THURBAU: 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.
THURBAU
Largest movements
- Receivables after one year -€65,000
down €65,000 (-62.5%), from €104,049 to €39,049
- Receivables within one year +€8,067
up €8,067 (+42.8%), from €18,854 to €26,920
of which Other amounts receivable: +€9,156
- Tangible fixed assets +€5,538
up €5,538 (+44.9%), from €12,332 to €17,870
of which Furniture and vehicles: +€5,538
- Deferred charges and accrued income -€1,635
down €1,635 (-37.9%), from €4,319 to €2,684
- Debts after one year -€44,461
down €44,461 (-72.1%), from €61,664 to €17,203
- Profit (loss) carried forward -€9,248
down €9,248 (-70.4%), from €13,142 to €3,894
- Gross operating margin -€6,738
down €6,738 (-734.5%), from -€917 to -€7,656
- Financial income -€1,635
down €1,635 (-37.9%), from €4,319 to €2,684
- Depreciation +€613
up €613 (+170.2%), from €360 to €972
- Other operating charges -€336
down €336 (-10.0%), from €3,369 to €3,033
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 | €143,267 | €90,011 | -€53,256 | -37.2% |
| Fixed assets | 21/28 | €15,500 | €21,038 | +€5,538 | +35.7% |
| Tangible fixed assets | 22/27 | €12,332 | €17,870 | +€5,538 | +44.9% |
| Furniture and vehicles | 24 | €1,218 | €6,757 | +€5,538 | +454.6% |
| Other tangible fixed assets | 26 | €11,113 | €11,113 | = | 0.0% |
| Financial fixed assets | 28 | €3,168 | €3,168 | = | 0.0% |
| Current assets | 29/58 | €127,767 | €68,973 | -€58,794 | -46.0% |
| Amounts receivable after more than one year | 29 | €104,049 | €39,049 | -€65,000 | -62.5% |
| Other amounts receivable | 291 | €104,049 | €39,049 | -€65,000 | -62.5% |
| Amounts receivable within one year | 40/41 | €18,854 | €26,920 | +€8,067 | +42.8% |
| Trade receivables | 40 | €1,089 | - | -€1,089 | |
| Other amounts receivable | 41 | €17,764 | €26,920 | +€9,156 | +51.5% |
| Cash at bank and in hand | 54/58 | €545 | €320 | -€226 | -41.4% |
| Deferred charges and accrued income | 490/1 | €4,319 | €2,684 | -€1,635 | -37.9% |
| Total equity and liabilities | 10/49 | €143,267 | €90,011 | -€53,256 | -37.2% |
| Equity | 10/15 | €81,342 | €72,094 | -€9,248 | -11.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,142 | €3,894 | -€9,248 | -70.4% |
| Amounts payable | 17/49 | €61,925 | €17,917 | -€44,008 | -71.1% |
| Amounts payable after more than one year | 17 | €61,664 | €17,203 | -€44,461 | -72.1% |
| Financial debts | 170/4 | €61,664 | €17,203 | -€44,461 | -72.1% |
| Amounts payable within one year | 42/48 | €260 | €713 | +€453 | +173.9% |
| Trade debts | 44 | - | €94 | +€94 | |
| Suppliers | 440/4 | - | €94 | +€94 | |
| Taxes, remuneration and social security | 45 | €260 | €619 | +€359 | +137.8% |
| Taxes | 450/3 | €260 | €619 | +€359 | +137.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360 | €972 | +€613 | +170.2% |
| Other operating charges | 640/8 | €3,369 | €3,033 | -€336 | -10.0% |
| Gross operating margin | 9900 | -€917 | -€7,656 | -€6,738 | -734.5% |
| Operating profit (loss) | 9901 | -€4,646 | -€11,661 | -€7,015 | -151.0% |
| Financial income | 75/76B | €4,319 | €2,684 | -€1,635 | -37.9% |
| Recurring financial income | 75 | €4,319 | €2,684 | -€1,635 | -37.9% |
| Financial charges | 65/66B | €51 | €61 | +€10 | +19.6% |
| Recurring financial charges | 65 | €51 | €61 | +€10 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | -€378 | -€9,037 | -€8,660 | -2293.5% |
| Income taxes | 67/77 | €260 | €210 | -€50 | -19.2% |
| Profit (loss) for the period | 9904 | -€638 | -€9,248 | -€8,610 | -1349.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€638 | -€9,248 | -€8,610 | -1349.4% |
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 4 October 2026 via checked.be.