THELEME: what changed
Two fiscal 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.
THELEME
Largest movements
- Tangible fixed assets -€11,281
down €11,281 (-4.4%), from €255,246 to €243,965
of which Plant, machinery and equipment: -€6,065
- Cash -€10,437
down €10,437 (-56.6%), from €18,438 to €8,001
mainly Net result for the year (-€21,714) and Deferred charges and accrued income (-€3)
- Profit (loss) carried forward -€21,714
down €21,714 (-11.3%), from -€192,906 to -€214,621
- Depreciation -€3,608
down €3,608 (-24.2%), from €14,889 to €11,281
- Gross operating margin +€2,323
up €2,323 (+24.4%), from -€9,519 to -€7,196
- Purchases and services -€2,061
down €2,061 (-17.1%), from €12,050 to €9,989
- Other operating charges +€98
up €98 (+3.1%), from €3,131 to €3,229
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 | €273,783 | €252,069 | -€21,714 | -7.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €255,246 | €243,965 | -€11,281 | -4.4% |
| Tangible fixed assets | 22/27 | €255,246 | €243,965 | -€11,281 | -4.4% |
| Land and buildings | 22 | €185,892 | €180,676 | -€5,216 | -2.8% |
| Plant, machinery and equipment | 23 | €68,904 | €62,839 | -€6,065 | -8.8% |
| Furniture and vehicles | 24 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €18,537 | €8,103 | -€10,434 | -56.3% |
| Cash at bank and in hand | 54/58 | €18,438 | €8,001 | -€10,437 | -56.6% |
| Deferred charges and accrued income | 490/1 | €100 | €103 | +€3 | +3.1% |
| Total equity and liabilities | 10/49 | €273,783 | €252,069 | -€21,714 | -7.9% |
| Equity | 10/15 | €179,094 | €157,379 | -€21,714 | -12.1% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,906 | -€214,621 | -€21,714 | -11.3% |
| Amounts payable | 17/49 | €94,689 | €94,689 | = | 0.0% |
| Amounts payable within one year | 42/48 | €94,689 | €94,689 | = | 0.0% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €94,689 | €94,689 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €12,050 | €9,989 | -€2,061 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,889 | €11,281 | -€3,608 | -24.2% |
| Other operating charges | 640/8 | €3,131 | €3,229 | +€98 | +3.1% |
| Gross operating margin | 9900 | -€9,519 | -€7,196 | +€2,323 | +24.4% |
| Operating profit (loss) | 9901 | -€27,539 | -€21,706 | +€5,833 | +21.2% |
| Financial income | 75/76B | €36 | €104 | +€69 | +193.3% |
| Recurring financial income | 75 | €36 | €104 | +€69 | +193.3% |
| Financial charges | 65/66B | €77 | €92 | +€15 | +18.9% |
| Recurring financial charges | 65 | €77 | €92 | +€15 | +18.9% |
| Profit (loss) for the period before taxes | 9903 | -€27,580 | -€21,694 | +€5,887 | +21.3% |
| Income taxes | 67/77 | €11 | €21 | +€10 | +93.2% |
| Profit (loss) for the period | 9904 | -€27,591 | -€21,714 | +€5,877 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,591 | -€21,714 | +€5,877 | +21.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.