VIRGINIE THONON: what changed
What changed
VIRGINIE THONON
NACE 01.430, Raising of horses and other equines
filed annual accounts (NBB)
Net result for the year
-€146,404
2024 · €220,372-€366,776
Equity
€244,762
2024 · €391,166-€146,404
Cash
-
not filed
Balance sheet total
€2.4m
2024 · €2.5m-€74,314
Largest movements
Assets
- Tangible fixed assets -€119,435
down €119,435 (-7.0%), from €1.7m to €1.6m
- Stocks and contracts +€31,000
up €31,000 (+4.4%), from €699,083 to €730,083
Equity and liabilities
- Current portion of long-term debt +€162,248
up €162,248 (+246%), from €65,988 to €228,236
- Profit (loss) carried forward -€146,404
new in 2025: -€146,404
- Trade debts -€83,787
down €83,787 (-28.0%), from €299,046 to €215,258
- Debts after one year -€33,948
down €33,948 (-3.3%), from €1.0m to €986,739
Income statement
- Gross operating margin -€603,384
down €603,384 (-75.8%), from €795,829 to €192,445
- Write-downs -€194,000
down €194,000, from €176,500 to -€17,500
- Taxes -€76,502
down €76,502 (-95.6%), from €80,018 to €3,516
- Depreciation +€37,417
up €37,417 (+24.7%), from €151,435 to €188,852
- Other operating charges -€33,560
down €33,560 (-81.6%), from €41,113 to €7,554
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€220,372
Gross operating margin
-€603,384
Staff costs
+€1,632
Depreciation
-€37,417
Write-downs
+€194,000
Other operating charges
+€33,560
Financial income
-€23,097
Financial charges
-€8,572
Taxes
+€76,502
Result 2025
-€146,404
raises the resultlowers the result
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,453,166 | €2,378,852 | -€74,314 | -3.0% |
| Fixed assets | 21/28 | €1,710,874 | €1,591,105 | -€119,769 | -7.0% |
| Intangible fixed assets | 21 | €767 | €434 | -€333 | -43.5% |
| Tangible fixed assets | 22/27 | €1,709,733 | €1,590,297 | -€119,435 | -7.0% |
| Land and buildings | 22 | €1,109,665 | €1,064,201 | -€45,464 | -4.1% |
| Plant, machinery and equipment | 23 | €357,301 | €347,102 | -€10,199 | -2.9% |
| Furniture and vehicles | 24 | €153,346 | €105,183 | -€48,163 | -31.4% |
| Leasing and similar rights | 25 | €54,160 | €42,280 | -€11,880 | -21.9% |
| Other tangible fixed assets | 26 | €35,260 | €31,532 | -€3,729 | -10.6% |
| Financial fixed assets | 28 | €374 | €374 | = | 0.0% |
| Current assets | 29/58 | €742,292 | €787,747 | +€45,455 | +6.1% |
| Stocks and contracts in progress | 3 | €699,083 | €730,083 | +€31,000 | +4.4% |
| Stocks | 30/36 | €699,083 | €730,083 | +€31,000 | +4.4% |
| Amounts receivable within one year | 40/41 | €35,705 | €50,633 | +€14,928 | +41.8% |
| Trade receivables | 40 | €27,614 | €7,927 | -€19,687 | -71.3% |
| Other amounts receivable | 41 | €8,090 | €42,705 | +€34,615 | +428% |
| Deferred charges and accrued income | 490/1 | €7,504 | €7,031 | -€473 | -6.3% |
| Total equity and liabilities | 10/49 | €2,453,166 | €2,378,852 | -€74,314 | -3.0% |
| Equity | 10/15 | €391,166 | €244,762 | -€146,404 | -37.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €389,166 | €389,166 | = | 0.0% |
| Distributable reserves | 133 | €389,166 | €389,166 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€146,404 | -€146,404 | |
| Amounts payable | 17/49 | €2,062,000 | €2,134,091 | +€72,091 | +3.5% |
| Amounts payable after more than one year | 17 | €1,020,687 | €986,739 | -€33,948 | -3.3% |
| Financial debts | 170/4 | €1,020,687 | €986,739 | -€33,948 | -3.3% |
| Amounts payable within one year | 42/48 | €1,034,511 | €1,142,889 | +€108,377 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €65,988 | €228,236 | +€162,248 | +246% |
| Financial debts | 43 | €17,826 | €30,038 | +€12,212 | +68.5% |
| Credit institutions | 430/8 | €17,826 | €30,038 | +€12,212 | +68.5% |
| Trade debts | 44 | €299,046 | €215,258 | -€83,787 | -28.0% |
| Suppliers | 440/4 | €299,046 | €215,258 | -€83,787 | -28.0% |
| Taxes, remuneration and social security | 45 | €97,399 | €95,669 | -€1,730 | -1.8% |
| Taxes | 450/3 | €85,148 | €80,879 | -€4,270 | -5.0% |
| Remuneration and social security | 454/9 | €12,251 | €14,790 | +€2,539 | +20.7% |
| Other amounts payable | 47/48 | €554,252 | €573,688 | +€19,436 | +3.5% |
| Accrued charges and deferred income | 492/3 | €6,801 | €4,463 | -€2,338 | -34.4% |
| Remuneration, social security and pensions | 62 | €120,693 | €119,061 | -€1,632 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,435 | €188,852 | +€37,417 | +24.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €176,500 | -€17,500 | -€194,000 | |
| Other operating charges | 640/8 | €41,113 | €7,554 | -€33,560 | -81.6% |
| Gross operating margin | 9900 | €795,829 | €192,445 | -€603,384 | -75.8% |
| Operating profit (loss) | 9901 | €306,088 | -€105,522 | -€411,609 | |
| Financial income | 75/76B | €23,795 | €698 | -€23,097 | -97.1% |
| Recurring financial income | 75 | €532 | €698 | +€166 | +31.2% |
| Non-recurring financial income | 76B | €23,263 | €698 | -€22,565 | -97.0% |
| Financial charges | 65/66B | €29,492 | €38,065 | +€8,572 | +29.1% |
| Recurring financial charges | 65 | €26,648 | €38,052 | +€11,404 | +42.8% |
| Non-recurring financial charges | 66B | €2,844 | €13 | -€2,831 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €300,390 | -€142,888 | -€443,279 | |
| Income taxes | 67/77 | €80,018 | €3,516 | -€76,502 | -95.6% |
| Profit (loss) for the period | 9904 | €220,372 | -€146,404 | -€366,776 | |
| Profit (loss) for the period to be appropriated | 9905 | €220,372 | -€146,404 | -€366,776 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.