Thyssen Beheer: 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 Beheer
Largest movements
- Receivables within one year -€27,882
down €27,882 (-88.5%), from €31,495 to €3,612
of which Trade receivables: -€30,885
- Tangible fixed assets +€13,270
up €13,270 (+9.8%), from €135,320 to €148,590
of which Furniture and vehicles: +€38,653
- Cash -€10,376
down €10,376 (-87.7%), from €11,838 to €1,462
mainly Investment in fixed assets (net) (-€49,681) and Other debts (-€21,541)
- Other debts -€21,541
down €21,541 (-100.0%), from €21,541 to €0
- Debts after one year +€11,942
up €11,942 (+103.8%), from €11,502 to €23,444
- Trade debts -€10,045
down €10,045 (-86.8%), from €11,569 to €1,525
- Profit (loss) carried forward -€9,496
down €9,496 (-47.4%), from €20,018 to €10,523
- Current portion of long-term debt +€6,046
up €6,046 (+87.9%), from €6,881 to €12,927
- Depreciation +€8,873
up €8,873 (+32.2%), from €27,538 to €36,411
- Gross operating margin -€5,858
down €5,858 (-12.8%), from €45,789 to €39,931
- Other operating charges +€2,833
up €2,833 (+38.1%), from €7,439 to €10,273
- Taxes -€1,902
down €1,902 (-63.9%), from €2,979 to €1,077
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 | €178,652 | €154,767 | -€23,885 | -13.4% |
| Fixed assets | 21/28 | €135,320 | €148,590 | +€13,270 | +9.8% |
| Tangible fixed assets | 22/27 | €135,320 | €148,590 | +€13,270 | +9.8% |
| Land and buildings | 22 | €118,195 | €98,677 | -€19,518 | -16.5% |
| Plant, machinery and equipment | 23 | €4,914 | €2,797 | -€2,117 | -43.1% |
| Furniture and vehicles | 24 | €3,135 | €41,788 | +€38,653 | +1233.1% |
| Other tangible fixed assets | 26 | €9,076 | €5,329 | -€3,747 | -41.3% |
| Current assets | 29/58 | €43,332 | €6,176 | -€37,156 | -85.7% |
| Amounts receivable within one year | 40/41 | €31,495 | €3,612 | -€27,882 | -88.5% |
| Trade receivables | 40 | €31,474 | €589 | -€30,885 | -98.1% |
| Other amounts receivable | 41 | €21 | €3,024 | +€3,003 | +14311.3% |
| Cash at bank and in hand | 54/58 | €11,838 | €1,462 | -€10,376 | -87.7% |
| Deferred charges and accrued income | 490/1 | - | €1,102 | +€1,102 | |
| Total equity and liabilities | 10/49 | €178,652 | €154,767 | -€23,885 | -13.4% |
| Equity | 10/15 | €125,379 | €115,883 | -€9,496 | -7.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €86,768 | €86,768 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,108 | €6,108 | = | 0.0% |
| Distributable reserves | 133 | €80,660 | €80,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,018 | €10,523 | -€9,496 | -47.4% |
| Amounts payable | 17/49 | €53,274 | €38,884 | -€14,390 | -27.0% |
| Amounts payable after more than one year | 17 | €11,502 | €23,444 | +€11,942 | +103.8% |
| Financial debts | 170/4 | €11,502 | €23,444 | +€11,942 | +103.8% |
| Amounts payable within one year | 42/48 | €41,772 | €15,440 | -€26,331 | -63.0% |
| Current portion of amounts payable after more than one year | 42 | €6,881 | €12,927 | +€6,046 | +87.9% |
| Trade debts | 44 | €11,569 | €1,525 | -€10,045 | -86.8% |
| Suppliers | 440/4 | €11,569 | €1,525 | -€10,045 | -86.8% |
| Taxes, remuneration and social security | 45 | €1,780 | €988 | -€792 | -44.5% |
| Taxes | 450/3 | €1,780 | €988 | -€792 | -44.5% |
| Other amounts payable | 47/48 | €21,541 | €0 | -€21,541 | -100.0% |
| Non-recurring operating income | 76A | €6,000 | €0 | -€6,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,538 | €36,411 | +€8,873 | +32.2% |
| Other operating charges | 640/8 | €7,439 | €10,273 | +€2,833 | +38.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €45,789 | €39,931 | -€5,858 | -12.8% |
| Operating profit (loss) | 9901 | €10,812 | -€6,752 | -€17,564 | |
| Financial income | 75/76B | €0 | €6 | +€6 | |
| Recurring financial income | 75 | €0 | €6 | +€6 | |
| Financial charges | 65/66B | €1,352 | €1,673 | +€320 | +23.7% |
| Recurring financial charges | 65 | €1,352 | €1,673 | +€320 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €9,460 | -€8,419 | -€17,879 | |
| Income taxes | 67/77 | €2,979 | €1,077 | -€1,902 | -63.9% |
| Profit (loss) for the period | 9904 | €6,481 | -€9,496 | -€15,976 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,481 | -€9,496 | -€15,976 |
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 30 September 2026 via checked.be.