THYSSEN: 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.
THYSSEN
Largest movements
- Receivables within one year -€5,481
down €5,481 (-32.6%), from €16,838 to €11,357
- Tangible fixed assets -€4,908
down €4,908 (-23.5%), from €20,861 to €15,953
of which Furniture and vehicles: -€4,908
- Stocks and contracts +€3,823
up €3,823 (+4.8%), from €80,133 to €83,956
- Trade debts -€6,594
down €6,594 (-29.8%), from €22,136 to €15,542
- Current portion of long-term debt -€2,684
no longer reported in 2025 (was €2,684)
- Gross operating margin +€5,876
up €5,876 (+306.5%), from €1,917 to €7,793
- Other operating charges -€228
down €228 (-12.1%), from €1,889 to €1,661
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 | €146,929 | €138,822 | -€8,107 | -5.5% |
| Fixed assets | 21/28 | €21,190 | €16,282 | -€4,908 | -23.2% |
| Tangible fixed assets | 22/27 | €20,861 | €15,953 | -€4,908 | -23.5% |
| Land and buildings | 22 | €12,395 | €12,395 | = | 0.0% |
| Furniture and vehicles | 24 | €8,466 | €3,558 | -€4,908 | -58.0% |
| Financial fixed assets | 28 | €329 | €329 | = | 0.0% |
| Current assets | 29/58 | €125,739 | €122,540 | -€3,199 | -2.5% |
| Stocks and contracts in progress | 3 | €80,133 | €83,956 | +€3,823 | +4.8% |
| Stocks | 30/36 | €80,133 | €83,956 | +€3,823 | +4.8% |
| Amounts receivable within one year | 40/41 | €16,838 | €11,357 | -€5,481 | -32.6% |
| Trade receivables | 40 | €16,838 | €11,357 | -€5,481 | -32.6% |
| Cash at bank and in hand | 54/58 | €27,462 | €26,957 | -€505 | -1.8% |
| Deferred charges and accrued income | 490/1 | €1,306 | €270 | -€1,036 | -79.3% |
| Total equity and liabilities | 10/49 | €146,929 | €138,822 | -€8,107 | -5.5% |
| Equity | 10/15 | €116,622 | €116,781 | +€159 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €39,556 | €39,556 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,697 | €37,697 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,466 | €58,625 | +€159 | +0.3% |
| Amounts payable | 17/49 | €30,307 | €22,041 | -€8,266 | -27.3% |
| Amounts payable within one year | 42/48 | €30,280 | €22,041 | -€8,239 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €2,684 | - | -€2,684 | |
| Trade debts | 44 | €22,136 | €15,542 | -€6,594 | -29.8% |
| Suppliers | 440/4 | €22,136 | €15,542 | -€6,594 | -29.8% |
| Taxes, remuneration and social security | 45 | €5,460 | €6,299 | +€839 | +15.4% |
| Taxes | 450/3 | €5,460 | €6,299 | +€839 | +15.4% |
| Other amounts payable | 47/48 | - | €200 | +€200 | |
| Accrued charges and deferred income | 492/3 | €27 | - | -€27 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,908 | €4,908 | = | 0.0% |
| Other operating charges | 640/8 | €1,889 | €1,661 | -€228 | -12.1% |
| Non-recurring operating charges | 66A | - | €845 | +€845 | |
| Gross operating margin | 9900 | €1,917 | €7,793 | +€5,876 | +306.5% |
| Operating profit (loss) | 9901 | -€4,880 | €379 | +€5,259 | |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €207 | €220 | +€13 | +6.3% |
| Recurring financial charges | 65 | €207 | €220 | +€13 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,078 | €159 | +€5,237 | |
| Profit (loss) for the period | 9904 | -€5,078 | €159 | +€5,237 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,078 | €159 | +€5,237 |
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 7 October 2026 via checked.be.