ELECTHERM: 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.
ELECTHERM
Largest movements
- Cash +€49,798
up €49,798 (+288.2%), from €17,276 to €67,074
mainly Net result for the year (+€21,898) and Receivables within one year (+€12,125)
- Receivables within one year -€12,125
down €12,125 (-83.9%), from €14,456 to €2,331
of which Trade receivables: -€9,171
- Profit (loss) carried forward +€21,898
up €21,898, from -€19,716 to €2,182
- Tax, wage and social debts +€10,450
up €10,450 (+774.9%), from €1,349 to €11,799
- Trade debts +€4,954
up €4,954 (+197.4%), from €2,510 to €7,464
- Gross operating margin +€34,474
up €34,474 (+1241.8%), from €2,776 to €37,250
- Taxes +€10,355
up €10,355 (+1344.7%), from €770 to €11,125
- Depreciation -€1,638
down €1,638 (-57.1%), from €2,871 to €1,233
- Other operating charges -€710
down €710 (-39.7%), from €1,789 to €1,079
- Financial charges -€629
down €629 (-23.5%), from €2,678 to €2,049
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 | €47,706 | €85,204 | +€37,498 | +78.6% |
| Fixed assets | 21/28 | €1,747 | €1,494 | -€253 | -14.5% |
| Tangible fixed assets | 22/27 | €1,596 | €1,344 | -€253 | -15.8% |
| Plant, machinery and equipment | 23 | €794 | €397 | -€397 | -50.0% |
| Furniture and vehicles | 24 | €802 | €946 | +€144 | +18.0% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €45,959 | €83,710 | +€37,751 | +82.1% |
| Stocks and contracts in progress | 3 | €12,308 | €12,308 | = | 0.0% |
| Stocks | 30/36 | €12,308 | €12,308 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,456 | €2,331 | -€12,125 | -83.9% |
| Trade receivables | 40 | €11,330 | €2,159 | -€9,171 | -80.9% |
| Other amounts receivable | 41 | €3,126 | €172 | -€2,954 | -94.5% |
| Cash at bank and in hand | 54/58 | €17,276 | €67,074 | +€49,798 | +288.2% |
| Deferred charges and accrued income | 490/1 | €1,919 | €1,997 | +€78 | +4.1% |
| Total equity and liabilities | 10/49 | €47,706 | €85,204 | +€37,498 | +78.6% |
| Equity | 10/15 | -€7,316 | €14,582 | +€21,898 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,716 | €2,182 | +€21,898 | |
| Amounts payable | 17/49 | €55,022 | €70,622 | +€15,600 | +28.4% |
| Amounts payable within one year | 42/48 | €55,022 | €70,622 | +€15,600 | +28.4% |
| Trade debts | 44 | €2,510 | €7,464 | +€4,954 | +197.4% |
| Suppliers | 440/4 | €2,510 | €7,464 | +€4,954 | +197.4% |
| Taxes, remuneration and social security | 45 | €1,349 | €11,799 | +€10,450 | +774.9% |
| Taxes | 450/3 | €1,349 | €11,799 | +€10,450 | +774.9% |
| Other amounts payable | 47/48 | €51,163 | €51,359 | +€196 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,871 | €1,233 | -€1,638 | -57.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €398 | - | -€398 | |
| Other operating charges | 640/8 | €1,789 | €1,079 | -€710 | -39.7% |
| Gross operating margin | 9900 | €2,776 | €37,250 | +€34,474 | +1241.8% |
| Operating profit (loss) | 9901 | -€2,282 | €34,938 | +€37,220 | |
| Financial income | 75/76B | €146 | €133 | -€13 | -9.1% |
| Recurring financial income | 75 | €146 | €133 | -€13 | -9.1% |
| Financial charges | 65/66B | €2,678 | €2,049 | -€629 | -23.5% |
| Recurring financial charges | 65 | €2,678 | €2,049 | -€629 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,814 | €33,022 | +€37,836 | |
| Income taxes | 67/77 | €770 | €11,125 | +€10,355 | +1344.7% |
| Profit (loss) for the period | 9904 | -€5,584 | €21,898 | +€27,482 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,584 | €21,898 | +€27,482 |
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 11 October 2026 via checked.be.