THX MANAGEMENT: 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.
THX MANAGEMENT
Largest movements
- Current investments +€308,696
up €308,696 (+48.8%), from €632,566 to €941,263
- Receivables within one year +€120,941
up €120,941 (+18.2%), from €665,985 to €786,927
of which Trade receivables: +€108,900
- Cash +€77,788
up €77,788 (+40.9%), from €190,210 to €267,998
mainly Net result for the year (+€506,593) and Depreciation (+€48,687)
- Tangible fixed assets -€41,230
down €41,230 (-4.7%), from €883,824 to €842,594
of which Furniture and vehicles: -€24,429
- Reserves +€506,593
up €506,593 (+22.4%), from €2.3m to €2.8m
- Tax, wage and social debts -€31,292
down €31,292 (-40.7%), from €76,889 to €45,596
of which Taxes: -€25,709
- Gross operating margin -€191,425
down €191,425 (-24.3%), from €788,606 to €597,181
- Financial income +€110,097
up €110,097 (+649%), from €16,963 to €127,060
- Taxes -€55,027
down €55,027 (-25.7%), from €214,203 to €159,176
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 | €2,375,131 | €2,840,811 | +€465,680 | +19.6% |
| Fixed assets | 21/28 | €883,824 | €842,594 | -€41,230 | -4.7% |
| Tangible fixed assets | 22/27 | €883,824 | €842,594 | -€41,230 | -4.7% |
| Land and buildings | 22 | €781,402 | €764,424 | -€16,978 | -2.2% |
| Plant, machinery and equipment | 23 | €28,895 | €29,072 | +€177 | +0.6% |
| Furniture and vehicles | 24 | €73,527 | €49,098 | -€24,429 | -33.2% |
| Current assets | 29/58 | €1,491,307 | €1,998,217 | +€506,910 | +34.0% |
| Amounts receivable within one year | 40/41 | €665,985 | €786,927 | +€120,941 | +18.2% |
| Trade receivables | 40 | €54,450 | €163,350 | +€108,900 | +200% |
| Other amounts receivable | 41 | €611,535 | €623,577 | +€12,041 | +2.0% |
| Current investments | 50/53 | €632,566 | €941,263 | +€308,696 | +48.8% |
| Cash at bank and in hand | 54/58 | €190,210 | €267,998 | +€77,788 | +40.9% |
| Deferred charges and accrued income | 490/1 | €2,545 | €2,030 | -€515 | -20.2% |
| Total equity and liabilities | 10/49 | €2,375,131 | €2,840,811 | +€465,680 | +19.6% |
| Equity | 10/15 | €2,282,205 | €2,788,798 | +€506,593 | +22.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,263,605 | €2,770,198 | +€506,593 | +22.4% |
| Distributable reserves | 133 | €2,263,605 | €2,770,198 | +€506,593 | +22.4% |
| Amounts payable | 17/49 | €92,926 | €52,013 | -€40,913 | -44.0% |
| Amounts payable within one year | 42/48 | €92,883 | €52,013 | -€40,870 | -44.0% |
| Trade debts | 44 | €9,751 | €174 | -€9,578 | -98.2% |
| Suppliers | 440/4 | €9,751 | €174 | -€9,578 | -98.2% |
| Taxes, remuneration and social security | 45 | €76,889 | €45,596 | -€31,292 | -40.7% |
| Taxes | 450/3 | €71,305 | €45,596 | -€25,709 | -36.1% |
| Remuneration and social security | 454/9 | €5,583 | - | -€5,583 | |
| Other amounts payable | 47/48 | €6,243 | €6,243 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,592 | €48,687 | +€95 | +0.2% |
| Other operating charges | 640/8 | €17,160 | €9,634 | -€7,526 | -43.9% |
| Gross operating margin | 9900 | €788,606 | €597,181 | -€191,425 | -24.3% |
| Operating profit (loss) | 9901 | €722,853 | €538,860 | -€183,993 | -25.5% |
| Financial income | 75/76B | €16,963 | €127,060 | +€110,097 | +649% |
| Recurring financial income | 75 | €16,963 | €127,060 | +€110,097 | +649% |
| Financial charges | 65/66B | €150 | €150 | -€0 | 0.0% |
| Recurring financial charges | 65 | €150 | €150 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €739,666 | €665,769 | -€73,896 | -10.0% |
| Income taxes | 67/77 | €214,203 | €159,176 | -€55,027 | -25.7% |
| Profit (loss) for the period | 9904 | €525,462 | €506,593 | -€18,869 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €525,462 | €506,593 | -€18,869 | -3.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.