Thed: 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.
Thed
Largest movements
- Receivables within one year +€60,171
up €60,171 (+8.8%), from €680,672 to €740,843
- Profit (loss) carried forward +€42,931
up €42,931 (+45.9%), from €93,564 to €136,495
- Other debts +€32,000
up €32,000 (+2.9%), from €1.1m to €1.1m
- Financial income +€4,887
up €4,887 (+8.8%), from €55,284 to €60,171
- Taxes +€2,146
up €2,146 (+15.9%), from €13,482 to €15,628
- Other operating charges +€611
up €611 (+157.8%), from €387 to €998
- Gross operating margin +€357
up €357 (+37.7%), from -€947 to -€590
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 | €1,234,753 | €1,307,605 | +€72,852 | +5.9% |
| Fixed assets | 21/28 | €552,000 | €552,000 | = | 0.0% |
| Financial fixed assets | 28 | €552,000 | €552,000 | = | 0.0% |
| Current assets | 29/58 | €682,753 | €755,605 | +€72,852 | +10.7% |
| Amounts receivable within one year | 40/41 | €680,672 | €740,843 | +€60,171 | +8.8% |
| Other amounts receivable | 41 | €680,672 | €740,843 | +€60,171 | +8.8% |
| Cash at bank and in hand | 54/58 | €2,081 | €14,762 | +€12,681 | +609.5% |
| Total equity and liabilities | 10/49 | €1,234,753 | €1,307,605 | +€72,852 | +5.9% |
| Equity | 10/15 | €103,564 | €146,495 | +€42,931 | +41.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,564 | €136,495 | +€42,931 | +45.9% |
| Amounts payable | 17/49 | €1,131,188 | €1,161,109 | +€29,921 | +2.6% |
| Amounts payable within one year | 42/48 | €1,131,188 | €1,161,109 | +€29,921 | +2.6% |
| Taxes, remuneration and social security | 45 | €31,188 | €29,109 | -€2,079 | -6.7% |
| Taxes | 450/3 | €31,188 | €29,109 | -€2,079 | -6.7% |
| Other amounts payable | 47/48 | €1,100,000 | €1,132,000 | +€32,000 | +2.9% |
| Other operating charges | 640/8 | €387 | €998 | +€611 | +157.8% |
| Gross operating margin | 9900 | -€947 | -€590 | +€357 | +37.7% |
| Operating profit (loss) | 9901 | -€1,334 | -€1,588 | -€254 | -19.1% |
| Financial income | 75/76B | €55,284 | €60,171 | +€4,887 | +8.8% |
| Recurring financial income | 75 | €55,284 | €60,171 | +€4,887 | +8.8% |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €53,926 | €58,559 | +€4,633 | +8.6% |
| Income taxes | 67/77 | €13,482 | €15,628 | +€2,146 | +15.9% |
| Profit (loss) for the period | 9904 | €40,445 | €42,931 | +€2,486 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,445 | €42,931 | +€2,486 | +6.1% |
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 10 October 2026 via checked.be.