VAN THILLO M.: 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 THILLO M.
Largest movements
- Tangible fixed assets -€46,661
down €46,661 (-7.6%), from €612,072 to €565,410
of which Land and buildings: -€37,829
- Cash +€33,210
up €33,210 (+34.9%), from €95,115 to €128,324
mainly Net result for the year (+€69,135) and Depreciation (+€46,661)
- Reserves +€69,135
up €69,135 (+10125.1%), from €683 to €69,817
of which Distributable reserves: +€69,135
- Other debts -€46,374
down €46,374 (-12.7%), from €366,336 to €319,963
- Debts after one year -€43,333
down €43,333 (-13.0%), from €332,222 to €288,889
- Tax, wage and social debts +€9,071
up €9,071, from €0 to €9,071
- Gross operating margin +€143,858
up €143,858 (+1022.4%), from €14,070 to €157,928
- Write-downs +€17,429
new in 2025: €17,429
- Taxes +€16,234
up €16,234 (+3746.7%), from €433 to €16,668
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 | €763,992 | €751,696 | -€12,296 | -1.6% |
| Fixed assets | 21/28 | €612,072 | €565,410 | -€46,661 | -7.6% |
| Tangible fixed assets | 22/27 | €612,072 | €565,410 | -€46,661 | -7.6% |
| Land and buildings | 22 | €600,088 | €562,259 | -€37,829 | -6.3% |
| Plant, machinery and equipment | 23 | €477 | €0 | -€477 | -100.0% |
| Furniture and vehicles | 24 | €11,506 | €3,152 | -€8,355 | -72.6% |
| Current assets | 29/58 | €151,921 | €186,286 | +€34,365 | +22.6% |
| Amounts receivable within one year | 40/41 | €53,876 | €49,442 | -€4,434 | -8.2% |
| Trade receivables | 40 | €31,047 | €29,742 | -€1,305 | -4.2% |
| Other amounts receivable | 41 | €22,830 | €19,700 | -€3,129 | -13.7% |
| Cash at bank and in hand | 54/58 | €95,115 | €128,324 | +€33,210 | +34.9% |
| Deferred charges and accrued income | 490/1 | €2,930 | €8,520 | +€5,590 | +190.8% |
| Total equity and liabilities | 10/49 | €763,992 | €751,696 | -€12,296 | -1.6% |
| Equity | 10/15 | €19,283 | €88,417 | +€69,135 | +358.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €683 | €69,817 | +€69,135 | +10125.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €683 | €69,817 | +€69,135 | +10125.1% |
| Amounts payable | 17/49 | €744,710 | €663,279 | -€81,431 | -10.9% |
| Amounts payable after more than one year | 17 | €332,222 | €288,889 | -€43,333 | -13.0% |
| Financial debts | 170/4 | €332,222 | €288,889 | -€43,333 | -13.0% |
| Amounts payable within one year | 42/48 | €412,487 | €374,390 | -€38,097 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €43,333 | €43,333 | = | 0.0% |
| Trade debts | 44 | €2,818 | €2,023 | -€795 | -28.2% |
| Suppliers | 440/4 | €2,818 | €2,023 | -€795 | -28.2% |
| Taxes, remuneration and social security | 45 | €0 | €9,071 | +€9,071 | |
| Taxes | 450/3 | €0 | €9,071 | +€9,071 | |
| Other amounts payable | 47/48 | €366,336 | €319,963 | -€46,374 | -12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,392 | €46,661 | -€731 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €17,429 | +€17,429 | |
| Other operating charges | 640/8 | €2,698 | €2,679 | -€20 | -0.7% |
| Gross operating margin | 9900 | €14,070 | €157,928 | +€143,858 | +1022.4% |
| Operating profit (loss) | 9901 | -€36,020 | €91,159 | +€127,179 | |
| Financial income | 75/76B | €0 | €32 | +€32 | +105733.3% |
| Recurring financial income | 75 | €0 | €32 | +€32 | +105733.3% |
| Financial charges | 65/66B | €5,958 | €5,389 | -€570 | -9.6% |
| Recurring financial charges | 65 | €5,958 | €5,389 | -€570 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | -€41,979 | €85,802 | +€127,781 | |
| Income taxes | 67/77 | €433 | €16,668 | +€16,234 | +3746.7% |
| Profit (loss) for the period | 9904 | -€42,412 | €69,135 | +€111,546 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,412 | €69,135 | +€111,546 |
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 3 October 2026 via checked.be.