THALASSA: 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.
THALASSA
Largest movements
- Receivables within one year -€37,513
down €37,513 (-96.3%), from €38,951 to €1,439
of which Other amounts receivable: -€37,255
- Cash +€29,691
up €29,691 (+49.8%), from €59,583 to €89,274
mainly Receivables within one year (+€37,513) and Net result for the year (+€7,025)
- Deferred charges and accrued income +€2,406
up €2,406 (+47.5%), from €5,062 to €7,468
- Debts after one year -€11,814
down €11,814 (-62.9%), from €18,782 to €6,968
- Reserves +€7,025
up €7,025 (+8.0%), from €88,210 to €95,235
- Gross operating margin -€4,467
down €4,467 (-21.4%), from €20,887 to €16,420
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 | €139,385 | €134,622 | -€4,763 | -3.4% |
| Fixed assets | 21/28 | €35,789 | €36,442 | +€653 | +1.8% |
| Tangible fixed assets | 22/27 | €35,789 | €36,442 | +€653 | +1.8% |
| Land and buildings | 22 | €35,484 | €36,442 | +€959 | +2.7% |
| Plant, machinery and equipment | 23 | €140 | €0 | -€140 | -100.0% |
| Furniture and vehicles | 24 | €166 | €0 | -€166 | -100.0% |
| Current assets | 29/58 | €103,596 | €98,180 | -€5,417 | -5.2% |
| Amounts receivable within one year | 40/41 | €38,951 | €1,439 | -€37,513 | -96.3% |
| Trade receivables | 40 | €258 | €0 | -€258 | -100.0% |
| Other amounts receivable | 41 | €38,693 | €1,439 | -€37,255 | -96.3% |
| Cash at bank and in hand | 54/58 | €59,583 | €89,274 | +€29,691 | +49.8% |
| Deferred charges and accrued income | 490/1 | €5,062 | €7,468 | +€2,406 | +47.5% |
| Total equity and liabilities | 10/49 | €139,385 | €134,622 | -€4,763 | -3.4% |
| Equity | 10/15 | €107,515 | €114,540 | +€7,025 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €705 | €705 | = | 0.0% |
| Reserves | 13 | €88,210 | €95,235 | +€7,025 | +8.0% |
| Distributable reserves | 133 | €88,210 | €95,235 | +€7,025 | +8.0% |
| Profit (loss) carried forward | 14 | - | €0 | +€0 | |
| Amounts payable | 17/49 | €31,870 | €20,082 | -€11,788 | -37.0% |
| Amounts payable after more than one year | 17 | €18,782 | €6,968 | -€11,814 | -62.9% |
| Financial debts | 170/4 | €18,782 | €6,968 | -€11,814 | -62.9% |
| Amounts payable within one year | 42/48 | €13,089 | €13,114 | +€26 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €11,651 | €11,814 | +€163 | +1.4% |
| Taxes, remuneration and social security | 45 | €1,438 | €1,300 | -€137 | -9.5% |
| Taxes | 450/3 | €1,438 | €1,300 | -€137 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,156 | €2,299 | +€143 | +6.7% |
| Other operating charges | 640/8 | €3,149 | €3,204 | +€54 | +1.7% |
| Gross operating margin | 9900 | €20,887 | €16,420 | -€4,467 | -21.4% |
| Operating profit (loss) | 9901 | €15,582 | €10,917 | -€4,665 | -29.9% |
| Financial charges | 65/66B | €569 | €592 | +€23 | +4.0% |
| Recurring financial charges | 65 | €569 | €592 | +€23 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €15,013 | €10,325 | -€4,687 | -31.2% |
| Income taxes | 67/77 | €3,438 | €3,300 | -€137 | -4.0% |
| Profit (loss) for the period | 9904 | €11,575 | €7,025 | -€4,550 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,575 | €7,025 | -€4,550 | -39.3% |
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 11 October 2026 via checked.be.