THEOGEKA: 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.
THEOGEKA
Largest movements
- Current investments -€118,421
down €118,421 (-100%), from €118,421 to €0
- Cash +€15,909
up €15,909 (+515%), from €3,091 to €19,000
mainly Net result for the year (+€144,258) and Current investments (+€118,421)
- Reserves -€139,264
down €139,264 (-100%), from €139,264 to €0
- Other debts +€35,497
new in 2025: €35,497
- Tax, wage and social debts +€1,544
up €1,544 (+32.6%), from €4,742 to €6,286
- Gross operating margin +€6,381
up €6,381 (+3.8%), from €166,599 to €172,980
- Taxes +€1,878
up €1,878 (+5.1%), from €36,890 to €38,768
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 | €144,625 | €43,057 | -€101,568 | -70.2% |
| Fixed assets | 21/28 | €1,461 | €2,375 | +€914 | +62.6% |
| Tangible fixed assets | 22/27 | €1,461 | €2,375 | +€914 | +62.6% |
| Furniture and vehicles | 24 | €1,461 | €2,375 | +€914 | +62.6% |
| Current assets | 29/58 | €143,164 | €40,682 | -€102,482 | -71.6% |
| Amounts receivable within one year | 40/41 | €20,350 | €20,629 | +€279 | +1.4% |
| Trade receivables | 40 | €20,350 | €20,629 | +€279 | +1.4% |
| Current investments | 50/53 | €118,421 | €0 | -€118,421 | -100% |
| Cash at bank and in hand | 54/58 | €3,091 | €19,000 | +€15,909 | +515% |
| Deferred charges and accrued income | 490/1 | €1,302 | €1,053 | -€249 | -19.1% |
| Total equity and liabilities | 10/49 | €144,625 | €43,057 | -€101,568 | -70.2% |
| Equity | 10/15 | €139,364 | €100 | -€139,264 | -99.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €139,264 | €0 | -€139,264 | -100% |
| Distributable reserves | 133 | €139,264 | €0 | -€139,264 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,261 | €42,957 | +€37,696 | +716% |
| Amounts payable within one year | 42/48 | €4,772 | €42,452 | +€37,680 | +790% |
| Trade debts | 44 | €30 | €669 | +€639 | +2,130% |
| Suppliers | 440/4 | €30 | €669 | +€639 | +2,130% |
| Taxes, remuneration and social security | 45 | €4,742 | €6,286 | +€1,544 | +32.6% |
| Taxes | 450/3 | €4,742 | €6,286 | +€1,544 | +32.6% |
| Other amounts payable | 47/48 | - | €35,497 | +€35,497 | |
| Accrued charges and deferred income | 492/3 | €489 | €505 | +€16 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €830 | €685 | -€145 | -17.5% |
| Other operating charges | 640/8 | €580 | €595 | +€14 | +2.5% |
| Gross operating margin | 9900 | €166,599 | €172,980 | +€6,381 | +3.8% |
| Operating profit (loss) | 9901 | €165,189 | €171,701 | +€6,511 | +3.9% |
| Financial income | 75/76B | €11,035 | €11,397 | +€362 | +3.3% |
| Recurring financial income | 75 | €11,035 | €11,397 | +€362 | +3.3% |
| Financial charges | 65/66B | €70 | €72 | +€1 | +1.5% |
| Recurring financial charges | 65 | €70 | €72 | +€1 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €176,154 | €183,026 | +€6,872 | +3.9% |
| Income taxes | 67/77 | €36,890 | €38,768 | +€1,878 | +5.1% |
| Profit (loss) for the period | 9904 | €139,264 | €144,258 | +€4,994 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €139,264 | €144,258 | +€4,994 | +3.6% |
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 22 October 2026 via checked.be.