THODA: 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.
THODA
Largest movements
- Cash +€72,094
up €72,094 (+66.5%), from €108,337 to €180,432
mainly Net result for the year (+€71,774) and Other debts (+€3,850)
- Reserves +€71,774
up €71,774 (+86.0%), from €83,453 to €155,226
- Other debts +€3,850
up €3,850 (+52.2%), from €7,375 to €11,225
- Tax, wage and social debts -€3,368
down €3,368 (-10.9%), from €30,888 to €27,520
- Gross operating margin -€16,146
down €16,146 (-15.1%), from €106,971 to €90,825
- Taxes -€3,721
down €3,721 (-16.5%), from €22,577 to €18,856
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 | €127,354 | €199,635 | +€72,281 | +56.8% |
| Fixed assets | 21/28 | €4,012 | €3,103 | -€909 | -22.7% |
| Tangible fixed assets | 22/27 | €4,012 | €3,103 | -€909 | -22.7% |
| Furniture and vehicles | 24 | €4,012 | €3,103 | -€909 | -22.7% |
| Current assets | 29/58 | €123,343 | €196,533 | +€73,190 | +59.3% |
| Amounts receivable within one year | 40/41 | €14,242 | €15,006 | +€764 | +5.4% |
| Trade receivables | 40 | €14,242 | €15,006 | +€764 | +5.4% |
| Cash at bank and in hand | 54/58 | €108,337 | €180,432 | +€72,094 | +66.5% |
| Deferred charges and accrued income | 490/1 | €763 | €1,095 | +€332 | +43.6% |
| Total equity and liabilities | 10/49 | €127,354 | €199,635 | +€72,281 | +56.8% |
| Equity | 10/15 | €88,453 | €160,226 | +€71,774 | +81.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €83,453 | €155,226 | +€71,774 | +86.0% |
| Distributable reserves | 133 | €83,453 | €155,226 | +€71,774 | +86.0% |
| Amounts payable | 17/49 | €38,902 | €39,409 | +€508 | +1.3% |
| Amounts payable within one year | 42/48 | €38,761 | €39,269 | +€508 | +1.3% |
| Trade debts | 44 | €498 | €524 | +€26 | +5.2% |
| Suppliers | 440/4 | €498 | €524 | +€26 | +5.2% |
| Taxes, remuneration and social security | 45 | €30,888 | €27,520 | -€3,368 | -10.9% |
| Taxes | 450/3 | €30,888 | €27,520 | -€3,368 | -10.9% |
| Other amounts payable | 47/48 | €7,375 | €11,225 | +€3,850 | +52.2% |
| Accrued charges and deferred income | 492/3 | €141 | €141 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €534 | €909 | +€375 | +70.2% |
| Other operating charges | 640/8 | €446 | €302 | -€144 | -32.2% |
| Gross operating margin | 9900 | €106,971 | €90,825 | -€16,146 | -15.1% |
| Operating profit (loss) | 9901 | €105,991 | €89,614 | -€16,377 | -15.5% |
| Financial income | 75/76B | €219 | €1,062 | +€843 | +384.8% |
| Recurring financial income | 75 | €219 | €1,062 | +€843 | +384.8% |
| Financial charges | 65/66B | €181 | €46 | -€135 | -74.6% |
| Recurring financial charges | 65 | €181 | €46 | -€135 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €106,029 | €90,630 | -€15,400 | -14.5% |
| Income taxes | 67/77 | €22,577 | €18,856 | -€3,721 | -16.5% |
| Profit (loss) for the period | 9904 | €83,453 | €71,774 | -€11,679 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,453 | €71,774 | -€11,679 | -14.0% |
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 8 October 2026 via checked.be.