THEMCHLO: 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.
THEMCHLO
Largest movements
- Cash +€21,527
up €21,527 (+78.4%), from €27,464 to €48,991
mainly Net result for the year (+€35,510) and Tax, wage and social debts (+€3,748)
- Deferred charges and accrued income +€12,926
up €12,926 (+51.5%), from €25,088 to €38,014
- Tangible fixed assets +€4,435
up €4,435 (+302.9%), from €1,464 to €5,899
of which Other tangible fixed assets: +€2,635
- Receivables within one year -€1,614
down €1,614 (-94.3%), from €1,711 to €97
- Reserves +€35,510
up €35,510 (+131.5%), from €27,004 to €62,514
- Other debts -€4,238
down €4,238 (-38.2%), from €11,085 to €6,847
- Tax, wage and social debts +€3,748
up €3,748 (+32.2%), from €11,646 to €15,395
- Trade debts +€1,240
up €1,240 (+125.0%), from €992 to €2,232
- Current portion of long-term debt +€1,013
new in 2025: €1,013
- Gross operating margin +€14,723
up €14,723 (+38.5%), from €38,220 to €52,943
- Taxes +€3,489
up €3,489 (+32.4%), from €10,759 to €14,248
- Depreciation +€1,002
up €1,002 (+1858.6%), from €54 to €1,056
- Other operating charges +€996
up €996 (+599.7%), from €166 to €1,162
- Financial charges +€737
up €737 (+309.3%), from €238 to €975
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 | €55,727 | €93,001 | +€37,274 | +66.9% |
| Fixed assets | 21/28 | €1,464 | €5,899 | +€4,435 | +302.9% |
| Tangible fixed assets | 22/27 | €1,464 | €5,899 | +€4,435 | +302.9% |
| Furniture and vehicles | 24 | €1,464 | €3,264 | +€1,800 | +122.9% |
| Other tangible fixed assets | 26 | - | €2,635 | +€2,635 | |
| Current assets | 29/58 | €54,263 | €87,102 | +€32,839 | +60.5% |
| Amounts receivable within one year | 40/41 | €1,711 | €97 | -€1,614 | -94.3% |
| Trade receivables | 40 | €1,711 | €97 | -€1,614 | -94.3% |
| Cash at bank and in hand | 54/58 | €27,464 | €48,991 | +€21,527 | +78.4% |
| Deferred charges and accrued income | 490/1 | €25,088 | €38,014 | +€12,926 | +51.5% |
| Total equity and liabilities | 10/49 | €55,727 | €93,001 | +€37,274 | +66.9% |
| Equity | 10/15 | €32,004 | €67,514 | +€35,510 | +111.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,004 | €62,514 | +€35,510 | +131.5% |
| Distributable reserves | 133 | €27,004 | €62,514 | +€35,510 | +131.5% |
| Amounts payable | 17/49 | €23,723 | €25,487 | +€1,763 | +7.4% |
| Amounts payable within one year | 42/48 | €23,723 | €25,487 | +€1,763 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | - | €1,013 | +€1,013 | |
| Trade debts | 44 | €992 | €2,232 | +€1,240 | +125.0% |
| Suppliers | 440/4 | €992 | €2,232 | +€1,240 | +125.0% |
| Taxes, remuneration and social security | 45 | €11,646 | €15,395 | +€3,748 | +32.2% |
| Taxes | 450/3 | €11,646 | €15,395 | +€3,748 | +32.2% |
| Other amounts payable | 47/48 | €11,085 | €6,847 | -€4,238 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54 | €1,056 | +€1,002 | +1858.6% |
| Other operating charges | 640/8 | €166 | €1,162 | +€996 | +599.7% |
| Gross operating margin | 9900 | €38,220 | €52,943 | +€14,723 | +38.5% |
| Operating profit (loss) | 9901 | €38,001 | €50,726 | +€12,725 | +33.5% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €238 | €975 | +€737 | +309.3% |
| Recurring financial charges | 65 | €238 | €975 | +€737 | +309.3% |
| Profit (loss) for the period before taxes | 9903 | €37,762 | €49,759 | +€11,996 | +31.8% |
| Income taxes | 67/77 | €10,759 | €14,248 | +€3,489 | +32.4% |
| Profit (loss) for the period | 9904 | €27,004 | €35,510 | +€8,507 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,004 | €35,510 | +€8,507 | +31.5% |
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 5 October 2026 via checked.be.