Cycles Theys: 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.
Cycles Theys
Largest movements
- Stocks and contracts -€12,179
down €12,179 (-45.0%), from €27,048 to €14,869
- Receivables within one year +€3,683
new in 2025: €3,683
of which Trade receivables: +€2,724
- Cash -€1,241
down €1,241 (-47.7%), from €2,600 to €1,359
mainly Net result for the year (-€10,092) and Receivables within one year (-€3,683)
- Tangible fixed assets -€1,209
down €1,209 (-100.0%), from €1,209 to €0
- Deferred charges and accrued income -€463
down €463 (-59.8%), from €773 to €311
- Profit (loss) carried forward -€10,092
down €10,092 (-70.0%), from €14,408 to €4,316
- Tax, wage and social debts -€2,439
down €2,439 (-49.1%), from €4,965 to €2,527
- Debts after one year +€2,410
up €2,410 (+40.6%), from €5,932 to €8,341
- Trade debts -€1,688
down €1,688 (-31.7%), from €5,326 to €3,638
- Accrued charges and deferred income +€400
new in 2025: €400
- Gross operating margin -€10,779
down €10,779, from €3,476 to -€7,304
- Write-downs +€1,680
no longer reported in 2025 (was -€1,680)
- Taxes -€1,429
down €1,429 (-72.8%), from €1,964 to €535
- Financial charges -€572
down €572 (-63.1%), from €906 to €334
- Other operating charges +€417
up €417 (+81.5%), from €511 to €928
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 | €31,631 | €20,222 | -€11,409 | -36.1% |
| Fixed assets | 21/28 | €1,209 | €0 | -€1,209 | -100.0% |
| Tangible fixed assets | 22/27 | €1,209 | €0 | -€1,209 | -100.0% |
| Plant, machinery and equipment | 23 | €1,209 | €0 | -€1,209 | -100.0% |
| Current assets | 29/58 | €30,421 | €20,222 | -€10,200 | -33.5% |
| Stocks and contracts in progress | 3 | €27,048 | €14,869 | -€12,179 | -45.0% |
| Stocks | 30/36 | €27,048 | €14,869 | -€12,179 | -45.0% |
| Amounts receivable within one year | 40/41 | - | €3,683 | +€3,683 | |
| Trade receivables | 40 | - | €2,724 | +€2,724 | |
| Other amounts receivable | 41 | - | €959 | +€959 | |
| Cash at bank and in hand | 54/58 | €2,600 | €1,359 | -€1,241 | -47.7% |
| Deferred charges and accrued income | 490/1 | €773 | €311 | -€463 | -59.8% |
| Total equity and liabilities | 10/49 | €31,631 | €20,222 | -€11,409 | -36.1% |
| Equity | 10/15 | €15,408 | €5,316 | -€10,092 | -65.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,408 | €4,316 | -€10,092 | -70.0% |
| Amounts payable | 17/49 | €16,223 | €14,906 | -€1,317 | -8.1% |
| Amounts payable after more than one year | 17 | €5,932 | €8,341 | +€2,410 | +40.6% |
| Other amounts payable | 178/9 | €5,932 | €8,341 | +€2,410 | +40.6% |
| Amounts payable within one year | 42/48 | €10,291 | €6,165 | -€4,127 | -40.1% |
| Trade debts | 44 | €5,326 | €3,638 | -€1,688 | -31.7% |
| Suppliers | 440/4 | €5,326 | €3,638 | -€1,688 | -31.7% |
| Taxes, remuneration and social security | 45 | €4,965 | €2,527 | -€2,439 | -49.1% |
| Taxes | 450/3 | €4,965 | €2,527 | -€2,439 | -49.1% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,617 | €1,209 | -€408 | -25.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,680 | - | +€1,680 | |
| Other operating charges | 640/8 | €511 | €928 | +€417 | +81.5% |
| Gross operating margin | 9900 | €3,476 | -€7,304 | -€10,779 | |
| Operating profit (loss) | 9901 | €3,027 | -€9,441 | -€12,468 | |
| Financial income | 75/76B | €260 | €218 | -€41 | -16.0% |
| Recurring financial income | 75 | €260 | €218 | -€41 | -16.0% |
| Financial charges | 65/66B | €906 | €334 | -€572 | -63.1% |
| Recurring financial charges | 65 | €906 | €334 | -€572 | -63.1% |
| Profit (loss) for the period before taxes | 9903 | €2,381 | -€9,557 | -€11,938 | |
| Income taxes | 67/77 | €1,964 | €535 | -€1,429 | -72.8% |
| Profit (loss) for the period | 9904 | €417 | -€10,092 | -€10,509 | |
| Profit (loss) for the period to be appropriated | 9905 | €417 | -€10,092 | -€10,509 |
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 9 October 2026 via checked.be.