Themis: 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.
Themis
Largest movements
- Cash +€13,200
up €13,200 (+15.6%), from €84,836 to €98,036
mainly Trade debts (+€10,717) and Deferred charges and accrued income (+€4,721)
- Deferred charges and accrued income -€4,721
no longer reported in 2025 (was €4,721)
- Receivables within one year -€1,808
down €1,808 (-4.7%), from €38,262 to €36,455
of which Trade receivables: -€1,556
- Tangible fixed assets +€1,679
up €1,679 (+97.7%), from €1,718 to €3,397
of which Furniture and vehicles: +€1,882
- Profit (loss) carried forward +€41,819
up €41,819, from -€41,786 to €33
- Reserves -€39,786
down €39,786 (-26.1%), from €152,208 to €112,422
- Trade debts +€10,717
up €10,717 (+249%), from €4,310 to €15,027
- Other debts -€1,882
no longer reported in 2025 (was €1,882)
- Tax, wage and social debts -€1,824
down €1,824 (-12.5%), from €14,586 to €12,763
of which Taxes: -€4,218
- Gross operating margin -€20,493
down €20,493 (-59.4%), from €34,481 to €13,989
- Taxes +€7,204
up €7,204 (+224%), from €3,220 to €10,424
- Financial income +€1,908
up €1,908 (+657%), from €290 to €2,198
- Other operating charges +€1,215
up €1,215 (+375%), from €324 to €1,539
- Depreciation +€657
up €657 (+99.8%), from €658 to €1,315
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 | €143,745 | €152,789 | +€9,044 | +6.3% |
| Fixed assets | 21/28 | €1,728 | €3,397 | +€1,669 | +96.6% |
| Tangible fixed assets | 22/27 | €1,718 | €3,397 | +€1,679 | +97.7% |
| Plant, machinery and equipment | 23 | €319 | €116 | -€203 | -63.7% |
| Furniture and vehicles | 24 | €1,400 | €3,281 | +€1,882 | +134% |
| Financial fixed assets | 28 | €10 | - | -€10 | |
| Current assets | 29/58 | €142,017 | €149,392 | +€7,375 | +5.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €38,262 | €36,455 | -€1,808 | -4.7% |
| Trade receivables | 40 | €36,152 | €34,596 | -€1,556 | -4.3% |
| Other amounts receivable | 41 | €2,111 | €1,859 | -€252 | -11.9% |
| Current investments | 50/53 | €14,198 | €14,902 | +€704 | +5.0% |
| Cash at bank and in hand | 54/58 | €84,836 | €98,036 | +€13,200 | +15.6% |
| Deferred charges and accrued income | 490/1 | €4,721 | - | -€4,721 | |
| Total equity and liabilities | 10/49 | €143,745 | €152,789 | +€9,044 | +6.3% |
| Equity | 10/15 | €122,822 | €124,854 | +€2,033 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €152,208 | €112,422 | -€39,786 | -26.1% |
| Distributable reserves | 133 | €152,208 | €112,422 | -€39,786 | -26.1% |
| Profit (loss) carried forward | 14 | -€41,786 | €33 | +€41,819 | |
| Amounts payable | 17/49 | €20,924 | €27,935 | +€7,011 | +33.5% |
| Amounts payable within one year | 42/48 | €20,924 | €27,935 | +€7,011 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | - | €145 | +€145 | |
| Financial debts | 43 | €145 | - | -€145 | |
| Credit institutions | 430/8 | €145 | - | -€145 | |
| Trade debts | 44 | €4,310 | €15,027 | +€10,717 | +249% |
| Suppliers | 440/4 | €4,310 | €15,027 | +€10,717 | +249% |
| Taxes, remuneration and social security | 45 | €14,586 | €12,763 | -€1,824 | -12.5% |
| Taxes | 450/3 | €14,586 | €10,368 | -€4,218 | -28.9% |
| Remuneration and social security | 454/9 | €0 | €2,395 | +€2,395 | |
| Other amounts payable | 47/48 | €1,882 | - | -€1,882 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €658 | €1,315 | +€657 | +99.8% |
| Other operating charges | 640/8 | €324 | €1,539 | +€1,215 | +375% |
| Gross operating margin | 9900 | €34,481 | €13,989 | -€20,493 | -59.4% |
| Operating profit (loss) | 9901 | €33,499 | €11,134 | -€22,365 | -66.8% |
| Financial income | 75/76B | €290 | €2,198 | +€1,908 | +657% |
| Recurring financial income | 75 | €290 | €2,198 | +€1,908 | +657% |
| Financial charges | 65/66B | €460 | €876 | +€416 | +90.5% |
| Recurring financial charges | 65 | €460 | €876 | +€416 | +90.5% |
| Profit (loss) for the period before taxes | 9903 | €33,329 | €12,457 | -€20,873 | -62.6% |
| Income taxes | 67/77 | €3,220 | €10,424 | +€7,204 | +224% |
| Profit (loss) for the period | 9904 | €30,109 | €2,033 | -€28,076 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,109 | €2,033 | -€28,076 | -93.2% |
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 14 October 2026 via checked.be.