THERASCIENCE BELGIUM: 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.
THERASCIENCE BELGIUM
Largest movements
- Cash -€925,810
down €925,810 (-39.8%), from €2.3m to €1.4m
mainly Contributions, distributions and other (-€2.4m) and Investment in fixed assets (net) (-€43,298)
- Reserves -€1.2m
down €1.2m (-66.1%), from €1.9m to €636,200
of which Distributable reserves: -€1.2m
- Tax, wage and social debts +€239,821
up €239,821 (+96.0%), from €249,736 to €489,557
of which Taxes: +€216,306
- Trade debts +€117,680
up €117,680 (+10.0%), from €1.2m to €1.3m
- Gross operating margin +€916,574
up €916,574 (+40.9%), from €2.2m to €3.2m
- Taxes +€209,830
up €209,830 (+101%), from €207,096 to €416,926
- Staff costs +€109,912
up €109,912 (+7.5%), from €1.5m to €1.6m
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 | €3,921,534 | €3,037,913 | -€883,621 | -22.5% |
| Fixed assets | 21/28 | €114,501 | €127,035 | +€12,534 | +10.9% |
| Tangible fixed assets | 22/27 | €111,122 | €123,656 | +€12,534 | +11.3% |
| Furniture and vehicles | 24 | €73,625 | €91,107 | +€17,482 | +23.7% |
| Other tangible fixed assets | 26 | €37,498 | €32,549 | -€4,948 | -13.2% |
| Financial fixed assets | 28 | €3,379 | €3,379 | = | 0.0% |
| Current assets | 29/58 | €3,807,033 | €2,910,878 | -€896,155 | -23.5% |
| Stocks and contracts in progress | 3 | €66,476 | €85,678 | +€19,202 | +28.9% |
| Stocks | 30/36 | €66,476 | €85,678 | +€19,202 | +28.9% |
| Amounts receivable within one year | 40/41 | €1,407,505 | €1,420,946 | +€13,442 | +1.0% |
| Trade receivables | 40 | €401,005 | €415,946 | +€14,942 | +3.7% |
| Other amounts receivable | 41 | €1,006,500 | €1,005,000 | -€1,500 | -0.1% |
| Cash at bank and in hand | 54/58 | €2,323,379 | €1,397,569 | -€925,810 | -39.8% |
| Deferred charges and accrued income | 490/1 | €9,674 | €6,685 | -€2,989 | -30.9% |
| Total equity and liabilities | 10/49 | €3,921,534 | €3,037,913 | -€883,621 | -22.5% |
| Equity | 10/15 | €1,941,197 | €700,075 | -€1.2m | -63.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,876,200 | €636,200 | -€1.2m | -66.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,870,000 | €630,000 | -€1.2m | -66.3% |
| Profit (loss) carried forward | 14 | €2,997 | €1,875 | -€1,122 | -37.4% |
| Amounts payable | 17/49 | €1,980,337 | €2,337,838 | +€357,501 | +18.1% |
| Amounts payable within one year | 42/48 | €1,980,337 | €2,337,838 | +€357,501 | +18.1% |
| Trade debts | 44 | €1,175,046 | €1,292,725 | +€117,680 | +10.0% |
| Suppliers | 440/4 | €1,175,046 | €1,292,725 | +€117,680 | +10.0% |
| Taxes, remuneration and social security | 45 | €249,736 | €489,557 | +€239,821 | +96.0% |
| Taxes | 450/3 | €44,101 | €260,408 | +€216,306 | +490% |
| Remuneration and social security | 454/9 | €205,635 | €229,149 | +€23,515 | +11.4% |
| Other amounts payable | 47/48 | €555,556 | €555,556 | = | 0.0% |
| Non-recurring operating income | 76A | - | €6,560 | +€6,560 | |
| Remuneration, social security and pensions | 62 | €1,474,735 | €1,584,647 | +€109,912 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,589 | €30,764 | +€5,175 | +20.2% |
| Other operating charges | 640/8 | €3,229 | €5,495 | +€2,265 | +70.1% |
| Non-recurring operating charges | 66A | - | €1,500 | +€1,500 | |
| Gross operating margin | 9900 | €2,241,416 | €3,157,990 | +€916,574 | +40.9% |
| Operating profit (loss) | 9901 | €737,862 | €1,535,584 | +€797,722 | +108% |
| Financial income | 75/76B | €37,883 | €37,853 | -€30 | -0.1% |
| Recurring financial income | 75 | €37,883 | €37,853 | -€30 | -0.1% |
| Financial charges | 65/66B | €41,434 | €42,077 | +€644 | +1.6% |
| Recurring financial charges | 65 | €41,434 | €42,077 | +€644 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €734,311 | €1,531,360 | +€797,049 | +109% |
| Income taxes | 67/77 | €207,096 | €416,926 | +€209,830 | +101% |
| Profit (loss) for the period | 9904 | €527,215 | €1,114,434 | +€587,219 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €527,215 | €1,114,434 | +€587,219 | +111% |
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 23 October 2026 via checked.be.