THYS VASTGOED: 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 VASTGOED
Largest movements
- Stocks and contracts -€4.3m
down €4.3m (-80.9%), from €5.3m to €1.0m
- Receivables within one year +€1.9m
up €1.9m (+104%), from €1.8m to €3.7m
of which Other amounts receivable: +€1.9m
- Cash -€284,242
down €284,242 (-88.3%), from €321,842 to €37,600
mainly Receivables within one year (-€1.9m) and Short-term financial debts (-€1.7m)
- Short-term financial debts -€1.7m
down €1.7m (-80.1%), from €2.2m to €430,000
- Debts after one year -€1.6m
down €1.6m (-87.4%), from €1.8m to €225,516
- Reserves +€505,844
up €505,844 (+15.5%), from €3.3m to €3.8m
of which Distributable reserves: +€505,844
- Financial charges -€354,852
down €354,852 (-77.0%), from €460,897 to €106,045
- Gross operating margin -€244,546
down €244,546 (-21.7%), from €1.1m to €880,634
- Taxes +€70,934
up €70,934 (+41.2%), from €172,148 to €243,081
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 | €7,518,810 | €4,773,359 | -€2.7m | -36.5% |
| Fixed assets | 21/28 | €55,108 | €30,608 | -€24,500 | -44.5% |
| Tangible fixed assets | 22/27 | €55,108 | €30,608 | -€24,500 | -44.5% |
| Furniture and vehicles | 24 | €55,108 | €30,608 | -€24,500 | -44.5% |
| Current assets | 29/58 | €7,463,702 | €4,742,751 | -€2.7m | -36.5% |
| Stocks and contracts in progress | 3 | €5,286,398 | €1,012,178 | -€4.3m | -80.9% |
| Stocks | 30/36 | €5,286,398 | €1,012,178 | -€4.3m | -80.9% |
| Amounts receivable within one year | 40/41 | €1,811,422 | €3,689,317 | +€1.9m | +104% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,811,422 | €3,689,317 | +€1.9m | +104% |
| Cash at bank and in hand | 54/58 | €321,842 | €37,600 | -€284,242 | -88.3% |
| Deferred charges and accrued income | 490/1 | €44,040 | €3,656 | -€40,383 | -91.7% |
| Total equity and liabilities | 10/49 | €7,518,810 | €4,773,359 | -€2.7m | -36.5% |
| Equity | 10/15 | €3,288,316 | €3,794,160 | +€505,844 | +15.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,269,716 | €3,775,560 | +€505,844 | +15.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €3,267,856 | €3,773,700 | +€505,844 | +15.5% |
| Amounts payable | 17/49 | €4,230,494 | €979,199 | -€3.3m | -76.9% |
| Amounts payable after more than one year | 17 | €1,794,259 | €225,516 | -€1.6m | -87.4% |
| Financial debts | 170/4 | €1,794,259 | €225,516 | -€1.6m | -87.4% |
| Amounts payable within one year | 42/48 | €2,429,400 | €753,683 | -€1.7m | -69.0% |
| Current portion of amounts payable after more than one year | 42 | €165,851 | €156,392 | -€9,459 | -5.7% |
| Financial debts | 43 | €2,158,258 | €430,000 | -€1.7m | -80.1% |
| Credit institutions | 430/8 | €2,158,258 | €430,000 | -€1.7m | -80.1% |
| Trade debts | 44 | €56,773 | €77,594 | +€20,821 | +36.7% |
| Suppliers | 440/4 | €56,773 | €77,594 | +€20,821 | +36.7% |
| Taxes, remuneration and social security | 45 | €47,148 | €89,698 | +€42,550 | +90.2% |
| Taxes | 450/3 | €47,148 | €89,698 | +€42,550 | +90.2% |
| Other amounts payable | 47/48 | €1,371 | €0 | -€1,371 | -100% |
| Accrued charges and deferred income | 492/3 | €6,835 | €0 | -€6,835 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,500 | €24,500 | = | 0.0% |
| Other operating charges | 640/8 | €3,742 | €3,743 | +€1 | 0.0% |
| Gross operating margin | 9900 | €1,125,181 | €880,634 | -€244,546 | -21.7% |
| Operating profit (loss) | 9901 | €1,096,939 | €852,392 | -€244,547 | -22.3% |
| Financial income | 75/76B | €0 | €2,578 | +€2,578 | |
| Recurring financial income | 75 | €0 | €2,578 | +€2,578 | |
| Financial charges | 65/66B | €460,897 | €106,045 | -€354,852 | -77.0% |
| Recurring financial charges | 65 | €460,897 | €106,045 | -€354,852 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €636,042 | €748,925 | +€112,884 | +17.7% |
| Income taxes | 67/77 | €172,148 | €243,081 | +€70,934 | +41.2% |
| Profit (loss) for the period | 9904 | €463,894 | €505,844 | +€41,950 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €463,894 | €505,844 | +€41,950 | +9.0% |
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 25 October 2026 via checked.be.