Thalie: 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.
What changed
Thalie
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€188,537
2025 · €187,518+€1,018
Equity
€1.8m
2025 · €1.6m+€188,537
Cash
€320,381
2025 · €81,866+€238,515
Balance sheet total
€5.4m
2025 · €4.3m+€1.0m
Largest movements
Assets
- Receivables within one year +€996,786
up €996,786 (+59.2%), from €1.7m to €2.7m
of which Other amounts receivable: +€1.0m
- Tangible fixed assets -€286,765
down €286,765 (-18.1%), from €1.6m to €1.3m
- Cash +€238,515
up €238,515 (+291%), from €81,866 to €320,381
mainly Trade debts (+€794,225) and Depreciation (+€273,573)
Equity and liabilities
- Trade debts +€794,225
up €794,225 (+50.7%), from €1.6m to €2.4m
- Profit (loss) carried forward +€188,537
up €188,537 (+7.2%), from -€2.6m to -€2.4m
Income statement
- Provisions -€415,013
down €415,013 (-91.2%), from €455,301 to €40,288
- Gross operating margin -€250,306
down €250,306 (-11.4%), from €2.2m to €2.0m
- Staff costs +€166,313
up €166,313 (+12.9%), from €1.3m to €1.5m
- Depreciation -€29,556
down €29,556 (-9.8%), from €303,129 to €273,573
- Financial income -€26,676
down €26,676 (-59.1%), from €45,124 to €18,448
From the 2025 result to the 2026 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.
Result 2025
€187,518
Gross operating margin
-€250,306
Staff costs
-€166,313
Depreciation
+€29,556
Provisions
+€415,013
Other operating charges
-€449
Financial income
-€26,676
Financial charges
+€194
Result 2026
€188,537
raises the resultlowers the result
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€248,938
Investment
-€10,423
Financing
€0
Cash 2025
€81,866
From operations (derived)
+€248,938
Net result for the year
+€188,537
Depreciation
+€273,573
Stocks and contracts
-€48,381
Receivables within one year
-€996,786
Deferred charges and accrued income
-€13,449
Provisions
+€40,288
Trade debts
+€794,225
Tax, wage and social debts
+€19,646
Other debts
+€699
Accrued charges and deferred income
-€9,414
Investment (derived)
-€10,423
Investment in fixed assets (net)
-€10,423
Cash 2026
€320,381
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,340,331 | €5,374,311 | +€1.0m | +23.8% |
| Fixed assets | 21/28 | €1,585,361 | €1,322,211 | -€263,150 | -16.6% |
| Intangible fixed assets | 21 | €446 | €278 | -€169 | -37.7% |
| Tangible fixed assets | 22/27 | €1,584,914 | €1,298,150 | -€286,765 | -18.1% |
| Plant, machinery and equipment | 23 | €46,034 | €52,567 | +€6,533 | +14.2% |
| Furniture and vehicles | 24 | €587,548 | €473,327 | -€114,221 | -19.4% |
| Other tangible fixed assets | 26 | €885,077 | €760,911 | -€124,166 | -14.0% |
| Assets under construction and advance payments | 27 | €66,254 | €11,344 | -€54,911 | -82.9% |
| Financial fixed assets | 28 | - | €23,783 | +€23,783 | |
| Current assets | 29/58 | €2,754,970 | €4,052,101 | +€1.3m | +47.1% |
| Stocks and contracts in progress | 3 | €689,046 | €737,427 | +€48,381 | +7.0% |
| Stocks | 30/36 | €689,046 | €737,427 | +€48,381 | +7.0% |
| Amounts receivable within one year | 40/41 | €1,682,903 | €2,679,688 | +€996,786 | +59.2% |
| Trade receivables | 40 | €31,122 | €16,816 | -€14,306 | -46.0% |
| Other amounts receivable | 41 | €1,651,781 | €2,662,872 | +€1.0m | +61.2% |
| Cash at bank and in hand | 54/58 | €81,866 | €320,381 | +€238,515 | +291% |
| Deferred charges and accrued income | 490/1 | €301,155 | €314,605 | +€13,449 | +4.5% |
| Total equity and liabilities | 10/49 | €4,340,331 | €5,374,311 | +€1.0m | +23.8% |
| Equity | 10/15 | €1,620,355 | €1,808,891 | +€188,537 | +11.6% |
| Contributions | 10/11 | €4,210,750 | €4,210,750 | = | 0.0% |
| Reserves | 13 | €32,308 | €32,308 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,308 | €32,308 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,308 | €32,308 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,622,703 | -€2,434,166 | +€188,537 | +7.2% |
| Provisions and deferred taxes | 16 | €455,310 | €495,599 | +€40,288 | +8.8% |
| Provisions for liabilities and charges | 160/5 | €455,310 | €495,599 | +€40,288 | +8.8% |
| Other liabilities and charges | 164/5 | €455,310 | €495,599 | +€40,288 | +8.8% |
| Amounts payable | 17/49 | €2,264,666 | €3,069,821 | +€805,156 | +35.6% |
| Amounts payable within one year | 42/48 | €1,991,166 | €2,805,736 | +€814,570 | +40.9% |
| Trade debts | 44 | €1,566,780 | €2,361,005 | +€794,225 | +50.7% |
| Suppliers | 440/4 | €1,566,780 | €2,361,005 | +€794,225 | +50.7% |
| Taxes, remuneration and social security | 45 | €422,359 | €442,005 | +€19,646 | +4.7% |
| Taxes | 450/3 | €195,466 | €217,299 | +€21,833 | +11.2% |
| Remuneration and social security | 454/9 | €226,893 | €224,706 | -€2,187 | -1.0% |
| Other amounts payable | 47/48 | €2,027 | €2,726 | +€699 | +34.5% |
| Accrued charges and deferred income | 492/3 | €273,499 | €264,085 | -€9,414 | -3.4% |
| Non-recurring operating income | 76A | €40,481 | €22,641 | -€17,840 | -44.1% |
| Remuneration, social security and pensions | 62 | €1,293,180 | €1,459,493 | +€166,313 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303,129 | €273,573 | -€29,556 | -9.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €455,301 | €40,288 | -€415,013 | -91.2% |
| Other operating charges | 640/8 | €8,307 | €8,755 | +€449 | +5.4% |
| Gross operating margin | 9900 | €2,202,862 | €1,952,556 | -€250,306 | -11.4% |
| Operating profit (loss) | 9901 | €142,946 | €170,447 | +€27,501 | +19.2% |
| Financial income | 75/76B | €45,124 | €18,448 | -€26,676 | -59.1% |
| Recurring financial income | 75 | €45,124 | €18,448 | -€26,676 | -59.1% |
| Financial charges | 65/66B | €552 | €358 | -€194 | -35.1% |
| Recurring financial charges | 65 | €552 | €358 | -€194 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €187,518 | €188,537 | +€1,018 | +0.5% |
| Profit (loss) for the period | 9904 | €187,518 | €188,537 | +€1,018 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €187,518 | €188,537 | +€1,018 | +0.5% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.