AquaThermo: 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.
AquaThermo
Largest movements
- Cash +€35,543
up €35,543 (+36.1%), from €98,542 to €134,084
mainly Receivables within one year (+€11,656) and Net result for the year (+€8,911)
- Receivables within one year -€11,656
down €11,656 (-45.7%), from €25,481 to €13,825
of which Trade receivables: -€8,786
- Deferred charges and accrued income -€6,352
down €6,352 (-48.5%), from €13,086 to €6,733
- Stocks and contracts -€6,126
down €6,126 (-30.1%), from €20,351 to €14,226
- Tangible fixed assets -€3,227
down €3,227 (-72.4%), from €4,460 to €1,233
of which Furniture and vehicles: -€2,612
- Profit (loss) carried forward +€8,911
up €8,911 (+5.7%), from €155,379 to €164,290
- Gross operating margin -€17,378
down €17,378 (-54.7%), from €31,756 to €14,378
- Taxes -€3,372
down €3,372 (-57.2%), from €5,889 to €2,518
- Financial charges +€342
up €342 (+57.6%), from €593 to €935
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 | €161,919 | €170,101 | +€8,182 | +5.1% |
| Fixed assets | 21/28 | €4,460 | €1,233 | -€3,227 | -72.4% |
| Tangible fixed assets | 22/27 | €4,460 | €1,233 | -€3,227 | -72.4% |
| Plant, machinery and equipment | 23 | €1,848 | €1,233 | -€615 | -33.3% |
| Furniture and vehicles | 24 | €2,612 | - | -€2,612 | |
| Current assets | 29/58 | €157,459 | €168,868 | +€11,409 | +7.2% |
| Stocks and contracts in progress | 3 | €20,351 | €14,226 | -€6,126 | -30.1% |
| Stocks | 30/36 | €20,351 | €14,226 | -€6,126 | -30.1% |
| Amounts receivable within one year | 40/41 | €25,481 | €13,825 | -€11,656 | -45.7% |
| Trade receivables | 40 | €15,778 | €6,992 | -€8,786 | -55.7% |
| Other amounts receivable | 41 | €9,703 | €6,833 | -€2,869 | -29.6% |
| Cash at bank and in hand | 54/58 | €98,542 | €134,084 | +€35,543 | +36.1% |
| Deferred charges and accrued income | 490/1 | €13,086 | €6,733 | -€6,352 | -48.5% |
| Total equity and liabilities | 10/49 | €161,919 | €170,101 | +€8,182 | +5.1% |
| Equity | 10/15 | €157,379 | €166,290 | +€8,911 | +5.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,379 | €164,290 | +€8,911 | +5.7% |
| Amounts payable | 17/49 | €4,541 | €3,812 | -€729 | -16.1% |
| Amounts payable within one year | 42/48 | €4,541 | €3,812 | -€729 | -16.1% |
| Trade debts | 44 | €2,566 | €1,837 | -€729 | -28.4% |
| Suppliers | 440/4 | €2,566 | €1,837 | -€729 | -28.4% |
| Taxes, remuneration and social security | 45 | €1,975 | €1,975 | = | 0.0% |
| Taxes | 450/3 | €1,975 | €1,975 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,379 | €3,227 | -€152 | -4.5% |
| Other operating charges | 640/8 | €406 | €279 | -€127 | -31.3% |
| Gross operating margin | 9900 | €31,756 | €14,378 | -€17,378 | -54.7% |
| Operating profit (loss) | 9901 | €27,970 | €10,872 | -€17,098 | -61.1% |
| Financial income | 75/76B | €1,543 | €1,492 | -€52 | -3.4% |
| Recurring financial income | 75 | €1,543 | €1,492 | -€52 | -3.4% |
| Financial charges | 65/66B | €593 | €935 | +€342 | +57.6% |
| Recurring financial charges | 65 | €593 | €935 | +€342 | +57.6% |
| Profit (loss) for the period before taxes | 9903 | €28,921 | €11,429 | -€17,492 | -60.5% |
| Income taxes | 67/77 | €5,889 | €2,518 | -€3,372 | -57.2% |
| Profit (loss) for the period | 9904 | €23,031 | €8,911 | -€14,120 | -61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,031 | €8,911 | -€14,120 | -61.3% |
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 7 October 2026 via checked.be.