Thyssen: 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.
Thyssen
Largest movements
- Tangible fixed assets +€81,526
up €81,526 (+14.3%), from €571,405 to €652,931
of which Plant, machinery and equipment: +€74,214
- Receivables within one year +€10,928
up €10,928 (+17.9%), from €61,177 to €72,104
of which Trade receivables: +€6,666
- Reserves +€35,986
up €35,986 (+32.4%), from €111,104 to €147,090
of which Distributable reserves: +€35,986
- Trade debts +€32,815
up €32,815 (+14.4%), from €227,317 to €260,131
- Current portion of long-term debt +€15,274
up €15,274 (+38.1%), from €40,071 to €55,345
- Staff costs -€27,939
down €27,939 (-12.7%), from €220,069 to €192,131
- Gross operating margin +€24,178
up €24,178 (+7.9%), from €306,431 to €330,609
- Depreciation +€14,804
up €14,804 (+38.4%), from €38,508 to €53,312
- Taxes +€6,099
up €6,099 (+147%), from €4,135 to €10,234
- Financial charges +€4,745
up €4,745 (+19.5%), from €24,341 to €29,086
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 | €805,840 | €893,279 | +€87,439 | +10.9% |
| Fixed assets | 21/28 | €572,792 | €652,931 | +€80,139 | +14.0% |
| Intangible fixed assets | 21 | €1,387 | - | -€1,387 | |
| Tangible fixed assets | 22/27 | €571,405 | €652,931 | +€81,526 | +14.3% |
| Land and buildings | 22 | €385,090 | €365,674 | -€19,416 | -5.0% |
| Plant, machinery and equipment | 23 | €146,415 | €220,629 | +€74,214 | +50.7% |
| Furniture and vehicles | 24 | - | €17,820 | +€17,820 | |
| Leasing and similar rights | 25 | - | €8,908 | +€8,908 | |
| Other tangible fixed assets | 26 | €39,900 | €39,900 | = | 0.0% |
| Current assets | 29/58 | €233,048 | €240,348 | +€7,300 | +3.1% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Other amounts receivable | 291 | €75,000 | €75,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €55,357 | €54,039 | -€1,318 | -2.4% |
| Stocks | 30/36 | €55,357 | €54,039 | -€1,318 | -2.4% |
| Amounts receivable within one year | 40/41 | €61,177 | €72,104 | +€10,928 | +17.9% |
| Trade receivables | 40 | €43,718 | €50,384 | +€6,666 | +15.2% |
| Other amounts receivable | 41 | €17,459 | €21,720 | +€4,261 | +24.4% |
| Current investments | 50/53 | €2,146 | €3,024 | +€878 | +40.9% |
| Cash at bank and in hand | 54/58 | €22,958 | €26,327 | +€3,369 | +14.7% |
| Deferred charges and accrued income | 490/1 | €16,410 | €9,853 | -€6,557 | -40.0% |
| Total equity and liabilities | 10/49 | €805,840 | €893,279 | +€87,439 | +10.9% |
| Equity | 10/15 | €129,704 | €165,690 | +€35,986 | +27.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,104 | €147,090 | +€35,986 | +32.4% |
| 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 | €109,244 | €145,230 | +€35,986 | +32.9% |
| Amounts payable | 17/49 | €676,136 | €727,589 | +€51,453 | +7.6% |
| Amounts payable after more than one year | 17 | €354,973 | €351,813 | -€3,160 | -0.9% |
| Financial debts | 170/4 | €343,958 | €343,998 | +€40 | 0.0% |
| Other amounts payable | 178/9 | €11,015 | €7,815 | -€3,200 | -29.1% |
| Amounts payable within one year | 42/48 | €321,163 | €375,776 | +€54,612 | +17.0% |
| Current portion of amounts payable after more than one year | 42 | €40,071 | €55,345 | +€15,274 | +38.1% |
| Trade debts | 44 | €227,317 | €260,131 | +€32,815 | +14.4% |
| Suppliers | 440/4 | €227,317 | €260,131 | +€32,815 | +14.4% |
| Advances received on contracts in progress | 46 | €10,588 | €3,688 | -€6,901 | -65.2% |
| Taxes, remuneration and social security | 45 | €29,452 | €36,648 | +€7,196 | +24.4% |
| Taxes | 450/3 | €14,324 | €24,035 | +€9,711 | +67.8% |
| Remuneration and social security | 454/9 | €15,127 | €12,613 | -€2,515 | -16.6% |
| Other amounts payable | 47/48 | €13,736 | €19,964 | +€6,228 | +45.3% |
| Remuneration, social security and pensions | 62 | €220,069 | €192,131 | -€27,939 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,508 | €53,312 | +€14,804 | +38.4% |
| Other operating charges | 640/8 | €7,844 | €9,972 | +€2,128 | +27.1% |
| Gross operating margin | 9900 | €306,431 | €330,609 | +€24,178 | +7.9% |
| Operating profit (loss) | 9901 | €40,010 | €75,195 | +€35,185 | +87.9% |
| Financial income | 75/76B | €51 | €112 | +€61 | +120% |
| Recurring financial income | 75 | €51 | €112 | +€61 | +120% |
| Financial charges | 65/66B | €24,341 | €29,086 | +€4,745 | +19.5% |
| Recurring financial charges | 65 | €24,341 | €29,086 | +€4,745 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | €15,720 | €46,221 | +€30,501 | +194% |
| Income taxes | 67/77 | €4,135 | €10,234 | +€6,099 | +147% |
| Profit (loss) for the period | 9904 | €11,584 | €35,986 | +€24,402 | +211% |
| Profit (loss) for the period to be appropriated | 9905 | €11,584 | €35,986 | +€24,402 | +211% |
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 23 October 2026 via checked.be.