THERA100T: 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.
THERA100T
Largest movements
- Tangible fixed assets -€29,770
down €29,770 (-51.1%), from €58,296 to €28,526
of which Land and buildings: -€15,611
- Receivables within one year -€10,628
down €10,628 (-80.4%), from €13,212 to €2,584
of which Other amounts receivable: -€11,246
- Cash +€5,404
up €5,404 (+45.6%), from €11,843 to €17,247
- Deferred charges and accrued income +€4,825
up €4,825 (+200%), from €2,417 to €7,242
- Financial fixed assets +€3,400
up €3,400 (+278%), from €1,225 to €4,625
- Debts after one year -€37,599
down €37,599 (-85.7%), from €43,886 to €6,287
- Other debts +€19,402
up €19,402 (+256%), from €7,577 to €26,979
- Current portion of long-term debt -€7,458
down €7,458 (-44.1%), from €16,896 to €9,438
- Trade debts +€6,271
up €6,271 (+1,465%), from €428 to €6,699
- Profit (loss) carried forward -€6,023
down €6,023 (-87.4%), from -€6,890 to -€12,913
- Gross operating margin +€2,978
up €2,978 (+12.8%), from €23,208 to €26,186
- Taxes +€1,351
up €1,351 (+37.8%), from €3,575 to €4,926
- Depreciation +€650
up €650 (+4.9%), from €13,286 to €13,936
- Financial charges -€520
down €520 (-27.2%), from €1,909 to €1,389
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,993 | €60,224 | -€26,769 | -30.8% |
| Fixed assets | 21/28 | €59,521 | €33,151 | -€26,370 | -44.3% |
| Tangible fixed assets | 22/27 | €58,296 | €28,526 | -€29,770 | -51.1% |
| Land and buildings | 22 | €15,611 | - | -€15,611 | |
| Plant, machinery and equipment | 23 | €7,179 | - | -€7,179 | |
| Furniture and vehicles | 24 | €2,518 | €15,585 | +€13,067 | +519% |
| Leasing and similar rights | 25 | €23,522 | €12,863 | -€10,659 | -45.3% |
| Other tangible fixed assets | 26 | €9,466 | €78 | -€9,388 | -99.2% |
| Financial fixed assets | 28 | €1,225 | €4,625 | +€3,400 | +278% |
| Current assets | 29/58 | €27,472 | €27,073 | -€399 | -1.5% |
| Amounts receivable within one year | 40/41 | €13,212 | €2,584 | -€10,628 | -80.4% |
| Trade receivables | 40 | €1,892 | €2,510 | +€618 | +32.7% |
| Other amounts receivable | 41 | €11,320 | €74 | -€11,246 | -99.3% |
| Cash at bank and in hand | 54/58 | €11,843 | €17,247 | +€5,404 | +45.6% |
| Deferred charges and accrued income | 490/1 | €2,417 | €7,242 | +€4,825 | +200% |
| Total equity and liabilities | 10/49 | €86,993 | €60,224 | -€26,769 | -30.8% |
| Equity | 10/15 | €13,570 | €7,547 | -€6,023 | -44.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,890 | -€12,913 | -€6,023 | -87.4% |
| Amounts payable | 17/49 | €73,423 | €52,677 | -€20,746 | -28.3% |
| Amounts payable after more than one year | 17 | €43,886 | €6,287 | -€37,599 | -85.7% |
| Financial debts | 170/4 | €43,886 | €6,287 | -€37,599 | -85.7% |
| Amounts payable within one year | 42/48 | €29,537 | €46,390 | +€16,853 | +57.1% |
| Current portion of amounts payable after more than one year | 42 | €16,896 | €9,438 | -€7,458 | -44.1% |
| Trade debts | 44 | €428 | €6,699 | +€6,271 | +1,465% |
| Suppliers | 440/4 | €428 | €6,699 | +€6,271 | +1,465% |
| Advances received on contracts in progress | 46 | €960 | - | -€960 | |
| Taxes, remuneration and social security | 45 | €3,676 | €3,274 | -€402 | -10.9% |
| Taxes | 450/3 | €1,076 | €449 | -€627 | -58.3% |
| Remuneration and social security | 454/9 | €2,600 | €2,825 | +€225 | +8.7% |
| Other amounts payable | 47/48 | €7,577 | €26,979 | +€19,402 | +256% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,286 | €13,936 | +€650 | +4.9% |
| Other operating charges | 640/8 | €3,533 | €3,645 | +€112 | +3.2% |
| Gross operating margin | 9900 | €23,208 | €26,186 | +€2,978 | +12.8% |
| Operating profit (loss) | 9901 | €6,389 | €8,605 | +€2,216 | +34.7% |
| Financial income | 75/76B | €4 | €3 | -€1 | -25.0% |
| Recurring financial income | 75 | €4 | €3 | -€1 | -25.0% |
| Financial charges | 65/66B | €1,909 | €1,389 | -€520 | -27.2% |
| Recurring financial charges | 65 | €1,909 | €1,389 | -€520 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €4,484 | €7,219 | +€2,735 | +61.0% |
| Income taxes | 67/77 | €3,575 | €4,926 | +€1,351 | +37.8% |
| Profit (loss) for the period | 9904 | €909 | €2,293 | +€1,384 | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €909 | €2,293 | +€1,384 | +152% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.