Thierry Abbeloos Management: 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.
Thierry Abbeloos Management
Largest movements
- Financial fixed assets +€140,487
up €140,487 (+94,286%), from €149 to €140,636
- Current investments -€64,390
no longer reported in 2025 (was €64,390)
- Receivables after one year -€48,000
no longer reported in 2025 (was €48,000)
- Cash -€45,455
down €45,455 (-58.9%), from €77,222 to €31,767
mainly Investment in fixed assets (net) (-€150,921) and Contributions, distributions and other (-€126,969)
- Receivables within one year -€32,261
down €32,261 (-98.0%), from €32,916 to €655
of which Other amounts receivable: -€22,476
- Reserves -€77,075
down €77,075 (-37.1%), from €207,599 to €130,525
- Other debts +€29,411
up €29,411 (+10,062%), from €292 to €29,703
- Tax, wage and social debts +€4,458
up €4,458 (+38.2%), from €11,675 to €16,133
- Taxes +€5,299
up €5,299 (+24.9%), from €21,281 to €26,580
- Financial income +€1,764
up €1,764 (+86.1%), from €2,048 to €3,812
- Gross operating margin +€1,024
up €1,024 (+1.2%), from €83,132 to €84,156
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 | €235,144 | €191,191 | -€43,953 | -18.7% |
| Fixed assets | 21/28 | €10,641 | €155,231 | +€144,591 | +1,359% |
| Tangible fixed assets | 22/27 | €10,492 | €14,596 | +€4,104 | +39.1% |
| Plant, machinery and equipment | 23 | €3,954 | €4,746 | +€792 | +20.0% |
| Furniture and vehicles | 24 | €6,537 | €9,849 | +€3,312 | +50.7% |
| Financial fixed assets | 28 | €149 | €140,636 | +€140,487 | +94,286% |
| Current assets | 29/58 | €224,503 | €35,959 | -€188,544 | -84.0% |
| Amounts receivable after more than one year | 29 | €48,000 | - | -€48,000 | |
| Other amounts receivable | 291 | €48,000 | - | -€48,000 | |
| Amounts receivable within one year | 40/41 | €32,916 | €655 | -€32,261 | -98.0% |
| Trade receivables | 40 | €9,785 | - | -€9,785 | |
| Other amounts receivable | 41 | €23,131 | €655 | -€22,476 | -97.2% |
| Current investments | 50/53 | €64,390 | - | -€64,390 | |
| Cash at bank and in hand | 54/58 | €77,222 | €31,767 | -€45,455 | -58.9% |
| Deferred charges and accrued income | 490/1 | €1,976 | €3,537 | +€1,562 | +79.0% |
| Total equity and liabilities | 10/49 | €235,144 | €191,191 | -€43,953 | -18.7% |
| Equity | 10/15 | €215,659 | €138,585 | -€77,075 | -35.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €207,599 | €130,525 | -€77,075 | -37.1% |
| Distributable reserves | 133 | €207,599 | €130,525 | -€77,075 | -37.1% |
| Amounts payable | 17/49 | €19,485 | €52,606 | +€33,121 | +170% |
| Amounts payable within one year | 42/48 | €19,485 | €52,606 | +€33,121 | +170% |
| Current portion of amounts payable after more than one year | 42 | €6,333 | €6,333 | = | 0.0% |
| Trade debts | 44 | €1,184 | €437 | -€748 | -63.1% |
| Suppliers | 440/4 | €1,184 | €437 | -€748 | -63.1% |
| Taxes, remuneration and social security | 45 | €11,675 | €16,133 | +€4,458 | +38.2% |
| Taxes | 450/3 | €11,675 | €16,133 | +€4,458 | +38.2% |
| Other amounts payable | 47/48 | €292 | €29,703 | +€29,411 | +10,062% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,894 | €6,330 | +€436 | +7.4% |
| Other operating charges | 640/8 | €881 | €501 | -€381 | -43.2% |
| Gross operating margin | 9900 | €83,132 | €84,156 | +€1,024 | +1.2% |
| Operating profit (loss) | 9901 | €76,357 | €77,325 | +€968 | +1.3% |
| Financial income | 75/76B | €2,048 | €3,812 | +€1,764 | +86.1% |
| Recurring financial income | 75 | €2,048 | €3,812 | +€1,764 | +86.1% |
| Financial charges | 65/66B | €5,311 | €4,662 | -€649 | -12.2% |
| Recurring financial charges | 65 | €5,311 | €4,662 | -€649 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €73,094 | €76,475 | +€3,381 | +4.6% |
| Income taxes | 67/77 | €21,281 | €26,580 | +€5,299 | +24.9% |
| Profit (loss) for the period | 9904 | €51,813 | €49,895 | -€1,918 | -3.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,813 | €49,895 | -€1,918 | -3.7% |
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 21 October 2026 via checked.be.