THESIAU: 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.
THESIAU
Largest movements
- Stocks and contracts -€4,049
down €4,049 (-3.2%), from €127,419 to €123,370
- Tangible fixed assets -€3,715
down €3,715 (-3.0%), from €124,637 to €120,922
of which Land and buildings: -€3,610
- Profit (loss) carried forward -€24,273
down €24,273 (-13.6%), from -€178,558 to -€202,830
- Other debts +€21,597
up €21,597 (+10.7%), from €201,043 to €222,640
- Debts after one year -€20,201
down €20,201 (-53.5%), from €37,766 to €17,565
- Trade debts +€15,227
up €15,227 (+14.4%), from €105,484 to €120,711
- Gross operating margin -€5,959
down €5,959 (-20.0%), from €29,754 to €23,795
- Financial charges -€1,075
down €1,075 (-29.2%), from €3,679 to €2,604
- Staff costs +€791
up €791 (+2.4%), from €33,430 to €34,221
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €261,751 | €253,539 | -€8,212 | -3.1% |
| Fixed assets | 21/28 | €124,637 | €120,922 | -€3,715 | -3.0% |
| Tangible fixed assets | 22/27 | €124,637 | €120,922 | -€3,715 | -3.0% |
| Land and buildings | 22 | €124,511 | €120,901 | -€3,610 | -2.9% |
| Furniture and vehicles | 24 | €125 | €21 | -€105 | -83.6% |
| Current assets | 29/58 | €137,115 | €132,618 | -€4,497 | -3.3% |
| Stocks and contracts in progress | 3 | €127,419 | €123,370 | -€4,049 | -3.2% |
| Stocks | 30/36 | €127,419 | €123,370 | -€4,049 | -3.2% |
| Cash at bank and in hand | 54/58 | €5,967 | €5,602 | -€365 | -6.1% |
| Deferred charges and accrued income | 490/1 | €3,729 | €3,645 | -€84 | -2.2% |
| Total equity and liabilities | 10/49 | €261,751 | €253,539 | -€8,212 | -3.1% |
| Equity | 10/15 | -€116,558 | -€140,830 | -€24,273 | -20.8% |
| 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% |
| Profit (loss) carried forward | 14 | -€178,558 | -€202,830 | -€24,273 | -13.6% |
| Amounts payable | 17/49 | €378,309 | €394,369 | +€16,060 | +4.2% |
| Amounts payable after more than one year | 17 | €37,766 | €17,565 | -€20,201 | -53.5% |
| Financial debts | 170/4 | €37,766 | €17,565 | -€20,201 | -53.5% |
| Amounts payable within one year | 42/48 | €340,543 | €376,804 | +€36,261 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €21,530 | €21,530 | = | 0.0% |
| Trade debts | 44 | €105,484 | €120,711 | +€15,227 | +14.4% |
| Suppliers | 440/4 | €105,484 | €120,711 | +€15,227 | +14.4% |
| Advances received on contracts in progress | 46 | €450 | €700 | +€250 | +55.6% |
| Taxes, remuneration and social security | 45 | €12,037 | €11,224 | -€813 | -6.8% |
| Taxes | 450/3 | €3,397 | €2,312 | -€1,085 | -31.9% |
| Remuneration and social security | 454/9 | €8,639 | €8,912 | +€272 | +3.2% |
| Other amounts payable | 47/48 | €201,043 | €222,640 | +€21,597 | +10.7% |
| Non-recurring operating income | 76A | €40 | €0 | -€40 | -100% |
| Remuneration, social security and pensions | 62 | €33,430 | €34,221 | +€791 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,187 | €9,041 | -€146 | -1.6% |
| Other operating charges | 640/8 | €2,124 | €2,206 | +€83 | +3.9% |
| Gross operating margin | 9900 | €29,754 | €23,795 | -€5,959 | -20.0% |
| Operating profit (loss) | 9901 | -€14,987 | -€21,673 | -€6,686 | -44.6% |
| Financial income | 75/76B | €13 | €4 | -€9 | -69.4% |
| Recurring financial income | 75 | €13 | €4 | -€9 | -69.4% |
| Financial charges | 65/66B | €3,679 | €2,604 | -€1,075 | -29.2% |
| Recurring financial charges | 65 | €3,679 | €2,604 | -€1,075 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,653 | -€24,273 | -€5,620 | -30.1% |
| Profit (loss) for the period | 9904 | -€18,653 | -€24,273 | -€5,620 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,653 | -€24,273 | -€5,620 | -30.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.