THESIA: 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.
THESIA
Largest movements
- Receivables within one year -€9,882
down €9,882 (-22.7%), from €43,462 to €33,580
of which Trade receivables: -€10,388
- Cash +€6,520
up €6,520 (+10.0%), from €65,063 to €71,583
mainly Net result for the year (+€23,468) and Receivables within one year (+€9,882)
- Deferred charges and accrued income -€2,654
down €2,654 (-32.4%), from €8,194 to €5,540
- Reserves -€5,125
down €5,125 (-5.7%), from €89,518 to €84,393
- Gross operating margin +€2,728
up €2,728 (+8.9%), from €30,614 to €33,342
- Taxes +€677
up €677 (+7.5%), from €9,070 to €9,746
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 | €116,719 | €111,352 | -€5,366 | -4.6% |
| Fixed assets | 21/28 | - | €650 | +€650 | |
| Tangible fixed assets | 22/27 | - | €650 | +€650 | |
| Plant, machinery and equipment | 23 | - | €650 | +€650 | |
| Current assets | 29/58 | €116,719 | €110,703 | -€6,016 | -5.2% |
| Amounts receivable within one year | 40/41 | €43,462 | €33,580 | -€9,882 | -22.7% |
| Trade receivables | 40 | €24,397 | €14,009 | -€10,388 | -42.6% |
| Other amounts receivable | 41 | €19,065 | €19,571 | +€506 | +2.7% |
| Cash at bank and in hand | 54/58 | €65,063 | €71,583 | +€6,520 | +10.0% |
| Deferred charges and accrued income | 490/1 | €8,194 | €5,540 | -€2,654 | -32.4% |
| Total equity and liabilities | 10/49 | €116,719 | €111,352 | -€5,366 | -4.6% |
| Equity | 10/15 | €95,718 | €90,593 | -€5,125 | -5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €89,518 | €84,393 | -€5,125 | -5.7% |
| Distributable reserves | 133 | €89,518 | €84,393 | -€5,125 | -5.7% |
| Amounts payable | 17/49 | €21,001 | €20,759 | -€242 | -1.2% |
| Amounts payable within one year | 42/48 | €17,667 | €17,581 | -€86 | -0.5% |
| Trade debts | 44 | €5,483 | €5,407 | -€76 | -1.4% |
| Suppliers | 440/4 | €5,483 | €5,407 | -€76 | -1.4% |
| Taxes, remuneration and social security | 45 | €12,184 | €12,174 | -€10 | -0.1% |
| Taxes | 450/3 | €9,662 | €9,687 | +€25 | +0.3% |
| Remuneration and social security | 454/9 | €2,522 | €2,488 | -€35 | -1.4% |
| Accrued charges and deferred income | 492/3 | €3,334 | €3,178 | -€156 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €180 | +€180 | |
| Other operating charges | 640/8 | €736 | €515 | -€221 | -30.0% |
| Gross operating margin | 9900 | €30,614 | €33,342 | +€2,728 | +8.9% |
| Operating profit (loss) | 9901 | €29,879 | €32,647 | +€2,769 | +9.3% |
| Financial income | 75/76B | €904 | €1,171 | +€267 | +29.6% |
| Recurring financial income | 75 | €904 | €1,171 | +€267 | +29.6% |
| Financial charges | 65/66B | €849 | €604 | -€245 | -28.9% |
| Recurring financial charges | 65 | €849 | €604 | -€245 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €29,933 | €33,214 | +€3,281 | +11.0% |
| Income taxes | 67/77 | €9,070 | €9,746 | +€677 | +7.5% |
| Profit (loss) for the period | 9904 | €20,864 | €23,468 | +€2,604 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,864 | €23,468 | +€2,604 | +12.5% |
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.