THITRELI: what changed
Two fiscal 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.
THITRELI
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€79,071
up €79,071 (+359.1%), from €22,018 to €101,089
mainly Current investments (+€100,000) and Other debts (+€39,644)
- Receivables within one year -€9,326
down €9,326 (-88.9%), from €10,493 to €1,167
- Debts after one year -€44,102
down €44,102 (-21.9%), from €201,561 to €157,459
- Other debts +€39,644
new in 2025: €39,644
- Profit (loss) carried forward -€28,482
down €28,482 (-42.2%), from €67,483 to €39,000
- Depreciation +€11,775
new in 2025: €11,775
- Financial income -€3,930
down €3,930 (-75.9%), from €5,182 to €1,251
- Other operating charges +€2,996
up €2,996 (+592.9%), from €505 to €3,502
- Financial charges +€2,504
up €2,504 (+27.2%), from €9,217 to €11,721
- Gross operating margin -€857
down €857 (-45.6%), from -€1,879 to -€2,736
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.
Cash bridge derived
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 | €505,350 | €477,518 | -€27,832 | -5.5% |
| Fixed assets | 21/28 | €353,640 | €356,028 | +€2,388 | +0.7% |
| Tangible fixed assets | 22/27 | €353,640 | €356,028 | +€2,388 | +0.7% |
| Land and buildings | 22 | €353,640 | €331,413 | -€22,227 | -6.3% |
| Furniture and vehicles | 24 | - | €24,616 | +€24,616 | |
| Current assets | 29/58 | €151,710 | €121,490 | -€30,221 | -19.9% |
| Amounts receivable within one year | 40/41 | €10,493 | €1,167 | -€9,326 | -88.9% |
| Other amounts receivable | 41 | €10,493 | €1,167 | -€9,326 | -88.9% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €22,018 | €101,089 | +€79,071 | +359.1% |
| Deferred charges and accrued income | 490/1 | €19,200 | €19,233 | +€33 | +0.2% |
| Total equity and liabilities | 10/49 | €505,350 | €477,518 | -€27,832 | -5.5% |
| Equity | 10/15 | €262,110 | €233,627 | -€28,482 | -10.9% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €129,627 | €129,627 | = | 0.0% |
| Distributable reserves | 133 | €129,627 | €129,627 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,483 | €39,000 | -€28,482 | -42.2% |
| Amounts payable | 17/49 | €243,241 | €243,891 | +€650 | +0.3% |
| Amounts payable after more than one year | 17 | €201,561 | €157,459 | -€44,102 | -21.9% |
| Financial debts | 170/4 | €201,561 | €157,459 | -€44,102 | -21.9% |
| Amounts payable within one year | 42/48 | €41,680 | €84,646 | +€42,966 | +103.1% |
| Current portion of amounts payable after more than one year | 42 | €41,680 | €44,949 | +€3,269 | +7.8% |
| Trade debts | 44 | - | €53 | +€53 | |
| Suppliers | 440/4 | - | €53 | +€53 | |
| Other amounts payable | 47/48 | - | €39,644 | +€39,644 | |
| Accrued charges and deferred income | 492/3 | - | €1,786 | +€1,786 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €11,775 | +€11,775 | |
| Other operating charges | 640/8 | €505 | €3,502 | +€2,996 | +592.9% |
| Gross operating margin | 9900 | -€1,879 | -€2,736 | -€857 | -45.6% |
| Operating profit (loss) | 9901 | -€2,384 | -€18,012 | -€15,628 | -655.5% |
| Financial income | 75/76B | €5,182 | €1,251 | -€3,930 | -75.9% |
| Recurring financial income | 75 | €5,182 | €1,251 | -€3,930 | -75.9% |
| Financial charges | 65/66B | €9,217 | €11,721 | +€2,504 | +27.2% |
| Recurring financial charges | 65 | €9,217 | €11,721 | +€2,504 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,420 | -€28,482 | -€22,063 | -343.7% |
| Profit (loss) for the period | 9904 | -€6,420 | -€28,482 | -€22,063 | -343.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,420 | -€28,482 | -€22,063 | -343.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.