THIDELEX: 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.
THIDELEX
Largest movements
- Cash +€450,636
up €450,636 (+693%), from €64,987 to €515,623
mainly Net result for the year (+€1.8m) and Debts after one year (+€121,414)
- Tangible fixed assets +€160,499
up €160,499 (+487%), from €32,986 to €193,485
of which Furniture and vehicles: +€156,674
- Reserves +€1.8m
up €1.8m (+52.5%), from €3.4m to €5.2m
of which Distributable reserves: +€1.8m
- Other debts -€1.2m
down €1.2m (-78.4%), from €1.6m to €340,908
- Debts after one year +€121,414
up €121,414, from €0 to €121,414
of which Financial debts: +€121,414
- Financial income -€719,929
down €719,929 (-28.0%), from €2.6m to €1.8m
- Financial charges +€52,409
up €52,409 (+3,129%), from €1,675 to €54,084
- Taxes -€49,398
down €49,398 (-97.2%), from €50,807 to €1,409
- Depreciation +€25,454
up €25,454 (+609%), from €4,179 to €29,633
- Gross operating margin -€11,910
down €11,910 (-18.4%), from €64,880 to €52,969
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 | €5,979,237 | €6,656,733 | +€677,496 | +11.3% |
| Fixed assets | 21/28 | €5,899,396 | €6,059,895 | +€160,499 | +2.7% |
| Tangible fixed assets | 22/27 | €32,986 | €193,485 | +€160,499 | +487% |
| Plant, machinery and equipment | 23 | €4,899 | €6,035 | +€1,136 | +23.2% |
| Furniture and vehicles | 24 | €28,087 | €184,761 | +€156,674 | +558% |
| Other tangible fixed assets | 26 | - | €2,689 | +€2,689 | |
| Financial fixed assets | 28 | €5,866,410 | €5,866,410 | = | 0.0% |
| Current assets | 29/58 | €79,841 | €596,838 | +€516,997 | +648% |
| Amounts receivable within one year | 40/41 | €14,624 | €78,802 | +€64,179 | +439% |
| Trade receivables | 40 | €14,624 | €29,060 | +€14,436 | +98.7% |
| Other amounts receivable | 41 | €0 | €49,742 | +€49,742 | |
| Cash at bank and in hand | 54/58 | €64,987 | €515,623 | +€450,636 | +693% |
| Deferred charges and accrued income | 490/1 | €230 | €2,413 | +€2,183 | +950% |
| Total equity and liabilities | 10/49 | €5,979,237 | €6,656,733 | +€677,496 | +11.3% |
| Equity | 10/15 | €4,323,914 | €6,127,215 | +€1.8m | +41.7% |
| Contributions | 10/11 | €888,000 | €888,000 | = | 0.0% |
| Reserves | 13 | €3,435,914 | €5,239,215 | +€1.8m | +52.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €3,435,914 | €5,239,215 | +€1.8m | +52.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,655,323 | €529,518 | -€1.1m | -68.0% |
| Amounts payable after more than one year | 17 | €0 | €121,414 | +€121,414 | |
| Financial debts | 170/4 | - | €121,414 | +€121,414 | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,655,323 | €407,979 | -€1.2m | -75.4% |
| Current portion of amounts payable after more than one year | 42 | - | €31,204 | +€31,204 | |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €29,935 | €13,223 | -€16,712 | -55.8% |
| Suppliers | 440/4 | €29,935 | €13,223 | -€16,712 | -55.8% |
| Taxes, remuneration and social security | 45 | €49,267 | €22,643 | -€26,624 | -54.0% |
| Taxes | 450/3 | €49,267 | €22,643 | -€26,624 | -54.0% |
| Other amounts payable | 47/48 | €1,576,121 | €340,908 | -€1.2m | -78.4% |
| Accrued charges and deferred income | 492/3 | €0 | €126 | +€126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,179 | €29,633 | +€25,454 | +609% |
| Other operating charges | 640/8 | €8,921 | €13,902 | +€4,980 | +55.8% |
| Gross operating margin | 9900 | €64,880 | €52,969 | -€11,910 | -18.4% |
| Operating profit (loss) | 9901 | €51,779 | €9,435 | -€42,345 | -81.8% |
| Financial income | 75/76B | €2,569,289 | €1,849,360 | -€719,929 | -28.0% |
| Recurring financial income | 75 | €2,569,289 | €1,849,360 | -€719,929 | -28.0% |
| Financial charges | 65/66B | €1,675 | €54,084 | +€52,409 | +3,129% |
| Recurring financial charges | 65 | €1,675 | €54,084 | +€52,409 | +3,129% |
| Profit (loss) for the period before taxes | 9903 | €2,619,393 | €1,804,710 | -€814,683 | -31.1% |
| Income taxes | 67/77 | €50,807 | €1,409 | -€49,398 | -97.2% |
| Profit (loss) for the period | 9904 | €2,568,587 | €1,803,301 | -€765,286 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,568,587 | €1,803,301 | -€765,286 | -29.8% |
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 19 October 2026 via checked.be.