Thevi: what changed
Two fiscal 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.
Thevi
Largest movements
- Cash -€189,959
down €189,959 (-82.9%), from €229,189 to €39,230
mainly Other debts (-€272,917) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets -€104,658
down €104,658 (-3.0%), from €3.5m to €3.4m
of which Land and buildings: -€103,759
- Receivables within one year -€62,604
down €62,604 (-100.0%), from €62,604 to €0
- Other debts -€272,917
down €272,917 (-99.1%), from €275,417 to €2,500
- Reserves -€74,034
down €74,034 (-2.2%), from €3.4m to €3.4m
of which Distributable reserves: -€63,480
- Gross operating margin -€205,374
down €205,374 (-67.2%), from €305,632 to €100,259
- Financial charges -€49,993
down €49,993 (-98.8%), from €50,594 to €602
- Taxes -€22,131
down €22,131 (-100.0%), from €22,131 to €0
- Depreciation -€16,815
down €16,815 (-13.8%), from €121,472 to €104,658
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.
Cash bridge derived
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 | €3,807,403 | €3,450,183 | -€357,221 | -9.4% |
| Fixed assets | 21/28 | €3,515,610 | €3,410,953 | -€104,658 | -3.0% |
| Tangible fixed assets | 22/27 | €3,515,610 | €3,410,953 | -€104,658 | -3.0% |
| Land and buildings | 22 | €3,513,218 | €3,409,459 | -€103,759 | -3.0% |
| Furniture and vehicles | 24 | €2,392 | €1,493 | -€899 | -37.6% |
| Current assets | 29/58 | €291,793 | €39,230 | -€252,563 | -86.6% |
| Amounts receivable within one year | 40/41 | €62,604 | €0 | -€62,604 | -100.0% |
| Other amounts receivable | 41 | €62,604 | €0 | -€62,604 | -100.0% |
| Cash at bank and in hand | 54/58 | €229,189 | €39,230 | -€189,959 | -82.9% |
| Total equity and liabilities | 10/49 | €3,807,403 | €3,450,183 | -€357,221 | -9.4% |
| Equity | 10/15 | €3,455,645 | €3,381,611 | -€74,034 | -2.1% |
| Contributions | 10/11 | €18,969 | €18,969 | = | 0.0% |
| Reserves | 13 | €3,436,676 | €3,362,642 | -€74,034 | -2.2% |
| Tax-exempt reserves | 132 | €22,906 | €12,353 | -€10,554 | -46.1% |
| Distributable reserves | 133 | €3,413,770 | €3,350,290 | -€63,480 | -1.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €7,543 | €4,657 | -€2,887 | -38.3% |
| Deferred taxes | 168 | €7,543 | €4,657 | -€2,887 | -38.3% |
| Amounts payable | 17/49 | €344,215 | €63,915 | -€280,300 | -81.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €286,929 | €9,432 | -€277,497 | -96.7% |
| Trade debts | 44 | €117 | €6,932 | +€6,815 | +5824.9% |
| Suppliers | 440/4 | €117 | €6,932 | +€6,815 | +5824.9% |
| Taxes, remuneration and social security | 45 | €11,396 | €0 | -€11,396 | -100.0% |
| Taxes | 450/3 | €11,396 | €0 | -€11,396 | -100.0% |
| Other amounts payable | 47/48 | €275,417 | €2,500 | -€272,917 | -99.1% |
| Accrued charges and deferred income | 492/3 | €57,286 | €54,482 | -€2,803 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,472 | €104,658 | -€16,815 | -13.8% |
| Other operating charges | 640/8 | €21,253 | €21,919 | +€667 | +3.1% |
| Gross operating margin | 9900 | €305,632 | €100,259 | -€205,374 | -67.2% |
| Operating profit (loss) | 9901 | €162,907 | -€26,318 | -€189,226 | |
| Financial charges | 65/66B | €50,594 | €602 | -€49,993 | -98.8% |
| Recurring financial charges | 65 | €50,594 | €602 | -€49,993 | -98.8% |
| Profit (loss) for the period before taxes | 9903 | €112,313 | -€26,920 | -€139,233 | |
| Transfer from deferred taxes | 780 | €4,541 | €2,887 | -€1,654 | -36.4% |
| Income taxes | 67/77 | €22,131 | €0 | -€22,131 | -100.0% |
| Profit (loss) for the period | 9904 | €94,722 | -€24,034 | -€118,756 | |
| Transfer from tax-exempt reserves | 789 | €13,594 | €10,554 | -€3,040 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €108,316 | -€13,480 | -€121,796 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.