THEIA CONCEPT: 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.
THEIA CONCEPT
Largest movements
- Receivables within one year +€60,678
up €60,678 (+230%), from €26,414 to €87,093
of which Trade receivables: +€64,411
- Cash -€9,472
no longer reported in 2025 (was €9,472)
mainly Receivables within one year (-€60,678) and Net result for the year (-€22,582)
- Tangible fixed assets -€2,354
down €2,354 (-30.8%), from €7,644 to €5,290
of which Plant, machinery and equipment: -€1,427
- Trade debts +€59,266
up €59,266 (+379%), from €15,629 to €74,895
- Profit (loss) carried forward -€22,582
down €22,582 (-57.6%), from -€39,229 to -€61,811
- Short-term financial debts +€10,209
new in 2025: €10,209
- Other debts +€9,800
new in 2025: €9,800
- Tax, wage and social debts -€7,733
down €7,733 (-69.8%), from €11,083 to €3,350
- Gross operating margin +€16,861
up €16,861 (+46.2%), from -€36,514 to -€19,653
- Financial income +€1,165
new in 2025: €1,165
of which Financial income: +€1,165
- Financial charges +€1,143
up €1,143 (+423%), from €271 to €1,414
- Depreciation +€411
up €411 (+21.2%), from €1,943 to €2,354
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 | €44,122 | €93,082 | +€48,960 | +111% |
| Fixed assets | 21/28 | €7,644 | €5,290 | -€2,354 | -30.8% |
| Tangible fixed assets | 22/27 | €7,644 | €5,290 | -€2,354 | -30.8% |
| Plant, machinery and equipment | 23 | €3,546 | €2,119 | -€1,427 | -40.2% |
| Furniture and vehicles | 24 | €2,306 | €1,590 | -€716 | -31.0% |
| Other tangible fixed assets | 26 | €1,792 | €1,580 | -€212 | -11.8% |
| Current assets | 29/58 | €36,478 | €87,792 | +€51,314 | +141% |
| Amounts receivable within one year | 40/41 | €26,414 | €87,093 | +€60,678 | +230% |
| Trade receivables | 40 | €22,385 | €86,796 | +€64,411 | +288% |
| Other amounts receivable | 41 | €4,029 | €296 | -€3,733 | -92.6% |
| Cash at bank and in hand | 54/58 | €9,472 | - | -€9,472 | |
| Deferred charges and accrued income | 490/1 | €593 | €700 | +€107 | +18.1% |
| Total equity and liabilities | 10/49 | €44,122 | €93,082 | +€48,960 | +111% |
| Equity | 10/15 | €17,410 | -€5,172 | -€22,582 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €54,639 | €54,639 | = | 0.0% |
| Distributable reserves | 133 | €54,639 | €54,639 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,229 | -€61,811 | -€22,582 | -57.6% |
| Amounts payable | 17/49 | €26,712 | €98,254 | +€71,542 | +268% |
| Amounts payable within one year | 42/48 | €26,712 | €98,254 | +€71,542 | +268% |
| Financial debts | 43 | - | €10,209 | +€10,209 | |
| Credit institutions | 430/8 | - | €10,209 | +€10,209 | |
| Trade debts | 44 | €15,629 | €74,895 | +€59,266 | +379% |
| Suppliers | 440/4 | €15,629 | €74,895 | +€59,266 | +379% |
| Taxes, remuneration and social security | 45 | €11,083 | €3,350 | -€7,733 | -69.8% |
| Taxes | 450/3 | €11,083 | €3,350 | -€7,733 | -69.8% |
| Other amounts payable | 47/48 | - | €9,800 | +€9,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,943 | €2,354 | +€411 | +21.2% |
| Other operating charges | 640/8 | €387 | €200 | -€187 | -48.4% |
| Gross operating margin | 9900 | -€36,514 | -€19,653 | +€16,861 | +46.2% |
| Operating profit (loss) | 9901 | -€38,845 | -€22,207 | +€16,638 | +42.8% |
| Financial income | 75/76B | - | €1,165 | +€1,165 | |
| Recurring financial income | 75 | - | €1,165 | +€1,165 | |
| Non-recurring financial income | 76B | - | €1,165 | +€1,165 | |
| Financial charges | 65/66B | €271 | €1,414 | +€1,143 | +423% |
| Recurring financial charges | 65 | €271 | €1,414 | +€1,143 | +423% |
| Profit (loss) for the period before taxes | 9903 | -€39,115 | -€22,456 | +€16,659 | +42.6% |
| Income taxes | 67/77 | €114 | €127 | +€13 | +11.4% |
| Profit (loss) for the period | 9904 | -€39,229 | -€22,582 | +€16,646 | +42.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,229 | -€22,582 | +€16,646 | +42.4% |
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 26 October 2026 via checked.be.