Theeuwes Groep: what changed
What changed
Theeuwes Groep
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€30,682
2024 · €4.9m-€4.8m
Equity
€25.7m
2024 · €25.6m+€30,682
Cash
€19,254
2024 · €5.5m-€5.5m
Balance sheet total
€41.9m
2024 · €44.8m-€2.9m
Largest movements
Assets
- Cash -€5.5m
down €5.5m (-99.6%), from €5.5m to €19,254
mainly Current investments (-€3.5m) and Debts after one year (-€2.0m)
- Current investments +€3.5m
new in 2025: €3.5m
- Financial fixed assets -€882,343
down €882,343 (-2.2%), from €39.3m to €38.4m
Equity and liabilities
- Debts after one year -€2.0m
down €2.0m (-11.3%), from €17.8m to €15.8m
- Short-term financial debts -€880,000
no longer reported in 2025 (was €880,000)
Income statement
- Financial income -€5.3m
down €5.3m (-98.0%), from €5.4m to €108,080
- Taxes -€474,371
down €474,371 (-97.4%), from €487,000 to €12,629
- Financial charges +€33,086
up €33,086 (+18,280%), from €181 to €33,267
- Gross operating margin +€10,478
up €10,478 (+25.3%), from -€41,460 to -€30,982
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€4.9m
Gross operating margin
+€10,478
Other operating charges
-€117
Financial income
-€5.3m
Financial charges
-€33,086
Taxes
+€474,371
Result 2025
€30,682
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,228
Investment
-€2.6m
Financing
-€2.9m
Cash 2024
€5.5m
From operations (derived)
+€3,228
Net result for the year
+€30,682
Receivables within one year
+€20,295
Smaller working-capital items
+€1,758
Other debts
-€24,692
Accrued charges and deferred income
-€24,815
Investment (derived)
-€2.6m
Investment in fixed assets (net)
+€882,343
Current investments
-€3.5m
Financing
-€2.9m
Debts after one year
-€2.0m
Short-term financial debts
-€880,000
Cash 2025
€19,254
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,815,334 | €41,921,897 | -€2.9m | -6.5% |
| Fixed assets | 21/28 | €39,301,403 | €38,419,060 | -€882,343 | -2.2% |
| Financial fixed assets | 28 | €39,301,403 | €38,419,060 | -€882,343 | -2.2% |
| Current assets | 29/58 | €5,513,931 | €3,502,837 | -€2.0m | -36.5% |
| Amounts receivable within one year | 40/41 | €33,248 | €12,953 | -€20,295 | -61.0% |
| Other amounts receivable | 41 | €33,248 | €12,953 | -€20,295 | -61.0% |
| Current investments | 50/53 | - | €3,467,000 | +€3.5m | |
| Cash at bank and in hand | 54/58 | €5,480,683 | €19,254 | -€5.5m | -99.6% |
| Deferred charges and accrued income | 490/1 | - | €3,630 | +€3,630 | |
| Total equity and liabilities | 10/49 | €44,815,334 | €41,921,897 | -€2.9m | -6.5% |
| Equity | 10/15 | €25,625,446 | €25,656,128 | +€30,682 | +0.1% |
| Contributions | 10/11 | €3,320,000 | €3,320,000 | = | 0.0% |
| Reserves | 13 | €22,305,446 | €22,336,128 | +€30,682 | +0.1% |
| Non-distributable reserves | 130/1 | €20,725 | €20,725 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,725 | €20,725 | = | 0.0% |
| Distributable reserves | 133 | €22,284,721 | €22,315,403 | +€30,682 | +0.1% |
| Amounts payable | 17/49 | €19,189,888 | €16,265,769 | -€2.9m | -15.2% |
| Amounts payable after more than one year | 17 | €17,766,288 | €15,766,288 | -€2.0m | -11.3% |
| Financial debts | 170/4 | €17,766,288 | €15,766,288 | -€2.0m | -11.3% |
| Amounts payable within one year | 42/48 | €1,397,446 | €498,142 | -€899,304 | -64.4% |
| Financial debts | 43 | €880,000 | - | -€880,000 | |
| Other loans | 439 | €880,000 | - | -€880,000 | |
| Trade debts | 44 | €4,458 | €2,587 | -€1,871 | -42.0% |
| Suppliers | 440/4 | €4,458 | €2,587 | -€1,871 | -42.0% |
| Taxes, remuneration and social security | 45 | €488,296 | €495,555 | +€7,259 | +1.5% |
| Taxes | 450/3 | €488,296 | €495,555 | +€7,259 | +1.5% |
| Other amounts payable | 47/48 | €24,692 | - | -€24,692 | |
| Accrued charges and deferred income | 492/3 | €26,154 | €1,339 | -€24,815 | -94.9% |
| Other operating charges | 640/8 | €403 | €520 | +€117 | +29.0% |
| Gross operating margin | 9900 | -€41,460 | -€30,982 | +€10,478 | +25.3% |
| Operating profit (loss) | 9901 | -€41,863 | -€31,502 | +€10,361 | +24.7% |
| Financial income | 75/76B | €5,400,005 | €108,080 | -€5.3m | -98.0% |
| Recurring financial income | 75 | €5,400,005 | €108,080 | -€5.3m | -98.0% |
| Financial charges | 65/66B | €181 | €33,267 | +€33,086 | +18,280% |
| Recurring financial charges | 65 | €181 | €33,267 | +€33,086 | +18,280% |
| Profit (loss) for the period before taxes | 9903 | €5,357,961 | €43,311 | -€5.3m | -99.2% |
| Income taxes | 67/77 | €487,000 | €12,629 | -€474,371 | -97.4% |
| Profit (loss) for the period | 9904 | €4,870,961 | €30,682 | -€4.8m | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,870,961 | €30,682 | -€4.8m | -99.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.