THERAYMI: 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.
THERAYMI
Largest movements
- Tangible fixed assets -€12,044
down €12,044 (-2.3%), from €527,943 to €515,898
of which Land and buildings: -€23,014
- Receivables within one year +€9,865
up €9,865 (+8.2%), from €120,528 to €130,393
of which Other amounts receivable: +€5,000
- Debts after one year -€27,689
down €27,689 (-5.6%), from €494,829 to €467,140
- Profit (loss) carried forward +€13,748
up €13,748 (+49.7%), from -€27,657 to -€13,909
- Accrued charges and deferred income -€12,178
no longer reported in 2025 (was €12,178)
- Trade debts +€10,916
up €10,916 (+179%), from €6,109 to €17,025
- Other debts +€10,000
up €10,000 (+16.7%), from €60,000 to €70,000
- Depreciation +€7,185
up €7,185 (+20.7%), from €34,726 to €41,911
- Gross operating margin +€4,436
up €4,436 (+6.9%), from €64,044 to €68,481
- Other operating charges -€4,283
down €4,283 (-50.6%), from €8,465 to €4,181
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 | €654,046 | €647,954 | -€6,092 | -0.9% |
| Fixed assets | 21/28 | €530,943 | €515,898 | -€15,044 | -2.8% |
| Tangible fixed assets | 22/27 | €527,943 | €515,898 | -€12,044 | -2.3% |
| Land and buildings | 22 | €391,471 | €368,457 | -€23,014 | -5.9% |
| Plant, machinery and equipment | 23 | €107,985 | €97,301 | -€10,684 | -9.9% |
| Leasing and similar rights | 25 | €28,486 | €50,140 | +€21,654 | +76.0% |
| Financial fixed assets | 28 | €3,000 | - | -€3,000 | |
| Current assets | 29/58 | €123,103 | €132,056 | +€8,952 | +7.3% |
| Amounts receivable within one year | 40/41 | €120,528 | €130,393 | +€9,865 | +8.2% |
| Trade receivables | 40 | €65,764 | €70,629 | +€4,865 | +7.4% |
| Other amounts receivable | 41 | €54,764 | €59,764 | +€5,000 | +9.1% |
| Cash at bank and in hand | 54/58 | €354 | €458 | +€104 | +29.5% |
| Deferred charges and accrued income | 490/1 | €2,222 | €1,205 | -€1,017 | -45.8% |
| Total equity and liabilities | 10/49 | €654,046 | €647,954 | -€6,092 | -0.9% |
| Equity | 10/15 | €13,247 | €26,995 | +€13,748 | +104% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €3,720 | €3,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,657 | -€13,909 | +€13,748 | +49.7% |
| Amounts payable | 17/49 | €640,799 | €620,959 | -€19,840 | -3.1% |
| Amounts payable after more than one year | 17 | €494,829 | €467,140 | -€27,689 | -5.6% |
| Financial debts | 170/4 | €494,829 | €467,140 | -€27,689 | -5.6% |
| Amounts payable within one year | 42/48 | €133,792 | €153,819 | +€20,026 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €44,510 | €48,909 | +€4,400 | +9.9% |
| Financial debts | 43 | €7,883 | €8,614 | +€731 | +9.3% |
| Credit institutions | 430/8 | €7,883 | €8,614 | +€731 | +9.3% |
| Trade debts | 44 | €6,109 | €17,025 | +€10,916 | +179% |
| Suppliers | 440/4 | €6,109 | €17,025 | +€10,916 | +179% |
| Advances received on contracts in progress | 46 | €5,500 | - | -€5,500 | |
| Taxes, remuneration and social security | 45 | €9,791 | €9,271 | -€520 | -5.3% |
| Taxes | 450/3 | €9,791 | €9,271 | -€520 | -5.3% |
| Other amounts payable | 47/48 | €60,000 | €70,000 | +€10,000 | +16.7% |
| Accrued charges and deferred income | 492/3 | €12,178 | - | -€12,178 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,726 | €41,911 | +€7,185 | +20.7% |
| Other operating charges | 640/8 | €8,465 | €4,181 | -€4,283 | -50.6% |
| Gross operating margin | 9900 | €64,044 | €68,481 | +€4,436 | +6.9% |
| Operating profit (loss) | 9901 | €20,854 | €22,389 | +€1,535 | +7.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €8,091 | €8,642 | +€550 | +6.8% |
| Recurring financial charges | 65 | €8,091 | €8,642 | +€550 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €12,763 | €13,748 | +€985 | +7.7% |
| Profit (loss) for the period | 9904 | €12,763 | €13,748 | +€985 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,763 | €13,748 | +€985 | +7.7% |
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 16 October 2026 via checked.be.