Thys Bart: 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.
Thys Bart
Largest movements
- Receivables within one year +€9,210
up €9,210 (+13.2%), from €69,976 to €79,186
of which Trade receivables: +€10,097
- Cash +€4,696
up €4,696 (+28.0%), from €16,793 to €21,489
mainly Trade debts (+€10,392) and Net result for the year (+€5,138)
- Tangible fixed assets -€1,488
down €1,488 (-43.0%), from €3,463 to €1,975
of which Assets under construction and advance payments: -€2,283
- Trade debts +€10,392
up €10,392 (+536.2%), from €1,938 to €12,330
- Reserves +€5,138
up €5,138 (+6.5%), from €79,286 to €84,424
- Tax, wage and social debts -€2,116
down €2,116 (-49.1%), from €4,312 to €2,196
- Gross operating margin -€13,652
down €13,652 (-59.1%), from €23,097 to €9,445
- Other operating charges -€3,279
down €3,279 (-69.3%), from €4,733 to €1,454
- Taxes -€2,116
down €2,116 (-49.1%), from €4,312 to €2,196
- Depreciation +€273
up €273 (+28.5%), from €959 to €1,233
- Staff costs +€264
new in 2025: €264
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 | €92,731 | €105,150 | +€12,419 | +13.4% |
| Fixed assets | 21/28 | €3,463 | €1,975 | -€1,488 | -43.0% |
| Tangible fixed assets | 22/27 | €3,463 | €1,975 | -€1,488 | -43.0% |
| Land and buildings | 22 | - | €1,192 | +€1,192 | |
| Plant, machinery and equipment | 23 | €481 | €325 | -€156 | -32.4% |
| Furniture and vehicles | 24 | €699 | €458 | -€240 | -34.4% |
| Assets under construction and advance payments | 27 | €2,283 | - | -€2,283 | |
| Current assets | 29/58 | €89,269 | €103,175 | +€13,906 | +15.6% |
| Stocks and contracts in progress | 3 | €2,500 | €2,500 | = | 0.0% |
| Stocks | 30/36 | €2,500 | €2,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,976 | €79,186 | +€9,210 | +13.2% |
| Trade receivables | 40 | €54,131 | €64,228 | +€10,097 | +18.7% |
| Other amounts receivable | 41 | €15,844 | €14,958 | -€887 | -5.6% |
| Cash at bank and in hand | 54/58 | €16,793 | €21,489 | +€4,696 | +28.0% |
| Total equity and liabilities | 10/49 | €92,731 | €105,150 | +€12,419 | +13.4% |
| Equity | 10/15 | €85,486 | €90,624 | +€5,138 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €79,286 | €84,424 | +€5,138 | +6.5% |
| Distributable reserves | 133 | €79,286 | €84,424 | +€5,138 | +6.5% |
| Amounts payable | 17/49 | €7,245 | €14,526 | +€7,281 | +100.5% |
| Amounts payable within one year | 42/48 | €7,245 | €14,526 | +€7,281 | +100.5% |
| Current portion of amounts payable after more than one year | 42 | €995 | - | -€995 | |
| Trade debts | 44 | €1,938 | €12,330 | +€10,392 | +536.2% |
| Suppliers | 440/4 | €1,938 | €12,330 | +€10,392 | +536.2% |
| Taxes, remuneration and social security | 45 | €4,312 | €2,196 | -€2,116 | -49.1% |
| Taxes | 450/3 | €4,312 | €2,196 | -€2,116 | -49.1% |
| Remuneration, social security and pensions | 62 | - | €264 | +€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €959 | €1,233 | +€273 | +28.5% |
| Other operating charges | 640/8 | €4,733 | €1,454 | -€3,279 | -69.3% |
| Gross operating margin | 9900 | €23,097 | €9,445 | -€13,652 | -59.1% |
| Operating profit (loss) | 9901 | €17,405 | €6,495 | -€10,909 | -62.7% |
| Financial income | 75/76B | €1,068 | €977 | -€91 | -8.5% |
| Recurring financial income | 75 | €1,068 | €977 | -€91 | -8.5% |
| Financial charges | 65/66B | €207 | €138 | -€69 | -33.2% |
| Recurring financial charges | 65 | €207 | €138 | -€69 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €18,266 | €7,334 | -€10,932 | -59.8% |
| Income taxes | 67/77 | €4,312 | €2,196 | -€2,116 | -49.1% |
| Profit (loss) for the period | 9904 | €13,954 | €5,138 | -€8,816 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,954 | €5,138 | -€8,816 | -63.2% |
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 5 October 2026 via checked.be.