THEOFANIS: 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.
THEOFANIS
Largest movements
- Tangible fixed assets +€40,381
up €40,381 (+103%), from €39,362 to €79,743
of which Furniture and vehicles: +€39,650
- Profit (loss) carried forward +€49,508
up €49,508 (+181%), from €27,368 to €76,876
- Debts after one year -€31,774
down €31,774 (-14.1%), from €225,835 to €194,061
- Other debts +€12,144
up €12,144 (+19.0%), from €63,797 to €75,941
- Tax, wage and social debts +€6,063
up €6,063 (+25.5%), from €23,789 to €29,852
of which Taxes: +€3,398
- Depreciation -€15,728
down €15,728 (-54.7%), from €28,775 to €13,047
- Gross operating margin +€11,649
up €11,649 (+8.2%), from €141,918 to €153,567
- Taxes +€7,686
up €7,686 (+61.5%), from €12,495 to €20,181
- Staff costs +€3,532
up €3,532 (+5.9%), from €59,581 to €63,113
- Other operating charges -€1,707
down €1,707 (-57.1%), from €2,993 to €1,285
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 | €475,350 | €515,786 | +€40,436 | +8.5% |
| Fixed assets | 21/28 | €443,231 | €480,612 | +€37,381 | +8.4% |
| Intangible fixed assets | 21 | €20,244 | €17,244 | -€3,000 | -14.8% |
| Tangible fixed assets | 22/27 | €39,362 | €79,743 | +€40,381 | +103% |
| Plant, machinery and equipment | 23 | €503 | €1,524 | +€1,021 | +203% |
| Furniture and vehicles | 24 | €38,101 | €77,751 | +€39,650 | +104% |
| Other tangible fixed assets | 26 | €758 | €468 | -€290 | -38.3% |
| Financial fixed assets | 28 | €383,625 | €383,625 | = | 0.0% |
| Current assets | 29/58 | €32,119 | €35,174 | +€3,055 | +9.5% |
| Stocks and contracts in progress | 3 | €4,769 | €3,639 | -€1,130 | -23.7% |
| Stocks | 30/36 | €4,769 | €3,639 | -€1,130 | -23.7% |
| Amounts receivable within one year | 40/41 | €5,005 | €8,664 | +€3,660 | +73.1% |
| Trade receivables | 40 | €4,201 | €8,664 | +€4,464 | +106% |
| Other amounts receivable | 41 | €804 | - | -€804 | |
| Cash at bank and in hand | 54/58 | €19,633 | €21,650 | +€2,017 | +10.3% |
| Deferred charges and accrued income | 490/1 | €2,712 | €1,220 | -€1,492 | -55.0% |
| Total equity and liabilities | 10/49 | €475,350 | €515,786 | +€40,436 | +8.5% |
| Equity | 10/15 | €109,817 | €159,325 | +€49,508 | +45.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,249 | €76,249 | = | 0.0% |
| Distributable reserves | 133 | €76,249 | €76,249 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,368 | €76,876 | +€49,508 | +181% |
| Amounts payable | 17/49 | €365,533 | €356,460 | -€9,072 | -2.5% |
| Amounts payable after more than one year | 17 | €225,835 | €194,061 | -€31,774 | -14.1% |
| Financial debts | 170/4 | €225,835 | €194,061 | -€31,774 | -14.1% |
| Amounts payable within one year | 42/48 | €139,698 | €162,399 | +€22,701 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €41,696 | €45,399 | +€3,703 | +8.9% |
| Trade debts | 44 | €10,416 | €11,207 | +€791 | +7.6% |
| Suppliers | 440/4 | €10,416 | €11,207 | +€791 | +7.6% |
| Taxes, remuneration and social security | 45 | €23,789 | €29,852 | +€6,063 | +25.5% |
| Taxes | 450/3 | €11,059 | €14,457 | +€3,398 | +30.7% |
| Remuneration and social security | 454/9 | €12,730 | €15,395 | +€2,665 | +20.9% |
| Other amounts payable | 47/48 | €63,797 | €75,941 | +€12,144 | +19.0% |
| Remuneration, social security and pensions | 62 | €59,581 | €63,113 | +€3,532 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,775 | €13,047 | -€15,728 | -54.7% |
| Other operating charges | 640/8 | €2,993 | €1,285 | -€1,707 | -57.1% |
| Gross operating margin | 9900 | €141,918 | €153,567 | +€11,649 | +8.2% |
| Operating profit (loss) | 9901 | €50,569 | €76,122 | +€25,553 | +50.5% |
| Financial income | 75/76B | €1 | €1 | -€0 | -9.5% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -9.5% |
| Financial charges | 65/66B | €5,717 | €6,435 | +€718 | +12.6% |
| Recurring financial charges | 65 | €5,717 | €6,435 | +€718 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €44,853 | €69,689 | +€24,835 | +55.4% |
| Income taxes | 67/77 | €12,495 | €20,181 | +€7,686 | +61.5% |
| Profit (loss) for the period | 9904 | €32,359 | €49,508 | +€17,149 | +53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €32,359 | €49,508 | +€17,149 | +53.0% |
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 16 October 2026 via checked.be.