VAN THIENEN: 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.
VAN THIENEN
Largest movements
- Cash +€22,831
up €22,831 (+38.3%), from €59,634 to €82,465
mainly Net result for the year (+€21,943) and Accrued charges and deferred income (+€12,405)
- Deferred charges and accrued income +€9,865
up €9,865 (+316.3%), from €3,119 to €12,984
- Tangible fixed assets -€6,674
down €6,674 (-40.5%), from €16,461 to €9,788
of which Other tangible fixed assets: -€4,549
- Stocks and contracts -€5,040
down €5,040 (-11.3%), from €44,406 to €39,367
- Intangible fixed assets -€2,821
down €2,821 (-46.6%), from €6,047 to €3,227
- Accrued charges and deferred income +€12,405
up €12,405 (+7529.3%), from €165 to €12,570
- Tax, wage and social debts -€12,219
down €12,219 (-43.7%), from €27,991 to €15,772
of which Taxes: -€10,192
- Reserves +€10,000
up €10,000 (+69.2%), from €14,453 to €24,453
of which Distributable reserves: +€10,000
- Other debts +€6,182
up €6,182 (+34.5%), from €17,905 to €24,087
- Trade debts +€3,487
up €3,487 (+17.3%), from €20,169 to €23,655
- Gross operating margin +€34,989
up €34,989 (+33.5%), from €104,381 to €139,370
- Taxes +€11,200
up €11,200 (+367.5%), from €3,047 to €14,248
- Staff costs +€2,557
up €2,557 (+2.9%), from €87,584 to €90,142
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 | €190,168 | €210,065 | +€19,898 | +10.5% |
| Fixed assets | 21/28 | €24,481 | €14,987 | -€9,495 | -38.8% |
| Intangible fixed assets | 21 | €6,047 | €3,227 | -€2,821 | -46.6% |
| Tangible fixed assets | 22/27 | €16,461 | €9,788 | -€6,674 | -40.5% |
| Plant, machinery and equipment | 23 | €562 | - | -€562 | |
| Furniture and vehicles | 24 | €3,252 | €1,690 | -€1,562 | -48.0% |
| Other tangible fixed assets | 26 | €12,647 | €8,097 | -€4,549 | -36.0% |
| Financial fixed assets | 28 | €1,972 | €1,972 | = | 0.0% |
| Current assets | 29/58 | €165,686 | €195,079 | +€29,392 | +17.7% |
| Stocks and contracts in progress | 3 | €44,406 | €39,367 | -€5,040 | -11.3% |
| Stocks | 30/36 | €44,406 | €39,367 | -€5,040 | -11.3% |
| Amounts receivable within one year | 40/41 | €58,527 | €60,263 | +€1,736 | +3.0% |
| Trade receivables | 40 | €56,896 | €52,516 | -€4,380 | -7.7% |
| Other amounts receivable | 41 | €1,631 | €7,747 | +€6,116 | +375.0% |
| Cash at bank and in hand | 54/58 | €59,634 | €82,465 | +€22,831 | +38.3% |
| Deferred charges and accrued income | 490/1 | €3,119 | €12,984 | +€9,865 | +316.3% |
| Total equity and liabilities | 10/49 | €190,168 | €210,065 | +€19,898 | +10.5% |
| Equity | 10/15 | €123,938 | €133,981 | +€10,043 | +8.1% |
| Contributions | 10/11 | €25,533 | €25,533 | = | 0.0% |
| Reserves | 13 | €14,453 | €24,453 | +€10,000 | +69.2% |
| Non-distributable reserves | 130/1 | €2,553 | €2,553 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,553 | €2,553 | = | 0.0% |
| Distributable reserves | 133 | €11,900 | €21,900 | +€10,000 | +84.0% |
| Profit (loss) carried forward | 14 | €83,952 | €83,995 | +€43 | +0.1% |
| Amounts payable | 17/49 | €66,229 | €76,084 | +€9,855 | +14.9% |
| Amounts payable within one year | 42/48 | €66,064 | €63,514 | -€2,550 | -3.9% |
| Trade debts | 44 | €20,169 | €23,655 | +€3,487 | +17.3% |
| Suppliers | 440/4 | €20,169 | €23,655 | +€3,487 | +17.3% |
| Taxes, remuneration and social security | 45 | €27,991 | €15,772 | -€12,219 | -43.7% |
| Taxes | 450/3 | €19,704 | €9,511 | -€10,192 | -51.7% |
| Remuneration and social security | 454/9 | €8,287 | €6,261 | -€2,027 | -24.5% |
| Other amounts payable | 47/48 | €17,905 | €24,087 | +€6,182 | +34.5% |
| Accrued charges and deferred income | 492/3 | €165 | €12,570 | +€12,405 | +7529.3% |
| Remuneration, social security and pensions | 62 | €87,584 | €90,142 | +€2,557 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,188 | €9,495 | +€307 | +3.3% |
| Other operating charges | 640/8 | €3,120 | €3,164 | +€44 | +1.4% |
| Gross operating margin | 9900 | €104,381 | €139,370 | +€34,989 | +33.5% |
| Operating profit (loss) | 9901 | €4,489 | €36,570 | +€32,081 | +714.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €228 | €379 | +€151 | +66.0% |
| Recurring financial charges | 65 | €228 | €379 | +€151 | +66.0% |
| Profit (loss) for the period before taxes | 9903 | €4,260 | €36,191 | +€31,930 | +749.5% |
| Income taxes | 67/77 | €3,047 | €14,248 | +€11,200 | +367.5% |
| Profit (loss) for the period | 9904 | €1,213 | €21,943 | +€20,730 | +1709.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,213 | €21,943 | +€20,730 | +1709.0% |
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 2 October 2026 via checked.be.