Lieve 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.
Lieve THEYS
Largest movements
- Cash +€41,074
up €41,074 (+190%), from €21,645 to €62,720
mainly Other debts (+€43,085) and Current investments (+€35,000)
- Current investments -€35,000
down €35,000 (-100%), from €35,000 to €0
- Tangible fixed assets -€8,852
down €8,852 (-24.9%), from €35,562 to €26,710
- Receivables within one year -€1,466
down €1,466 (-10.4%), from €14,031 to €12,565
of which Trade receivables: -€770
- Reserves -€50,238
down €50,238 (-95.5%), from €52,606 to €2,368
- Other debts +€43,085
up €43,085 (+169%), from €25,500 to €68,585
- Accrued charges and deferred income +€3,464
up €3,464 (+845%), from €410 to €3,874
- Financial charges +€2,993
up €2,993 (+4,800%), from €62 to €3,056
- Gross operating margin +€1,899
up €1,899 (+3.9%), from €49,128 to €51,027
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 | €108,189 | €103,841 | -€4,348 | -4.0% |
| Fixed assets | 21/28 | €35,562 | €26,710 | -€8,852 | -24.9% |
| Tangible fixed assets | 22/27 | €35,562 | €26,710 | -€8,852 | -24.9% |
| Furniture and vehicles | 24 | €35,562 | €26,710 | -€8,852 | -24.9% |
| Current assets | 29/58 | €72,627 | €77,131 | +€4,504 | +6.2% |
| Amounts receivable within one year | 40/41 | €14,031 | €12,565 | -€1,466 | -10.4% |
| Trade receivables | 40 | €10,958 | €10,188 | -€770 | -7.0% |
| Other amounts receivable | 41 | €3,073 | €2,377 | -€696 | -22.6% |
| Current investments | 50/53 | €35,000 | €0 | -€35,000 | -100% |
| Cash at bank and in hand | 54/58 | €21,645 | €62,720 | +€41,074 | +190% |
| Deferred charges and accrued income | 490/1 | €1,950 | €1,846 | -€104 | -5.3% |
| Total equity and liabilities | 10/49 | €108,189 | €103,841 | -€4,348 | -4.0% |
| Equity | 10/15 | €71,206 | €20,968 | -€50,238 | -70.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,606 | €2,368 | -€50,238 | -95.5% |
| Distributable reserves | 133 | €52,606 | €2,368 | -€50,238 | -95.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,982 | €82,873 | +€45,890 | +124% |
| Amounts payable within one year | 42/48 | €36,572 | €78,999 | +€42,427 | +116% |
| Trade debts | 44 | €873 | €398 | -€475 | -54.5% |
| Suppliers | 440/4 | €873 | €398 | -€475 | -54.5% |
| Taxes, remuneration and social security | 45 | €10,199 | €10,016 | -€183 | -1.8% |
| Taxes | 450/3 | €10,153 | €9,903 | -€250 | -2.5% |
| Remuneration and social security | 454/9 | €46 | €113 | +€67 | +146% |
| Other amounts payable | 47/48 | €25,500 | €68,585 | +€43,085 | +169% |
| Accrued charges and deferred income | 492/3 | €410 | €3,874 | +€3,464 | +845% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,811 | €8,852 | +€42 | +0.5% |
| Other operating charges | 640/8 | €494 | €833 | +€339 | +68.5% |
| Gross operating margin | 9900 | €49,128 | €51,027 | +€1,899 | +3.9% |
| Operating profit (loss) | 9901 | €39,823 | €41,341 | +€1,519 | +3.8% |
| Financial income | 75/76B | €816 | €532 | -€284 | -34.8% |
| Recurring financial income | 75 | €816 | €532 | -€284 | -34.8% |
| Financial charges | 65/66B | €62 | €3,056 | +€2,993 | +4,800% |
| Recurring financial charges | 65 | €62 | €3,056 | +€2,993 | +4,800% |
| Profit (loss) for the period before taxes | 9903 | €40,577 | €38,818 | -€1,759 | -4.3% |
| Income taxes | 67/77 | €8,659 | €8,369 | -€290 | -3.4% |
| Profit (loss) for the period | 9904 | €31,918 | €30,450 | -€1,469 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,918 | €30,450 | -€1,469 | -4.6% |
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 29 October 2026 via checked.be.