TETHYS: 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.
TETHYS
Largest movements
- Tangible fixed assets -€21,871
down €21,871 (-14.1%), from €155,054 to €133,183
of which Furniture and vehicles: -€17,648
- Receivables within one year -€18,412
down €18,412 (-100.0%), from €18,417 to €5
of which Trade receivables: -€10,789
- Cash +€14,091
up €14,091 (+171.4%), from €8,222 to €22,313
mainly Depreciation (+€21,871) and Receivables within one year (+€18,412)
- Debts after one year -€9,716
down €9,716 (-26.3%), from €36,985 to €27,270
- Profit (loss) carried forward -€8,209
down €8,209 (-8.9%), from €92,382 to €84,173
- Tax, wage and social debts -€6,107
down €6,107 (-30.6%), from €19,973 to €13,867
of which Taxes: -€10,279
- Other debts -€3,648
down €3,648 (-11.0%), from €33,189 to €29,541
- Gross operating margin +€47,496
up €47,496 (+192.1%), from €24,718 to €72,214
- Staff costs +€35,741
up €35,741 (+304.5%), from €11,736 to €47,478
- Depreciation +€11,281
up €11,281 (+106.5%), from €10,589 to €21,871
- Financial charges +€9,149
up €9,149 (+832.6%), from €1,099 to €10,248
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 | €195,631 | €168,906 | -€26,726 | -13.7% |
| Fixed assets | 21/28 | €160,754 | €138,883 | -€21,871 | -13.6% |
| Tangible fixed assets | 22/27 | €155,054 | €133,183 | -€21,871 | -14.1% |
| Plant, machinery and equipment | 23 | €39,781 | €35,558 | -€4,223 | -10.6% |
| Furniture and vehicles | 24 | €115,273 | €97,625 | -€17,648 | -15.3% |
| Financial fixed assets | 28 | €5,700 | €5,700 | = | 0.0% |
| Current assets | 29/58 | €34,878 | €30,023 | -€4,855 | -13.9% |
| Stocks and contracts in progress | 3 | €7,809 | €7,167 | -€642 | -8.2% |
| Stocks | 30/36 | €7,809 | €7,167 | -€642 | -8.2% |
| Amounts receivable within one year | 40/41 | €18,417 | €5 | -€18,412 | -100.0% |
| Trade receivables | 40 | €10,789 | - | -€10,789 | |
| Other amounts receivable | 41 | €7,628 | €5 | -€7,623 | -99.9% |
| Cash at bank and in hand | 54/58 | €8,222 | €22,313 | +€14,091 | +171.4% |
| Deferred charges and accrued income | 490/1 | €429 | €538 | +€108 | +25.2% |
| Total equity and liabilities | 10/49 | €195,631 | €168,906 | -€26,726 | -13.7% |
| Equity | 10/15 | €93,382 | €85,173 | -€8,209 | -8.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,382 | €84,173 | -€8,209 | -8.9% |
| Amounts payable | 17/49 | €102,249 | €83,733 | -€18,516 | -18.1% |
| Amounts payable after more than one year | 17 | €36,985 | €27,270 | -€9,716 | -26.3% |
| Financial debts | 170/4 | €36,985 | €27,270 | -€9,716 | -26.3% |
| Amounts payable within one year | 42/48 | €65,263 | €55,463 | -€9,800 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €9,279 | €9,716 | +€437 | +4.7% |
| Trade debts | 44 | €2,822 | €2,339 | -€483 | -17.1% |
| Suppliers | 440/4 | €2,822 | €2,339 | -€483 | -17.1% |
| Taxes, remuneration and social security | 45 | €19,973 | €13,867 | -€6,107 | -30.6% |
| Taxes | 450/3 | €16,999 | €6,721 | -€10,279 | -60.5% |
| Remuneration and social security | 454/9 | €2,974 | €7,146 | +€4,172 | +140.3% |
| Other amounts payable | 47/48 | €33,189 | €29,541 | -€3,648 | -11.0% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Remuneration, social security and pensions | 62 | €11,736 | €47,478 | +€35,741 | +304.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,589 | €21,871 | +€11,281 | +106.5% |
| Other operating charges | 640/8 | €939 | €526 | -€413 | -44.0% |
| Gross operating margin | 9900 | €24,718 | €72,214 | +€47,496 | +192.1% |
| Operating profit (loss) | 9901 | €1,453 | €2,339 | +€886 | +61.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,099 | €10,248 | +€9,149 | +832.6% |
| Recurring financial charges | 65 | €1,099 | €10,248 | +€9,149 | +832.6% |
| Profit (loss) for the period before taxes | 9903 | €354 | -€7,909 | -€8,263 | |
| Income taxes | 67/77 | -€154 | €301 | +€455 | |
| Profit (loss) for the period | 9904 | €509 | -€8,209 | -€8,718 | |
| Profit (loss) for the period to be appropriated | 9905 | €509 | -€8,209 | -€8,718 |
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 5 October 2026 via checked.be.