THEZECO: 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.
THEZECO
Largest movements
- Tangible fixed assets +€410,376
new in 2025: €410,376
- Receivables within one year +€259,357
new in 2025: €259,357
- Cash +€102,559
up €102,559 (+58,942%), from €174 to €102,733
mainly Other debts (+€777,918) and Receivables after one year (+€20,514)
- Receivables after one year -€20,514
no longer reported in 2025 (was €20,514)
- Other debts +€777,918
new in 2025: €777,918
- Reserves -€27,880
no longer reported in 2025 (was €27,880)
- Profit (loss) carried forward +€11,029
up €11,029 (+66.9%), from -€16,486 to -€5,457
- Provisions -€9,294
no longer reported in 2025 (was €9,294)
- Gross operating margin -€61,974
down €61,974, from €38,301 to -€23,673
- Other operating charges -€1,899
down €1,899 (-77.5%), from €2,449 to €550
- Depreciation +€1,376
new in 2025: €1,376
- Financial charges -€825
down €825 (-60.2%), from €1,371 to €546
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 | €20,688 | €772,466 | +€751,778 | +3,634% |
| Fixed assets | 21/28 | - | €410,376 | +€410,376 | |
| Tangible fixed assets | 22/27 | - | €410,376 | +€410,376 | |
| Land and buildings | 22 | - | €410,376 | +€410,376 | |
| Current assets | 29/58 | €20,688 | €362,089 | +€341,401 | +1,650% |
| Amounts receivable after more than one year | 29 | €20,514 | - | -€20,514 | |
| Other amounts receivable | 291 | €20,514 | - | -€20,514 | |
| Amounts receivable within one year | 40/41 | - | €259,357 | +€259,357 | |
| Trade receivables | 40 | - | €259,357 | +€259,357 | |
| Cash at bank and in hand | 54/58 | €174 | €102,733 | +€102,559 | +58,942% |
| Total equity and liabilities | 10/49 | €20,688 | €772,466 | +€751,778 | +3,634% |
| Equity | 10/15 | €11,394 | -€5,457 | -€16,851 | |
| Reserves | 13 | €27,880 | - | -€27,880 | |
| Tax-exempt reserves | 132 | €27,880 | - | -€27,880 | |
| Profit (loss) carried forward | 14 | -€16,486 | -€5,457 | +€11,029 | +66.9% |
| Provisions and deferred taxes | 16 | €9,294 | - | -€9,294 | |
| Deferred taxes | 168 | €9,294 | - | -€9,294 | |
| Amounts payable | 17/49 | - | €777,923 | +€777,923 | |
| Amounts payable within one year | 42/48 | - | €777,923 | +€777,923 | |
| Trade debts | 44 | - | €5 | +€5 | |
| Suppliers | 440/4 | - | €5 | +€5 | |
| Other amounts payable | 47/48 | - | €777,918 | +€777,918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,376 | +€1,376 | |
| Other operating charges | 640/8 | €2,449 | €550 | -€1,899 | -77.5% |
| Gross operating margin | 9900 | €38,301 | -€23,673 | -€61,974 | |
| Operating profit (loss) | 9901 | €35,852 | -€25,600 | -€61,452 | |
| Financial charges | 65/66B | €1,371 | €546 | -€825 | -60.2% |
| Recurring financial charges | 65 | €1,371 | €546 | -€825 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €34,481 | -€26,145 | -€60,626 | |
| Transfer from deferred taxes | 780 | - | €9,293 | +€9,293 | |
| Transfer to deferred taxes | 680 | €9,294 | - | -€9,294 | |
| Profit (loss) for the period | 9904 | €25,187 | -€16,852 | -€42,039 | |
| Transfer from tax-exempt reserves | 789 | - | €27,880 | +€27,880 | |
| Transfer to tax-exempt reserves | 689 | €27,880 | - | -€27,880 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,693 | €11,028 | +€13,721 |
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 24 October 2026 via checked.be.