Themelis: 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.
Themelis
Largest movements
- Receivables within one year -€34,162
down €34,162 (-51.3%), from €66,616 to €32,454
of which Trade receivables: -€32,468
- Cash +€10,083
up €10,083 (+46.4%), from €21,730 to €31,812
mainly Receivables within one year (+€34,162) and Tax, wage and social debts (+€9,976)
- Tangible fixed assets -€2,393
down €2,393 (-76.1%), from €3,143 to €750
of which Furniture and vehicles: -€2,268
- Stocks and contracts +€1,248
up €1,248 (+14.6%), from €8,561 to €9,808
- Advances received -€29,395
down €29,395 (-78.5%), from €37,437 to €8,042
- Tax, wage and social debts +€9,976
up €9,976 (+59.1%), from €16,887 to €26,863
of which Remuneration and social security: +€5,541
- Profit (loss) carried forward +€9,846
up €9,846 (+818.0%), from €1,204 to €11,050
- Trade debts -€8,357
down €8,357 (-48.8%), from €17,111 to €8,755
- Current portion of long-term debt -€5,743
no longer reported in 2025 (was €5,743)
- Depreciation -€4,842
down €4,842 (-66.9%), from €7,235 to €2,393
- Gross operating margin -€2,253
down €2,253 (-9.5%), from €23,726 to €21,473
- Financial charges -€1,131
down €1,131 (-38.0%), from €2,973 to €1,842
- Taxes +€945
up €945 (+20.2%), from €4,690 to €5,635
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 | €100,110 | €75,043 | -€25,067 | -25.0% |
| Fixed assets | 21/28 | €3,143 | €750 | -€2,393 | -76.1% |
| Tangible fixed assets | 22/27 | €3,143 | €750 | -€2,393 | -76.1% |
| Plant, machinery and equipment | 23 | €875 | €750 | -€125 | -14.3% |
| Furniture and vehicles | 24 | €2,268 | - | -€2,268 | |
| Current assets | 29/58 | €96,967 | €74,293 | -€22,675 | -23.4% |
| Stocks and contracts in progress | 3 | €8,561 | €9,808 | +€1,248 | +14.6% |
| Stocks | 30/36 | €8,561 | €9,808 | +€1,248 | +14.6% |
| Amounts receivable within one year | 40/41 | €66,616 | €32,454 | -€34,162 | -51.3% |
| Trade receivables | 40 | €58,397 | €25,930 | -€32,468 | -55.6% |
| Other amounts receivable | 41 | €8,218 | €6,524 | -€1,694 | -20.6% |
| Cash at bank and in hand | 54/58 | €21,730 | €31,812 | +€10,083 | +46.4% |
| Deferred charges and accrued income | 490/1 | €62 | €218 | +€157 | +254.7% |
| Total equity and liabilities | 10/49 | €100,110 | €75,043 | -€25,067 | -25.0% |
| Equity | 10/15 | €19,804 | €29,650 | +€9,846 | +49.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,204 | €11,050 | +€9,846 | +818.0% |
| Amounts payable | 17/49 | €80,306 | €45,393 | -€34,913 | -43.5% |
| Amounts payable within one year | 42/48 | €80,306 | €45,393 | -€34,913 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €5,743 | - | -€5,743 | |
| Trade debts | 44 | €17,111 | €8,755 | -€8,357 | -48.8% |
| Suppliers | 440/4 | €17,111 | €8,755 | -€8,357 | -48.8% |
| Advances received on contracts in progress | 46 | €37,437 | €8,042 | -€29,395 | -78.5% |
| Taxes, remuneration and social security | 45 | €16,887 | €26,863 | +€9,976 | +59.1% |
| Taxes | 450/3 | €16,887 | €21,323 | +€4,435 | +26.3% |
| Remuneration and social security | 454/9 | - | €5,541 | +€5,541 | |
| Other amounts payable | 47/48 | €3,127 | €1,733 | -€1,394 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,235 | €2,393 | -€4,842 | -66.9% |
| Other operating charges | 640/8 | €1,715 | €1,913 | +€198 | +11.5% |
| Gross operating margin | 9900 | €23,726 | €21,473 | -€2,253 | -9.5% |
| Operating profit (loss) | 9901 | €14,776 | €17,167 | +€2,391 | +16.2% |
| Financial income | 75/76B | €0 | €157 | +€157 | +313080.0% |
| Recurring financial income | 75 | €0 | €157 | +€157 | +313080.0% |
| Financial charges | 65/66B | €2,973 | €1,842 | -€1,131 | -38.0% |
| Recurring financial charges | 65 | €2,973 | €1,842 | -€1,131 | -38.0% |
| Profit (loss) for the period before taxes | 9903 | €11,803 | €15,482 | +€3,679 | +31.2% |
| Income taxes | 67/77 | €4,690 | €5,635 | +€945 | +20.2% |
| Profit (loss) for the period | 9904 | €7,112 | €9,846 | +€2,734 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,112 | €9,846 | +€2,734 | +38.4% |
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 7 October 2026 via checked.be.