THENIERES: 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.
THENIERES
Largest movements
- Receivables within one year -€14,422
down €14,422 (-10.9%), from €132,515 to €118,093
of which Other amounts receivable: -€80,012
- Tangible fixed assets -€13,960
down €13,960 (-35.0%), from €39,829 to €25,869
of which Furniture and vehicles: -€12,710
- Cash +€4,011
up €4,011 (+40.3%), from €9,947 to €13,959
mainly Net result for the year (+€53,403) and Depreciation (+€19,314)
- Deferred charges and accrued income +€1,836
new in 2025: €1,836
- Reserves +€48,448
new in 2025: €48,448
- Tax, wage and social debts -€44,223
down €44,223 (-56.9%), from €77,785 to €33,561
of which Taxes: -€49,941
- Trade debts -€21,950
down €21,950 (-39.3%), from €55,886 to €33,936
- Other debts -€9,764
down €9,764 (-20.6%), from €47,376 to €37,612
- Profit (loss) carried forward +€4,956
no longer reported in 2025 (was -€4,956)
- Turnover +€150,955
up €150,955 (+39.7%), from €380,612 to €531,567
- Gross operating margin +€111,969
up €111,969 (+140%), from €79,826 to €191,795
- Purchases and services +€55,831
up €55,831 (+18.3%), from €305,432 to €361,263
- Taxes +€37,971
new in 2025: €37,971
- Staff costs +€10,644
up €10,644 (+17.1%), from €62,113 to €72,757
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 | €182,291 | €159,757 | -€22,534 | -12.4% |
| Fixed assets | 21/28 | €39,829 | €25,869 | -€13,960 | -35.0% |
| Tangible fixed assets | 22/27 | €39,829 | €25,869 | -€13,960 | -35.0% |
| Land and buildings | 22 | €1,012 | €902 | -€110 | -10.9% |
| Plant, machinery and equipment | 23 | €3,620 | €2,480 | -€1,140 | -31.5% |
| Furniture and vehicles | 24 | €35,197 | €22,487 | -€12,710 | -36.1% |
| Current assets | 29/58 | €142,463 | €133,889 | -€8,574 | -6.0% |
| Amounts receivable within one year | 40/41 | €132,515 | €118,093 | -€14,422 | -10.9% |
| Trade receivables | 40 | €44,681 | €110,271 | +€65,590 | +147% |
| Other amounts receivable | 41 | €87,835 | €7,822 | -€80,012 | -91.1% |
| Cash at bank and in hand | 54/58 | €9,947 | €13,959 | +€4,011 | +40.3% |
| Deferred charges and accrued income | 490/1 | - | €1,836 | +€1,836 | |
| Total equity and liabilities | 10/49 | €182,291 | €159,757 | -€22,534 | -12.4% |
| Equity | 10/15 | €1,244 | €54,648 | +€53,403 | +4,292% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Reserves | 13 | - | €48,448 | +€48,448 | |
| Distributable reserves | 133 | - | €48,448 | +€48,448 | |
| Profit (loss) carried forward | 14 | -€4,956 | - | +€4,956 | |
| Amounts payable | 17/49 | €181,047 | €105,110 | -€75,937 | -41.9% |
| Amounts payable within one year | 42/48 | €181,047 | €105,110 | -€75,937 | -41.9% |
| Trade debts | 44 | €55,886 | €33,936 | -€21,950 | -39.3% |
| Suppliers | 440/4 | €55,886 | €33,936 | -€21,950 | -39.3% |
| Taxes, remuneration and social security | 45 | €77,785 | €33,561 | -€44,223 | -56.9% |
| Taxes | 450/3 | €77,785 | €27,844 | -€49,941 | -64.2% |
| Remuneration and social security | 454/9 | - | €5,717 | +€5,717 | |
| Other amounts payable | 47/48 | €47,376 | €37,612 | -€9,764 | -20.6% |
| Turnover | 70 | €380,612 | €531,567 | +€150,955 | +39.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €305,432 | €361,263 | +€55,831 | +18.3% |
| Remuneration, social security and pensions | 62 | €62,113 | €72,757 | +€10,644 | +17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,532 | €19,314 | +€782 | +4.2% |
| Other operating charges | 640/8 | €3,515 | €3,074 | -€441 | -12.6% |
| Gross operating margin | 9900 | €79,826 | €191,795 | +€111,969 | +140% |
| Operating profit (loss) | 9901 | -€4,334 | €96,650 | +€100,984 | |
| Financial income | 75/76B | €11 | €0 | -€11 | -97.9% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -97.9% |
| Financial charges | 65/66B | €619 | €5,276 | +€4,656 | +752% |
| Recurring financial charges | 65 | €619 | €5,276 | +€4,656 | +752% |
| Profit (loss) for the period before taxes | 9903 | -€4,942 | €91,375 | +€96,317 | |
| Income taxes | 67/77 | - | €37,971 | +€37,971 | |
| Profit (loss) for the period | 9904 | -€4,942 | €53,403 | +€58,345 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,942 | €53,403 | +€58,345 |
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 20 October 2026 via checked.be.