THY-Grondwerken: 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.
THY-Grondwerken
Largest movements
- Receivables within one year +€98,306
up €98,306 (+442.8%), from €22,200 to €120,507
of which Trade receivables: +€82,230
- Stocks and contracts -€74,020
no longer reported in 2025 (was €74,020)
- Tangible fixed assets -€21,771
down €21,771 (-22.5%), from €96,756 to €74,986
of which Furniture and vehicles: -€24,608
- Cash +€21,452
up €21,452 (+48.3%), from €44,459 to €65,910
mainly Stocks and contracts (+€74,020) and Net result for the year (+€51,663)
- Deferred charges and accrued income +€8,472
up €8,472 (+94.7%), from €8,947 to €17,419
- Reserves +€37,377
up €37,377 (+39.0%), from €95,899 to €133,276
- Tax, wage and social debts +€27,740
up €27,740 (+84.6%), from €32,798 to €60,538
of which Remuneration and social security: +€14,439
- Debts after one year -€20,838
down €20,838 (-46.4%), from €44,869 to €24,030
- Current portion of long-term debt -€15,939
down €15,939 (-37.6%), from €42,349 to €26,409
- Other debts +€14,286
new in 2025: €14,286
- Staff costs +€68,950
up €68,950 (+62.7%), from €109,925 to €178,875
- Gross operating margin +€24,777
up €24,777 (+9.2%), from €270,362 to €295,139
- Taxes -€13,846
down €13,846 (-39.1%), from €35,436 to €21,591
- Depreciation +€7,546
up €7,546 (+39.6%), from €19,079 to €26,625
- Other operating charges +€3,543
up €3,543 (+65.2%), from €5,436 to €8,979
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 | €249,603 | €281,821 | +€32,218 | +12.9% |
| Formation expenses | 20 | €221 | - | -€221 | |
| Fixed assets | 21/28 | €99,756 | €77,986 | -€21,771 | -21.8% |
| Tangible fixed assets | 22/27 | €96,756 | €74,986 | -€21,771 | -22.5% |
| Plant, machinery and equipment | 23 | €3,976 | €6,813 | +€2,837 | +71.3% |
| Furniture and vehicles | 24 | €92,780 | €68,173 | -€24,608 | -26.5% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €149,625 | €203,836 | +€54,210 | +36.2% |
| Stocks and contracts in progress | 3 | €74,020 | - | -€74,020 | |
| Contracts in progress | 37 | €74,020 | - | -€74,020 | |
| Amounts receivable within one year | 40/41 | €22,200 | €120,507 | +€98,306 | +442.8% |
| Trade receivables | 40 | - | €82,230 | +€82,230 | |
| Other amounts receivable | 41 | €22,200 | €38,277 | +€16,076 | +72.4% |
| Cash at bank and in hand | 54/58 | €44,459 | €65,910 | +€21,452 | +48.3% |
| Deferred charges and accrued income | 490/1 | €8,947 | €17,419 | +€8,472 | +94.7% |
| Total equity and liabilities | 10/49 | €249,603 | €281,821 | +€32,218 | +12.9% |
| Equity | 10/15 | €110,899 | €148,276 | +€37,377 | +33.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €95,899 | €133,276 | +€37,377 | +39.0% |
| Distributable reserves | 133 | €95,899 | €133,276 | +€37,377 | +39.0% |
| Amounts payable | 17/49 | €138,704 | €133,545 | -€5,159 | -3.7% |
| Amounts payable after more than one year | 17 | €44,869 | €24,030 | -€20,838 | -46.4% |
| Financial debts | 170/4 | €44,869 | €24,030 | -€20,838 | -46.4% |
| Amounts payable within one year | 42/48 | €93,835 | €109,515 | +€15,679 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €42,349 | €26,409 | -€15,939 | -37.6% |
| Trade debts | 44 | €18,689 | €8,282 | -€10,407 | -55.7% |
| Suppliers | 440/4 | €18,689 | €8,282 | -€10,407 | -55.7% |
| Taxes, remuneration and social security | 45 | €32,798 | €60,538 | +€27,740 | +84.6% |
| Taxes | 450/3 | €31,526 | €44,827 | +€13,301 | +42.2% |
| Remuneration and social security | 454/9 | €1,272 | €15,711 | +€14,439 | +1135.5% |
| Other amounts payable | 47/48 | - | €14,286 | +€14,286 | |
| Remuneration, social security and pensions | 62 | €109,925 | €178,875 | +€68,950 | +62.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,079 | €26,625 | +€7,546 | +39.6% |
| Other operating charges | 640/8 | €5,436 | €8,979 | +€3,543 | +65.2% |
| Gross operating margin | 9900 | €270,362 | €295,139 | +€24,777 | +9.2% |
| Operating profit (loss) | 9901 | €135,922 | €80,660 | -€55,262 | -40.7% |
| Financial income | 75/76B | €26 | €2 | -€24 | -92.9% |
| Recurring financial income | 75 | €26 | €2 | -€24 | -92.9% |
| Financial charges | 65/66B | €4,613 | €7,409 | +€2,796 | +60.6% |
| Recurring financial charges | 65 | €3,885 | €3,397 | -€488 | -12.6% |
| Non-recurring financial charges | 66B | €728 | €4,011 | +€3,284 | +451.2% |
| Profit (loss) for the period before taxes | 9903 | €131,335 | €73,253 | -€58,082 | -44.2% |
| Income taxes | 67/77 | €35,436 | €21,591 | -€13,846 | -39.1% |
| Profit (loss) for the period | 9904 | €95,899 | €51,663 | -€44,236 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €95,899 | €51,663 | -€44,236 | -46.1% |
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.