THEMELIA: 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.
THEMELIA
Largest movements
- Current investments -€233,010
down €233,010 (-100.0%), from €233,010 to €0
- Receivables within one year +€174,352
up €174,352 (+32.3%), from €540,576 to €714,927
of which Other amounts receivable: +€345,802
- Tangible fixed assets -€63,227
down €63,227 (-1.8%), from €3.5m to €3.4m
of which Land and buildings: -€58,218
- Reserves -€131,698
down €131,698 (-18.1%), from €727,521 to €595,823
- Staff costs +€46,662
up €46,662 (+202.0%), from €23,098 to €69,761
- Financial income +€31,626
up €31,626 (+141.4%), from €22,368 to €53,994
- Gross operating margin -€15,244
down €15,244 (-239.2%), from -€6,373 to -€21,617
- Depreciation +€301
up €301 (+0.4%), from €77,062 to €77,364
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 | €4,287,427 | €4,183,420 | -€104,007 | -2.4% |
| Fixed assets | 21/28 | €3,485,842 | €3,422,615 | -€63,227 | -1.8% |
| Tangible fixed assets | 22/27 | €3,485,842 | €3,422,615 | -€63,227 | -1.8% |
| Land and buildings | 22 | €3,456,148 | €3,397,930 | -€58,218 | -1.7% |
| Plant, machinery and equipment | 23 | €2,257 | €1,065 | -€1,192 | -52.8% |
| Furniture and vehicles | 24 | €20,187 | €16,370 | -€3,817 | -18.9% |
| Other tangible fixed assets | 26 | €7,250 | €7,250 | = | 0.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €801,585 | €760,805 | -€40,780 | -5.1% |
| Amounts receivable within one year | 40/41 | €540,576 | €714,927 | +€174,352 | +32.3% |
| Trade receivables | 40 | €174,860 | €3,410 | -€171,450 | -98.1% |
| Other amounts receivable | 41 | €365,716 | €711,518 | +€345,802 | +94.6% |
| Current investments | 50/53 | €233,010 | €0 | -€233,010 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,966 | €2,253 | -€6,714 | -74.9% |
| Deferred charges and accrued income | 490/1 | €19,033 | €43,625 | +€24,591 | +129.2% |
| Total equity and liabilities | 10/49 | €4,287,427 | €4,183,420 | -€104,007 | -2.4% |
| Equity | 10/15 | €733,721 | €602,023 | -€131,698 | -17.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €727,521 | €595,823 | -€131,698 | -18.1% |
| Distributable reserves | 133 | €727,521 | €595,823 | -€131,698 | -18.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,553,706 | €3,581,396 | +€27,691 | +0.8% |
| Amounts payable after more than one year | 17 | €2,643,175 | €2,643,175 | = | 0.0% |
| Financial debts | 170/4 | €2,643,175 | €2,643,175 | = | 0.0% |
| Amounts payable within one year | 42/48 | €808,939 | €867,916 | +€58,976 | +7.3% |
| Trade debts | 44 | €20,522 | €22,031 | +€1,509 | +7.4% |
| Suppliers | 440/4 | €20,522 | €22,031 | +€1,509 | +7.4% |
| Taxes, remuneration and social security | 45 | €26,442 | €53,588 | +€27,146 | +102.7% |
| Taxes | 450/3 | €24,795 | €48,411 | +€23,616 | +95.2% |
| Remuneration and social security | 454/9 | €1,647 | €5,178 | +€3,531 | +214.3% |
| Other amounts payable | 47/48 | €761,975 | €792,296 | +€30,321 | +4.0% |
| Accrued charges and deferred income | 492/3 | €101,591 | €70,306 | -€31,286 | -30.8% |
| Remuneration, social security and pensions | 62 | €23,098 | €69,761 | +€46,662 | +202.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,062 | €77,364 | +€301 | +0.4% |
| Other operating charges | 640/8 | €2,755 | €2,840 | +€85 | +3.1% |
| Gross operating margin | 9900 | -€6,373 | -€21,617 | -€15,244 | -239.2% |
| Operating profit (loss) | 9901 | -€109,289 | -€171,582 | -€62,293 | -57.0% |
| Financial income | 75/76B | €22,368 | €53,994 | +€31,626 | +141.4% |
| Recurring financial income | 75 | €22,368 | €53,994 | +€31,626 | +141.4% |
| Financial charges | 65/66B | €14,193 | €14,110 | -€83 | -0.6% |
| Recurring financial charges | 65 | €14,193 | €14,110 | -€83 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€101,114 | -€131,698 | -€30,584 | -30.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€101,114 | -€131,698 | -€30,584 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€101,114 | -€131,698 | -€30,584 | -30.2% |
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 9 October 2026 via checked.be.