Thalamus: 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.
Thalamus
Largest movements
- Current investments -€150,800
down €150,800 (-100%), from €150,800 to €0
- Cash +€91,204
up €91,204 (+259%), from €35,161 to €126,365
mainly Current investments (+€150,800) and Net result for the year (+€126,856)
- Receivables within one year +€20,663
up €20,663 (+116%), from €17,788 to €38,451
of which Trade receivables: +€18,103
- Other debts -€142,639
down €142,639 (-86.8%), from €164,293 to €21,654
- Reserves +€126,856
up €126,856 (+12,118%), from €1,047 to €127,903
- Tax, wage and social debts -€22,150
down €22,150 (-64.5%), from €34,358 to €12,207
- Gross operating margin -€45,251
down €45,251 (-21.7%), from €208,637 to €163,386
- Taxes -€11,832
down €11,832 (-24.3%), from €48,638 to €36,806
- Depreciation -€8,077
down €8,077 (-94.0%), from €8,589 to €511
- Financial income -€5,932
down €5,932 (-74.6%), from €7,955 to €2,023
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 | €205,961 | €166,362 | -€39,599 | -19.2% |
| Fixed assets | 21/28 | €2,057 | €1,545 | -€511 | -24.9% |
| Tangible fixed assets | 22/27 | €2,057 | €1,545 | -€511 | -24.9% |
| Furniture and vehicles | 24 | €2,057 | €1,545 | -€511 | -24.9% |
| Current assets | 29/58 | €203,904 | €164,816 | -€39,087 | -19.2% |
| Amounts receivable within one year | 40/41 | €17,788 | €38,451 | +€20,663 | +116% |
| Trade receivables | 40 | €17,788 | €35,891 | +€18,103 | +102% |
| Other amounts receivable | 41 | €0 | €2,560 | +€2,560 | |
| Current investments | 50/53 | €150,800 | €0 | -€150,800 | -100% |
| Cash at bank and in hand | 54/58 | €35,161 | €126,365 | +€91,204 | +259% |
| Deferred charges and accrued income | 490/1 | €154 | €0 | -€154 | -100% |
| Total equity and liabilities | 10/49 | €205,961 | €166,362 | -€39,599 | -19.2% |
| Equity | 10/15 | €5,547 | €132,403 | +€126,856 | +2,287% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €1,047 | €127,903 | +€126,856 | +12,118% |
| Distributable reserves | 133 | €1,047 | €127,903 | +€126,856 | +12,118% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €200,414 | €33,958 | -€166,455 | -83.1% |
| Amounts payable within one year | 42/48 | €199,051 | €33,958 | -€165,093 | -82.9% |
| Trade debts | 44 | €401 | €98 | -€303 | -75.6% |
| Suppliers | 440/4 | €401 | €98 | -€303 | -75.6% |
| Taxes, remuneration and social security | 45 | €34,358 | €12,207 | -€22,150 | -64.5% |
| Taxes | 450/3 | €34,358 | €12,207 | -€22,150 | -64.5% |
| Other amounts payable | 47/48 | €164,293 | €21,654 | -€142,639 | -86.8% |
| Accrued charges and deferred income | 492/3 | €1,363 | €0 | -€1,363 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,589 | €511 | -€8,077 | -94.0% |
| Other operating charges | 640/8 | €1,126 | €1,163 | +€36 | +3.2% |
| Gross operating margin | 9900 | €208,637 | €163,386 | -€45,251 | -21.7% |
| Operating profit (loss) | 9901 | €198,922 | €161,712 | -€37,210 | -18.7% |
| Financial income | 75/76B | €7,955 | €2,023 | -€5,932 | -74.6% |
| Recurring financial income | 75 | €7,955 | €2,023 | -€5,932 | -74.6% |
| Financial charges | 65/66B | €1,341 | €73 | -€1,268 | -94.6% |
| Recurring financial charges | 65 | €1,341 | €73 | -€1,268 | -94.6% |
| Profit (loss) for the period before taxes | 9903 | €205,535 | €163,662 | -€41,874 | -20.4% |
| Income taxes | 67/77 | €48,638 | €36,806 | -€11,832 | -24.3% |
| Profit (loss) for the period | 9904 | €156,897 | €126,856 | -€30,041 | -19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €156,897 | €126,856 | -€30,041 | -19.1% |
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 27 October 2026 via checked.be.