PARTHEAS: 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.
PARTHEAS
Largest movements
- Intangible fixed assets +€71,799
up €71,799 (+21.7%), from €330,772 to €402,572
- Receivables within one year +€23,661
up €23,661 (+19.5%), from €121,184 to €144,845
of which Trade receivables: +€25,851
- Debts after one year +€78,244
up €78,244 (+382.4%), from €20,464 to €98,707
- Trade debts -€35,285
down €35,285 (-34.9%), from €101,132 to €65,847
- Tax, wage and social debts +€25,657
up €25,657 (+443.2%), from €5,789 to €31,447
of which Taxes: +€17,401
- Other debts +€12,346
up €12,346 (+6.7%), from €182,958 to €195,304
- Short-term financial debts +€11,962
up €11,962 (+122.9%), from €9,732 to €21,694
- Purchases and services -€106,835
no longer reported in 2025 (was €106,835)
- Depreciation +€14,224
up €14,224 (+22.2%), from €64,191 to €78,415
- Staff costs -€6,959
down €6,959 (-14.7%), from €47,460 to €40,501
- Financial charges +€3,364
up €3,364 (+29.7%), from €11,331 to €14,695
- Financial income +€2,531
up €2,531 (+1982.6%), from €128 to €2,659
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €470,887 | €562,153 | +€91,266 | +19.4% |
| Fixed assets | 21/28 | €348,240 | €415,185 | +€66,945 | +19.2% |
| Intangible fixed assets | 21 | €330,772 | €402,572 | +€71,799 | +21.7% |
| Tangible fixed assets | 22/27 | €13,664 | €8,809 | -€4,854 | -35.5% |
| Plant, machinery and equipment | 23 | €3,021 | €2,428 | -€592 | -19.6% |
| Furniture and vehicles | 24 | €10,643 | €6,381 | -€4,262 | -40.0% |
| Financial fixed assets | 28 | €3,804 | €3,804 | = | 0.0% |
| Current assets | 29/58 | €122,646 | €146,968 | +€24,321 | +19.8% |
| Amounts receivable within one year | 40/41 | €121,184 | €144,845 | +€23,661 | +19.5% |
| Trade receivables | 40 | €118,984 | €144,835 | +€25,851 | +21.7% |
| Other amounts receivable | 41 | €2,200 | €10 | -€2,190 | -99.5% |
| Deferred charges and accrued income | 490/1 | €1,462 | €2,123 | +€660 | +45.1% |
| Total equity and liabilities | 10/49 | €470,887 | €562,153 | +€91,266 | +19.4% |
| Equity | 10/15 | €140,756 | €149,155 | +€8,399 | +6.0% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Contributions outside capital | 11 | €160,000 | €160,000 | = | 0.0% |
| Other | 1109/19 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €800 | €1,199 | +€399 | +49.9% |
| Non-distributable reserves | 130/1 | €800 | €1,199 | +€399 | +49.9% |
| Reserves not available under the articles | 1311 | €800 | €1,199 | +€399 | +49.9% |
| Profit (loss) carried forward | 14 | -€20,044 | -€12,044 | +€8,000 | +39.9% |
| Amounts payable | 17/49 | €330,131 | €412,998 | +€82,867 | +25.1% |
| Amounts payable after more than one year | 17 | €20,464 | €98,707 | +€78,244 | +382.4% |
| Financial debts | 170/4 | €20,464 | €98,707 | +€78,244 | +382.4% |
| Amounts payable within one year | 42/48 | €309,667 | €314,291 | +€4,624 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €10,056 | - | -€10,056 | |
| Financial debts | 43 | €9,732 | €21,694 | +€11,962 | +122.9% |
| Credit institutions | 430/8 | €9,732 | €21,694 | +€11,962 | +122.9% |
| Trade debts | 44 | €101,132 | €65,847 | -€35,285 | -34.9% |
| Suppliers | 440/4 | €101,132 | €65,847 | -€35,285 | -34.9% |
| Taxes, remuneration and social security | 45 | €5,789 | €31,447 | +€25,657 | +443.2% |
| Taxes | 450/3 | €1,152 | €18,552 | +€17,401 | +1511.1% |
| Remuneration and social security | 454/9 | €4,638 | €12,894 | +€8,257 | +178.0% |
| Other amounts payable | 47/48 | €182,958 | €195,304 | +€12,346 | +6.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €106,835 | - | -€106,835 | |
| Remuneration, social security and pensions | 62 | €47,460 | €40,501 | -€6,959 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,191 | €78,415 | +€14,224 | +22.2% |
| Other operating charges | 640/8 | €828 | €294 | -€535 | -64.5% |
| Gross operating margin | 9900 | €140,836 | €139,838 | -€998 | -0.7% |
| Operating profit (loss) | 9901 | €28,357 | €20,627 | -€7,730 | -27.3% |
| Financial income | 75/76B | €128 | €2,659 | +€2,531 | +1982.6% |
| Recurring financial income | 75 | €128 | €2,659 | +€2,531 | +1982.6% |
| Financial charges | 65/66B | €11,331 | €14,695 | +€3,364 | +29.7% |
| Recurring financial charges | 65 | €11,331 | €14,695 | +€3,364 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | €17,153 | €8,591 | -€8,562 | -49.9% |
| Income taxes | 67/77 | €1,152 | €192 | -€960 | -83.3% |
| Profit (loss) for the period | 9904 | €16,002 | €8,399 | -€7,602 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,002 | €8,399 | -€7,602 | -47.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.