THENOM: 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.
THENOM
Largest movements
- Cash +€461,566
up €461,566 (+842.2%), from €54,802 to €516,367
mainly Net result for the year (+€401,330) and Investment in fixed assets (net) (+€249,895)
- Tangible fixed assets -€324,513
down €324,513 (-20.7%), from €1.6m to €1.2m
of which Land and buildings: -€311,157
- Receivables within one year -€20,206
down €20,206 (-31.5%), from €64,086 to €43,880
of which Trade receivables: -€17,455
- Reserves +€401,330
up €401,330 (+116.5%), from €344,600 to €745,931
of which Tax-exempt reserves: +€295,115
- Debts after one year -€215,601
down €215,601 (-23.0%), from €937,158 to €721,557
of which Financial debts: -€215,601
- Other debts -€94,763
down €94,763 (-41.4%), from €228,952 to €134,190
- Tax, wage and social debts +€30,167
up €30,167 (+52.0%), from €57,979 to €88,146
- Gross operating margin +€304,297
up €304,297 (+114.4%), from €265,998 to €570,296
- Financial income -€96,576
down €96,576 (-64.3%), from €150,186 to €53,610
- Taxes +€29,056
up €29,056 (+57.8%), from €50,310 to €79,366
- Depreciation -€16,205
down €16,205 (-16.9%), from €95,978 to €79,773
- Financial charges -€7,199
down €7,199 (-15.6%), from €46,210 to €39,011
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 | €1,836,149 | €1,947,841 | +€111,692 | +6.1% |
| Fixed assets | 21/28 | €1,717,261 | €1,387,594 | -€329,668 | -19.2% |
| Intangible fixed assets | 21 | €31,080 | €25,675 | -€5,405 | -17.4% |
| Tangible fixed assets | 22/27 | €1,569,013 | €1,244,500 | -€324,513 | -20.7% |
| Land and buildings | 22 | €1,547,213 | €1,236,056 | -€311,157 | -20.1% |
| Plant, machinery and equipment | 23 | €11,973 | €265 | -€11,708 | -97.8% |
| Furniture and vehicles | 24 | €9,828 | €8,180 | -€1,648 | -16.8% |
| Financial fixed assets | 28 | €117,168 | €117,418 | +€250 | +0.2% |
| Current assets | 29/58 | €118,887 | €560,247 | +€441,360 | +371.2% |
| Amounts receivable within one year | 40/41 | €64,086 | €43,880 | -€20,206 | -31.5% |
| Trade receivables | 40 | €56,836 | €39,381 | -€17,455 | -30.7% |
| Other amounts receivable | 41 | €7,250 | €4,499 | -€2,751 | -37.9% |
| Cash at bank and in hand | 54/58 | €54,802 | €516,367 | +€461,566 | +842.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,836,149 | €1,947,841 | +€111,692 | +6.1% |
| Equity | 10/15 | €352,310 | €753,641 | +€401,330 | +113.9% |
| Contributions | 10/11 | €7,710 | €7,710 | = | 0.0% |
| Reserves | 13 | €344,600 | €745,931 | +€401,330 | +116.5% |
| Tax-exempt reserves | 132 | €213,951 | €509,065 | +€295,115 | +137.9% |
| Distributable reserves | 133 | €130,650 | €236,865 | +€106,216 | +81.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €161,554 | €170,821 | +€9,267 | +5.7% |
| Deferred taxes | 168 | €161,554 | €170,821 | +€9,267 | +5.7% |
| Amounts payable | 17/49 | €1,322,284 | €1,023,379 | -€298,905 | -22.6% |
| Amounts payable after more than one year | 17 | €937,158 | €721,557 | -€215,601 | -23.0% |
| Financial debts | 170/4 | €932,382 | €716,781 | -€215,601 | -23.1% |
| Other amounts payable | 178/9 | €4,776 | €4,776 | = | 0.0% |
| Amounts payable within one year | 42/48 | €384,126 | €300,822 | -€83,304 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €94,311 | €75,093 | -€19,218 | -20.4% |
| Trade debts | 44 | €2,883 | €3,393 | +€510 | +17.7% |
| Suppliers | 440/4 | €2,883 | €3,393 | +€510 | +17.7% |
| Taxes, remuneration and social security | 45 | €57,979 | €88,146 | +€30,167 | +52.0% |
| Taxes | 450/3 | €57,979 | €88,146 | +€30,167 | +52.0% |
| Other amounts payable | 47/48 | €228,952 | €134,190 | -€94,763 | -41.4% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,978 | €79,773 | -€16,205 | -16.9% |
| Other operating charges | 640/8 | €11,758 | €15,158 | +€3,400 | +28.9% |
| Gross operating margin | 9900 | €265,998 | €570,296 | +€304,297 | +114.4% |
| Operating profit (loss) | 9901 | €158,262 | €475,365 | +€317,102 | +200.4% |
| Financial income | 75/76B | €150,186 | €53,610 | -€96,576 | -64.3% |
| Recurring financial income | 75 | €150,186 | €53,610 | -€96,576 | -64.3% |
| Financial charges | 65/66B | €46,210 | €39,011 | -€7,199 | -15.6% |
| Recurring financial charges | 65 | €46,210 | €39,011 | -€7,199 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €262,238 | €489,963 | +€227,725 | +86.8% |
| Transfer from deferred taxes | 780 | €11,801 | €67,483 | +€55,682 | +471.9% |
| Transfer to deferred taxes | 680 | €0 | €76,750 | +€76,750 | |
| Income taxes | 67/77 | €50,310 | €79,366 | +€29,056 | +57.8% |
| Profit (loss) for the period | 9904 | €223,728 | €401,330 | +€177,602 | +79.4% |
| Transfer from tax-exempt reserves | 789 | €11,886 | €11,886 | -€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €307,001 | +€307,001 | |
| Profit (loss) for the period to be appropriated | 9905 | €235,615 | €106,216 | -€129,399 | -54.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.