THEVCO: what changed
THEVCO
Largest movements
- Cash -€6,229
down €6,229 (-14.5%), from €42,910 to €36,681
mainly Contributions, distributions and other (-€48,581) and Net result for the year (-€6,867)
- Receivables within one year -€1,170
down €1,170 (-7.3%), from €15,971 to €14,801
of which Other amounts receivable: -€1,620
- Tangible fixed assets +€930
up €930 (+6.8%), from €13,755 to €14,686
of which Furniture and vehicles: +€1,938
- Profit (loss) carried forward -€55,448
down €55,448 (-100%), from €55,448 to €0
- Other debts +€49,623
up €49,623, from €0 to €49,623
- Trade debts -€2,089
down €2,089 (-28.3%), from €7,370 to €5,282
- Tax, wage and social debts +€1,448
up €1,448 (+27.4%), from €5,286 to €6,734
of which Taxes: +€1,448
- Financial charges +€7,375
up €7,375 (+23.9%), from €30,850 to €38,225
- Gross operating margin -€3,387
down €3,387 (-9.3%), from €36,564 to €33,177
- Taxes -€1,792
down €1,792 (-91.8%), from €1,953 to €160
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,105 | €66,656 | -€6,448 | -8.8% |
| Fixed assets | 21/28 | €13,755 | €14,686 | +€930 | +6.8% |
| Tangible fixed assets | 22/27 | €13,755 | €14,686 | +€930 | +6.8% |
| Land and buildings | 22 | €13,755 | €12,748 | -€1,008 | -7.3% |
| Furniture and vehicles | 24 | - | €1,938 | +€1,938 | |
| Current assets | 29/58 | €59,349 | €51,970 | -€7,379 | -12.4% |
| Amounts receivable within one year | 40/41 | €15,971 | €14,801 | -€1,170 | -7.3% |
| Trade receivables | 40 | €14,243 | €14,693 | +€450 | +3.2% |
| Other amounts receivable | 41 | €1,728 | €107 | -€1,620 | -93.8% |
| Cash at bank and in hand | 54/58 | €42,910 | €36,681 | -€6,229 | -14.5% |
| Deferred charges and accrued income | 490/1 | €468 | €489 | +€20 | +4.4% |
| Total equity and liabilities | 10/49 | €73,105 | €66,656 | -€6,448 | -8.8% |
| Equity | 10/15 | €60,448 | €5,000 | -€55,448 | -91.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,448 | €0 | -€55,448 | -100% |
| Amounts payable | 17/49 | €12,656 | €61,656 | +€49,000 | +387% |
| Amounts payable within one year | 42/48 | €12,656 | €61,639 | +€48,983 | +387% |
| Trade debts | 44 | €7,370 | €5,282 | -€2,089 | -28.3% |
| Suppliers | 440/4 | €7,370 | €5,282 | -€2,089 | -28.3% |
| Taxes, remuneration and social security | 45 | €5,286 | €6,734 | +€1,448 | +27.4% |
| Taxes | 450/3 | €5,286 | €6,734 | +€1,448 | +27.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €49,623 | +€49,623 | |
| Accrued charges and deferred income | 492/3 | €0 | €17 | +€17 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €901 | €1,016 | +€115 | +12.8% |
| Other operating charges | 640/8 | €538 | €643 | +€104 | +19.3% |
| Gross operating margin | 9900 | €36,564 | €33,177 | -€3,387 | -9.3% |
| Operating profit (loss) | 9901 | €35,125 | €31,518 | -€3,607 | -10.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €30,850 | €38,225 | +€7,375 | +23.9% |
| Recurring financial charges | 65 | €30,850 | €38,225 | +€7,375 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €4,275 | -€6,707 | -€10,982 | |
| Income taxes | 67/77 | €1,953 | €160 | -€1,792 | -91.8% |
| Profit (loss) for the period | 9904 | €2,322 | -€6,867 | -€9,190 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,322 | -€6,867 | -€9,190 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.