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
- Tangible fixed assets -€11,266
down €11,266 (-92.7%), from €12,157 to €891
of which Furniture and vehicles: -€11,063
- Cash -€10,211
down €10,211 (-45.3%), from €22,544 to €12,332
mainly Net result for the year (-€11,038) and Current portion of long-term debt (-€9,211)
- Receivables within one year +€2,914
up €2,914 (+45.8%), from €6,368 to €9,282
of which Other amounts receivable: +€3,682
- Deferred charges and accrued income -€908
no longer reported in 2025 (was €908)
- Stocks and contracts -€689
down €689 (-34.3%), from €2,012 to €1,322
- Profit (loss) carried forward -€11,038
down €11,038, from €3,658 to -€7,380
- Current portion of long-term debt -€9,211
no longer reported in 2025 (was €9,211)
- Gross operating margin -€10,054
down €10,054 (-89.4%), from €11,240 to €1,186
- Taxes -€1,207
down €1,207 (-71.7%), from €1,685 to €477
- Depreciation -€746
down €746 (-6.2%), from €12,012 to €11,266
- Financial income +€502
up €502 (+18312.4%), from €3 to €505
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 | €44,003 | €23,842 | -€20,161 | -45.8% |
| Fixed assets | 21/28 | €12,170 | €904 | -€11,266 | -92.6% |
| Tangible fixed assets | 22/27 | €12,157 | €891 | -€11,266 | -92.7% |
| Plant, machinery and equipment | 23 | €462 | €258 | -€203 | -44.1% |
| Furniture and vehicles | 24 | €11,696 | €633 | -€11,063 | -94.6% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €31,833 | €22,938 | -€8,895 | -27.9% |
| Stocks and contracts in progress | 3 | €2,012 | €1,322 | -€689 | -34.3% |
| Stocks | 30/36 | €2,012 | €1,322 | -€689 | -34.3% |
| Amounts receivable within one year | 40/41 | €6,368 | €9,282 | +€2,914 | +45.8% |
| Trade receivables | 40 | €767 | - | -€767 | |
| Other amounts receivable | 41 | €5,601 | €9,282 | +€3,682 | +65.7% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,544 | €12,332 | -€10,211 | -45.3% |
| Deferred charges and accrued income | 490/1 | €908 | - | -€908 | |
| Total equity and liabilities | 10/49 | €44,003 | €23,842 | -€20,161 | -45.8% |
| Equity | 10/15 | €34,235 | €23,197 | -€11,038 | -32.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €11,984 | €11,984 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €10,125 | €10,125 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,658 | -€7,380 | -€11,038 | |
| Amounts payable | 17/49 | €9,768 | €645 | -€9,123 | -93.4% |
| Amounts payable within one year | 42/48 | €9,768 | €645 | -€9,123 | -93.4% |
| Current portion of amounts payable after more than one year | 42 | €9,211 | - | -€9,211 | |
| Trade debts | 44 | €557 | €645 | +€88 | +15.7% |
| Suppliers | 440/4 | €557 | €645 | +€88 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,012 | €11,266 | -€746 | -6.2% |
| Other operating charges | 640/8 | €801 | €865 | +€63 | +7.9% |
| Gross operating margin | 9900 | €11,240 | €1,186 | -€10,054 | -89.4% |
| Operating profit (loss) | 9901 | -€1,573 | -€10,944 | -€9,371 | -595.6% |
| Financial income | 75/76B | €3 | €505 | +€502 | +18312.4% |
| Recurring financial income | 75 | €3 | €505 | +€502 | +18312.4% |
| Financial charges | 65/66B | €227 | €121 | -€106 | -46.8% |
| Recurring financial charges | 65 | €227 | €121 | -€106 | -46.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,798 | -€10,561 | -€8,763 | -487.4% |
| Income taxes | 67/77 | €1,685 | €477 | -€1,207 | -71.7% |
| Profit (loss) for the period | 9904 | -€3,483 | -€11,038 | -€7,555 | -217.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,483 | -€11,038 | -€7,555 | -217.0% |
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 10 October 2026 via checked.be.