THIERRY BEIRENS MANAGEMENT: what changed
THIERRY BEIRENS MANAGEMENT
Largest movements
- Current investments -€510,000
down €510,000 (-94.8%), from €537,800 to €27,800
- Cash +€293,983
up €293,983 (+756%), from €38,897 to €332,880
mainly Current investments (+€510,000) and Net result for the year (+€134,045)
- Financial fixed assets -€150,000
down €150,000 (-100%), from €150,000 to €0
- Tangible fixed assets +€74,624
up €74,624 (+5.4%), from €1.4m to €1.5m
of which Leasing and similar rights: +€84,145
- Receivables within one year +€25,929
up €25,929 (+39.0%), from €66,467 to €92,396
of which Trade receivables: +€32,191
- Other debts -€491,271
down €491,271 (-56.6%), from €868,011 to €376,740
- Profit (loss) carried forward +€134,045
up €134,045 (+52.8%), from -€253,908 to -€119,863
- Debts after one year +€38,801
up €38,801 (+15.3%), from €254,107 to €292,908
- Accrued charges and deferred income +€25,603
up €25,603 (+315%), from €8,123 to €33,726
- Gross operating margin +€138,788
up €138,788 (+6,818%), from €2,036 to €140,824
- Depreciation -€27,984
down €27,984 (-68.5%), from €40,836 to €12,851
- Taxes +€13,699
up €13,699 (+542%), from €2,526 to €16,225
- Financial income +€8,632
up €8,632 (+35.3%), from €24,421 to €33,053
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,193,595 | €1,923,240 | -€270,354 | -12.3% |
| Fixed assets | 21/28 | €1,530,699 | €1,455,324 | -€75,376 | -4.9% |
| Tangible fixed assets | 22/27 | €1,380,699 | €1,455,324 | +€74,624 | +5.4% |
| Land and buildings | 22 | €1,339,338 | €1,337,996 | -€1,342 | -0.1% |
| Plant, machinery and equipment | 23 | €8,579 | €6,618 | -€1,961 | -22.9% |
| Furniture and vehicles | 24 | €25,243 | €19,026 | -€6,218 | -24.6% |
| Leasing and similar rights | 25 | €7,539 | €91,684 | +€84,145 | +1,116% |
| Financial fixed assets | 28 | €150,000 | €0 | -€150,000 | -100% |
| Current assets | 29/58 | €662,895 | €467,917 | -€194,979 | -29.4% |
| Amounts receivable within one year | 40/41 | €66,467 | €92,396 | +€25,929 | +39.0% |
| Trade receivables | 40 | €43,802 | €75,993 | +€32,191 | +73.5% |
| Other amounts receivable | 41 | €22,665 | €16,403 | -€6,262 | -27.6% |
| Current investments | 50/53 | €537,800 | €27,800 | -€510,000 | -94.8% |
| Cash at bank and in hand | 54/58 | €38,897 | €332,880 | +€293,983 | +756% |
| Deferred charges and accrued income | 490/1 | €19,731 | €14,841 | -€4,890 | -24.8% |
| Total equity and liabilities | 10/49 | €2,193,595 | €1,923,240 | -€270,354 | -12.3% |
| Equity | 10/15 | €1,041,552 | €1,175,597 | +€134,045 | +12.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,276,860 | €1,276,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,275,000 | €1,275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€253,908 | -€119,863 | +€134,045 | +52.8% |
| Amounts payable | 17/49 | €1,152,043 | €747,643 | -€404,400 | -35.1% |
| Amounts payable after more than one year | 17 | €254,107 | €292,908 | +€38,801 | +15.3% |
| Financial debts | 170/4 | €254,107 | €292,908 | +€38,801 | +15.3% |
| Amounts payable within one year | 42/48 | €889,813 | €421,009 | -€468,804 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €14,982 | €27,500 | +€12,519 | +83.6% |
| Trade debts | 44 | €3,430 | €10,044 | +€6,614 | +193% |
| Suppliers | 440/4 | €3,430 | €10,044 | +€6,614 | +193% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,390 | €6,724 | +€3,334 | +98.3% |
| Taxes | 450/3 | €3,390 | €6,724 | +€3,334 | +98.3% |
| Other amounts payable | 47/48 | €868,011 | €376,740 | -€491,271 | -56.6% |
| Accrued charges and deferred income | 492/3 | €8,123 | €33,726 | +€25,603 | +315% |
| Non-recurring operating income | 76A | - | €16,792 | +€16,792 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,836 | €12,851 | -€27,984 | -68.5% |
| Other operating charges | 640/8 | €2,334 | €1,385 | -€949 | -40.6% |
| Gross operating margin | 9900 | €2,036 | €140,824 | +€138,788 | +6,818% |
| Operating profit (loss) | 9901 | -€41,134 | €126,587 | +€167,721 | |
| Financial income | 75/76B | €24,421 | €33,053 | +€8,632 | +35.3% |
| Recurring financial income | 75 | €24,421 | €33,053 | +€8,632 | +35.3% |
| Financial charges | 65/66B | €8,517 | €9,370 | +€852 | +10.0% |
| Recurring financial charges | 65 | €8,517 | €9,370 | +€852 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,230 | €150,271 | +€175,501 | |
| Income taxes | 67/77 | €2,526 | €16,225 | +€13,699 | +542% |
| Profit (loss) for the period | 9904 | -€27,756 | €134,045 | +€161,802 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,756 | €134,045 | +€161,802 |
Next steps
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 3 November 2026 via checked.be.