Van Thielen: 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.
Van Thielen
Largest movements
- Tangible fixed assets -€85,603
down €85,603 (-25.7%), from €332,659 to €247,055
of which Land and buildings: -€103,072
- Cash -€13,520
down €13,520 (-42.4%), from €31,879 to €18,359
mainly Contributions, distributions and other (-€252,550) and Other debts (-€3,811)
- Contributions -€242,550
down €242,550 (-89.1%), from €272,092 to €29,542
- Reserves +€79,920
up €79,920 (+255%), from €31,374 to €111,293
- Profit (loss) carried forward +€56,673
up €56,673, from -€56,673 to €0
- Tax, wage and social debts +€9,447
up €9,447 (+341%), from €2,772 to €12,219
of which Taxes: +€7,633
- Other debts -€3,811
down €3,811 (-3.3%), from €115,448 to €111,637
- Gross operating margin +€143,764
up €143,764 (+319%), from €45,003 to €188,767
- Taxes +€32,084
up €32,084 (+22,996%), from €140 to €32,224
- Depreciation -€12,631
down €12,631 (-76.6%), from €16,494 to €3,863
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 | €365,217 | €265,961 | -€99,256 | -27.2% |
| Fixed assets | 21/28 | €332,659 | €247,055 | -€85,603 | -25.7% |
| Tangible fixed assets | 22/27 | €332,659 | €247,055 | -€85,603 | -25.7% |
| Land and buildings | 22 | €320,357 | €217,285 | -€103,072 | -32.2% |
| Furniture and vehicles | 24 | €12,301 | €29,770 | +€17,469 | +142% |
| Current assets | 29/58 | €32,559 | €18,905 | -€13,653 | -41.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €31,879 | €18,359 | -€13,520 | -42.4% |
| Deferred charges and accrued income | 490/1 | €680 | €547 | -€133 | -19.5% |
| Total equity and liabilities | 10/49 | €365,217 | €265,961 | -€99,256 | -27.2% |
| Equity | 10/15 | €246,793 | €140,835 | -€105,957 | -42.9% |
| Contributions | 10/11 | €272,092 | €29,542 | -€242,550 | -89.1% |
| Reserves | 13 | €31,374 | €111,293 | +€79,920 | +255% |
| Distributable reserves | 133 | €31,374 | €111,293 | +€79,920 | +255% |
| Profit (loss) carried forward | 14 | -€56,673 | €0 | +€56,673 | |
| Amounts payable | 17/49 | €118,425 | €125,125 | +€6,701 | +5.7% |
| Amounts payable within one year | 42/48 | €118,425 | €125,125 | +€6,701 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €205 | €1,269 | +€1,064 | +520% |
| Suppliers | 440/4 | €205 | €1,269 | +€1,064 | +520% |
| Taxes, remuneration and social security | 45 | €2,772 | €12,219 | +€9,447 | +341% |
| Taxes | 450/3 | €2,772 | €10,405 | +€7,633 | +275% |
| Remuneration and social security | 454/9 | - | €1,814 | +€1,814 | |
| Other amounts payable | 47/48 | €115,448 | €111,637 | -€3,811 | -3.3% |
| Non-recurring operating income | 76A | €12,917 | €146,695 | +€133,778 | +1,036% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,494 | €3,863 | -€12,631 | -76.6% |
| Other operating charges | 640/8 | €4,906 | €5,369 | +€464 | +9.4% |
| Non-recurring operating charges | 66A | €852 | €0 | -€852 | -100% |
| Gross operating margin | 9900 | €45,003 | €188,767 | +€143,764 | +319% |
| Operating profit (loss) | 9901 | €22,752 | €179,534 | +€156,782 | +689% |
| Financial income | 75/76B | €19 | €0 | -€19 | -100% |
| Recurring financial income | 75 | €19 | €0 | -€19 | -100% |
| Financial charges | 65/66B | €290 | €718 | +€428 | +148% |
| Recurring financial charges | 65 | €290 | €718 | +€428 | +148% |
| Profit (loss) for the period before taxes | 9903 | €22,481 | €178,816 | +€156,336 | +695% |
| Income taxes | 67/77 | €140 | €32,224 | +€32,084 | +22,996% |
| Profit (loss) for the period | 9904 | €22,341 | €146,593 | +€124,252 | +556% |
| Profit (loss) for the period to be appropriated | 9905 | €22,341 | €146,593 | +€124,252 | +556% |
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 18 October 2026 via checked.be.