EcoThermo: 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.
EcoThermo
Largest movements
- Stocks and contracts -€50,190
no longer reported in 2025 (was €50,190)
of which Contracts in progress: -€46,250
- Receivables within one year +€23,172
up €23,172 (+41.1%), from €56,398 to €79,571
of which Trade receivables: +€30,401
- Cash -€1,720
down €1,720 (-79.1%), from €2,175 to €455
mainly Trade debts (-€47,165) and Receivables within one year (-€23,172)
- Trade debts -€47,165
down €47,165 (-96.4%), from €48,915 to €1,749
- Tax, wage and social debts +€17,696
up €17,696 (+272.0%), from €6,505 to €24,200
- Reserves +€2,515
up €2,515 (+10.6%), from €23,771 to €26,287
- Other debts -€2,000
down €2,000 (-17.9%), from €11,189 to €9,189
- Gross operating margin -€3,315
down €3,315 (-44.8%), from €7,396 to €4,081
- Financial charges -€789
down €789 (-94.8%), from €832 to €43
- Other operating charges -€789
down €789 (-75.2%), from €1,048 to €260
- Taxes -€605
down €605 (-32.4%), from €1,868 to €1,263
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 | €108,980 | €80,026 | -€28,954 | -26.6% |
| Current assets | 29/58 | €108,980 | €80,026 | -€28,954 | -26.6% |
| Stocks and contracts in progress | 3 | €50,190 | - | -€50,190 | |
| Stocks | 30/36 | €3,940 | - | -€3,940 | |
| Contracts in progress | 37 | €46,250 | - | -€46,250 | |
| Amounts receivable within one year | 40/41 | €56,398 | €79,571 | +€23,172 | +41.1% |
| Trade receivables | 40 | €41,976 | €72,377 | +€30,401 | +72.4% |
| Other amounts receivable | 41 | €14,422 | €7,194 | -€7,228 | -50.1% |
| Cash at bank and in hand | 54/58 | €2,175 | €455 | -€1,720 | -79.1% |
| Deferred charges and accrued income | 490/1 | €217 | - | -€217 | |
| Total equity and liabilities | 10/49 | €108,980 | €80,026 | -€28,954 | -26.6% |
| Equity | 10/15 | €42,371 | €44,887 | +€2,515 | +5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,771 | €26,287 | +€2,515 | +10.6% |
| Distributable reserves | 133 | €23,771 | €26,287 | +€2,515 | +10.6% |
| Amounts payable | 17/49 | €66,609 | €35,139 | -€31,470 | -47.2% |
| Amounts payable within one year | 42/48 | €66,609 | €35,139 | -€31,470 | -47.2% |
| Trade debts | 44 | €48,915 | €1,749 | -€47,165 | -96.4% |
| Suppliers | 440/4 | €48,915 | €1,749 | -€47,165 | -96.4% |
| Taxes, remuneration and social security | 45 | €6,505 | €24,200 | +€17,696 | +272.0% |
| Taxes | 450/3 | €6,505 | €24,200 | +€17,696 | +272.0% |
| Other amounts payable | 47/48 | €11,189 | €9,189 | -€2,000 | -17.9% |
| Other operating charges | 640/8 | €1,048 | €260 | -€789 | -75.2% |
| Gross operating margin | 9900 | €7,396 | €4,081 | -€3,315 | -44.8% |
| Operating profit (loss) | 9901 | €6,348 | €3,821 | -€2,527 | -39.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +300.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +300.0% |
| Financial charges | 65/66B | €832 | €43 | -€789 | -94.8% |
| Recurring financial charges | 65 | €832 | €43 | -€789 | -94.8% |
| Profit (loss) for the period before taxes | 9903 | €5,516 | €3,778 | -€1,738 | -31.5% |
| Income taxes | 67/77 | €1,868 | €1,263 | -€605 | -32.4% |
| Profit (loss) for the period | 9904 | €3,648 | €2,515 | -€1,133 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,648 | €2,515 | -€1,133 | -31.1% |
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.