THÉRA: what changed
Two fiscal 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.
THÉRA
Largest movements
- Cash +€15,964
up €15,964 (+110.5%), from €14,447 to €30,411
mainly Net result for the year (+€19,358) and Depreciation (+€18,000)
- Intangible fixed assets -€12,000
down €12,000 (-27.2%), from €44,088 to €32,088
- Tangible fixed assets -€6,000
down €6,000 (-59.7%), from €10,045 to €4,045
- Deferred charges and accrued income +€762
up €762 (+233.3%), from €327 to €1,089
- Reserves +€19,358
up €19,358 (+189.9%), from €10,191 to €29,550
- Other debts -€19,333
down €19,333 (-52.0%), from €37,181 to €17,848
- Trade debts -€4,827
down €4,827 (-50.9%), from €9,476 to €4,649
- Tax, wage and social debts +€3,528
up €3,528 (+50.0%), from €7,057 to €10,585
- Gross operating margin +€17,830
up €17,830 (+57.7%), from €30,924 to €48,754
- Taxes +€6,043
up €6,043 (+133.0%), from €4,545 to €10,588
- Depreciation -€782
down €782 (-4.2%), from €18,782 to €18,000
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 | €68,906 | €67,633 | -€1,273 | -1.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €54,132 | €36,132 | -€18,000 | -33.3% |
| Intangible fixed assets | 21 | €44,088 | €32,088 | -€12,000 | -27.2% |
| Tangible fixed assets | 22/27 | €10,045 | €4,045 | -€6,000 | -59.7% |
| Furniture and vehicles | 24 | €10,045 | €4,045 | -€6,000 | -59.7% |
| Current assets | 29/58 | €14,774 | €31,500 | +€16,727 | +113.2% |
| Cash at bank and in hand | 54/58 | €14,447 | €30,411 | +€15,964 | +110.5% |
| Deferred charges and accrued income | 490/1 | €327 | €1,089 | +€762 | +233.3% |
| Total equity and liabilities | 10/49 | €68,906 | €67,633 | -€1,273 | -1.8% |
| Equity | 10/15 | €15,191 | €34,550 | +€19,358 | +127.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,191 | €29,550 | +€19,358 | +189.9% |
| Distributable reserves | 133 | €10,191 | €29,550 | +€19,358 | +189.9% |
| Amounts payable | 17/49 | €53,714 | €33,083 | -€20,632 | -38.4% |
| Amounts payable within one year | 42/48 | €53,714 | €33,083 | -€20,632 | -38.4% |
| Trade debts | 44 | €9,476 | €4,649 | -€4,827 | -50.9% |
| Suppliers | 440/4 | €9,476 | €4,649 | -€4,827 | -50.9% |
| Taxes, remuneration and social security | 45 | €7,057 | €10,585 | +€3,528 | +50.0% |
| Taxes | 450/3 | €7,057 | €10,585 | +€3,528 | +50.0% |
| Other amounts payable | 47/48 | €37,181 | €17,848 | -€19,333 | -52.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,782 | €18,000 | -€782 | -4.2% |
| Other operating charges | 640/8 | €1,072 | €697 | -€375 | -35.0% |
| Gross operating margin | 9900 | €30,924 | €48,754 | +€17,830 | +57.7% |
| Operating profit (loss) | 9901 | €11,070 | €30,057 | +€18,987 | +171.5% |
| Financial income | 75/76B | - | €14 | +€14 | |
| Recurring financial income | 75 | - | €14 | +€14 | |
| Financial charges | 65/66B | €31 | €125 | +€93 | +300.0% |
| Recurring financial charges | 65 | €31 | €125 | +€93 | +300.0% |
| Profit (loss) for the period before taxes | 9903 | €11,039 | €29,946 | +€18,907 | +171.3% |
| Income taxes | 67/77 | €4,545 | €10,588 | +€6,043 | +133.0% |
| Profit (loss) for the period | 9904 | €6,494 | €19,358 | +€12,865 | +198.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,494 | €19,358 | +€12,865 | +198.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.