THAMEUS: 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.
THAMEUS
Largest movements
- Cash +€224,660
up €224,660 (+99.0%), from €226,938 to €451,599
mainly Contributions, distributions and other (+€330,000) and Trade debts (+€49,110)
- Receivables within one year +€37,637
up €37,637 (+280.4%), from €13,424 to €51,061
of which Trade receivables: +€48,471
- Contributions +€330,000
up €330,000 (+100.0%), from €330,000 to €660,000
- Profit (loss) carried forward -€120,416
down €120,416 (-100.1%), from -€120,257 to -€240,673
- Trade debts +€49,110
up €49,110 (+153.5%), from €31,998 to €81,108
- Gross operating margin -€1,604
down €1,604 (-1.4%), from -€118,284 to -€119,888
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 | €241,742 | €502,659 | +€260,918 | +107.9% |
| Formation expenses | 20 | €471 | €0 | -€471 | -100.0% |
| Current assets | 29/58 | €241,271 | €502,659 | +€261,389 | +108.3% |
| Amounts receivable within one year | 40/41 | €13,424 | €51,061 | +€37,637 | +280.4% |
| Trade receivables | 40 | €2,590 | €51,061 | +€48,471 | +1871.4% |
| Other amounts receivable | 41 | €10,834 | €0 | -€10,834 | -100.0% |
| Cash at bank and in hand | 54/58 | €226,938 | €451,599 | +€224,660 | +99.0% |
| Deferred charges and accrued income | 490/1 | €908 | €0 | -€908 | -100.0% |
| Total equity and liabilities | 10/49 | €241,742 | €502,659 | +€260,918 | +107.9% |
| Equity | 10/15 | €209,743 | €419,327 | +€209,584 | +99.9% |
| Contributions | 10/11 | €330,000 | €660,000 | +€330,000 | +100.0% |
| Capital | 10 | €330,000 | €660,000 | +€330,000 | +100.0% |
| Issued capital | 100 | €660,000 | €660,000 | = | 0.0% |
| Uncalled capital | 101 | €330,000 | €0 | -€330,000 | -100.0% |
| Profit (loss) carried forward | 14 | -€120,257 | -€240,673 | -€120,416 | -100.1% |
| Amounts payable | 17/49 | €31,998 | €83,332 | +€51,334 | +160.4% |
| Amounts payable within one year | 42/48 | €31,998 | €83,332 | +€51,334 | +160.4% |
| Trade debts | 44 | €31,998 | €81,108 | +€49,110 | +153.5% |
| Suppliers | 440/4 | €31,998 | €81,108 | +€49,110 | +153.5% |
| Taxes, remuneration and social security | 45 | - | €2,224 | +€2,224 | |
| Taxes | 450/3 | - | €2,224 | +€2,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,412 | €471 | -€941 | -66.7% |
| Other operating charges | 640/8 | €502 | €0 | -€502 | -100.0% |
| Gross operating margin | 9900 | -€118,284 | -€119,888 | -€1,604 | -1.4% |
| Operating profit (loss) | 9901 | -€120,199 | -€120,359 | -€161 | -0.1% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €58 | €61 | +€3 | +4.9% |
| Recurring financial charges | 65 | €58 | €61 | +€3 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | -€120,257 | -€120,416 | -€160 | -0.1% |
| Profit (loss) for the period | 9904 | -€120,257 | -€120,416 | -€160 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€120,257 | -€120,416 | -€160 | -0.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.