Theoval: 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.
Theoval
Largest movements
- Tangible fixed assets +€35,391
new in 2025: €35,391
of which Furniture and vehicles: +€34,867
- Cash +€35,382
up €35,382 (+118.5%), from €29,866 to €65,248
mainly Net result for the year (+€43,997) and Tax, wage and social debts (+€14,043)
- Receivables within one year +€2,581
new in 2025: €2,581
of which Other amounts receivable: +€1,891
- Deferred charges and accrued income +€1,651
up €1,651 (+404.8%), from €408 to €2,059
- Profit (loss) carried forward +€41,247
up €41,247 (+339.1%), from €12,163 to €53,410
- Tax, wage and social debts +€14,043
up €14,043 (+132.6%), from €10,593 to €24,637
- Debts after one year +€13,992
up €13,992 (+940.2%), from €1,488 to €15,480
of which Financial debts: +€15,480
- Current portion of long-term debt +€4,674
new in 2025: €4,674
- Trade debts +€2,124
up €2,124 (+7162.5%), from €30 to €2,154
- Gross operating margin +€42,488
up €42,488 (+193.4%), from €21,970 to €64,458
- Taxes +€7,152
up €7,152 (+161.1%), from €4,440 to €11,592
- Depreciation +€6,874
up €6,874 (+646.7%), from €1,063 to €7,937
- Financial charges +€988
up €988 (+5208.4%), from €19 to €1,006
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.
Cash bridge derived
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 | €30,274 | €105,280 | +€75,006 | +247.8% |
| Fixed assets | 21/28 | - | €35,391 | +€35,391 | |
| Tangible fixed assets | 22/27 | - | €35,391 | +€35,391 | |
| Plant, machinery and equipment | 23 | - | €524 | +€524 | |
| Furniture and vehicles | 24 | - | €34,867 | +€34,867 | |
| Current assets | 29/58 | €30,274 | €69,888 | +€39,614 | +130.9% |
| Amounts receivable within one year | 40/41 | - | €2,581 | +€2,581 | |
| Trade receivables | 40 | - | €690 | +€690 | |
| Other amounts receivable | 41 | - | €1,891 | +€1,891 | |
| Cash at bank and in hand | 54/58 | €29,866 | €65,248 | +€35,382 | +118.5% |
| Deferred charges and accrued income | 490/1 | €408 | €2,059 | +€1,651 | +404.8% |
| Total equity and liabilities | 10/49 | €30,274 | €105,280 | +€75,006 | +247.8% |
| Equity | 10/15 | €15,163 | €56,410 | +€41,247 | +272.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,163 | €53,410 | +€41,247 | +339.1% |
| Amounts payable | 17/49 | €15,111 | €48,870 | +€33,759 | +223.4% |
| Amounts payable after more than one year | 17 | €1,488 | €15,480 | +€13,992 | +940.2% |
| Financial debts | 170/4 | - | €15,480 | +€15,480 | |
| Other amounts payable | 178/9 | €1,488 | - | -€1,488 | |
| Amounts payable within one year | 42/48 | €13,623 | €33,390 | +€19,767 | +145.1% |
| Current portion of amounts payable after more than one year | 42 | - | €4,674 | +€4,674 | |
| Trade debts | 44 | €30 | €2,154 | +€2,124 | +7162.5% |
| Suppliers | 440/4 | €30 | €2,154 | +€2,124 | +7162.5% |
| Taxes, remuneration and social security | 45 | €10,593 | €24,637 | +€14,043 | +132.6% |
| Taxes | 450/3 | €10,593 | €24,637 | +€14,043 | +132.6% |
| Other amounts payable | 47/48 | €3,000 | €1,925 | -€1,075 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,063 | €7,937 | +€6,874 | +646.7% |
| Other operating charges | 640/8 | - | €175 | +€175 | |
| Gross operating margin | 9900 | €21,970 | €64,458 | +€42,488 | +193.4% |
| Operating profit (loss) | 9901 | €20,907 | €56,346 | +€35,439 | +169.5% |
| Financial income | 75/76B | - | €250 | +€250 | |
| Recurring financial income | 75 | - | €250 | +€250 | |
| Financial charges | 65/66B | €19 | €1,006 | +€988 | +5208.4% |
| Recurring financial charges | 65 | €19 | €1,006 | +€988 | +5208.4% |
| Profit (loss) for the period before taxes | 9903 | €20,888 | €55,589 | +€34,701 | +166.1% |
| Income taxes | 67/77 | €4,440 | €11,592 | +€7,152 | +161.1% |
| Profit (loss) for the period | 9904 | €16,448 | €43,997 | +€27,549 | +167.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,448 | €43,997 | +€27,549 | +167.5% |
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 12 October 2026 via checked.be.