THEATRAL: 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.
THEATRAL
Largest movements
- Tangible fixed assets -€56,009
down €56,009 (-14.8%), from €377,998 to €321,988
of which Other tangible fixed assets: -€29,364
- Receivables within one year +€23,371
up €23,371 (+165.8%), from €14,097 to €37,468
of which Trade receivables: +€26,497
- Cash +€18,850
up €18,850 (+16.0%), from €117,565 to €136,415
mainly Depreciation (+€61,413) and Trade debts (+€18,989)
- Profit (loss) carried forward -€37,904
down €37,904 (-6.4%), from -€590,147 to -€628,051
- Trade debts +€18,989
up €18,989 (+90.3%), from €21,021 to €40,010
- Tax, wage and social debts +€6,780
up €6,780 (+18.5%), from €36,607 to €43,386
of which Remuneration and social security: +€5,552
- Gross operating margin -€61,721
down €61,721 (-18.8%), from €328,213 to €266,492
- Staff costs -€46,064
down €46,064 (-16.7%), from €275,342 to €229,279
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 | €544,762 | €531,030 | -€13,731 | -2.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €385,100 | €324,926 | -€60,174 | -15.6% |
| Intangible fixed assets | 21 | €6,272 | €2,107 | -€4,165 | -66.4% |
| Tangible fixed assets | 22/27 | €377,998 | €321,988 | -€56,009 | -14.8% |
| Plant, machinery and equipment | 23 | €104,150 | €86,589 | -€17,561 | -16.9% |
| Furniture and vehicles | 24 | €40,821 | €31,736 | -€9,085 | -22.3% |
| Other tangible fixed assets | 26 | €233,026 | €203,663 | -€29,364 | -12.6% |
| Financial fixed assets | 28 | €830 | €830 | = | 0.0% |
| Current assets | 29/58 | €159,662 | €206,105 | +€46,443 | +29.1% |
| Stocks and contracts in progress | 3 | €26,863 | €29,599 | +€2,736 | +10.2% |
| Stocks | 30/36 | €26,863 | €29,599 | +€2,736 | +10.2% |
| Amounts receivable within one year | 40/41 | €14,097 | €37,468 | +€23,371 | +165.8% |
| Trade receivables | 40 | €10,968 | €37,464 | +€26,497 | +241.6% |
| Other amounts receivable | 41 | €3,129 | €4 | -€3,126 | -99.9% |
| Cash at bank and in hand | 54/58 | €117,565 | €136,415 | +€18,850 | +16.0% |
| Deferred charges and accrued income | 490/1 | €1,137 | €2,623 | +€1,486 | +130.6% |
| Total equity and liabilities | 10/49 | €544,762 | €531,030 | -€13,731 | -2.5% |
| Equity | 10/15 | -€570,147 | -€608,051 | -€37,904 | -6.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€590,147 | -€628,051 | -€37,904 | -6.4% |
| Amounts payable | 17/49 | €1,114,908 | €1,139,081 | +€24,173 | +2.2% |
| Amounts payable within one year | 42/48 | €1,110,072 | €1,134,612 | +€24,540 | +2.2% |
| Trade debts | 44 | €21,021 | €40,010 | +€18,989 | +90.3% |
| Suppliers | 440/4 | €21,021 | €40,010 | +€18,989 | +90.3% |
| Taxes, remuneration and social security | 45 | €36,607 | €43,386 | +€6,780 | +18.5% |
| Taxes | 450/3 | €19,844 | €21,072 | +€1,228 | +6.2% |
| Remuneration and social security | 454/9 | €16,762 | €22,314 | +€5,552 | +33.1% |
| Other amounts payable | 47/48 | €1,052,445 | €1,051,215 | -€1,230 | -0.1% |
| Accrued charges and deferred income | 492/3 | €4,836 | €4,470 | -€367 | -7.6% |
| Remuneration, social security and pensions | 62 | €275,342 | €229,279 | -€46,064 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,987 | €61,413 | -€574 | -0.9% |
| Other operating charges | 640/8 | €12,580 | €10,609 | -€1,971 | -15.7% |
| Gross operating margin | 9900 | €328,213 | €266,492 | -€61,721 | -18.8% |
| Operating profit (loss) | 9901 | -€21,696 | -€34,808 | -€13,113 | -60.4% |
| Financial income | 75/76B | €11 | €3 | -€8 | -73.2% |
| Recurring financial income | 75 | €11 | €3 | -€8 | -73.2% |
| Financial charges | 65/66B | €4,069 | €3,099 | -€970 | -23.8% |
| Recurring financial charges | 65 | €4,069 | €3,099 | -€970 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,753 | -€37,904 | -€12,151 | -47.2% |
| Profit (loss) for the period | 9904 | -€25,753 | -€37,904 | -€12,151 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,753 | -€37,904 | -€12,151 | -47.2% |
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.