THERIVER: 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.
THERIVER
Largest movements
- Intangible fixed assets -€34,945
down €34,945 (-46.6%), from €74,986 to €40,041
- Cash -€12,104
down €12,104 (-57.9%), from €20,890 to €8,786
mainly Net result for the year (-€130,015)
- Tangible fixed assets -€9,397
down €9,397 (-41.0%), from €22,902 to €13,505
of which Plant, machinery and equipment: -€9,258
- Profit (loss) carried forward -€130,015
down €130,015 (-40.6%), from -€320,461 to -€450,477
- Other debts +€61,000
up €61,000 (+35.9%), from €170,000 to €231,000
- Debts after one year +€12,455
up €12,455 (+5.0%), from €249,101 to €261,556
- Depreciation -€1,451
down €1,451 (-3.2%), from €45,793 to €44,342
- Financial charges +€815
up €815 (+6.6%), from €12,391 to €13,206
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 | €119,117 | €62,540 | -€56,578 | -47.5% |
| Fixed assets | 21/28 | €97,888 | €53,546 | -€44,342 | -45.3% |
| Intangible fixed assets | 21 | €74,986 | €40,041 | -€34,945 | -46.6% |
| Tangible fixed assets | 22/27 | €22,902 | €13,505 | -€9,397 | -41.0% |
| Plant, machinery and equipment | 23 | €22,683 | €13,426 | -€9,258 | -40.8% |
| Furniture and vehicles | 24 | €218 | €79 | -€139 | -63.7% |
| Current assets | 29/58 | €21,229 | €8,993 | -€12,236 | -57.6% |
| Amounts receivable within one year | 40/41 | €339 | €207 | -€132 | -38.9% |
| Other amounts receivable | 41 | €339 | €207 | -€132 | -38.9% |
| Cash at bank and in hand | 54/58 | €20,890 | €8,786 | -€12,104 | -57.9% |
| Total equity and liabilities | 10/49 | €119,117 | €62,540 | -€56,578 | -47.5% |
| Equity | 10/15 | -€300,001 | -€430,017 | -€130,015 | -43.3% |
| 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 | -€320,461 | -€450,477 | -€130,015 | -40.6% |
| Amounts payable | 17/49 | €419,118 | €492,556 | +€73,438 | +17.5% |
| Amounts payable after more than one year | 17 | €249,101 | €261,556 | +€12,455 | +5.0% |
| Financial debts | 170/4 | €249,101 | €261,556 | +€12,455 | +5.0% |
| Amounts payable within one year | 42/48 | €170,000 | €231,000 | +€61,000 | +35.9% |
| Other amounts payable | 47/48 | €170,000 | €231,000 | +€61,000 | +35.9% |
| Accrued charges and deferred income | 492/3 | €17 | - | -€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,793 | €44,342 | -€1,451 | -3.2% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €1,290 | - | -€1,290 | |
| Gross operating margin | 9900 | -€71,981 | -€72,068 | -€87 | -0.1% |
| Operating profit (loss) | 9901 | -€119,452 | -€116,810 | +€2,642 | +2.2% |
| Financial charges | 65/66B | €12,391 | €13,206 | +€815 | +6.6% |
| Recurring financial charges | 65 | €12,391 | €13,206 | +€815 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | -€131,843 | -€130,015 | +€1,828 | +1.4% |
| Profit (loss) for the period | 9904 | -€131,843 | -€130,015 | +€1,828 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€131,843 | -€130,015 | +€1,828 | +1.4% |
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 14 October 2026 via checked.be.