Villa-Thor: 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.
Villa-Thor
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+251%), from €468,226 to €1.6m
of which Land and buildings: +€1.2m
- Contributions +€1.2m
up €1.2m (+11,500%), from €10,000 to €1.2m
- Other debts +€133,814
up €133,814 (+549%), from €24,384 to €158,198
- Profit (loss) carried forward -€96,323
down €96,323 (-95.1%), from -€101,236 to -€197,559
- Trade debts +€27,609
up €27,609 (+413%), from €6,688 to €34,297
- Debts after one year -€24,038
down €24,038 (-4.8%), from €503,586 to €479,548
- Gross operating margin -€31,893
down €31,893 (-2,194%), from -€1,454 to -€33,347
- Depreciation +€29,387
up €29,387 (+126%), from €23,401 to €52,788
- Financial charges +€1,902
up €1,902 (+25.7%), from €7,399 to €9,301
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 | €469,988 | €1,659,751 | +€1.2m | +253% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €468,843 | €1,645,514 | +€1.2m | +251% |
| Intangible fixed assets | 21 | €617 | €317 | -€300 | -48.6% |
| Tangible fixed assets | 22/27 | €468,226 | €1,645,196 | +€1.2m | +251% |
| Land and buildings | 22 | €462,366 | €1,640,490 | +€1.2m | +255% |
| Plant, machinery and equipment | 23 | €1,168 | €611 | -€557 | -47.7% |
| Furniture and vehicles | 24 | €4,692 | €4,095 | -€597 | -12.7% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €1,145 | €14,237 | +€13,092 | +1,143% |
| Amounts receivable within one year | 40/41 | €931 | €10,029 | +€9,098 | +977% |
| Trade receivables | 40 | €121 | €7,484 | +€7,363 | +6,086% |
| Other amounts receivable | 41 | €810 | €2,544 | +€1,734 | +214% |
| Cash at bank and in hand | 54/58 | €3 | €516 | +€512 | +15,067% |
| Deferred charges and accrued income | 490/1 | €210 | €3,693 | +€3,482 | +1,655% |
| Total equity and liabilities | 10/49 | €469,988 | €1,659,751 | +€1.2m | +253% |
| Equity | 10/15 | -€91,236 | €962,441 | +€1.1m | |
| Contributions | 10/11 | €10,000 | €1,160,000 | +€1.2m | +11,500% |
| Profit (loss) carried forward | 14 | -€101,236 | -€197,559 | -€96,323 | -95.1% |
| Amounts payable | 17/49 | €561,224 | €697,310 | +€136,085 | +24.2% |
| Amounts payable after more than one year | 17 | €503,586 | €479,548 | -€24,038 | -4.8% |
| Financial debts | 170/4 | €503,586 | €479,548 | -€24,038 | -4.8% |
| Amounts payable within one year | 42/48 | €56,844 | €216,967 | +€160,123 | +282% |
| Current portion of amounts payable after more than one year | 42 | €23,517 | €24,038 | +€521 | +2.2% |
| Financial debts | 43 | €2,254 | €0 | -€2,254 | -100% |
| Credit institutions | 430/8 | €2,254 | €0 | -€2,254 | -100% |
| Trade debts | 44 | €6,688 | €34,297 | +€27,609 | +413% |
| Suppliers | 440/4 | €6,688 | €34,297 | +€27,609 | +413% |
| Taxes, remuneration and social security | 45 | - | €434 | +€434 | |
| Taxes | 450/3 | - | €434 | +€434 | |
| Other amounts payable | 47/48 | €24,384 | €158,198 | +€133,814 | +549% |
| Accrued charges and deferred income | 492/3 | €795 | €795 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,401 | €52,788 | +€29,387 | +126% |
| Other operating charges | 640/8 | €790 | €900 | +€110 | +14.0% |
| Gross operating margin | 9900 | -€1,454 | -€33,347 | -€31,893 | -2,194% |
| Operating profit (loss) | 9901 | -€25,645 | -€87,035 | -€61,390 | -239% |
| Financial income | 75/76B | €1 | €13 | +€13 | +1,898% |
| Recurring financial income | 75 | €1 | €13 | +€13 | +1,898% |
| Financial charges | 65/66B | €7,399 | €9,301 | +€1,902 | +25.7% |
| Recurring financial charges | 65 | €7,399 | €9,301 | +€1,902 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,043 | -€96,323 | -€63,280 | -192% |
| Profit (loss) for the period | 9904 | -€33,043 | -€96,323 | -€63,280 | -192% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,043 | -€96,323 | -€63,280 | -192% |
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 17 October 2026 via checked.be.