Théonie: 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.
Théonie
Largest movements
- Receivables within one year -€1.7m
down €1.7m (-64.3%), from €2.7m to €951,915
of which Other amounts receivable: -€1.8m
- Cash +€1.2m
up €1.2m (+181%), from €636,330 to €1.8m
mainly Receivables within one year (+€1.7m) and Net result for the year (+€508,636)
- Financial fixed assets +€717,671
up €717,671 (+40.3%), from €1.8m to €2.5m
- Tangible fixed assets +€374,324
up €374,324 (+2.1%), from €17.8m to €18.2m
of which Land and buildings: +€16.4m
- Profit (loss) carried forward +€508,636
up €508,636 (+79.1%), from €643,222 to €1.2m
- Gross operating margin +€449,868
up €449,868 (+1,740%), from €25,854 to €475,723
- Depreciation +€335,393
up €335,393 (+959%), from €34,983 to €370,376
- Financial income +€86,605
up €86,605 (+24.7%), from €350,788 to €437,393
- Financial charges -€7,382
down €7,382 (-25.4%), from €29,092 to €21,710
- Taxes -€4,761
no longer reported in 2025 (was €4,761)
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 | €23,040,149 | €23,603,472 | +€563,323 | +2.4% |
| Fixed assets | 21/28 | €19,596,692 | €20,688,686 | +€1.1m | +5.6% |
| Tangible fixed assets | 22/27 | €17,814,162 | €18,188,486 | +€374,324 | +2.1% |
| Land and buildings | 22 | €1,818,583 | €18,188,486 | +€16.4m | +900% |
| Assets under construction and advance payments | 27 | €15,995,579 | - | -€16.0m | |
| Financial fixed assets | 28 | €1,782,529 | €2,500,200 | +€717,671 | +40.3% |
| Current assets | 29/58 | €3,443,457 | €2,914,785 | -€528,671 | -15.4% |
| Amounts receivable within one year | 40/41 | €2,663,787 | €951,915 | -€1.7m | -64.3% |
| Trade receivables | 40 | - | €79,860 | +€79,860 | |
| Other amounts receivable | 41 | €2,663,787 | €872,055 | -€1.8m | -67.3% |
| Cash at bank and in hand | 54/58 | €636,330 | €1,789,275 | +€1.2m | +181% |
| Deferred charges and accrued income | 490/1 | €143,340 | €173,594 | +€30,254 | +21.1% |
| Total equity and liabilities | 10/49 | €23,040,149 | €23,603,472 | +€563,323 | +2.4% |
| Equity | 10/15 | €22,086,269 | €22,594,905 | +€508,636 | +2.3% |
| Contributions | 10/11 | €21,443,047 | €21,443,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | €643,222 | €1,151,858 | +€508,636 | +79.1% |
| Amounts payable | 17/49 | €953,880 | €1,008,567 | +€54,687 | +5.7% |
| Amounts payable within one year | 42/48 | €928,783 | €990,559 | +€61,776 | +6.7% |
| Trade debts | 44 | €78,783 | €10,559 | -€68,224 | -86.6% |
| Suppliers | 440/4 | €78,783 | €10,559 | -€68,224 | -86.6% |
| Other amounts payable | 47/48 | €850,000 | €980,000 | +€130,000 | +15.3% |
| Accrued charges and deferred income | 492/3 | €25,097 | €18,007 | -€7,090 | -28.2% |
| Non-recurring operating income | 76A | - | €415,196 | +€415,196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,983 | €370,376 | +€335,393 | +959% |
| Other operating charges | 640/8 | €16,390 | €12,394 | -€3,996 | -24.4% |
| Gross operating margin | 9900 | €25,854 | €475,723 | +€449,868 | +1,740% |
| Operating profit (loss) | 9901 | -€25,518 | €92,953 | +€118,472 | |
| Financial income | 75/76B | €350,788 | €437,393 | +€86,605 | +24.7% |
| Recurring financial income | 75 | €350,788 | €437,393 | +€86,605 | +24.7% |
| Financial charges | 65/66B | €29,092 | €21,710 | -€7,382 | -25.4% |
| Recurring financial charges | 65 | €29,092 | €21,710 | -€7,382 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €296,177 | €508,636 | +€212,459 | +71.7% |
| Income taxes | 67/77 | €4,761 | - | -€4,761 | |
| Profit (loss) for the period | 9904 | €291,416 | €508,636 | +€217,220 | +74.5% |
| Profit (loss) for the period to be appropriated | 9905 | €291,416 | €508,636 | +€217,220 | +74.5% |
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 25 October 2026 via checked.be.