THELEMONTREE: what changed
THELEMONTREE
Largest movements
- Cash -€32,484
down €32,484 (-58.4%), from €55,584 to €23,100
mainly Receivables after one year (-€31,321) and Investment in fixed assets (net) (-€4,108)
- Receivables after one year +€31,321
up €31,321 (+1,230%), from €2,547 to €33,867
- Receivables within one year +€1,157
up €1,157 (+4.0%), from €28,830 to €29,988
of which Trade receivables: +€2,360
- Reserves +€2,800
up €2,800 (+14.8%), from €18,860 to €21,660
of which Distributable reserves: +€2,800
- Profit (loss) carried forward -€2,361
down €2,361 (-4.1%), from €57,098 to €54,738
- Tax, wage and social debts -€2,048
down €2,048 (-31.7%), from €6,463 to €4,415
- Other debts +€1,459
up €1,459 (+36.8%), from €3,969 to €5,428
- Gross operating margin -€12,227
down €12,227 (-58.6%), from €20,869 to €8,642
- Taxes -€3,650
down €3,650 (-71.6%), from €5,097 to €1,447
- Depreciation +€793
up €793 (+22.4%), from €3,542 to €4,336
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,373 | €93,786 | +€412 | +0.4% |
| Fixed assets | 21/28 | €6,413 | €6,185 | -€227 | -3.5% |
| Intangible fixed assets | 21 | - | €409 | +€409 | |
| Tangible fixed assets | 22/27 | €6,163 | €5,526 | -€637 | -10.3% |
| Plant, machinery and equipment | 23 | €1,112 | €1,823 | +€711 | +63.9% |
| Furniture and vehicles | 24 | €5,051 | €3,703 | -€1,348 | -26.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €86,961 | €87,600 | +€640 | +0.7% |
| Amounts receivable after more than one year | 29 | €2,547 | €33,867 | +€31,321 | +1,230% |
| Other amounts receivable | 291 | €2,547 | €33,867 | +€31,321 | +1,230% |
| Amounts receivable within one year | 40/41 | €28,830 | €29,988 | +€1,157 | +4.0% |
| Trade receivables | 40 | €19,594 | €21,954 | +€2,360 | +12.0% |
| Other amounts receivable | 41 | €9,237 | €8,033 | -€1,203 | -13.0% |
| Cash at bank and in hand | 54/58 | €55,584 | €23,100 | -€32,484 | -58.4% |
| Deferred charges and accrued income | 490/1 | - | €646 | +€646 | |
| Total equity and liabilities | 10/49 | €93,373 | €93,786 | +€412 | +0.4% |
| Equity | 10/15 | €82,158 | €82,598 | +€439 | +0.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,860 | €21,660 | +€2,800 | +14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €19,800 | +€2,800 | +16.5% |
| Profit (loss) carried forward | 14 | €57,098 | €54,738 | -€2,361 | -4.1% |
| Amounts payable | 17/49 | €11,215 | €11,188 | -€27 | -0.2% |
| Amounts payable within one year | 42/48 | €11,215 | €11,188 | -€27 | -0.2% |
| Trade debts | 44 | €783 | €1,345 | +€562 | +71.8% |
| Suppliers | 440/4 | €783 | €1,345 | +€562 | +71.8% |
| Taxes, remuneration and social security | 45 | €6,463 | €4,415 | -€2,048 | -31.7% |
| Taxes | 450/3 | €6,463 | €4,415 | -€2,048 | -31.7% |
| Other amounts payable | 47/48 | €3,969 | €5,428 | +€1,459 | +36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,542 | €4,336 | +€793 | +22.4% |
| Other operating charges | 640/8 | €69 | €72 | +€2 | +3.2% |
| Gross operating margin | 9900 | €20,869 | €8,642 | -€12,227 | -58.6% |
| Operating profit (loss) | 9901 | €17,258 | €4,235 | -€13,023 | -75.5% |
| Financial income | 75/76B | €230 | €259 | +€28 | +12.4% |
| Recurring financial income | 75 | €230 | €259 | +€28 | +12.4% |
| Financial charges | 65/66B | €103 | €108 | +€5 | +4.8% |
| Recurring financial charges | 65 | €103 | €108 | +€5 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €17,385 | €4,386 | -€12,999 | -74.8% |
| Income taxes | 67/77 | €5,097 | €1,447 | -€3,650 | -71.6% |
| Profit (loss) for the period | 9904 | €12,288 | €2,939 | -€9,349 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,288 | €2,939 | -€9,349 | -76.1% |
Next steps
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 2 November 2026 via checked.be.