Thyberghien 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.
Thyberghien Management
Largest movements
- Receivables within one year -€10,568
down €10,568 (-42.1%), from €25,083 to €14,516
of which Trade receivables: -€10,572
- Cash +€3,245
up €3,245 (+114%), from €2,835 to €6,080
mainly Other debts (+€34,240) and Receivables within one year (+€10,568)
- Tangible fixed assets +€595
up €595 (+6.4%), from €9,265 to €9,860
of which Plant, machinery and equipment: +€1,249
- Profit (loss) carried forward -€35,106
new in 2025: -€35,106
- Other debts +€34,240
up €34,240 (+6,911%), from €495 to €34,736
- Tax, wage and social debts -€7,358
down €7,358 (-42.3%), from €17,405 to €10,047
- Trade debts +€1,496
up €1,496 (+24.6%), from €6,072 to €7,567
- Gross operating margin -€52,885
down €52,885, from €19,976 to -€32,909
- Taxes -€5,049
down €5,049 (-95.7%), from €5,277 to €228
- Other operating charges +€386
up €386 (+54.5%), from €709 to €1,095
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 | €37,183 | €30,456 | -€6,727 | -18.1% |
| Fixed assets | 21/28 | €9,265 | €9,860 | +€595 | +6.4% |
| Tangible fixed assets | 22/27 | €9,265 | €9,860 | +€595 | +6.4% |
| Plant, machinery and equipment | 23 | - | €1,249 | +€1,249 | |
| Other tangible fixed assets | 26 | €9,265 | €8,610 | -€654 | -7.1% |
| Current assets | 29/58 | €27,918 | €20,596 | -€7,322 | -26.2% |
| Amounts receivable within one year | 40/41 | €25,083 | €14,516 | -€10,568 | -42.1% |
| Trade receivables | 40 | €25,083 | €14,511 | -€10,572 | -42.1% |
| Other amounts receivable | 41 | - | €5 | +€5 | |
| Cash at bank and in hand | 54/58 | €2,835 | €6,080 | +€3,245 | +114% |
| Total equity and liabilities | 10/49 | €37,183 | €30,456 | -€6,727 | -18.1% |
| Equity | 10/15 | €13,211 | -€21,894 | -€35,106 | |
| Reserves | 13 | €13,211 | €13,211 | = | 0.0% |
| Distributable reserves | 133 | €13,211 | €13,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€35,106 | -€35,106 | |
| Amounts payable | 17/49 | €23,972 | €52,350 | +€28,378 | +118% |
| Amounts payable within one year | 42/48 | €23,972 | €52,350 | +€28,378 | +118% |
| Trade debts | 44 | €6,072 | €7,567 | +€1,496 | +24.6% |
| Suppliers | 440/4 | €6,072 | €7,567 | +€1,496 | +24.6% |
| Taxes, remuneration and social security | 45 | €17,405 | €10,047 | -€7,358 | -42.3% |
| Taxes | 450/3 | €17,405 | €10,047 | -€7,358 | -42.3% |
| Other amounts payable | 47/48 | €495 | €34,736 | +€34,240 | +6,911% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €553 | €655 | +€103 | +18.6% |
| Other operating charges | 640/8 | €709 | €1,095 | +€386 | +54.5% |
| Gross operating margin | 9900 | €19,976 | -€32,909 | -€52,885 | |
| Operating profit (loss) | 9901 | €18,715 | -€34,659 | -€53,374 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €227 | €221 | -€7 | -2.9% |
| Recurring financial charges | 65 | €227 | €221 | -€7 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €18,488 | -€34,878 | -€53,365 | |
| Income taxes | 67/77 | €5,277 | €228 | -€5,049 | -95.7% |
| Profit (loss) for the period | 9904 | €13,211 | -€35,106 | -€48,317 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,211 | -€35,106 | -€48,317 |
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 15 October 2026 via checked.be.