THIELEMANS TECHNICS: what changed
What changed
THIELEMANS TECHNICS
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€13,362
2024 · -€2,643+€16,005
Equity
€300,016
2024 · €286,653+€13,362
Cash
€26,914
2024 · €25,058+€1,856
Balance sheet total
€880,092
2024 · €948,276-€68,184
Largest movements
Assets
- Stocks and contracts -€46,428
down €46,428 (-29.1%), from €159,729 to €113,301
of which Contracts in progress: -€47,351
- Tangible fixed assets -€39,697
down €39,697 (-12.0%), from €330,714 to €291,017
- Receivables within one year +€19,982
up €19,982 (+4.8%), from €416,960 to €436,942
of which Other amounts receivable: +€126,650
Equity and liabilities
- Trade debts -€58,276
down €58,276 (-64.3%), from €90,664 to €32,388
- Debts after one year -€29,500
down €29,500 (-13.0%), from €226,856 to €197,356
- Reserves +€10,719
up €10,719 (+4.0%), from €270,696 to €281,416
of which Distributable reserves: +€10,719
Income statement
- Staff costs -€32,114
down €32,114 (-10.0%), from €321,517 to €289,402
- Gross operating margin -€11,799
down €11,799 (-3.1%), from €379,611 to €367,812
- Taxes +€4,576
up €4,576 (+94.1%), from €4,861 to €9,437
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
-€2,643
Gross operating margin
-€11,799
Staff costs
+€32,114
Depreciation
+€978
Other operating charges
+€752
Financial income
-€144
Financial charges
-€1,319
Taxes
-€4,576
Result 2025
€13,362
raises the resultlowers the result
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
+€34,800
Investment
-€4,462
Financing
-€28,483
Cash 2024
€25,058
From operations (derived)
+€34,800
Net result for the year
+€13,362
Depreciation
+€44,159
Stocks and contracts
+€46,428
Receivables within one year
-€19,982
Deferred charges and accrued income
+€3,896
Trade debts
-€58,276
Tax, wage and social debts
+€29
Other debts
+€5,184
Investment (derived)
-€4,462
Investment in fixed assets (net)
-€4,462
Financing
-€28,483
Debts after one year
-€29,500
Current portion of long-term debt
-€2,348
Short-term financial debts
+€3,365
Cash 2025
€26,914
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €948,276 | €880,092 | -€68,184 | -7.2% |
| Fixed assets | 21/28 | €330,714 | €291,017 | -€39,697 | -12.0% |
| Tangible fixed assets | 22/27 | €330,714 | €291,017 | -€39,697 | -12.0% |
| Land and buildings | 22 | €252,916 | €237,497 | -€15,419 | -6.1% |
| Plant, machinery and equipment | 23 | €29,230 | €17,713 | -€11,516 | -39.4% |
| Furniture and vehicles | 24 | €48,568 | €35,807 | -€12,762 | -26.3% |
| Current assets | 29/58 | €617,563 | €589,075 | -€28,487 | -4.6% |
| Stocks and contracts in progress | 3 | €159,729 | €113,301 | -€46,428 | -29.1% |
| Stocks | 30/36 | €9,729 | €10,652 | +€923 | +9.5% |
| Contracts in progress | 37 | €150,000 | €102,649 | -€47,351 | -31.6% |
| Amounts receivable within one year | 40/41 | €416,960 | €436,942 | +€19,982 | +4.8% |
| Trade receivables | 40 | €211,502 | €104,834 | -€106,668 | -50.4% |
| Other amounts receivable | 41 | €205,458 | €332,108 | +€126,650 | +61.6% |
| Cash at bank and in hand | 54/58 | €25,058 | €26,914 | +€1,856 | +7.4% |
| Deferred charges and accrued income | 490/1 | €15,815 | €11,919 | -€3,896 | -24.6% |
| Total equity and liabilities | 10/49 | €948,276 | €880,092 | -€68,184 | -7.2% |
| Equity | 10/15 | €286,653 | €300,016 | +€13,362 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €270,696 | €281,416 | +€10,719 | +4.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €270,696 | €281,416 | +€10,719 | +4.0% |
| Profit (loss) carried forward | 14 | -€2,643 | €0 | +€2,643 | |
| Amounts payable | 17/49 | €661,623 | €580,077 | -€81,546 | -12.3% |
| Amounts payable after more than one year | 17 | €226,856 | €197,356 | -€29,500 | -13.0% |
| Financial debts | 170/4 | €226,856 | €197,356 | -€29,500 | -13.0% |
| Amounts payable within one year | 42/48 | €434,767 | €382,720 | -€52,047 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €31,848 | €29,500 | -€2,348 | -7.4% |
| Financial debts | 43 | €0 | €3,365 | +€3,365 | |
| Credit institutions | 430/8 | €0 | €3,365 | +€3,365 | |
| Trade debts | 44 | €90,664 | €32,388 | -€58,276 | -64.3% |
| Suppliers | 440/4 | €90,664 | €32,388 | -€58,276 | -64.3% |
| Taxes, remuneration and social security | 45 | €36,778 | €36,807 | +€29 | +0.1% |
| Taxes | 450/3 | €3,310 | €4,861 | +€1,551 | +46.9% |
| Remuneration and social security | 454/9 | €33,469 | €31,946 | -€1,522 | -4.5% |
| Other amounts payable | 47/48 | €275,477 | €280,661 | +€5,184 | +1.9% |
| Remuneration, social security and pensions | 62 | €321,517 | €289,402 | -€32,114 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,137 | €44,159 | -€978 | -2.2% |
| Other operating charges | 640/8 | €2,720 | €1,968 | -€752 | -27.6% |
| Gross operating margin | 9900 | €379,611 | €367,812 | -€11,799 | -3.1% |
| Operating profit (loss) | 9901 | €10,238 | €32,283 | +€22,045 | +215% |
| Financial income | 75/76B | €359 | €215 | -€144 | -40.2% |
| Recurring financial income | 75 | €359 | €215 | -€144 | -40.2% |
| Financial charges | 65/66B | €8,380 | €9,699 | +€1,319 | +15.7% |
| Recurring financial charges | 65 | €8,380 | €9,699 | +€1,319 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €2,218 | €22,799 | +€20,581 | +928% |
| Income taxes | 67/77 | €4,861 | €9,437 | +€4,576 | +94.1% |
| Profit (loss) for the period | 9904 | -€2,643 | €13,362 | +€16,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,643 | €13,362 | +€16,005 |
Next steps
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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 2 November 2026 via checked.be.