THURSDAYS: 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.
THURSDAYS
Largest movements
- Cash +€5,742
up €5,742 (+37.3%), from €15,380 to €21,121
mainly Trade debts (+€14,773) and Depreciation (+€13,680)
- Financial fixed assets -€2,317
no longer reported in 2025 (was €2,317)
- Receivables within one year +€2,172
up €2,172 (+55.2%), from €3,937 to €6,110
of which Other amounts receivable: +€2,011
- Trade debts +€14,773
up €14,773 (+263%), from €5,613 to €20,385
- Other debts -€13,797
down €13,797 (-30.3%), from €45,527 to €31,730
- Reserves +€5,397
up €5,397 (+5.3%), from €101,632 to €107,029
- Gross operating margin +€26,747
up €26,747 (+53.0%), from €50,453 to €77,200
- Staff costs +€24,597
up €24,597 (+88.5%), from €27,803 to €52,400
- Taxes +€1,568
up €1,568 (+126%), from €1,242 to €2,810
- Financial income -€1,083
down €1,083 (-90.3%), from €1,199 to €116
- Other operating charges -€799
down €799 (-26.0%), from €3,072 to €2,273
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 | €178,153 | €184,268 | +€6,116 | +3.4% |
| Fixed assets | 21/28 | €147,777 | €143,744 | -€4,033 | -2.7% |
| Tangible fixed assets | 22/27 | €145,460 | €143,744 | -€1,716 | -1.2% |
| Land and buildings | 22 | €144,053 | €131,524 | -€12,529 | -8.7% |
| Plant, machinery and equipment | 23 | €1,407 | €6,217 | +€4,810 | +342% |
| Furniture and vehicles | 24 | - | €6,003 | +€6,003 | |
| Financial fixed assets | 28 | €2,317 | - | -€2,317 | |
| Current assets | 29/58 | €30,376 | €40,525 | +€10,148 | +33.4% |
| Stocks and contracts in progress | 3 | €10,823 | €11,920 | +€1,097 | +10.1% |
| Stocks | 30/36 | €10,823 | €11,920 | +€1,097 | +10.1% |
| Amounts receivable within one year | 40/41 | €3,937 | €6,110 | +€2,172 | +55.2% |
| Trade receivables | 40 | €0 | €161 | +€161 | |
| Other amounts receivable | 41 | €3,937 | €5,948 | +€2,011 | +51.1% |
| Cash at bank and in hand | 54/58 | €15,380 | €21,121 | +€5,742 | +37.3% |
| Deferred charges and accrued income | 490/1 | €237 | €1,373 | +€1,137 | +480% |
| Total equity and liabilities | 10/49 | €178,153 | €184,268 | +€6,116 | +3.4% |
| Equity | 10/15 | €120,232 | €125,629 | +€5,397 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €101,632 | €107,029 | +€5,397 | +5.3% |
| Distributable reserves | 133 | €101,632 | €107,029 | +€5,397 | +5.3% |
| Amounts payable | 17/49 | €57,921 | €58,639 | +€718 | +1.2% |
| Amounts payable within one year | 42/48 | €57,921 | €58,512 | +€591 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,613 | €20,385 | +€14,773 | +263% |
| Suppliers | 440/4 | €5,613 | €20,385 | +€14,773 | +263% |
| Taxes, remuneration and social security | 45 | €6,781 | €6,397 | -€385 | -5.7% |
| Taxes | 450/3 | €4,964 | €6,397 | +€1,432 | +28.8% |
| Remuneration and social security | 454/9 | €1,817 | - | -€1,817 | |
| Other amounts payable | 47/48 | €45,527 | €31,730 | -€13,797 | -30.3% |
| Accrued charges and deferred income | 492/3 | - | €128 | +€128 | |
| Remuneration, social security and pensions | 62 | €27,803 | €52,400 | +€24,597 | +88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,943 | €13,680 | +€737 | +5.7% |
| Other operating charges | 640/8 | €3,072 | €2,273 | -€799 | -26.0% |
| Gross operating margin | 9900 | €50,453 | €77,200 | +€26,747 | +53.0% |
| Operating profit (loss) | 9901 | €6,635 | €8,847 | +€2,212 | +33.3% |
| Financial income | 75/76B | €1,199 | €116 | -€1,083 | -90.3% |
| Recurring financial income | 75 | €1,199 | €116 | -€1,083 | -90.3% |
| Financial charges | 65/66B | €704 | €756 | +€52 | +7.4% |
| Recurring financial charges | 65 | €704 | €756 | +€52 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €7,130 | €8,207 | +€1,077 | +15.1% |
| Income taxes | 67/77 | €1,242 | €2,810 | +€1,568 | +126% |
| Profit (loss) for the period | 9904 | €5,888 | €5,397 | -€491 | -8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,888 | €5,397 | -€491 | -8.3% |
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 16 October 2026 via checked.be.