Thebe: 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.
Thebe
Largest movements
- Receivables within one year -€84,346
down €84,346 (-89.9%), from €93,773 to €9,427
of which Trade receivables: -€84,451
- Cash +€18,512
up €18,512 (+5.0%), from €371,522 to €390,034
mainly Receivables within one year (+€84,346) and Tax, wage and social debts (+€12,555)
- Profit (loss) carried forward -€84,640
down €84,640 (-21.0%), from €402,849 to €318,209
- Tax, wage and social debts +€12,555
up €12,555 (+22.0%), from €57,115 to €69,670
of which Remuneration and social security: +€14,083
- Trade debts +€5,417
up €5,417 (+219.7%), from €2,466 to €7,883
- Gross operating margin -€194,303
down €194,303 (-36.7%), from €529,634 to €335,331
- Purchases and services -€85,977
no longer reported in 2025 (was €85,977)
- Turnover -€19,211
no longer reported in 2025 (was €19,211)
- Staff costs -€12,568
down €12,568 (-2.9%), from €430,934 to €418,366
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 | €468,514 | €403,575 | -€64,939 | -13.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €468,514 | €403,575 | -€64,939 | -13.9% |
| Amounts receivable within one year | 40/41 | €93,773 | €9,427 | -€84,346 | -89.9% |
| Trade receivables | 40 | €93,738 | €9,287 | -€84,451 | -90.1% |
| Other amounts receivable | 41 | €35 | €140 | +€105 | +300.0% |
| Cash at bank and in hand | 54/58 | €371,522 | €390,034 | +€18,512 | +5.0% |
| Deferred charges and accrued income | 490/1 | €3,219 | €4,114 | +€895 | +27.8% |
| Total equity and liabilities | 10/49 | €468,514 | €403,575 | -€64,939 | -13.9% |
| Equity | 10/15 | €408,933 | €324,293 | -€84,640 | -20.7% |
| Contributions | 10/11 | €5,962 | €5,962 | = | 0.0% |
| Capital | 10 | €5,962 | €5,962 | = | 0.0% |
| Reserves | 13 | €122 | €122 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,849 | €318,209 | -€84,640 | -21.0% |
| Amounts payable | 17/49 | €59,581 | €79,282 | +€19,701 | +33.1% |
| Amounts payable within one year | 42/48 | €59,581 | €77,553 | +€17,972 | +30.2% |
| Trade debts | 44 | €2,466 | €7,883 | +€5,417 | +219.7% |
| Suppliers | 440/4 | €2,466 | €7,883 | +€5,417 | +219.7% |
| Taxes, remuneration and social security | 45 | €57,115 | €69,670 | +€12,555 | +22.0% |
| Taxes | 450/3 | €4,673 | €3,145 | -€1,528 | -32.7% |
| Remuneration and social security | 454/9 | €52,442 | €66,525 | +€14,083 | +26.9% |
| Accrued charges and deferred income | 492/3 | - | €1,729 | +€1,729 | |
| Turnover | 70 | €19,211 | - | -€19,211 | |
| Membership fees, donations, legacies and grants | 73 | €596,400 | - | -€596,400 | |
| Goods, raw materials, services and sundry goods | 60/61 | €85,977 | - | -€85,977 | |
| Remuneration, social security and pensions | 62 | €430,934 | €418,366 | -€12,568 | -2.9% |
| Other operating charges | 640/8 | €1,343 | €2,031 | +€688 | +51.2% |
| Non-recurring operating charges | 66A | €1,907 | €1,266 | -€641 | -33.6% |
| Gross operating margin | 9900 | €529,634 | €335,331 | -€194,303 | -36.7% |
| Operating profit (loss) | 9901 | €95,450 | -€86,332 | -€181,782 | |
| Financial income | 75/76B | €256 | €1,922 | +€1,666 | +650.8% |
| Recurring financial income | 75 | €256 | €1,922 | +€1,666 | +650.8% |
| Financial charges | 65/66B | €19 | €229 | +€210 | +1105.3% |
| Recurring financial charges | 65 | €19 | €229 | +€210 | +1105.3% |
| Profit (loss) for the period before taxes | 9903 | €95,687 | -€84,639 | -€180,326 | |
| Income taxes | 67/77 | €75 | - | -€75 | |
| Profit (loss) for the period | 9904 | €95,612 | -€84,639 | -€180,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €95,612 | -€84,639 | -€180,251 |
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 12 October 2026 via checked.be.