Thijs Van Roey: 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.
Thijs Van Roey
Largest movements
- Receivables within one year -€7,629
down €7,629 (-86.9%), from €8,783 to €1,154
of which Trade receivables: -€6,133
- Cash -€1,461
down €1,461 (-6.1%), from €24,123 to €22,661
mainly Investment in fixed assets (net) (-€13,329) and Net result for the year (-€7,577)
- Profit (loss) carried forward -€7,577
new in 2025: -€7,577
- Debts after one year -€4,887
down €4,887 (-14.1%), from €34,661 to €29,773
- Current portion of long-term debt +€2,353
up €2,353 (+26.4%), from €8,929 to €11,282
- Trade debts +€1,137
up €1,137 (+1,834%), from €62 to €1,199
- Gross operating margin -€37,184
down €37,184 (-80.4%), from €46,274 to €9,090
- Depreciation +€7,840
up €7,840 (+137%), from €5,730 to €13,570
- Taxes -€7,494
no longer reported in 2025 (was €7,494)
- Financial charges +€1,252
up €1,252 (+115%), from €1,085 to €2,336
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 | €85,869 | €76,778 | -€9,090 | -10.6% |
| Fixed assets | 21/28 | €52,502 | €52,261 | -€242 | -0.5% |
| Tangible fixed assets | 22/27 | €52,502 | €52,261 | -€242 | -0.5% |
| Plant, machinery and equipment | 23 | €8,385 | €11,189 | +€2,805 | +33.5% |
| Furniture and vehicles | 24 | €965 | €7,499 | +€6,534 | +677% |
| Leasing and similar rights | 25 | €43,153 | €33,572 | -€9,581 | -22.2% |
| Current assets | 29/58 | €33,366 | €24,518 | -€8,849 | -26.5% |
| Amounts receivable within one year | 40/41 | €8,783 | €1,154 | -€7,629 | -86.9% |
| Trade receivables | 40 | €6,208 | €75 | -€6,133 | -98.8% |
| Other amounts receivable | 41 | €2,575 | €1,079 | -€1,496 | -58.1% |
| Cash at bank and in hand | 54/58 | €24,123 | €22,661 | -€1,461 | -6.1% |
| Deferred charges and accrued income | 490/1 | €461 | €702 | +€242 | +52.5% |
| Total equity and liabilities | 10/49 | €85,869 | €76,778 | -€9,090 | -10.6% |
| Equity | 10/15 | €34,469 | €26,892 | -€7,577 | -22.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €31,469 | €31,469 | = | 0.0% |
| Distributable reserves | 133 | €31,469 | €31,469 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€7,577 | -€7,577 | |
| Amounts payable | 17/49 | €51,399 | €49,886 | -€1,513 | -2.9% |
| Amounts payable after more than one year | 17 | €34,661 | €29,773 | -€4,887 | -14.1% |
| Financial debts | 170/4 | €34,661 | €29,773 | -€4,887 | -14.1% |
| Amounts payable within one year | 42/48 | €16,739 | €20,113 | +€3,374 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €8,929 | €11,282 | +€2,353 | +26.4% |
| Trade debts | 44 | €62 | €1,199 | +€1,137 | +1,834% |
| Suppliers | 440/4 | €62 | €1,199 | +€1,137 | +1,834% |
| Taxes, remuneration and social security | 45 | €7,494 | €7,494 | = | 0.0% |
| Taxes | 450/3 | €7,494 | €7,494 | = | 0.0% |
| Other amounts payable | 47/48 | €253 | €137 | -€116 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,730 | €13,570 | +€7,840 | +137% |
| Other operating charges | 640/8 | €496 | €763 | +€267 | +53.8% |
| Gross operating margin | 9900 | €46,274 | €9,090 | -€37,184 | -80.4% |
| Operating profit (loss) | 9901 | €40,048 | -€5,244 | -€45,292 | |
| Financial income | 75/76B | €0 | €3 | +€3 | +650% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +650% |
| Financial charges | 65/66B | €1,085 | €2,336 | +€1,252 | +115% |
| Recurring financial charges | 65 | €1,085 | €2,336 | +€1,252 | +115% |
| Profit (loss) for the period before taxes | 9903 | €38,964 | -€7,577 | -€46,541 | |
| Income taxes | 67/77 | €7,494 | - | -€7,494 | |
| Profit (loss) for the period | 9904 | €31,469 | -€7,577 | -€39,047 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,469 | -€7,577 | -€39,047 |
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 22 October 2026 via checked.be.