THALES CONSULT: 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.
THALES CONSULT
Largest movements
- Current investments +€1.8m
new in 2025: €1.8m
- Financial fixed assets -€403,000
down €403,000 (-100.0%), from €403,000 to €0
- Cash +€291,491
up €291,491 (+2245.1%), from €12,983 to €304,474
mainly Net result for the year (+€2.3m) and Other debts (+€2.0m)
- Tangible fixed assets +€79,677
up €79,677 (+81.4%), from €97,926 to €177,603
of which Furniture and vehicles: +€91,038
- Receivables within one year -€52,311
down €52,311 (-54.1%), from €96,622 to €44,311
of which Trade receivables: -€29,662
- Other debts +€2.0m
up €2.0m (+15230.8%), from €13,000 to €2.0m
- Profit (loss) carried forward -€289,711
down €289,711 (-97.3%), from €297,672 to €7,961
- Financial income +€2.3m
up €2.3m (+64677.5%), from €3,484 to €2.3m
- Gross operating margin +€11,918
up €11,918 (+29.9%), from €39,840 to €51,757
- Depreciation +€3,143
up €3,143 (+24.1%), from €13,033 to €16,176
- Financial charges -€2,840
down €2,840 (-65.4%), from €4,345 to €1,505
- Other operating charges +€584
up €584 (+531.1%), from €110 to €694
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 | €611,921 | €2,281,285 | +€1.7m | +272.8% |
| Fixed assets | 21/28 | €500,926 | €177,603 | -€323,323 | -64.5% |
| Tangible fixed assets | 22/27 | €97,926 | €177,603 | +€79,677 | +81.4% |
| Land and buildings | 22 | €96,519 | €85,306 | -€11,213 | -11.6% |
| Plant, machinery and equipment | 23 | €893 | €744 | -€148 | -16.6% |
| Furniture and vehicles | 24 | €514 | €91,553 | +€91,038 | +17698.3% |
| Financial fixed assets | 28 | €403,000 | €0 | -€403,000 | -100.0% |
| Current assets | 29/58 | €110,995 | €2,103,682 | +€2.0m | +1795.3% |
| Amounts receivable within one year | 40/41 | €96,622 | €44,311 | -€52,311 | -54.1% |
| Trade receivables | 40 | €39,342 | €9,680 | -€29,662 | -75.4% |
| Other amounts receivable | 41 | €57,280 | €34,631 | -€22,649 | -39.5% |
| Current investments | 50/53 | - | €1,750,000 | +€1.8m | |
| Cash at bank and in hand | 54/58 | €12,983 | €304,474 | +€291,491 | +2245.1% |
| Deferred charges and accrued income | 490/1 | €1,390 | €4,897 | +€3,507 | +252.3% |
| Total equity and liabilities | 10/49 | €611,921 | €2,281,285 | +€1.7m | +272.8% |
| Equity | 10/15 | €545,872 | €256,161 | -€289,711 | -53.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €186,200 | €186,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €297,672 | €7,961 | -€289,711 | -97.3% |
| Amounts payable | 17/49 | €66,049 | €2,025,124 | +€2.0m | +2966.1% |
| Amounts payable after more than one year | 17 | €28,826 | €16,136 | -€12,690 | -44.0% |
| Financial debts | 170/4 | €28,826 | €16,136 | -€12,690 | -44.0% |
| Amounts payable within one year | 42/48 | €37,223 | €2,008,988 | +€2.0m | +5297.1% |
| Current portion of amounts payable after more than one year | 42 | €13,585 | €13,235 | -€350 | -2.6% |
| Trade debts | 44 | €8,438 | €1,445 | -€6,992 | -82.9% |
| Suppliers | 440/4 | €8,438 | €1,445 | -€6,992 | -82.9% |
| Taxes, remuneration and social security | 45 | €2,200 | €1,307 | -€893 | -40.6% |
| Taxes | 450/3 | €2,200 | €1,307 | -€893 | -40.6% |
| Other amounts payable | 47/48 | €13,000 | €1,993,000 | +€2.0m | +15230.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,033 | €16,176 | +€3,143 | +24.1% |
| Other operating charges | 640/8 | €110 | €694 | +€584 | +531.1% |
| Gross operating margin | 9900 | €39,840 | €51,757 | +€11,918 | +29.9% |
| Operating profit (loss) | 9901 | €26,697 | €34,887 | +€8,190 | +30.7% |
| Financial income | 75/76B | €3,484 | €2,257,069 | +€2.3m | +64677.5% |
| Recurring financial income | 75 | €3,484 | €2,257,069 | +€2.3m | +64677.5% |
| Financial charges | 65/66B | €4,345 | €1,505 | -€2,840 | -65.4% |
| Recurring financial charges | 65 | €4,345 | €1,505 | -€2,840 | -65.4% |
| Profit (loss) for the period before taxes | 9903 | €25,836 | €2,290,452 | +€2.3m | +8765.2% |
| Income taxes | 67/77 | €241 | €163 | -€78 | -32.5% |
| Profit (loss) for the period | 9904 | €25,595 | €2,290,289 | +€2.3m | +8848.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,595 | €2,290,289 | +€2.3m | +8848.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.