TETHYS: 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.
TETHYS
Largest movements
- Cash -€47,701
down €47,701 (-78.3%), from €60,924 to €13,223
mainly Net result for the year (-€65,645) and Debts after one year (-€52,328)
- Tangible fixed assets -€37,789
down €37,789 (-3.8%), from €1.0m to €964,377
of which Land and buildings: -€34,034
- Profit (loss) carried forward -€61,618
down €61,618 (-134.4%), from -€45,852 to -€107,470
- Debts after one year -€52,328
down €52,328 (-8.7%), from €598,267 to €545,939
- Short-term financial debts +€49,000
up €49,000 (+48.5%), from €101,000 to €150,000
- Gross operating margin -€35,704
down €35,704 (-73.7%), from €48,423 to €12,719
- Financial charges +€2,810
up €2,810 (+8.1%), from €34,722 to €37,532
- Depreciation -€2,000
down €2,000 (-4.7%), from €42,114 to €40,114
- Taxes -€686
down €686 (-95.5%), from €719 to €32
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 | €1,075,653 | €1,007,094 | -€68,559 | -6.4% |
| Fixed assets | 21/28 | €1,002,166 | €965,377 | -€36,789 | -3.7% |
| Tangible fixed assets | 22/27 | €1,002,166 | €964,377 | -€37,789 | -3.8% |
| Land and buildings | 22 | €986,770 | €952,736 | -€34,034 | -3.4% |
| Plant, machinery and equipment | 23 | €8,683 | €6,685 | -€1,998 | -23.0% |
| Furniture and vehicles | 24 | €6,664 | €4,956 | -€1,709 | -25.6% |
| Other tangible fixed assets | 26 | €48 | €0 | -€48 | -100.0% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €73,487 | €41,717 | -€31,770 | -43.2% |
| Amounts receivable within one year | 40/41 | €11,521 | €18,965 | +€7,444 | +64.6% |
| Trade receivables | 40 | €9,033 | €15,864 | +€6,830 | +75.6% |
| Other amounts receivable | 41 | €2,488 | €3,101 | +€613 | +24.7% |
| Cash at bank and in hand | 54/58 | €60,924 | €13,223 | -€47,701 | -78.3% |
| Deferred charges and accrued income | 490/1 | €1,042 | €9,529 | +€8,488 | +814.9% |
| Total equity and liabilities | 10/49 | €1,075,653 | €1,007,094 | -€68,559 | -6.4% |
| Equity | 10/15 | €179,010 | €113,364 | -€65,645 | -36.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €206,311 | €202,284 | -€4,027 | -2.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,346 | €149,319 | -€4,027 | -2.6% |
| Distributable reserves | 133 | €51,110 | €51,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45,852 | -€107,470 | -€61,618 | -134.4% |
| Provisions and deferred taxes | 16 | €33,001 | €31,659 | -€1,342 | -4.1% |
| Deferred taxes | 168 | €33,001 | €31,659 | -€1,342 | -4.1% |
| Amounts payable | 17/49 | €863,642 | €862,071 | -€1,571 | -0.2% |
| Amounts payable after more than one year | 17 | €598,267 | €545,939 | -€52,328 | -8.7% |
| Financial debts | 170/4 | €598,267 | €545,939 | -€52,328 | -8.7% |
| Amounts payable within one year | 42/48 | €256,842 | €312,062 | +€55,221 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €50,202 | €52,328 | +€2,126 | +4.2% |
| Financial debts | 43 | €101,000 | €150,000 | +€49,000 | +48.5% |
| Other loans | 439 | €101,000 | €150,000 | +€49,000 | +48.5% |
| Trade debts | 44 | €2,845 | €3,674 | +€829 | +29.1% |
| Suppliers | 440/4 | €2,845 | €3,674 | +€829 | +29.1% |
| Taxes, remuneration and social security | 45 | €4,495 | €4,095 | -€400 | -8.9% |
| Taxes | 450/3 | €4,495 | €4,095 | -€400 | -8.9% |
| Other amounts payable | 47/48 | €98,300 | €101,966 | +€3,666 | +3.7% |
| Accrued charges and deferred income | 492/3 | €8,533 | €4,069 | -€4,464 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,114 | €40,114 | -€2,000 | -4.7% |
| Other operating charges | 640/8 | €2,403 | €2,112 | -€292 | -12.1% |
| Gross operating margin | 9900 | €48,423 | €12,719 | -€35,704 | -73.7% |
| Operating profit (loss) | 9901 | €3,905 | -€29,507 | -€33,412 | |
| Financial income | 75/76B | €112 | €84 | -€28 | -24.9% |
| Recurring financial income | 75 | €112 | €84 | -€28 | -24.9% |
| Financial charges | 65/66B | €34,722 | €37,532 | +€2,810 | +8.1% |
| Recurring financial charges | 65 | €34,722 | €37,532 | +€2,810 | +8.1% |
| Profit (loss) for the period before taxes | 9903 | -€30,705 | -€66,955 | -€36,250 | -118.1% |
| Transfer from deferred taxes | 780 | €1,352 | €1,342 | -€10 | -0.7% |
| Income taxes | 67/77 | €719 | €32 | -€686 | -95.5% |
| Profit (loss) for the period | 9904 | -€30,071 | -€65,645 | -€35,574 | -118.3% |
| Transfer from tax-exempt reserves | 789 | €4,067 | €4,027 | -€40 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,004 | -€61,618 | -€35,614 | -137.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.