TH3RD EYE: 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.
TH3RD EYE
Largest movements
- Tangible fixed assets +€122,646
up €122,646 (+718.7%), from €17,064 to €139,710
of which Furniture and vehicles: +€123,044
- Cash -€103,413
down €103,413 (-63.1%), from €164,015 to €60,602
mainly Investment in fixed assets (net) (-€133,880) and Tax, wage and social debts (-€89,876)
- Receivables within one year -€11,851
down €11,851 (-67.5%), from €17,551 to €5,700
- Reserves +€126,284
up €126,284 (+35.2%), from €358,817 to €485,100
- Tax, wage and social debts -€89,876
down €89,876 (-77.3%), from €116,262 to €26,386
of which Taxes: -€83,126
- Debts after one year -€64,129
down €64,129 (-15.7%), from €408,053 to €343,925
- Current portion of long-term debt +€51,133
up €51,133 (+64.3%), from €79,559 to €130,692
- Other debts -€12,078
down €12,078 (-35.7%), from €33,863 to €21,784
- Gross operating margin +€34,152
up €34,152 (+18.0%), from €190,016 to €224,168
- Depreciation +€10,369
up €10,369 (+1198.9%), from €865 to €11,234
- Taxes +€3,420
up €3,420 (+5.9%), from €58,240 to €61,660
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 | €1,025,348 | €1,033,938 | +€8,590 | +0.8% |
| Fixed assets | 21/28 | €841,814 | €964,460 | +€122,646 | +14.6% |
| Tangible fixed assets | 22/27 | €17,064 | €139,710 | +€122,646 | +718.7% |
| Land and buildings | 22 | €16,667 | €16,667 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €123,044 | +€123,044 | |
| Other tangible fixed assets | 26 | €397 | €0 | -€397 | -100.0% |
| Financial fixed assets | 28 | €824,750 | €824,750 | = | 0.0% |
| Current assets | 29/58 | €183,534 | €69,478 | -€114,056 | -62.1% |
| Amounts receivable within one year | 40/41 | €17,551 | €5,700 | -€11,851 | -67.5% |
| Other amounts receivable | 41 | €17,551 | €5,700 | -€11,851 | -67.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €164,015 | €60,602 | -€103,413 | -63.1% |
| Deferred charges and accrued income | 490/1 | €1,969 | €3,176 | +€1,207 | +61.3% |
| Total equity and liabilities | 10/49 | €1,025,348 | €1,033,938 | +€8,590 | +0.8% |
| Equity | 10/15 | €383,617 | €509,900 | +€126,284 | +32.9% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €358,817 | €485,100 | +€126,284 | +35.2% |
| Distributable reserves | 133 | €358,817 | €485,100 | +€126,284 | +35.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €641,732 | €524,038 | -€117,694 | -18.3% |
| Amounts payable after more than one year | 17 | €408,053 | €343,925 | -€64,129 | -15.7% |
| Financial debts | 170/4 | €408,053 | €343,925 | -€64,129 | -15.7% |
| Amounts payable within one year | 42/48 | €233,678 | €180,113 | -€53,565 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €79,559 | €130,692 | +€51,133 | +64.3% |
| Financial debts | 43 | €68 | €60 | -€8 | -12.4% |
| Other loans | 439 | €68 | €60 | -€8 | -12.4% |
| Trade debts | 44 | €3,927 | €1,192 | -€2,735 | -69.7% |
| Suppliers | 440/4 | €3,927 | €1,192 | -€2,735 | -69.7% |
| Taxes, remuneration and social security | 45 | €116,262 | €26,386 | -€89,876 | -77.3% |
| Taxes | 450/3 | €109,512 | €26,386 | -€83,126 | -75.9% |
| Remuneration and social security | 454/9 | €6,750 | €0 | -€6,750 | -100.0% |
| Other amounts payable | 47/48 | €33,863 | €21,784 | -€12,078 | -35.7% |
| Non-recurring operating income | 76A | €0 | €28,952 | +€28,952 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €865 | €11,234 | +€10,369 | +1198.9% |
| Other operating charges | 640/8 | €2,854 | €3,156 | +€302 | +10.6% |
| Gross operating margin | 9900 | €190,016 | €224,168 | +€34,152 | +18.0% |
| Operating profit (loss) | 9901 | €186,297 | €209,778 | +€23,482 | +12.6% |
| Financial income | 75/76B | €1,314 | €4 | -€1,310 | -99.7% |
| Recurring financial income | 75 | €1,314 | €4 | -€1,310 | -99.7% |
| Financial charges | 65/66B | €23,361 | €21,839 | -€1,522 | -6.5% |
| Recurring financial charges | 65 | €23,361 | €21,839 | -€1,522 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €164,250 | €187,944 | +€23,693 | +14.4% |
| Income taxes | 67/77 | €58,240 | €61,660 | +€3,420 | +5.9% |
| Profit (loss) for the period | 9904 | €106,010 | €126,284 | +€20,273 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €106,010 | €126,284 | +€20,273 | +19.1% |
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 3 October 2026 via checked.be.