THREADLINE BELGIUM: 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.
What changed
THREADLINE BELGIUM
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€11,622
2024 · €996,376-€1.0m
Equity
€1.7m
2024 · €1.7m-€11,622
Cash
€71,090
2024 · €185,841-€114,751
Balance sheet total
€13.2m
2024 · €14.1m-€961,430
Largest movements
Assets
- Receivables within one year -€848,179
down €848,179 (-27.0%), from €3.1m to €2.3m
of which Trade receivables: -€900,000
Equity and liabilities
- Trade debts -€906,725
down €906,725 (-36.9%), from €2.5m to €1.6m
Income statement
- Gross operating margin -€1.9m
down €1.9m (-92.0%), from €2.0m to €164,380
- Taxes -€373,121
down €373,121, from €373,030 to -€92
- Financial income +€24,019
up €24,019 (+114,377%), from €21 to €24,040
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.
Result 2024
€996,376
Gross operating margin
-€1.9m
Other operating charges
-€173
Other operating items
+€474,341
Financial income
+€24,019
Financial charges
+€4,523
Taxes
+€373,121
Result 2025
-€11,622
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€13,251
Investment
-€1,500
Financing
-€100,000
Cash 2024
€185,841
From operations (derived)
-€13,251
Net result for the year
-€11,622
Receivables within one year
+€848,179
Trade debts
-€906,725
Tax, wage and social debts
-€8,300
Other debts
+€65,217
Investment (derived)
-€1,500
Investment in fixed assets (net)
-€1,500
Financing
-€100,000
Debts after one year
-€100,000
Cash 2025
€71,090
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,136,686 | €13,175,256 | -€961,430 | -6.8% |
| Fixed assets | 21/28 | €10,773,497 | €10,774,997 | +€1,500 | 0.0% |
| Financial fixed assets | 28 | €10,773,497 | €10,774,997 | +€1,500 | 0.0% |
| Current assets | 29/58 | €3,363,189 | €2,400,259 | -€962,930 | -28.6% |
| Stocks and contracts in progress | 3 | €40,000 | €40,000 | = | 0.0% |
| Stocks | 30/36 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,137,348 | €2,289,169 | -€848,179 | -27.0% |
| Trade receivables | 40 | €1,656,883 | €756,883 | -€900,000 | -54.3% |
| Other amounts receivable | 41 | €1,480,465 | €1,532,286 | +€51,821 | +3.5% |
| Cash at bank and in hand | 54/58 | €185,841 | €71,090 | -€114,751 | -61.7% |
| Total equity and liabilities | 10/49 | €14,136,686 | €13,175,256 | -€961,430 | -6.8% |
| Equity | 10/15 | €1,679,039 | €1,667,416 | -€11,622 | -0.7% |
| Contributions | 10/11 | €4,562,000 | €4,562,000 | = | 0.0% |
| Capital | 10 | €4,562,000 | €4,562,000 | = | 0.0% |
| Issued capital | 100 | €4,562,000 | €4,562,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,882,961 | -€2,894,584 | -€11,622 | -0.4% |
| Amounts payable | 17/49 | €12,457,647 | €11,507,840 | -€949,807 | -7.6% |
| Amounts payable after more than one year | 17 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Financial debts | 170/4 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Amounts payable within one year | 42/48 | €12,207,647 | €11,357,840 | -€849,807 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €2,458,470 | €1,551,745 | -€906,725 | -36.9% |
| Suppliers | 440/4 | €2,458,470 | €1,551,745 | -€906,725 | -36.9% |
| Taxes, remuneration and social security | 45 | €381,300 | €373,000 | -€8,300 | -2.2% |
| Taxes | 450/3 | €381,300 | €373,000 | -€8,300 | -2.2% |
| Other amounts payable | 47/48 | €9,267,878 | €9,333,095 | +€65,217 | +0.7% |
| Other operating charges | 640/8 | €203 | €376 | +€173 | +85.2% |
| Non-recurring operating charges | 66A | €474,341 | - | -€474,341 | |
| Gross operating margin | 9900 | €2,048,210 | €164,380 | -€1.9m | -92.0% |
| Operating profit (loss) | 9901 | €1,573,666 | €164,004 | -€1.4m | -89.6% |
| Financial income | 75/76B | €21 | €24,040 | +€24,019 | +114,377% |
| Recurring financial income | 75 | €21 | €24,040 | +€24,019 | +114,377% |
| Financial charges | 65/66B | €204,281 | €199,758 | -€4,523 | -2.2% |
| Recurring financial charges | 65 | €204,281 | €199,758 | -€4,523 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €1,369,406 | -€11,714 | -€1.4m | |
| Income taxes | 67/77 | €373,030 | -€92 | -€373,121 | |
| Profit (loss) for the period | 9904 | €996,376 | -€11,622 | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €996,376 | -€11,622 | -€1.0m |
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 31 October 2026 via checked.be.