THEODELA MANAGEMENT: what changed
What changed
THEODELA MANAGEMENT
NACE 50.400, Inland freight water transport
filed annual accounts (NBB)
Net result for the year
€26,983
2024 · €14,465+€12,518
Equity
€186,617
2024 · €189,634-€3,017
Cash
€148,384
2024 · €113,686+€34,698
Balance sheet total
€554,347
2024 · €562,522-€8,174
Largest movements
Assets
- Cash +€34,698
up €34,698 (+30.5%), from €113,686 to €148,384
mainly Current investments (+€30,000) and Net result for the year (+€26,983)
- Current investments -€30,000
no longer reported in 2025 (was €30,000)
- Tangible fixed assets -€11,949
down €11,949 (-37.3%), from €32,058 to €20,110
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income +€10,501
new in 2025: €10,501
- Gross operating margin +€3,727
up €3,727 (+7.9%), from €47,445 to €51,172
- Taxes +€1,947
up €1,947 (+25.1%), from €7,743 to €9,690
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.
Result 2024
€14,465
Gross operating margin
+€3,727
Other operating charges
+€50
Financial income
+€10,501
Financial charges
+€188
Taxes
-€1,947
Result 2025
€26,983
raises the resultlowers the result
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.
From operations
+€34,698
Investment
+€30,000
Financing
-€30,000
Cash 2024
€113,686
From operations (derived)
+€34,698
Net result for the year
+€26,983
Depreciation
+€11,949
Receivables within one year
+€1,096
Deferred charges and accrued income
-€173
Trade debts
-€4,461
Tax, wage and social debts
+€276
Other debts
-€632
Accrued charges and deferred income
-€340
Investment (derived)
+€30,000
Current investments
+€30,000
Financing
-€30,000
Contributions, distributions and other
-€30,000
Cash 2025
€148,384
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €562,522 | €554,347 | -€8,174 | -1.5% |
| Fixed assets | 21/28 | €394,769 | €382,821 | -€11,949 | -3.0% |
| Tangible fixed assets | 22/27 | €32,058 | €20,110 | -€11,949 | -37.3% |
| Furniture and vehicles | 24 | €32,058 | €20,110 | -€11,949 | -37.3% |
| Financial fixed assets | 28 | €362,711 | €362,711 | = | 0.0% |
| Current assets | 29/58 | €167,752 | €171,527 | +€3,775 | +2.3% |
| Amounts receivable within one year | 40/41 | €22,118 | €21,021 | -€1,096 | -5.0% |
| Trade receivables | 40 | €766 | - | -€766 | |
| Other amounts receivable | 41 | €21,351 | €21,021 | -€330 | -1.5% |
| Current investments | 50/53 | €30,000 | - | -€30,000 | |
| Cash at bank and in hand | 54/58 | €113,686 | €148,384 | +€34,698 | +30.5% |
| Deferred charges and accrued income | 490/1 | €1,948 | €2,121 | +€173 | +8.9% |
| Total equity and liabilities | 10/49 | €562,522 | €554,347 | -€8,174 | -1.5% |
| Equity | 10/15 | €189,634 | €186,617 | -€3,017 | -1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €183,337 | €180,337 | -€3,000 | -1.6% |
| Non-distributable reserves | 130/1 | €31,860 | €1,860 | -€30,000 | -94.2% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Own shares acquired | 1312 | €30,000 | - | -€30,000 | |
| Distributable reserves | 133 | €151,477 | €178,477 | +€27,000 | +17.8% |
| Profit (loss) carried forward | 14 | €97 | €80 | -€17 | -17.4% |
| Amounts payable | 17/49 | €372,888 | €367,730 | -€5,157 | -1.4% |
| Amounts payable within one year | 42/48 | €361,106 | €356,290 | -€4,817 | -1.3% |
| Trade debts | 44 | €5,402 | €942 | -€4,461 | -82.6% |
| Suppliers | 440/4 | €5,402 | €942 | -€4,461 | -82.6% |
| Taxes, remuneration and social security | 45 | €3,064 | €3,340 | +€276 | +9.0% |
| Taxes | 450/3 | €3,064 | €3,340 | +€276 | +9.0% |
| Other amounts payable | 47/48 | €352,640 | €352,008 | -€632 | -0.2% |
| Accrued charges and deferred income | 492/3 | €11,781 | €11,441 | -€340 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,949 | €11,949 | = | 0.0% |
| Other operating charges | 640/8 | €1,457 | €1,408 | -€50 | -3.4% |
| Gross operating margin | 9900 | €47,445 | €51,172 | +€3,727 | +7.9% |
| Operating profit (loss) | 9901 | €34,040 | €37,816 | +€3,776 | +11.1% |
| Financial income | 75/76B | - | €10,501 | +€10,501 | |
| Recurring financial income | 75 | - | €10,501 | +€10,501 | |
| Financial charges | 65/66B | €11,832 | €11,644 | -€188 | -1.6% |
| Recurring financial charges | 65 | €11,832 | €11,644 | -€188 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €22,208 | €36,673 | +€14,465 | +65.1% |
| Income taxes | 67/77 | €7,743 | €9,690 | +€1,947 | +25.1% |
| Profit (loss) for the period | 9904 | €14,465 | €26,983 | +€12,518 | +86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,465 | €26,983 | +€12,518 | +86.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.