THIEMEN: 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.
THIEMEN
Largest movements
- Tangible fixed assets -€38,082
down €38,082 (-7.3%), from €519,484 to €481,403
- Cash +€18,267
up €18,267 (+217%), from €8,422 to €26,689
mainly Depreciation (+€45,549) and Net result for the year (+€24,475)
- Debts after one year -€32,025
down €32,025 (-16.8%), from €190,659 to €158,635
- Reserves +€24,475
up €24,475 (+7.6%), from €321,493 to €345,968
of which Distributable reserves: +€24,475
- Trade debts +€19,920
up €19,920 (+143%), from €13,900 to €33,820
- Current portion of long-term debt -€17,180
down €17,180 (-26.9%), from €63,913 to €46,732
- Short-term financial debts -€11,907
no longer reported in 2025 (was €11,907)
- Staff costs -€21,991
down €21,991 (-97.4%), from €22,583 to €592
- Gross operating margin -€16,236
down €16,236 (-13.7%), from €118,797 to €102,561
- Depreciation +€3,927
up €3,927 (+9.4%), from €41,622 to €45,549
- Taxes +€3,209
up €3,209 (+26.4%), from €12,146 to €15,355
- Financial charges -€1,255
down €1,255 (-8.6%), from €14,519 to €13,264
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 | €631,524 | €614,226 | -€17,298 | -2.7% |
| Fixed assets | 21/28 | €519,484 | €481,403 | -€38,082 | -7.3% |
| Tangible fixed assets | 22/27 | €519,484 | €481,403 | -€38,082 | -7.3% |
| Land and buildings | 22 | €417,907 | €401,197 | -€16,710 | -4.0% |
| Plant, machinery and equipment | 23 | €41,984 | €36,731 | -€5,253 | -12.5% |
| Furniture and vehicles | 24 | €2,926 | €1,342 | -€1,583 | -54.1% |
| Leasing and similar rights | 25 | €56,667 | €42,132 | -€14,535 | -25.7% |
| Current assets | 29/58 | €112,040 | €132,824 | +€20,784 | +18.6% |
| Stocks and contracts in progress | 3 | €1,883 | €2,632 | +€748 | +39.7% |
| Stocks | 30/36 | €1,883 | €2,632 | +€748 | +39.7% |
| Amounts receivable within one year | 40/41 | €99,421 | €101,987 | +€2,566 | +2.6% |
| Other amounts receivable | 41 | €99,421 | €101,987 | +€2,566 | +2.6% |
| Cash at bank and in hand | 54/58 | €8,422 | €26,689 | +€18,267 | +217% |
| Deferred charges and accrued income | 490/1 | €2,314 | €1,516 | -€798 | -34.5% |
| Total equity and liabilities | 10/49 | €631,524 | €614,226 | -€17,298 | -2.7% |
| Equity | 10/15 | €327,693 | €352,168 | +€24,475 | +7.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €321,493 | €345,968 | +€24,475 | +7.6% |
| Tax-exempt reserves | 132 | €28,464 | €28,464 | = | 0.0% |
| Distributable reserves | 133 | €293,029 | €317,503 | +€24,475 | +8.4% |
| Amounts payable | 17/49 | €303,831 | €262,059 | -€41,773 | -13.7% |
| Amounts payable after more than one year | 17 | €190,659 | €158,635 | -€32,025 | -16.8% |
| Financial debts | 170/4 | €190,659 | €158,635 | -€32,025 | -16.8% |
| Amounts payable within one year | 42/48 | €113,172 | €103,424 | -€9,748 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €63,913 | €46,732 | -€17,180 | -26.9% |
| Financial debts | 43 | €11,907 | - | -€11,907 | |
| Credit institutions | 430/8 | €11,907 | - | -€11,907 | |
| Trade debts | 44 | €13,900 | €33,820 | +€19,920 | +143% |
| Suppliers | 440/4 | €13,900 | €33,820 | +€19,920 | +143% |
| Taxes, remuneration and social security | 45 | €23,451 | €22,871 | -€580 | -2.5% |
| Taxes | 450/3 | €23,451 | €22,871 | -€580 | -2.5% |
| Remuneration, social security and pensions | 62 | €22,583 | €592 | -€21,991 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,622 | €45,549 | +€3,927 | +9.4% |
| Other operating charges | 640/8 | €7,660 | €8,034 | +€374 | +4.9% |
| Gross operating margin | 9900 | €118,797 | €102,561 | -€16,236 | -13.7% |
| Operating profit (loss) | 9901 | €46,932 | €48,386 | +€1,453 | +3.1% |
| Financial income | 75/76B | €4,193 | €4,708 | +€515 | +12.3% |
| Recurring financial income | 75 | €4,193 | €4,708 | +€515 | +12.3% |
| Financial charges | 65/66B | €14,519 | €13,264 | -€1,255 | -8.6% |
| Recurring financial charges | 65 | €14,519 | €13,264 | -€1,255 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €36,606 | €39,829 | +€3,223 | +8.8% |
| Income taxes | 67/77 | €12,146 | €15,355 | +€3,209 | +26.4% |
| Profit (loss) for the period | 9904 | €24,460 | €24,475 | +€14 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,460 | €24,475 | +€14 | +0.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.