446,510 | €397,717 | -€48,793 | -10.9% |
| Fixed assets | 21/28 | €292,637 | €240,529 | -€52,109 | -17.8% |
| Tangible fixed assets | 22/27 | €292,637 | €240,529 | -€52,109 | -17.8% |
| Land and buildings | 22 | €211,188 | €162,739 | -€48,450 | -22.9% |
| Plant, machinery and equipment | 23 | €36,415 | €32,560 | -€3,855 | -10.6% |
| Furniture and vehicles | 24 | €45,034 | €38,430 | -€6,604 | -14.7% |
| Other tangible fixed assets | 26 | - | €6,800 | +€6,800 | |
| Current assets | 29/58 | €153,872 | €157,189 | +€3,316 | +2.2% |
| Amounts receivable within one year | 40/41 | €84,194 | €87,684 | +€3,489 | +4.1% |
| Trade receivables | 40 | €67,484 | €56,208 | -€11,276 | -16.7% |
| Other amounts receivable | 41 | €16,710 | €31,475 | +€14,765 | +88.4% |
| Cash at bank and in hand | 54/58 | €68,438 | €68,685 | +€247 | +0.4% |
| Deferred charges and accrued income | 490/1 | €1,240 | €820 | -€420 | -33.9% |
| Total equity and liabilities | 10/49 | €446,510 | €397,717 | -€48,793 | -10.9% |
| Equity | 10/15 | €390,795 | €348,813 | -€41,982 | -10.7% |
| Contributions | 10/11 | €48,405 | €48,405 | = | 0.0% |
| Reserves | 13 | €342,390 | €300,408 | -€41,982 | -12.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €342,390 | €300,408 | -€41,982 | -12.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €55,715 | €48,904 | -€6,811 | -12.2% |
| Amounts payable after more than one year | 17 | €12,847 | €5,588 | -€7,259 | -56.5% |
| Financial debts | 170/4 | €12,847 | €5,588 | -€7,259 | -56.5% |
| Amounts payable within one year | 42/48 | €42,868 | €43,316 | +€448 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €7,046 | €7,259 | +€213 | +3.0% |
| Trade debts | 44 | €3,688 | €20,305 | +€16,617 | +451% |
| Suppliers | 440/4 | €3,688 | €20,305 | +€16,617 | +451% |
| Taxes, remuneration and social security | 45 | €30,398 | €14,526 | -€15,871 | -52.2% |
| Taxes | 450/3 | €30,398 | €14,526 | -€15,871 | -52.2% |
| Other amounts payable | 47/48 | €1,737 | €1,226 | -€510 | -29.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,969 | €93,753 | +€13,784 | +17.2% |
| Other operating charges | 640/8 | €1,034 | €8,848 | +€7,814 | +756% |
| Gross operating margin | 9900 | €198,225 | €170,640 | -€27,585 | -13.9% |
| Operating profit (loss) | 9901 | €117,222 | €68,039 | -€49,183 | -42.0% |
| Financial income | 75/76B | €1,593 | €0 | -€1,593 | -100.0% |
| Recurring financial income | 75 | €1,593 | €0 | -€1,593 | -100.0% |
| Financial charges | 65/66B | €1,395 | €653 | -€742 | -53.2% |
| Recurring financial charges | 65 | €1,395 | €653 | -€742 | -53.2% |
| Profit (loss) for the period before taxes | 9903 | €117,421 | €67,387 | -€50,034 | -42.6% |
| Income taxes | 67/77 | €27,063 | €15,618 | -€11,445 | -42.3% |
| Profit (loss) for the period | 9904 | €90,357 | €51,768 | -€38,589 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €90,357 | €51,768 | -€38,589 | -42.7% |
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.