THEVISSEN MANAGEMENT: 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.
THEVISSEN MANAGEMENT
Largest movements
- Receivables within one year +€125,924
up €125,924 (+38.6%), from €326,551 to €452,475
- Current investments -€21,942
down €21,942 (-54.9%), from €40,000 to €18,058
- Reserves +€164,049
up €164,049 (+17.8%), from €919,852 to €1.1m
- Other debts -€48,236
down €48,236 (-26.1%), from €184,609 to €136,373
- Gross operating margin +€95,167
up €95,167 (+59.6%), from €159,732 to €254,900
- Taxes +€32,869
up €32,869 (+74.5%), from €44,116 to €76,985
- Financial charges -€5,047
down €5,047 (-28.4%), from €17,800 to €12,753
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 | €1,135,671 | €1,240,456 | +€104,784 | +9.2% |
| Fixed assets | 21/28 | €751,200 | €750,391 | -€809 | -0.1% |
| Tangible fixed assets | 22/27 | €1,200 | €391 | -€809 | -67.4% |
| Furniture and vehicles | 24 | €1,200 | €391 | -€809 | -67.4% |
| Financial fixed assets | 28 | €750,000 | €750,000 | = | 0.0% |
| Current assets | 29/58 | €384,471 | €490,064 | +€105,593 | +27.5% |
| Amounts receivable within one year | 40/41 | €326,551 | €452,475 | +€125,924 | +38.6% |
| Other amounts receivable | 41 | €326,551 | €452,475 | +€125,924 | +38.6% |
| Current investments | 50/53 | €40,000 | €18,058 | -€21,942 | -54.9% |
| Cash at bank and in hand | 54/58 | €13,961 | €15,912 | +€1,951 | +14.0% |
| Deferred charges and accrued income | 490/1 | €3,960 | €3,620 | -€340 | -8.6% |
| Total equity and liabilities | 10/49 | €1,135,671 | €1,240,456 | +€104,784 | +9.2% |
| Equity | 10/15 | €926,052 | €1,090,101 | +€164,049 | +17.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €919,852 | €1,083,901 | +€164,049 | +17.8% |
| Distributable reserves | 133 | €919,852 | €1,083,901 | +€164,049 | +17.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €209,619 | €150,354 | -€59,265 | -28.3% |
| Amounts payable within one year | 42/48 | €207,694 | €148,345 | -€59,349 | -28.6% |
| Financial debts | 43 | €4,247 | €0 | -€4,247 | -100% |
| Credit institutions | 430/8 | €4,247 | €0 | -€4,247 | -100% |
| Trade debts | 44 | €4,235 | €1,279 | -€2,955 | -69.8% |
| Suppliers | 440/4 | €4,235 | €1,279 | -€2,955 | -69.8% |
| Taxes, remuneration and social security | 45 | €14,604 | €10,693 | -€3,910 | -26.8% |
| Taxes | 450/3 | €7,459 | €10,693 | +€3,234 | +43.4% |
| Remuneration and social security | 454/9 | €7,145 | €0 | -€7,145 | -100% |
| Other amounts payable | 47/48 | €184,609 | €136,373 | -€48,236 | -26.1% |
| Accrued charges and deferred income | 492/3 | €1,925 | €2,009 | +€84 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €809 | €809 | = | 0.0% |
| Other operating charges | 640/8 | €1,270 | €1,060 | -€210 | -16.5% |
| Gross operating margin | 9900 | €159,732 | €254,900 | +€95,167 | +59.6% |
| Operating profit (loss) | 9901 | €157,653 | €253,030 | +€95,377 | +60.5% |
| Financial income | 75/76B | €1,120 | €757 | -€363 | -32.4% |
| Recurring financial income | 75 | €1,120 | €757 | -€363 | -32.4% |
| Financial charges | 65/66B | €17,800 | €12,753 | -€5,047 | -28.4% |
| Recurring financial charges | 65 | €17,800 | €12,753 | -€5,047 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €140,974 | €241,034 | +€100,061 | +71.0% |
| Income taxes | 67/77 | €44,116 | €76,985 | +€32,869 | +74.5% |
| Profit (loss) for the period | 9904 | €96,858 | €164,049 | +€67,191 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,858 | €164,049 | +€67,191 | +69.4% |
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.