Therese Projects: 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.
Therese Projects
Largest movements
- Cash -€26,320
no longer reported in 2025 (was €26,320)
mainly Net result for the year (-€135,098) and Trade debts (-€65,782)
- Deferred charges and accrued income +€1,058
up €1,058 (+27.0%), from €3,911 to €4,969
- Profit (loss) carried forward -€135,098
down €135,098 (-88.0%), from -€153,530 to -€288,628
- Advances received +€99,799
new in 2025: €99,799
- Other debts +€77,451
new in 2025: €77,451
- Trade debts -€65,782
down €65,782 (-30.5%), from €215,487 to €149,705
- Gross operating margin +€78,282
up €78,282 (+37.7%), from -€207,426 to -€129,144
- Taxes -€15,253
down €15,253 (-74.7%), from €20,409 to €5,155
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 | €97,994 | €73,432 | -€24,563 | -25.1% |
| Current assets | 29/58 | €97,994 | €73,432 | -€24,563 | -25.1% |
| Amounts receivable within one year | 40/41 | €67,762 | €68,462 | +€700 | +1.0% |
| Trade receivables | 40 | €67,762 | €68,462 | +€700 | +1.0% |
| Cash at bank and in hand | 54/58 | €26,320 | - | -€26,320 | |
| Deferred charges and accrued income | 490/1 | €3,911 | €4,969 | +€1,058 | +27.0% |
| Total equity and liabilities | 10/49 | €97,994 | €73,432 | -€24,563 | -25.1% |
| Equity | 10/15 | -€138,530 | -€273,628 | -€135,098 | -97.5% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Capital | 10 | €15,000 | €15,000 | = | 0.0% |
| Issued capital | 100 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€153,530 | -€288,628 | -€135,098 | -88.0% |
| Amounts payable | 17/49 | €236,524 | €347,059 | +€110,535 | +46.7% |
| Amounts payable within one year | 42/48 | €236,524 | €347,059 | +€110,535 | +46.7% |
| Trade debts | 44 | €215,487 | €149,705 | -€65,782 | -30.5% |
| Suppliers | 440/4 | €215,487 | €149,705 | -€65,782 | -30.5% |
| Advances received on contracts in progress | 46 | - | €99,799 | +€99,799 | |
| Taxes, remuneration and social security | 45 | €21,037 | €20,104 | -€933 | -4.4% |
| Taxes | 450/3 | €21,037 | €20,104 | -€933 | -4.4% |
| Other amounts payable | 47/48 | - | €77,451 | +€77,451 | |
| Other operating charges | 640/8 | €666 | €593 | -€73 | -10.9% |
| Gross operating margin | 9900 | -€207,426 | -€129,144 | +€78,282 | +37.7% |
| Operating profit (loss) | 9901 | -€208,092 | -€129,737 | +€78,355 | +37.7% |
| Financial charges | 65/66B | €126 | €206 | +€80 | +63.6% |
| Recurring financial charges | 65 | €126 | €206 | +€80 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | -€208,217 | -€129,943 | +€78,275 | +37.6% |
| Income taxes | 67/77 | €20,409 | €5,155 | -€15,253 | -74.7% |
| Profit (loss) for the period | 9904 | -€228,626 | -€135,098 | +€93,528 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€228,626 | -€135,098 | +€93,528 | +40.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.