THESIUS: 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.
THESIUS
Largest movements
- Cash +€12,220
up €12,220 (+29.1%), from €41,978 to €54,198
mainly Receivables within one year (+€8,614) and Depreciation (+€2,925)
- Receivables within one year -€8,614
down €8,614 (-12.6%), from €68,418 to €59,803
of which Trade receivables: -€15,006
- Tangible fixed assets -€2,925
down €2,925 (-22.8%), from €12,843 to €9,918
of which Plant, machinery and equipment: -€2,603
- Tax, wage and social debts -€3,361
down €3,361 (-48.1%), from €6,995 to €3,633
of which Taxes: -€5,461
- Other debts +€2,293
up €2,293 (+35.3%), from €6,492 to €8,785
- Gross operating margin -€5,726
down €5,726 (-46.5%), from €12,307 to €6,581
- Taxes -€1,716
down €1,716 (-34.0%), from €5,050 to €3,334
- Depreciation +€1,144
up €1,144 (+64.2%), from €1,781 to €2,925
- Financial income +€691
up €691 (+670%), from €103 to €794
- Other operating charges -€442
down €442 (-48.8%), from €906 to €464
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 | €188,986 | €189,714 | +€728 | +0.4% |
| Fixed assets | 21/28 | €77,843 | €74,918 | -€2,925 | -3.8% |
| Tangible fixed assets | 22/27 | €12,843 | €9,918 | -€2,925 | -22.8% |
| Plant, machinery and equipment | 23 | €11,461 | €8,859 | -€2,603 | -22.7% |
| Furniture and vehicles | 24 | €1,381 | €1,059 | -€322 | -23.3% |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €111,144 | €114,796 | +€3,652 | +3.3% |
| Amounts receivable within one year | 40/41 | €68,418 | €59,803 | -€8,614 | -12.6% |
| Trade receivables | 40 | €66,634 | €51,628 | -€15,006 | -22.5% |
| Other amounts receivable | 41 | €1,784 | €8,175 | +€6,392 | +358% |
| Cash at bank and in hand | 54/58 | €41,978 | €54,198 | +€12,220 | +29.1% |
| Deferred charges and accrued income | 490/1 | €748 | €795 | +€47 | +6.2% |
| Total equity and liabilities | 10/49 | €188,986 | €189,714 | +€728 | +0.4% |
| Equity | 10/15 | €174,438 | €174,520 | +€82 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,838 | €155,920 | +€82 | +0.1% |
| Distributable reserves | 133 | €155,838 | €155,920 | +€82 | +0.1% |
| Amounts payable | 17/49 | €14,549 | €15,194 | +€645 | +4.4% |
| Amounts payable within one year | 42/48 | €14,549 | €15,194 | +€645 | +4.4% |
| Trade debts | 44 | €1,062 | €2,775 | +€1,713 | +161% |
| Suppliers | 440/4 | €1,062 | €2,775 | +€1,713 | +161% |
| Taxes, remuneration and social security | 45 | €6,995 | €3,633 | -€3,361 | -48.1% |
| Taxes | 450/3 | €6,995 | €1,533 | -€5,461 | -78.1% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €6,492 | €8,785 | +€2,293 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,781 | €2,925 | +€1,144 | +64.2% |
| Other operating charges | 640/8 | €906 | €464 | -€442 | -48.8% |
| Gross operating margin | 9900 | €12,307 | €6,581 | -€5,726 | -46.5% |
| Operating profit (loss) | 9901 | €9,621 | €3,192 | -€6,428 | -66.8% |
| Financial income | 75/76B | €103 | €794 | +€691 | +670% |
| Recurring financial income | 75 | €103 | €794 | +€691 | +670% |
| Financial charges | 65/66B | €271 | €570 | +€299 | +110% |
| Recurring financial charges | 65 | €271 | €570 | +€299 | +110% |
| Profit (loss) for the period before taxes | 9903 | €9,452 | €3,417 | -€6,036 | -63.9% |
| Income taxes | 67/77 | €5,050 | €3,334 | -€1,716 | -34.0% |
| Profit (loss) for the period | 9904 | €4,402 | €82 | -€4,320 | -98.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,402 | €82 | -€4,320 | -98.1% |
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 24 October 2026 via checked.be.