THEEUWEN: 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.
THEEUWEN
Largest movements
- Receivables within one year +€15,665
up €15,665 (+353%), from €4,437 to €20,102
of which Trade receivables: +€14,683
- Cash +€5,335
up €5,335 (+147%), from €3,621 to €8,955
mainly Debts after one year (+€30,000) and Advances received (+€12,988)
- Deferred charges and accrued income +€385
up €385 (+62.0%), from €621 to €1,005
- Debts after one year +€30,000
up €30,000 (+15.8%), from €190,000 to €220,000
- Profit (loss) carried forward -€26,152
down €26,152 (-12.6%), from -€206,907 to -€233,059
- Advances received +€12,988
new in 2025: €12,988
- Trade debts +€3,281
up €3,281 (+101%), from €3,244 to €6,525
- Other debts +€2,268
up €2,268 (+257%), from €881 to €3,149
- Gross operating margin +€19,966
up €19,966 (+43.3%), from -€46,081 to -€26,114
- Financial income +€542
up €542 (+220%), from €246 to €788
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 | €8,678 | €30,063 | +€21,385 | +246% |
| Current assets | 29/58 | €8,678 | €30,063 | +€21,385 | +246% |
| Amounts receivable within one year | 40/41 | €4,437 | €20,102 | +€15,665 | +353% |
| Trade receivables | 40 | €4,413 | €19,095 | +€14,683 | +333% |
| Other amounts receivable | 41 | €24 | €1,007 | +€982 | +4,015% |
| Cash at bank and in hand | 54/58 | €3,621 | €8,955 | +€5,335 | +147% |
| Deferred charges and accrued income | 490/1 | €621 | €1,005 | +€385 | +62.0% |
| Total equity and liabilities | 10/49 | €8,678 | €30,063 | +€21,385 | +246% |
| Equity | 10/15 | -€186,447 | -€212,599 | -€26,152 | -14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | -€206,907 | -€233,059 | -€26,152 | -12.6% |
| Amounts payable | 17/49 | €195,125 | €242,662 | +€47,537 | +24.4% |
| Amounts payable after more than one year | 17 | €190,000 | €220,000 | +€30,000 | +15.8% |
| Financial debts | 170/4 | €190,000 | €220,000 | +€30,000 | +15.8% |
| Amounts payable within one year | 42/48 | €5,125 | €22,662 | +€17,537 | +342% |
| Trade debts | 44 | €3,244 | €6,525 | +€3,281 | +101% |
| Suppliers | 440/4 | €3,244 | €6,525 | +€3,281 | +101% |
| Advances received on contracts in progress | 46 | - | €12,988 | +€12,988 | |
| Taxes, remuneration and social security | 45 | €1,000 | - | -€1,000 | |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €881 | €3,149 | +€2,268 | +257% |
| Other operating charges | 640/8 | €863 | €661 | -€202 | -23.4% |
| Gross operating margin | 9900 | -€46,081 | -€26,114 | +€19,966 | +43.3% |
| Operating profit (loss) | 9901 | -€46,943 | -€26,775 | +€20,168 | +43.0% |
| Financial income | 75/76B | €246 | €788 | +€542 | +220% |
| Recurring financial income | 75 | €246 | €788 | +€542 | +220% |
| Financial charges | 65/66B | €153 | €165 | +€12 | +7.7% |
| Recurring financial charges | 65 | €153 | €165 | +€12 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€46,850 | -€26,152 | +€20,698 | +44.2% |
| Profit (loss) for the period | 9904 | -€46,850 | -€26,152 | +€20,698 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,850 | -€26,152 | +€20,698 | +44.2% |
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 22 October 2026 via checked.be.