THEYS & ZOON: what changed
THEYS & ZOON
Largest movements
- Receivables within one year +€31,173
up €31,173 (+10.3%), from €303,454 to €334,627
of which Trade receivables: +€18,173
- Cash -€24,659
down €24,659 (-27.4%), from €89,996 to €65,337
mainly Investment in fixed assets (net) (-€48,835) and Receivables within one year (-€31,173)
- Tangible fixed assets +€19,736
up €19,736 (+3.8%), from €520,327 to €540,064
of which Furniture and vehicles: +€23,342
- Reserves +€73,659
up €73,659 (+8.8%), from €838,024 to €911,683
of which Distributable reserves: +€73,659
- Debts after one year -€26,304
down €26,304 (-16.7%), from €157,205 to €130,900
- Tax, wage and social debts -€13,074
down €13,074 (-33.0%), from €39,650 to €26,576
of which Remuneration and social security: -€6,848
- Gross operating margin +€52,379
up €52,379 (+18.9%), from €277,492 to €329,871
- Taxes +€15,579
up €15,579 (+267%), from €5,838 to €21,416
- Staff costs -€8,781
down €8,781 (-4.1%), from €212,090 to €203,309
- Depreciation -€8,445
down €8,445 (-22.5%), from €37,544 to €29,099
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 | €1,125,671 | €1,160,739 | +€35,068 | +3.1% |
| Fixed assets | 21/28 | €520,327 | €540,064 | +€19,736 | +3.8% |
| Tangible fixed assets | 22/27 | €520,327 | €540,064 | +€19,736 | +3.8% |
| Land and buildings | 22 | €426,892 | €414,468 | -€12,423 | -2.9% |
| Plant, machinery and equipment | 23 | €9,174 | €17,992 | +€8,818 | +96.1% |
| Furniture and vehicles | 24 | €84,262 | €107,604 | +€23,342 | +27.7% |
| Current assets | 29/58 | €605,344 | €620,676 | +€15,332 | +2.5% |
| Amounts receivable within one year | 40/41 | €303,454 | €334,627 | +€31,173 | +10.3% |
| Trade receivables | 40 | €143,627 | €161,800 | +€18,173 | +12.7% |
| Other amounts receivable | 41 | €159,828 | €172,827 | +€13,000 | +8.1% |
| Current investments | 50/53 | €202,096 | €209,096 | +€7,000 | +3.5% |
| Cash at bank and in hand | 54/58 | €89,996 | €65,337 | -€24,659 | -27.4% |
| Deferred charges and accrued income | 490/1 | €9,798 | €11,616 | +€1,818 | +18.6% |
| Total equity and liabilities | 10/49 | €1,125,671 | €1,160,739 | +€35,068 | +3.1% |
| Equity | 10/15 | €856,616 | €930,275 | +€73,659 | +8.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | - | -€18,592 | |
| Issued capital | 100 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €838,024 | €911,683 | +€73,659 | +8.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €798,665 | €872,323 | +€73,659 | +9.2% |
| Amounts payable | 17/49 | €269,055 | €230,465 | -€38,590 | -14.3% |
| Amounts payable after more than one year | 17 | €157,205 | €130,900 | -€26,304 | -16.7% |
| Financial debts | 170/4 | €157,205 | €130,900 | -€26,304 | -16.7% |
| Amounts payable within one year | 42/48 | €111,850 | €99,565 | -€12,286 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €31,601 | €28,953 | -€2,648 | -8.4% |
| Financial debts | 43 | €4,255 | €4,234 | -€21 | -0.5% |
| Credit institutions | 430/8 | €4,255 | €4,234 | -€21 | -0.5% |
| Trade debts | 44 | €36,345 | €39,802 | +€3,457 | +9.5% |
| Suppliers | 440/4 | €36,345 | €39,802 | +€3,457 | +9.5% |
| Taxes, remuneration and social security | 45 | €39,650 | €26,576 | -€13,074 | -33.0% |
| Taxes | 450/3 | €6,707 | €481 | -€6,225 | -92.8% |
| Remuneration and social security | 454/9 | €32,943 | €26,095 | -€6,848 | -20.8% |
| Non-recurring operating income | 76A | €2,583 | - | -€2,583 | |
| Remuneration, social security and pensions | 62 | €212,090 | €203,309 | -€8,781 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,544 | €29,099 | -€8,445 | -22.5% |
| Other operating charges | 640/8 | €4,265 | €5,965 | +€1,700 | +39.9% |
| Gross operating margin | 9900 | €277,492 | €329,871 | +€52,379 | +18.9% |
| Operating profit (loss) | 9901 | €23,593 | €91,498 | +€67,905 | +288% |
| Financial income | 75/76B | €8,540 | €8,157 | -€383 | -4.5% |
| Recurring financial income | 75 | €8,540 | €8,157 | -€383 | -4.5% |
| Financial charges | 65/66B | €5,554 | €4,580 | -€974 | -17.5% |
| Recurring financial charges | 65 | €5,554 | €4,580 | -€974 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €26,579 | €95,075 | +€68,496 | +258% |
| Income taxes | 67/77 | €5,838 | €21,416 | +€15,579 | +267% |
| Profit (loss) for the period | 9904 | €20,741 | €73,659 | +€52,918 | +255% |
| Profit (loss) for the period to be appropriated | 9905 | €20,741 | €73,659 | +€52,918 | +255% |
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 3 November 2026 via checked.be.