Themos: what changed
Themos
Largest movements
- Cash -€51,782
down €51,782 (-94.9%), from €54,585 to €2,803
mainly Investment in fixed assets (net) (-€54,149) and Receivables within one year (-€35,545)
- Receivables within one year +€35,545
new in 2025: €35,545
- Tangible fixed assets +€19,517
up €19,517 (+15.5%), from €125,922 to €145,439
of which Leasing and similar rights: +€45,811
- Stocks and contracts +€15,860
up €15,860 (+19.5%), from €81,427 to €97,287
- Deferred charges and accrued income -€15,292
down €15,292 (-95.3%), from €16,046 to €754
- Tax, wage and social debts -€28,653
down €28,653 (-76.0%), from €37,698 to €9,045
of which Taxes: -€28,655
- Debts after one year +€13,734
up €13,734 (+14.6%), from €93,799 to €107,533
- Current portion of long-term debt +€11,295
up €11,295 (+52.4%), from €21,572 to €32,867
- Other debts +€10,414
up €10,414 (+17.2%), from €60,667 to €71,080
- Trade debts +€6,737
up €6,737 (+464%), from €1,451 to €8,188
- Depreciation +€29,907
up €29,907 (+633%), from €4,725 to €34,632
- Gross operating margin -€20,908
down €20,908 (-34.2%), from €61,143 to €40,234
- Taxes -€8,100
down €8,100 (-93.8%), from €8,636 to €536
- Financial charges +€2,195
up €2,195 (+31.8%), from €6,907 to €9,102
- Other operating charges -€833
down €833 (-53.4%), from €1,562 to €728
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €278,380 | €282,228 | +€3,848 | +1.4% |
| Fixed assets | 21/28 | €126,322 | €145,839 | +€19,517 | +15.5% |
| Tangible fixed assets | 22/27 | €125,922 | €145,439 | +€19,517 | +15.5% |
| Plant, machinery and equipment | 23 | €818 | - | -€818 | |
| Furniture and vehicles | 24 | €125,104 | €99,628 | -€25,476 | -20.4% |
| Leasing and similar rights | 25 | - | €45,811 | +€45,811 | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €152,058 | €136,389 | -€15,669 | -10.3% |
| Stocks and contracts in progress | 3 | €81,427 | €97,287 | +€15,860 | +19.5% |
| Stocks | 30/36 | €81,427 | €97,287 | +€15,860 | +19.5% |
| Amounts receivable within one year | 40/41 | - | €35,545 | +€35,545 | |
| Trade receivables | 40 | - | €35,545 | +€35,545 | |
| Cash at bank and in hand | 54/58 | €54,585 | €2,803 | -€51,782 | -94.9% |
| Deferred charges and accrued income | 490/1 | €16,046 | €754 | -€15,292 | -95.3% |
| Total equity and liabilities | 10/49 | €278,380 | €282,228 | +€3,848 | +1.4% |
| Equity | 10/15 | €58,279 | €53,515 | -€4,764 | -8.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €57,279 | €52,515 | -€4,764 | -8.3% |
| Distributable reserves | 133 | €57,279 | €52,515 | -€4,764 | -8.3% |
| Amounts payable | 17/49 | €220,100 | €228,713 | +€8,612 | +3.9% |
| Amounts payable after more than one year | 17 | €93,799 | €107,533 | +€13,734 | +14.6% |
| Financial debts | 170/4 | €93,799 | €107,533 | +€13,734 | +14.6% |
| Amounts payable within one year | 42/48 | €121,387 | €121,180 | -€207 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €21,572 | €32,867 | +€11,295 | +52.4% |
| Trade debts | 44 | €1,451 | €8,188 | +€6,737 | +464% |
| Suppliers | 440/4 | €1,451 | €8,188 | +€6,737 | +464% |
| Taxes, remuneration and social security | 45 | €37,698 | €9,045 | -€28,653 | -76.0% |
| Taxes | 450/3 | €35,049 | €6,394 | -€28,655 | -81.8% |
| Remuneration and social security | 454/9 | €2,648 | €2,650 | +€2 | +0.1% |
| Other amounts payable | 47/48 | €60,667 | €71,080 | +€10,414 | +17.2% |
| Accrued charges and deferred income | 492/3 | €4,915 | - | -€4,915 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,725 | €34,632 | +€29,907 | +633% |
| Other operating charges | 640/8 | €1,562 | €728 | -€833 | -53.4% |
| Non-recurring operating charges | 66A | €8,424 | - | -€8,424 | |
| Gross operating margin | 9900 | €61,143 | €40,234 | -€20,908 | -34.2% |
| Operating profit (loss) | 9901 | €46,432 | €4,874 | -€41,558 | -89.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €6,907 | €9,102 | +€2,195 | +31.8% |
| Recurring financial charges | 65 | €6,907 | €9,102 | +€2,195 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €39,525 | -€4,228 | -€43,753 | |
| Income taxes | 67/77 | €8,636 | €536 | -€8,100 | -93.8% |
| Profit (loss) for the period | 9904 | €30,889 | -€4,764 | -€35,653 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,889 | -€4,764 | -€35,653 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.