Thys - Vannieuwenborgh: 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.
Thys - Vannieuwenborgh
Largest movements
- Current investments +€470,000
up €470,000 (+235%), from €200,000 to €670,000
- Tangible fixed assets -€285,228
down €285,228 (-63.6%), from €448,207 to €162,979
of which Land and buildings: -€229,667
- Cash +€100,381
up €100,381 (+1,658%), from €6,054 to €106,435
mainly Contributions, distributions and other (+€325,430) and Investment in fixed assets (net) (+€249,406)
- Receivables within one year -€18,188
down €18,188 (-46.3%), from €39,257 to €21,069
of which Other amounts receivable: -€25,092
- Reserves +€329,943
up €329,943 (+89.2%), from €370,021 to €699,964
of which Tax-exempt reserves: +€325,518
- Debts after one year -€142,627
down €142,627 (-70.8%), from €201,381 to €58,754
- Provisions +€101,258
up €101,258 (+493%), from €20,552 to €121,810
- Current portion of long-term debt -€40,451
down €40,451 (-61.1%), from €66,188 to €25,737
- Tax, wage and social debts +€15,260
up €15,260 (+85.5%), from €17,849 to €33,109
- Gross operating margin -€83,792
down €83,792 (-57.7%), from €145,267 to €61,475
- Depreciation -€40,982
down €40,982 (-53.4%), from €76,805 to €35,823
- Taxes +€7,002
up €7,002 (+29.3%), from €23,922 to €30,924
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 | €695,968 | €962,496 | +€266,528 | +38.3% |
| Fixed assets | 21/28 | €448,207 | €162,979 | -€285,228 | -63.6% |
| Tangible fixed assets | 22/27 | €448,207 | €162,979 | -€285,228 | -63.6% |
| Land and buildings | 22 | €287,829 | €58,162 | -€229,667 | -79.8% |
| Plant, machinery and equipment | 23 | €32,754 | €5,443 | -€27,312 | -83.4% |
| Furniture and vehicles | 24 | €96,921 | €77,998 | -€18,922 | -19.5% |
| Other tangible fixed assets | 26 | €30,703 | €21,376 | -€9,327 | -30.4% |
| Current assets | 29/58 | €247,761 | €799,517 | +€551,756 | +223% |
| Amounts receivable within one year | 40/41 | €39,257 | €21,069 | -€18,188 | -46.3% |
| Trade receivables | 40 | €11,116 | €18,020 | +€6,904 | +62.1% |
| Other amounts receivable | 41 | €28,141 | €3,049 | -€25,092 | -89.2% |
| Current investments | 50/53 | €200,000 | €670,000 | +€470,000 | +235% |
| Cash at bank and in hand | 54/58 | €6,054 | €106,435 | +€100,381 | +1,658% |
| Deferred charges and accrued income | 490/1 | €2,450 | €2,013 | -€437 | -17.8% |
| Total equity and liabilities | 10/49 | €695,968 | €962,496 | +€266,528 | +38.3% |
| Equity | 10/15 | €388,621 | €718,564 | +€329,943 | +84.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €370,021 | €699,964 | +€329,943 | +89.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €45,499 | €371,017 | +€325,518 | +715% |
| Distributable reserves | 133 | €322,662 | €328,947 | +€6,285 | +1.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €20,552 | €121,810 | +€101,258 | +493% |
| Deferred taxes | 168 | €20,552 | €121,810 | +€101,258 | +493% |
| Amounts payable | 17/49 | €286,795 | €122,122 | -€164,673 | -57.4% |
| Amounts payable after more than one year | 17 | €201,381 | €58,754 | -€142,627 | -70.8% |
| Financial debts | 170/4 | €201,381 | €58,754 | -€142,627 | -70.8% |
| Amounts payable within one year | 42/48 | €85,414 | €63,367 | -€22,046 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €66,188 | €25,737 | -€40,451 | -61.1% |
| Financial debts | 43 | - | €2,809 | +€2,809 | |
| Credit institutions | 430/8 | - | €2,809 | +€2,809 | |
| Trade debts | 44 | €1,377 | €1,712 | +€335 | +24.3% |
| Suppliers | 440/4 | €1,377 | €1,712 | +€335 | +24.3% |
| Taxes, remuneration and social security | 45 | €17,849 | €33,109 | +€15,260 | +85.5% |
| Taxes | 450/3 | €17,849 | €33,109 | +€15,260 | +85.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €15,250 | €0 | -€15,250 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,805 | €35,823 | -€40,982 | -53.4% |
| Other operating charges | 640/8 | €5,095 | €4,765 | -€330 | -6.5% |
| Gross operating margin | 9900 | €145,267 | €61,475 | -€83,792 | -57.7% |
| Operating profit (loss) | 9901 | €63,368 | €20,887 | -€42,480 | -67.0% |
| Financial income | 75/76B | €250 | €355 | +€105 | +42.2% |
| Recurring financial income | 75 | €250 | €355 | +€105 | +42.2% |
| Financial charges | 65/66B | €5,551 | €6,358 | +€807 | +14.5% |
| Recurring financial charges | 65 | €5,551 | €6,358 | +€807 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €58,067 | €14,884 | -€43,182 | -74.4% |
| Transfer from deferred taxes | 780 | €2,758 | €20,552 | +€17,794 | +645% |
| Income taxes | 67/77 | €23,922 | €30,924 | +€7,002 | +29.3% |
| Profit (loss) for the period | 9904 | €36,903 | €4,512 | -€32,391 | -87.8% |
| Transfer from tax-exempt reserves | 789 | €5,357 | €39,913 | +€34,556 | +645% |
| Profit (loss) for the period to be appropriated | 9905 | €42,260 | €44,425 | +€2,165 | +5.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.