THEMAR TRUCKS: 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.
THEMAR TRUCKS
Largest movements
- Cash +€219,354
up €219,354 (+240%), from €91,541 to €310,895
mainly Stocks and contracts (+€172,942) and Short-term financial debts (+€125,000)
- Stocks and contracts -€172,942
down €172,942 (-9.1%), from €1.9m to €1.7m
- Short-term financial debts +€125,000
up €125,000 (+29.1%), from €430,000 to €555,000
- Trade debts -€118,402
down €118,402 (-99.9%), from €118,476 to €75
- Reserves +€61,162
up €61,162 (+2.9%), from €2.1m to €2.1m
of which Distributable reserves: +€61,162
- Tax, wage and social debts -€31,442
down €31,442 (-43.9%), from €71,668 to €40,227
of which Remuneration and social security: -€34,336
- Write-downs +€55,000
up €55,000 (+220%), from €25,000 to €80,000
- Depreciation -€52,476
down €52,476 (-62.3%), from €84,211 to €31,735
- Staff costs -€36,836
down €36,836 (-13.8%), from €266,514 to €229,678
- Gross operating margin -€36,128
down €36,128 (-6.8%), from €534,570 to €498,442
- Other operating charges +€16,202
up €16,202 (+45.5%), from €35,571 to €51,773
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 | €2,849,321 | €2,897,940 | +€48,619 | +1.7% |
| Fixed assets | 21/28 | €625,592 | €610,857 | -€14,736 | -2.4% |
| Tangible fixed assets | 22/27 | €624,533 | €609,797 | -€14,736 | -2.4% |
| Land and buildings | 22 | €557,567 | €554,527 | -€3,040 | -0.5% |
| Plant, machinery and equipment | 23 | €20,281 | €17,955 | -€2,325 | -11.5% |
| Furniture and vehicles | 24 | €46,685 | €37,315 | -€9,370 | -20.1% |
| Financial fixed assets | 28 | €1,060 | €1,060 | = | 0.0% |
| Current assets | 29/58 | €2,223,728 | €2,287,083 | +€63,355 | +2.8% |
| Stocks and contracts in progress | 3 | €1,902,264 | €1,729,322 | -€172,942 | -9.1% |
| Stocks | 30/36 | €1,902,264 | €1,729,322 | -€172,942 | -9.1% |
| Amounts receivable within one year | 40/41 | €229,923 | €246,865 | +€16,942 | +7.4% |
| Trade receivables | 40 | €126,586 | €97,758 | -€28,828 | -22.8% |
| Other amounts receivable | 41 | €103,337 | €149,107 | +€45,770 | +44.3% |
| Cash at bank and in hand | 54/58 | €91,541 | €310,895 | +€219,354 | +240% |
| Total equity and liabilities | 10/49 | €2,849,321 | €2,897,940 | +€48,619 | +1.7% |
| Equity | 10/15 | €2,141,520 | €2,202,682 | +€61,162 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,079,520 | €2,140,682 | +€61,162 | +2.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €2,073,320 | €2,134,482 | +€61,162 | +2.9% |
| Amounts payable | 17/49 | €707,800 | €695,257 | -€12,543 | -1.8% |
| Amounts payable within one year | 42/48 | €707,500 | €694,957 | -€12,543 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €430,000 | €555,000 | +€125,000 | +29.1% |
| Credit institutions | 430/8 | €430,000 | €555,000 | +€125,000 | +29.1% |
| Trade debts | 44 | €118,476 | €75 | -€118,402 | -99.9% |
| Suppliers | 440/4 | €118,476 | €75 | -€118,402 | -99.9% |
| Advances received on contracts in progress | 46 | €87,356 | €99,656 | +€12,300 | +14.1% |
| Taxes, remuneration and social security | 45 | €71,668 | €40,227 | -€31,442 | -43.9% |
| Taxes | 450/3 | €7,777 | €10,672 | +€2,895 | +37.2% |
| Remuneration and social security | 454/9 | €63,891 | €29,555 | -€34,336 | -53.7% |
| Accrued charges and deferred income | 492/3 | €300 | €300 | = | 0.0% |
| Non-recurring operating income | 76A | €19,933 | €41,603 | +€21,670 | +109% |
| Remuneration, social security and pensions | 62 | €266,514 | €229,678 | -€36,836 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,211 | €31,735 | -€52,476 | -62.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,000 | €80,000 | +€55,000 | +220% |
| Other operating charges | 640/8 | €35,571 | €51,773 | +€16,202 | +45.5% |
| Gross operating margin | 9900 | €534,570 | €498,442 | -€36,128 | -6.8% |
| Operating profit (loss) | 9901 | €123,274 | €105,256 | -€18,018 | -14.6% |
| Financial income | 75/76B | €633 | €377 | -€256 | -40.4% |
| Recurring financial income | 75 | €633 | €377 | -€256 | -40.4% |
| Financial charges | 65/66B | €36,969 | €25,033 | -€11,936 | -32.3% |
| Recurring financial charges | 65 | €36,969 | €25,033 | -€11,936 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €86,938 | €80,600 | -€6,338 | -7.3% |
| Income taxes | 67/77 | €25,124 | €19,438 | -€5,686 | -22.6% |
| Profit (loss) for the period | 9904 | €61,814 | €61,162 | -€652 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,814 | €61,162 | -€652 | -1.1% |
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 25 October 2026 via checked.be.