THALIEA: 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.
THALIEA
Largest movements
- Receivables within one year +€58,334
up €58,334 (+59.4%), from €98,281 to €156,614
of which Other amounts receivable: +€70,921
- Cash -€57,381
down €57,381 (-71.0%), from €80,785 to €23,403
mainly Receivables within one year (-€58,334) and Contributions, distributions and other (-€50,000)
- Deferred charges and accrued income +€9,097
up €9,097 (+147%), from €6,184 to €15,282
- Current investments -€3,622
down €3,622 (-100%), from €3,622 to €0
- Other debts +€50,000
new in 2025: €50,000
- Profit (loss) carried forward -€21,966
down €21,966, from €15,200 to -€6,766
- Tax, wage and social debts -€17,223
down €17,223 (-61.3%), from €28,103 to €10,880
of which Taxes: -€21,759
- Current portion of long-term debt -€6,576
down €6,576 (-70.1%), from €9,378 to €2,801
- Debts after one year -€2,801
down €2,801 (-100%), from €2,801 to €0
of which Financial debts: -€2,801
- Gross operating margin -€66,118
down €66,118 (-40.4%), from €163,685 to €97,567
- Taxes -€10,147
down €10,147 (-54.4%), from €18,668 to €8,521
- Other operating charges -€6,610
down €6,610 (-59.7%), from €11,067 to €4,457
- Staff costs +€5,742
up €5,742 (+13.4%), from €42,848 to €48,590
- Financial income +€2,060
up €2,060 (+57.5%), from €3,581 to €5,641
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 | €197,455 | €201,417 | +€3,961 | +2.0% |
| Fixed assets | 21/28 | €8,583 | €6,117 | -€2,466 | -28.7% |
| Intangible fixed assets | 21 | €4,110 | €2,870 | -€1,240 | -30.2% |
| Tangible fixed assets | 22/27 | €4,110 | €2,884 | -€1,226 | -29.8% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €3,717 | €2,884 | -€833 | -22.4% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €393 | €0 | -€393 | -100% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €188,872 | €195,299 | +€6,427 | +3.4% |
| Amounts receivable within one year | 40/41 | €98,281 | €156,614 | +€58,334 | +59.4% |
| Trade receivables | 40 | €26,938 | €14,350 | -€12,588 | -46.7% |
| Other amounts receivable | 41 | €71,343 | €142,264 | +€70,921 | +99.4% |
| Current investments | 50/53 | €3,622 | €0 | -€3,622 | -100% |
| Cash at bank and in hand | 54/58 | €80,785 | €23,403 | -€57,381 | -71.0% |
| Deferred charges and accrued income | 490/1 | €6,184 | €15,282 | +€9,097 | +147% |
| Total equity and liabilities | 10/49 | €197,455 | €201,417 | +€3,961 | +2.0% |
| Equity | 10/15 | €151,331 | €129,364 | -€21,966 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,530 | €117,530 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €115,670 | €115,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,200 | -€6,766 | -€21,966 | |
| Amounts payable | 17/49 | €46,125 | €72,052 | +€25,927 | +56.2% |
| Amounts payable after more than one year | 17 | €2,801 | €0 | -€2,801 | -100% |
| Financial debts | 170/4 | €2,801 | €0 | -€2,801 | -100% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €43,323 | €72,052 | +€28,729 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €9,378 | €2,801 | -€6,576 | -70.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,843 | €8,371 | +€2,528 | +43.3% |
| Suppliers | 440/4 | €5,843 | €8,371 | +€2,528 | +43.3% |
| Taxes, remuneration and social security | 45 | €28,103 | €10,880 | -€17,223 | -61.3% |
| Taxes | 450/3 | €21,957 | €197 | -€21,759 | -99.1% |
| Remuneration and social security | 454/9 | €6,146 | €10,683 | +€4,537 | +73.8% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Remuneration, social security and pensions | 62 | €42,848 | €48,590 | +€5,742 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,076 | €4,051 | -€1,025 | -20.2% |
| Other operating charges | 640/8 | €11,067 | €4,457 | -€6,610 | -59.7% |
| Non-recurring operating charges | 66A | €2,850 | €0 | -€2,850 | -100% |
| Gross operating margin | 9900 | €163,685 | €97,567 | -€66,118 | -40.4% |
| Operating profit (loss) | 9901 | €101,843 | €40,469 | -€61,374 | -60.3% |
| Financial income | 75/76B | €3,581 | €5,641 | +€2,060 | +57.5% |
| Recurring financial income | 75 | €3,581 | €5,641 | +€2,060 | +57.5% |
| Financial charges | 65/66B | €10,536 | €9,555 | -€981 | -9.3% |
| Recurring financial charges | 65 | €10,536 | €9,555 | -€981 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €94,888 | €36,555 | -€58,333 | -61.5% |
| Income taxes | 67/77 | €18,668 | €8,521 | -€10,147 | -54.4% |
| Profit (loss) for the period | 9904 | €76,220 | €28,034 | -€48,186 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,220 | €28,034 | -€48,186 | -63.2% |
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 24 October 2026 via checked.be.