THEMA CONSULT: 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.
THEMA CONSULT
Largest movements
- Receivables within one year -€401,413
down €401,413 (-99.7%), from €402,538 to €1,124
- Cash +€283,263
up €283,263 (+65.5%), from €432,209 to €715,472
mainly Receivables within one year (+€401,413) and Net result for the year (+€53,643)
- Other debts -€144,720
down €144,720 (-24.5%), from €591,676 to €446,956
- Reserves +€53,643
up €53,643 (+9.8%), from €549,878 to €603,520
of which Distributable reserves: +€53,643
- Gross operating margin +€2,707
up €2,707 (+3.6%), from €74,418 to €77,125
- Taxes +€1,228
up €1,228 (+5.2%), from €23,817 to €25,045
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 | €1,927,331 | €1,807,657 | -€119,674 | -6.2% |
| Fixed assets | 21/28 | €1,090,887 | €1,090,887 | = | 0.0% |
| Tangible fixed assets | 22/27 | €112,197 | €112,197 | = | 0.0% |
| Land and buildings | 22 | €112,197 | €112,197 | = | 0.0% |
| Financial fixed assets | 28 | €978,690 | €978,690 | = | 0.0% |
| Current assets | 29/58 | €836,444 | €716,770 | -€119,674 | -14.3% |
| Amounts receivable within one year | 40/41 | €402,538 | €1,124 | -€401,413 | -99.7% |
| Other amounts receivable | 41 | €402,538 | €1,124 | -€401,413 | -99.7% |
| Cash at bank and in hand | 54/58 | €432,209 | €715,472 | +€283,263 | +65.5% |
| Deferred charges and accrued income | 490/1 | €1,697 | €173 | -€1,523 | -89.8% |
| Total equity and liabilities | 10/49 | €1,927,331 | €1,807,657 | -€119,674 | -6.2% |
| Equity | 10/15 | €1,294,953 | €1,348,596 | +€53,643 | +4.1% |
| Contributions | 10/11 | €745,076 | €745,076 | = | 0.0% |
| Capital | 10 | €745,076 | €745,076 | = | 0.0% |
| Issued capital | 100 | €745,076 | €745,076 | = | 0.0% |
| Reserves | 13 | €549,878 | €603,520 | +€53,643 | +9.8% |
| Non-distributable reserves | 130/1 | €74,508 | €74,508 | = | 0.0% |
| Legal reserve | 130 | €74,508 | €74,508 | = | 0.0% |
| Distributable reserves | 133 | €475,370 | €529,013 | +€53,643 | +11.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €632,378 | €459,061 | -€173,317 | -27.4% |
| Amounts payable after more than one year | 17 | €12,042 | €0 | -€12,042 | -100.0% |
| Financial debts | 170/4 | €12,042 | €0 | -€12,042 | -100.0% |
| Amounts payable within one year | 42/48 | €620,315 | €458,998 | -€161,317 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €28,639 | €12,042 | -€16,598 | -58.0% |
| Other amounts payable | 47/48 | €591,676 | €446,956 | -€144,720 | -24.5% |
| Accrued charges and deferred income | 492/3 | €21 | €63 | +€42 | +199.0% |
| Other operating charges | 640/8 | €1,238 | €1,273 | +€35 | +2.8% |
| Gross operating margin | 9900 | €74,418 | €77,125 | +€2,707 | +3.6% |
| Operating profit (loss) | 9901 | €73,180 | €75,852 | +€2,672 | +3.7% |
| Financial income | 75/76B | €2,944 | €3,679 | +€735 | +25.0% |
| Recurring financial income | 75 | €2,944 | €3,679 | +€735 | +25.0% |
| Financial charges | 65/66B | €1,294 | €843 | -€451 | -34.8% |
| Recurring financial charges | 65 | €1,294 | €843 | -€451 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €74,830 | €78,688 | +€3,858 | +5.2% |
| Income taxes | 67/77 | €23,817 | €25,045 | +€1,228 | +5.2% |
| Profit (loss) for the period | 9904 | €51,013 | €53,643 | +€2,630 | +5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €51,013 | €53,643 | +€2,630 | +5.2% |
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 8 October 2026 via checked.be.