THEUNISSEN: 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.
THEUNISSEN
Largest movements
- Receivables within one year +€117,209
up €117,209 (+29.2%), from €402,085 to €519,294
of which Trade receivables: +€120,691
- Stocks and contracts +€89,020
up €89,020 (+11.7%), from €762,534 to €851,555
- Cash +€43,535
up €43,535 (+14.7%), from €295,893 to €339,427
mainly Trade debts (+€106,381) and Short-term financial debts (+€85,000)
- Tangible fixed assets -€22,398
down €22,398 (-16.3%), from €137,021 to €114,623
of which Plant, machinery and equipment: -€26,606
- Trade debts +€106,381
up €106,381 (+89.9%), from €118,296 to €224,677
- Short-term financial debts +€85,000
up €85,000 (+85.0%), from €100,000 to €185,000
- Reserves +€64,318
up €64,318 (+10.9%), from €591,762 to €656,080
of which Distributable reserves: +€64,318
- Debts after one year -€47,302
down €47,302 (-8.4%), from €561,731 to €514,429
of which Financial debts: -€54,112
- Tax, wage and social debts +€23,263
up €23,263 (+61.7%), from €37,694 to €60,957
of which Remuneration and social security: +€13,630
- Staff costs +€56,221
up €56,221 (+32.3%), from €174,159 to €230,380
- Write-downs +€40,000
up €40,000, from -€40,000 to €0
- Gross operating margin +€28,880
up €28,880 (+8.1%), from €357,826 to €386,706
- Taxes -€16,817
down €16,817 (-41.2%), from €40,836 to €24,020
- Depreciation +€4,844
up €4,844 (+9.5%), from €50,846 to €55,690
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 | €1,600,491 | €1,828,314 | +€227,823 | +14.2% |
| Fixed assets | 21/28 | €137,889 | €115,491 | -€22,398 | -16.2% |
| Tangible fixed assets | 22/27 | €137,021 | €114,623 | -€22,398 | -16.3% |
| Plant, machinery and equipment | 23 | €107,662 | €81,056 | -€26,606 | -24.7% |
| Furniture and vehicles | 24 | €29,360 | €16,163 | -€13,197 | -44.9% |
| Leasing and similar rights | 25 | - | €17,404 | +€17,404 | |
| Financial fixed assets | 28 | €868 | €868 | = | 0.0% |
| Current assets | 29/58 | €1,462,602 | €1,712,824 | +€250,221 | +17.1% |
| Stocks and contracts in progress | 3 | €762,534 | €851,555 | +€89,020 | +11.7% |
| Stocks | 30/36 | €762,534 | €851,555 | +€89,020 | +11.7% |
| Amounts receivable within one year | 40/41 | €402,085 | €519,294 | +€117,209 | +29.2% |
| Trade receivables | 40 | €333,758 | €454,449 | +€120,691 | +36.2% |
| Other amounts receivable | 41 | €68,327 | €64,845 | -€3,482 | -5.1% |
| Cash at bank and in hand | 54/58 | €295,893 | €339,427 | +€43,535 | +14.7% |
| Deferred charges and accrued income | 490/1 | €2,090 | €2,547 | +€457 | +21.9% |
| Total equity and liabilities | 10/49 | €1,600,491 | €1,828,314 | +€227,823 | +14.2% |
| Equity | 10/15 | €691,762 | €756,080 | +€64,318 | +9.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €591,762 | €656,080 | +€64,318 | +10.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,715 | €15,715 | = | 0.0% |
| Distributable reserves | 133 | €566,048 | €630,365 | +€64,318 | +11.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €908,729 | €1,072,234 | +€163,505 | +18.0% |
| Amounts payable after more than one year | 17 | €561,731 | €514,429 | -€47,302 | -8.4% |
| Financial debts | 170/4 | €235,547 | €181,435 | -€54,112 | -23.0% |
| Other amounts payable | 178/9 | €326,184 | €332,994 | +€6,810 | +2.1% |
| Amounts payable within one year | 42/48 | €335,436 | €549,386 | +€213,950 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | €72,547 | €68,615 | -€3,932 | -5.4% |
| Financial debts | 43 | €100,000 | €185,000 | +€85,000 | +85.0% |
| Credit institutions | 430/8 | €100,000 | €185,000 | +€85,000 | +85.0% |
| Trade debts | 44 | €118,296 | €224,677 | +€106,381 | +89.9% |
| Suppliers | 440/4 | €118,296 | €224,677 | +€106,381 | +89.9% |
| Advances received on contracts in progress | 46 | €6,899 | €10,138 | +€3,239 | +46.9% |
| Taxes, remuneration and social security | 45 | €37,694 | €60,957 | +€23,263 | +61.7% |
| Taxes | 450/3 | €23,536 | €33,169 | +€9,633 | +40.9% |
| Remuneration and social security | 454/9 | €14,158 | €27,788 | +€13,630 | +96.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €11,562 | €8,419 | -€3,143 | -27.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €174,159 | €230,380 | +€56,221 | +32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,846 | €55,690 | +€4,844 | +9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€40,000 | €0 | +€40,000 | |
| Other operating charges | 640/8 | €6,191 | €4,016 | -€2,174 | -35.1% |
| Gross operating margin | 9900 | €357,826 | €386,706 | +€28,880 | +8.1% |
| Operating profit (loss) | 9901 | €166,629 | €96,619 | -€70,010 | -42.0% |
| Financial income | 75/76B | €12,266 | €16,909 | +€4,643 | +37.9% |
| Recurring financial income | 75 | €12,266 | €16,909 | +€4,643 | +37.9% |
| Financial charges | 65/66B | €26,628 | €25,191 | -€1,437 | -5.4% |
| Recurring financial charges | 65 | €26,628 | €25,191 | -€1,437 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €152,267 | €88,337 | -€63,930 | -42.0% |
| Income taxes | 67/77 | €40,836 | €24,020 | -€16,817 | -41.2% |
| Profit (loss) for the period | 9904 | €111,431 | €64,318 | -€47,114 | -42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €111,431 | €64,318 | -€47,114 | -42.3% |
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 1 November 2026 via checked.be.