THEYS THIERRY: 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.
THEYS THIERRY
Largest movements
- Cash -€204,472
down €204,472 (-46.7%), from €437,901 to €233,428
mainly Contributions, distributions and other (-€484,000) and Stocks and contracts (-€71,683)
- Stocks and contracts +€71,683
up €71,683 (+13.3%), from €538,817 to €610,500
- Receivables within one year +€18,295
up €18,295 (+42.9%), from €42,672 to €60,967
of which Trade receivables: +€16,033
- Reserves -€90,000
down €90,000 (-57.7%), from €156,102 to €66,102
- Other debts +€78,853
up €78,853 (+19.5%), from €404,359 to €483,212
- Trade debts -€65,436
down €65,436 (-50.1%), from €130,595 to €65,159
- Debts after one year -€52,782
down €52,782 (-28.0%), from €188,686 to €135,904
- Tax, wage and social debts +€13,271
up €13,271 (+14.9%), from €89,130 to €102,401
of which Remuneration and social security: +€16,196
- Gross operating margin -€14,887
down €14,887 (-1.7%), from €900,279 to €885,391
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,257,720 | €1,134,691 | -€123,029 | -9.8% |
| Fixed assets | 21/28 | €227,659 | €220,616 | -€7,043 | -3.1% |
| Tangible fixed assets | 22/27 | €227,659 | €220,616 | -€7,043 | -3.1% |
| Plant, machinery and equipment | 23 | €24,157 | €26,618 | +€2,461 | +10.2% |
| Furniture and vehicles | 24 | €28,240 | €33,008 | +€4,768 | +16.9% |
| Other tangible fixed assets | 26 | €175,262 | €160,990 | -€14,272 | -8.1% |
| Current assets | 29/58 | €1,030,061 | €914,075 | -€115,986 | -11.3% |
| Stocks and contracts in progress | 3 | €538,817 | €610,500 | +€71,683 | +13.3% |
| Stocks | 30/36 | €538,817 | €610,500 | +€71,683 | +13.3% |
| Amounts receivable within one year | 40/41 | €42,672 | €60,967 | +€18,295 | +42.9% |
| Trade receivables | 40 | €13,715 | €29,748 | +€16,033 | +117% |
| Other amounts receivable | 41 | €28,957 | €31,219 | +€2,262 | +7.8% |
| Cash at bank and in hand | 54/58 | €437,901 | €233,428 | -€204,472 | -46.7% |
| Deferred charges and accrued income | 490/1 | €10,671 | €9,180 | -€1,491 | -14.0% |
| Total equity and liabilities | 10/49 | €1,257,720 | €1,134,691 | -€123,029 | -9.8% |
| Equity | 10/15 | €282,195 | €192,731 | -€89,464 | -31.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €156,102 | €66,102 | -€90,000 | -57.7% |
| Distributable reserves | 133 | €156,102 | €66,102 | -€90,000 | -57.7% |
| Profit (loss) carried forward | 14 | €86,094 | €86,629 | +€536 | +0.6% |
| Amounts payable | 17/49 | €975,525 | €941,960 | -€33,565 | -3.4% |
| Amounts payable after more than one year | 17 | €188,686 | €135,904 | -€52,782 | -28.0% |
| Financial debts | 170/4 | €188,686 | €135,904 | -€52,782 | -28.0% |
| Amounts payable within one year | 42/48 | €687,055 | €704,850 | +€17,795 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €62,971 | €54,078 | -€8,893 | -14.1% |
| Trade debts | 44 | €130,595 | €65,159 | -€65,436 | -50.1% |
| Suppliers | 440/4 | €130,595 | €65,159 | -€65,436 | -50.1% |
| Taxes, remuneration and social security | 45 | €89,130 | €102,401 | +€13,271 | +14.9% |
| Taxes | 450/3 | €31,787 | €28,862 | -€2,925 | -9.2% |
| Remuneration and social security | 454/9 | €57,344 | €73,539 | +€16,196 | +28.2% |
| Other amounts payable | 47/48 | €404,359 | €483,212 | +€78,853 | +19.5% |
| Accrued charges and deferred income | 492/3 | €99,784 | €101,206 | +€1,422 | +1.4% |
| Remuneration, social security and pensions | 62 | €426,756 | €419,627 | -€7,129 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,522 | €59,231 | -€3,291 | -5.3% |
| Other operating charges | 640/8 | €2,356 | €3,223 | +€867 | +36.8% |
| Gross operating margin | 9900 | €900,279 | €885,391 | -€14,887 | -1.7% |
| Operating profit (loss) | 9901 | €408,644 | €403,311 | -€5,333 | -1.3% |
| Financial income | 75/76B | €1,938 | €2,208 | +€270 | +13.9% |
| Recurring financial income | 75 | €1,938 | €2,208 | +€270 | +13.9% |
| Financial charges | 65/66B | €7,942 | €8,934 | +€993 | +12.5% |
| Recurring financial charges | 65 | €7,942 | €8,934 | +€993 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €402,640 | €396,584 | -€6,056 | -1.5% |
| Income taxes | 67/77 | €2,618 | €2,048 | -€569 | -21.7% |
| Profit (loss) for the period | 9904 | €400,023 | €394,536 | -€5,487 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €400,023 | €394,536 | -€5,487 | -1.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.