THEO Technologies: 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.
What changed
THEO Technologies
NACE 62.100, Computer programming
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
€2.0m
2023 · €593,607+€1.4m
Equity
€3.9m
2023 · €2.1m+€1.8m
Cash
€1.5m
2023 · €183,056+€1.3m
Balance sheet total
€9.8m
2023 · €10.7m-€912,330
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-48.1%), from €3.9m to €2.0m
of which Other amounts receivable: -€962,942
- Cash +€1.3m
up €1.3m (+728%), from €183,056 to €1.5m
mainly Depreciation (+€2.6m) and Net result for the year (+€2.0m)
- Intangible fixed assets -€276,418
down €276,418 (-5.3%), from €5.2m to €4.9m
Equity and liabilities
- Profit (loss) carried forward +€2.0m
up €2.0m, from -€1.1m to €942,982
- Current portion of long-term debt -€2.0m
down €2.0m (-100%), from €2.0m to €0
- Accrued charges and deferred income -€924,896
down €924,896 (-21.2%), from €4.4m to €3.4m
- Other debts +€861,833
new in 2024: €861,833
- Investment grants -€607,353
down €607,353 (-30.7%), from €2.0m to €1.4m
Income statement
- Depreciation -€1.0m
down €1.0m (-27.9%), from €3.6m to €2.6m
- Turnover +€942,870
up €942,870 (+14.0%), from €6.7m to €7.7m
- Staff costs -€761,688
down €761,688 (-21.2%), from €3.6m to €2.8m
- Services and other goods -€333,181
down €333,181 (-9.4%), from €3.5m to €3.2m
- Financial income -€231,222
down €231,222 (-33.0%), from €700,595 to €469,373
From the 2023 result to the 2024 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.
Result 2023
€593,607
Turnover
+€942,870
Other operating income
-€157,145
Services and other goods
+€333,181
Staff costs
+€761,688
Depreciation
+€1.0m
Write-downs
+€34,268
Provisions
-€20,280
Other operating charges
+€5,086
Other operating items
-€1.1m
Financial income
-€231,222
Financial charges
+€91,638
Taxes
-€207,437
Deferred taxes and other
-€25,277
Result 2024
€2.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€6.9m
Investment
-€2.4m
Financing
-€3.2m
Cash 2023
€183,056
From operations (derived)
+€6.9m
Net result for the year
+€2.0m
Depreciation
+€2.6m
Receivables after one year
+€102,443
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€23,618
Trade debts
+€105,245
Tax, wage and social debts
+€238,995
Other debts
+€861,833
Accrued charges and deferred income
-€924,896
Investment (derived)
-€2.4m
Investment in fixed assets (net)
-€2.4m
Financing
-€3.2m
Debts after one year
-€500,000
Current portion of long-term debt
-€2.0m
Short-term financial debts
-€451,824
Contributions, distributions and other
-€246,311
Not broken down
-€1
Cash 2024
€1.5m
brings cash intakes cash outdifference the filed balance sheets leave
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,730,978 | €9,818,648 | -€912,330 | -8.5% |
| Fixed assets | 21/28 | €5,357,390 | €5,103,262 | -€254,128 | -4.7% |
| Intangible fixed assets | 21 | €5,205,134 | €4,928,716 | -€276,418 | -5.3% |
| Tangible fixed assets | 22/27 | €151,326 | €173,616 | +€22,290 | +14.7% |
| Plant, machinery and equipment | 23 | €3,004 | €2,774 | -€230 | -7.6% |
| Furniture and vehicles | 24 | €88,288 | €119,606 | +€31,318 | +35.5% |
| Other tangible fixed assets | 26 | €60,034 | €51,236 | -€8,798 | -14.7% |
| Financial fixed assets | 28 | €930 | €930 | = | 0.0% |
| Other financial fixed assets | 284/8 | €930 | €930 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €930 | €930 | = | 0.0% |
| Current assets | 29/58 | €5,373,588 | €4,715,386 | -€658,202 | -12.2% |
| Amounts receivable after more than one year | 29 | €1,095,026 | €992,583 | -€102,443 | -9.4% |
| Other amounts receivable | 291 | €1,095,026 | €992,583 | -€102,443 | -9.4% |
| Amounts receivable within one year | 40/41 | €3,875,611 | €2,011,718 | -€1.9m | -48.1% |
| Trade receivables | 40 | €2,592,379 | €1,691,428 | -€900,951 | -34.8% |
| Other amounts receivable | 41 | €1,283,232 | €320,290 | -€962,942 | -75.0% |
| Cash at bank and in hand | 54/58 | €183,056 | €1,514,808 | +€1.3m | +728% |
| Deferred charges and accrued income | 490/1 | €219,895 | €196,277 | -€23,618 | -10.7% |
| Total equity and liabilities | 10/49 | €10,730,978 | €9,818,648 | -€912,330 | -8.5% |
| Equity | 10/15 | €2,101,310 | €3,859,594 | +€1.8m | +83.7% |
| Contributions | 10/11 | €1,182,320 | €1,543,361 | +€361,041 | +30.5% |
| Capital | 10 | €1,125,220 | - | -€1.1m | |
| Issued capital | 100 | €1,125,220 | - | -€1.1m | |
| Contributions outside capital | 11 | €57,100 | - | -€57,100 | |
| Share premium | 1100/10 | €57,100 | - | -€57,100 | |
| Reserves | 13 | €1,397 | €1,397 | +€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,331 | - | -€1,331 | |
| Legal reserve | 130 | €1,331 | - | -€1,331 | |
| Tax-exempt reserves | 132 | €66 | €66 | +€0 | +0.1% |
| Distributable reserves | 133 | - | €1,331 | +€1,331 | |
| Profit (loss) carried forward | 14 | -€1,061,613 | €942,982 | +€2.0m | |
| Investment grants | 15 | €1,979,207 | €1,371,854 | -€607,353 | -30.7% |
| Amounts payable | 17/49 | €8,629,668 | €5,959,054 | -€2.7m | -30.9% |
| Amounts payable after more than one year | 17 | €500,000 | €0 | -€500,000 | -100% |
| Financial debts | 170/4 | €500,000 | €0 | -€500,000 | -100% |
| Subordinated loans | 170 | €0 | - | = | |
| Credit institutions | 173 | €500,000 | €0 | -€500,000 | -100% |
| Amounts payable within one year | 42/48 | €3,776,643 | €2,530,926 | -€1.2m | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €1,999,966 | €0 | -€2.0m | -100% |
| Financial debts | 43 | €451,824 | €0 | -€451,824 | -100% |
| Credit institutions | 430/8 | €451,824 | €0 | -€451,824 | -100% |
| Trade debts | 44 | €831,710 | €936,955 | +€105,245 | +12.7% |
| Suppliers | 440/4 | €831,710 | €936,955 | +€105,245 | +12.7% |
| Taxes, remuneration and social security | 45 | €493,144 | €732,139 | +€238,995 | +48.5% |
| Remuneration and social security | 454/9 | €493,144 | €732,139 | +€238,995 | +48.5% |
| Other amounts payable | 47/48 | - | €861,833 | +€861,833 | |
| Accrued charges and deferred income | 492/3 | €4,353,024 | €3,428,128 | -€924,896 | -21.2% |
| Operating income | 70/76A | €10,838,105 | €10,451,733 | -€386,372 | -3.6% |
| Turnover | 70 | €6,726,704 | €7,669,574 | +€942,870 | +14.0% |
| Own construction capitalised | 72 | €3,455,244 | €2,292,178 | -€1.2m | -33.7% |
| Other operating income | 74 | €647,127 | €489,982 | -€157,145 | -24.3% |
| Non-recurring operating income | 76A | €9,029 | €0 | -€9,029 | -100% |
| Operating charges | 60/66A | €10,901,465 | €8,731,807 | -€2.2m | -19.9% |
| Services and other goods | 61 | €3,527,705 | €3,194,524 | -€333,181 | -9.4% |
| Remuneration, social security and pensions | 62 | €3,596,948 | €2,835,260 | -€761,688 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,620,858 | €2,610,935 | -€1.0m | -27.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €98,854 | €64,586 | -€34,268 | -34.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,280 | €0 | +€20,280 | |
| Other operating charges | 640/8 | €10,242 | €5,156 | -€5,086 | -49.7% |
| Non-recurring operating charges | 66A | €67,137 | €21,345 | -€45,792 | -68.2% |
| Operating profit (loss) | 9901 | -€63,360 | €1,719,926 | +€1.8m | |
| Financial income | 75/76B | €700,595 | €469,373 | -€231,222 | -33.0% |
| Recurring financial income | 75 | €700,595 | €469,373 | -€231,222 | -33.0% |
| Other financial income | 752/9 | €700,595 | €469,373 | -€231,222 | -33.0% |
| Financial charges | 65/66B | €302,304 | €210,666 | -€91,638 | -30.3% |
| Recurring financial charges | 65 | €302,304 | €210,666 | -€91,638 | -30.3% |
| Debt charges | 650 | €197,034 | €87,959 | -€109,075 | -55.4% |
| Other financial charges | 652/9 | €105,269 | €122,707 | +€17,438 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €334,931 | €1,978,633 | +€1.6m | +491% |
| Transfer from deferred taxes | 780 | €25,277 | €0 | -€25,277 | -100% |
| Income taxes | 67/77 | -€233,399 | -€25,962 | +€207,437 | +88.9% |
| Taxes | 670/3 | €19,881 | €103,832 | +€83,951 | +422% |
| Tax adjustments and reversals of tax provisions | 77 | €253,280 | €129,794 | -€123,486 | -48.8% |
| Profit (loss) for the period | 9904 | €593,607 | €2,004,595 | +€1.4m | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €593,607 | €2,004,595 | +€1.4m | +238% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 30 September 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.