THIELEMANS & C°: what changed
What changed
THIELEMANS & C°
NACE 43.350, Other building finishing work
filed annual accounts (NBB)
Net result for the year
€842,722
2024 · €1.0m-€175,309
Equity
€4.3m
2024 · €3.7m+€603,380
Cash
€1.1m
2024 · €1.3m-€140,432
Balance sheet total
€7.3m
2024 · €6.4m+€943,789
Largest movements
Assets
- Receivables within one year +€496,328
up €496,328 (+19.7%), from €2.5m to €3.0m
of which Other amounts receivable: +€255,571
- Receivables after one year +€350,000
up €350,000 (+280%), from €125,000 to €475,000
- Deferred charges and accrued income +€146,271
up €146,271 (+477%), from €30,656 to €176,927
- Tangible fixed assets +€143,688
up €143,688 (+8.4%), from €1.7m to €1.8m
of which Plant, machinery and equipment: +€129,704
- Cash -€140,432
down €140,432 (-11.1%), from €1.3m to €1.1m
mainly Investment in fixed assets (net) (-€560,696) and Receivables within one year (-€496,328)
Equity and liabilities
- Profit (loss) carried forward +€861,140
up €861,140 (+47.9%), from €1.8m to €2.7m
- Reserves -€257,760
down €257,760 (-13.9%), from €1.9m to €1.6m
of which Distributable reserves: -€239,343
- Debts after one year +€182,146
up €182,146 (+23.0%), from €793,416 to €975,562
- Advances received +€126,876
up €126,876 (+46.3%), from €273,754 to €400,630
- Current portion of long-term debt +€82,817
up €82,817 (+42.4%), from €195,153 to €277,969
Income statement
- Goods and materials +€668,687
up €668,687 (+7.7%), from €8.6m to €9.3m
of which Purchases: +€407,507
- Turnover +€543,362
up €543,362 (+3.6%), from €15.3m to €15.8m
- Staff costs +€199,808
up €199,808 (+7.0%), from €2.9m to €3.1m
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.
Result 2024
€1.0m
Turnover
+€543,362
Other operating income
-€10,739
Goods and materials
-€668,687
Services and other goods
+€43,951
Staff costs
-€199,808
Depreciation
-€43,694
Write-downs
-€1,472
Provisions
+€55,740
Other operating charges
+€3,852
Other operating items
-€9,844
Financial income
+€32,854
Financial charges
+€3,047
Taxes
+€76,130
Result 2025
€842,722
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€394,823
Investment
-€560,696
Financing
+€25,441
Cash 2024
€1.3m
From operations (derived)
+€394,823
Net result for the year
+€842,722
Depreciation
+€421,508
Receivables after one year
-€350,000
Stocks and contracts
+€47,567
Receivables within one year
-€496,328
Deferred charges and accrued income
-€146,271
Provisions
-€11,409
Trade debts
+€40,424
Tax, wage and social debts
-€24,889
Advances received
+€126,876
Other debts
-€15,978
Accrued charges and deferred income
-€39,398
Investment (derived)
-€560,696
Investment in fixed assets (net)
-€560,696
Financing
+€25,441
Debts after one year
+€182,146
Current portion of long-term debt
+€82,817
Short-term financial debts
-€179
Contributions, distributions and other
-€239,343
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,405,173 | €7,348,962 | +€943,789 | +14.7% |
| Fixed assets | 21/28 | €1,713,229 | €1,852,417 | +€139,188 | +8.1% |
| Intangible fixed assets | 21 | €11,250 | €6,750 | -€4,500 | -40.0% |
| Tangible fixed assets | 22/27 | €1,701,844 | €1,845,532 | +€143,688 | +8.4% |
| Plant, machinery and equipment | 23 | €135,056 | €264,759 | +€129,704 | +96.0% |
| Furniture and vehicles | 24 | €47,698 | €90,123 | +€42,425 | +88.9% |
| Leasing and similar rights | 25 | €918,909 | €990,437 | +€71,528 | +7.8% |
| Other tangible fixed assets | 26 | €600,181 | €500,213 | -€99,969 | -16.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Other financial fixed assets | 284/8 | €135 | €135 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €4,691,944 | €5,496,545 | +€804,601 | +17.1% |
| Amounts receivable after more than one year | 29 | €125,000 | €475,000 | +€350,000 | +280% |
| Other amounts receivable | 291 | €125,000 | €475,000 | +€350,000 | +280% |
| Stocks and contracts in progress | 3 | €749,624 | €702,057 | -€47,567 | -6.3% |
| Stocks | 30/36 | €749,624 | €702,057 | -€47,567 | -6.3% |
| Raw materials and consumables | 30/31 | €232,396 | €201,709 | -€30,687 | -13.2% |
| Goods purchased for resale | 34 | €125,865 | €108,985 | -€16,879 | -13.4% |
| Property held for sale | 35 | €391,363 | €391,363 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,521,740 | €3,018,069 | +€496,328 | +19.7% |
| Trade receivables | 40 | €1,248,588 | €1,489,346 | +€240,758 | +19.3% |
| Other amounts receivable | 41 | €1,273,152 | €1,528,723 | +€255,571 | +20.1% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,264,923 | €1,124,492 | -€140,432 | -11.1% |
| Deferred charges and accrued income | 490/1 | €30,656 | €176,927 | +€146,271 | +477% |
| Total equity and liabilities | 10/49 | €6,405,173 | €7,348,962 | +€943,789 | +14.7% |
| Equity | 10/15 | €3,732,787 | €4,336,166 | +€603,380 | +16.2% |
| Contributions | 10/11 | €80,573 | €80,573 | = | 0.0% |
| Capital | 10 | €80,573 | €80,573 | = | 0.0% |
| Issued capital | 100 | €80,573 | €80,573 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Reserves | 13 | €1,855,866 | €1,598,106 | -€257,760 | -13.9% |
| Non-distributable reserves | 130/1 | €8,057 | €8,057 | = | 0.0% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Tax-exempt reserves | 132 | €89,732 | €71,315 | -€18,417 | -20.5% |
| Distributable reserves | 133 | €1,758,077 | €1,518,734 | -€239,343 | -13.6% |
| Profit (loss) carried forward | 14 | €1,796,347 | €2,657,487 | +€861,140 | +47.9% |
| Provisions and deferred taxes | 16 | €80,381 | €68,972 | -€11,409 | -14.2% |
| Provisions for liabilities and charges | 160/5 | €50,470 | €45,200 | -€5,270 | -10.4% |
| Pensions and similar obligations | 160 | €50,470 | €45,200 | -€5,270 | -10.4% |
| Deferred taxes | 168 | €29,911 | €23,772 | -€6,139 | -20.5% |
| Amounts payable | 17/49 | €2,592,006 | €2,943,824 | +€351,819 | +13.6% |
| Amounts payable after more than one year | 17 | €793,416 | €975,562 | +€182,146 | +23.0% |
| Financial debts | 170/4 | €793,416 | €975,562 | +€182,146 | +23.0% |
| Leasing and similar obligations | 172 | €754,300 | €808,781 | +€54,482 | +7.2% |
| Credit institutions | 173 | €39,116 | €76,005 | +€36,888 | +94.3% |
| Other loans | 174 | - | €90,776 | +€90,776 | |
| Amounts payable within one year | 42/48 | €1,744,403 | €1,953,473 | +€209,070 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €195,153 | €277,969 | +€82,817 | +42.4% |
| Financial debts | 43 | €50,683 | €50,504 | -€179 | -0.4% |
| Credit institutions | 430/8 | €50,683 | €50,504 | -€179 | -0.4% |
| Trade debts | 44 | €698,931 | €739,355 | +€40,424 | +5.8% |
| Suppliers | 440/4 | €698,931 | €739,355 | +€40,424 | +5.8% |
| Advances received on contracts in progress | 46 | €273,754 | €400,630 | +€126,876 | +46.3% |
| Taxes, remuneration and social security | 45 | €270,561 | €245,671 | -€24,889 | -9.2% |
| Taxes | 450/3 | €113,971 | €65,902 | -€48,069 | -42.2% |
| Remuneration and social security | 454/9 | €156,590 | €179,769 | +€23,180 | +14.8% |
| Other amounts payable | 47/48 | €255,321 | €239,343 | -€15,978 | -6.3% |
| Accrued charges and deferred income | 492/3 | €54,187 | €14,789 | -€39,398 | -72.7% |
| Operating income | 70/76A | €15,436,057 | €15,958,378 | +€522,321 | +3.4% |
| Turnover | 70 | €15,278,154 | €15,821,516 | +€543,362 | +3.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €0 | - | = | |
| Other operating income | 74 | €133,903 | €123,164 | -€10,739 | -8.0% |
| Non-recurring operating income | 76A | €24,000 | €13,698 | -€10,302 | -42.9% |
| Operating charges | 60/66A | €14,152,433 | €14,962,093 | +€809,661 | +5.7% |
| Goods for resale, raw materials and consumables | 60 | €8,646,006 | €9,314,693 | +€668,687 | +7.7% |
| Purchases | 600/8 | €8,891,508 | €9,299,015 | +€407,507 | +4.6% |
| Change in stocks: decrease (increase) | 609 | -€245,503 | €15,678 | +€261,180 | |
| Services and other goods | 61 | €2,172,493 | €2,128,543 | -€43,951 | -2.0% |
| Remuneration, social security and pensions | 62 | €2,856,597 | €3,056,406 | +€199,808 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €377,814 | €421,508 | +€43,694 | +11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,603 | €27,075 | +€1,472 | +5.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,470 | -€5,270 | -€55,740 | |
| Other operating charges | 640/8 | €22,991 | €19,139 | -€3,852 | -16.8% |
| Non-recurring operating charges | 66A | €458 | €0 | -€458 | -100% |
| Operating profit (loss) | 9901 | €1,283,624 | €996,285 | -€287,340 | -22.4% |
| Financial income | 75/76B | €181,347 | €214,200 | +€32,854 | +18.1% |
| Recurring financial income | 75 | €181,347 | €180,645 | -€702 | -0.4% |
| Income from current assets | 751 | €54,012 | €38,103 | -€15,909 | -29.5% |
| Other financial income | 752/9 | €127,335 | €142,542 | +€15,207 | +11.9% |
| Non-recurring financial income | 76B | - | €33,556 | +€33,556 | |
| Financial charges | 65/66B | €60,573 | €57,526 | -€3,047 | -5.0% |
| Recurring financial charges | 65 | €60,573 | €57,526 | -€3,047 | -5.0% |
| Debt charges | 650 | €47,170 | €40,455 | -€6,714 | -14.2% |
| Other financial charges | 652/9 | €13,404 | €17,071 | +€3,667 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €1,404,398 | €1,152,958 | -€251,439 | -17.9% |
| Transfer from deferred taxes | 780 | €6,139 | €6,139 | = | 0.0% |
| Income taxes | 67/77 | €392,505 | €316,375 | -€76,130 | -19.4% |
| Taxes | 670/3 | €392,505 | €318,729 | -€73,775 | -18.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €2,354 | +€2,354 | |
| Profit (loss) for the period | 9904 | €1,018,032 | €842,722 | -€175,309 | -17.2% |
| Transfer from tax-exempt reserves | 789 | €18,417 | €18,417 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,036,449 | €861,140 | -€175,309 | -16.9% |
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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 8 November 2026 via checked.be.