THEVELEIN: 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.
THEVELEIN
Largest movements
- Cash +€28,617
new in 2025: €28,617
mainly Other debts (+€127,243) and Net result for the year (+€59,513)
- Receivables within one year +€17,596
up €17,596 (+10.6%), from €165,778 to €183,374
of which Other amounts receivable: +€32,210
- Tangible fixed assets -€15,030
down €15,030 (-6.9%), from €217,581 to €202,551
of which Land and buildings: -€13,231
- Debts after one year -€173,950
down €173,950 (-65.6%), from €265,117 to €91,167
of which Financial debts: -€104,000
- Other debts +€127,243
up €127,243 (+41.1%), from €309,688 to €436,932
- Profit (loss) carried forward +€47,432
up €47,432, from -€47,432 to €0
- Tax, wage and social debts +€26,685
up €26,685 (+1,010%), from €2,642 to €29,327
of which Taxes: +€28,285
- Reserves +€12,082
new in 2025: €12,082
- Gross operating margin +€85,792
up €85,792 (+253%), from €33,845 to €119,637
- Depreciation -€17,397
down €17,397 (-53.6%), from €32,426 to €15,030
- Taxes +€11,234
up €11,234 (+2,214%), from €507 to €11,741
- Financial charges +€9,499
up €9,499 (+232%), from €4,098 to €13,597
- Other operating charges +€3,690
up €3,690 (+26.3%), from €14,026 to €17,716
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 | €584,339 | €614,117 | +€29,778 | +5.1% |
| Fixed assets | 21/28 | €417,081 | €402,051 | -€15,030 | -3.6% |
| Tangible fixed assets | 22/27 | €217,581 | €202,551 | -€15,030 | -6.9% |
| Land and buildings | 22 | €212,118 | €198,886 | -€13,231 | -6.2% |
| Plant, machinery and equipment | 23 | €5,464 | €3,665 | -€1,799 | -32.9% |
| Financial fixed assets | 28 | €199,500 | €199,500 | = | 0.0% |
| Current assets | 29/58 | €167,258 | €212,066 | +€44,808 | +26.8% |
| Amounts receivable within one year | 40/41 | €165,778 | €183,374 | +€17,596 | +10.6% |
| Trade receivables | 40 | €163,735 | €149,121 | -€14,613 | -8.9% |
| Other amounts receivable | 41 | €2,043 | €34,252 | +€32,210 | +1,577% |
| Cash at bank and in hand | 54/58 | - | €28,617 | +€28,617 | |
| Deferred charges and accrued income | 490/1 | €1,480 | €75 | -€1,405 | -94.9% |
| Total equity and liabilities | 10/49 | €584,339 | €614,117 | +€29,778 | +5.1% |
| Equity | 10/15 | -€28,832 | €30,682 | +€59,513 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €12,082 | +€12,082 | |
| Distributable reserves | 133 | - | €12,082 | +€12,082 | |
| Profit (loss) carried forward | 14 | -€47,432 | €0 | +€47,432 | |
| Amounts payable | 17/49 | €613,171 | €583,436 | -€29,735 | -4.8% |
| Amounts payable after more than one year | 17 | €265,117 | €91,167 | -€173,950 | -65.6% |
| Financial debts | 170/4 | €105,167 | €1,167 | -€104,000 | -98.9% |
| Other amounts payable | 178/9 | €159,950 | €90,000 | -€69,950 | -43.7% |
| Amounts payable within one year | 42/48 | €339,816 | €489,119 | +€149,302 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | €15,167 | €14,000 | -€1,167 | -7.7% |
| Financial debts | 43 | €4,916 | €0 | -€4,916 | -100% |
| Credit institutions | 430/8 | €4,916 | €0 | -€4,916 | -100% |
| Trade debts | 44 | €7,404 | €8,861 | +€1,456 | +19.7% |
| Suppliers | 440/4 | €7,404 | €8,861 | +€1,456 | +19.7% |
| Taxes, remuneration and social security | 45 | €2,642 | €29,327 | +€26,685 | +1,010% |
| Taxes | 450/3 | €1,042 | €29,327 | +€28,285 | +2,716% |
| Remuneration and social security | 454/9 | €1,600 | €0 | -€1,600 | -100% |
| Other amounts payable | 47/48 | €309,688 | €436,932 | +€127,243 | +41.1% |
| Accrued charges and deferred income | 492/3 | €8,238 | €3,150 | -€5,088 | -61.8% |
| Non-recurring operating income | 76A | €3,000 | €0 | -€3,000 | -100% |
| Remuneration, social security and pensions | 62 | - | €543 | +€543 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,426 | €15,030 | -€17,397 | -53.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,495 | +€1,495 | |
| Other operating charges | 640/8 | €14,026 | €17,716 | +€3,690 | +26.3% |
| Gross operating margin | 9900 | €33,845 | €119,637 | +€85,792 | +253% |
| Operating profit (loss) | 9901 | -€12,608 | €84,852 | +€97,460 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €4,098 | €13,597 | +€9,499 | +232% |
| Recurring financial charges | 65 | €4,098 | €13,597 | +€9,499 | +232% |
| Profit (loss) for the period before taxes | 9903 | -€16,705 | €71,255 | +€87,960 | |
| Income taxes | 67/77 | €507 | €11,741 | +€11,234 | +2,214% |
| Profit (loss) for the period | 9904 | -€17,213 | €59,513 | +€76,726 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,213 | €59,513 | +€76,726 |
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 30 October 2026 via checked.be.