Exotherm: 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.
Exotherm
Largest movements
- Receivables within one year +€109,110
up €109,110 (+144%), from €75,745 to €184,855
of which Trade receivables: +€111,465
- Cash -€10,690
down €10,690 (-35.2%), from €30,341 to €19,651
mainly Receivables within one year (-€109,110) and Contributions, distributions and other (-€85,443)
- Deferred charges and accrued income +€8,287
new in 2025: €8,287
- Tangible fixed assets -€2,881
down €2,881 (-80.6%), from €3,574 to €692
- Other debts +€71,554
up €71,554 (+1,050%), from €6,813 to €78,368
- Trade debts +€25,964
up €25,964 (+61.6%), from €42,115 to €68,078
- Tax, wage and social debts +€13,203
up €13,203 (+93.9%), from €14,062 to €27,266
of which Taxes: +€13,041
- Profit (loss) carried forward -€8,896
down €8,896 (-18.9%), from €47,169 to €38,274
- Gross operating margin +€52,574
up €52,574 (+102%), from €51,530 to €104,104
- Taxes +€11,711
up €11,711 (+130%), from €9,011 to €20,722
- Write-downs -€5,350
no longer reported in 2025 (was €5,350)
- Staff costs +€3,427
new in 2025: €3,427
- Financial charges +€1,689
up €1,689 (+722%), from €234 to €1,923
of which Financial charges: +€1,696
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 | €117,160 | €219,486 | +€102,326 | +87.3% |
| Fixed assets | 21/28 | €5,074 | €2,192 | -€2,881 | -56.8% |
| Tangible fixed assets | 22/27 | €3,574 | €692 | -€2,881 | -80.6% |
| Furniture and vehicles | 24 | €3,574 | €692 | -€2,881 | -80.6% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €112,086 | €217,293 | +€105,207 | +93.9% |
| Stocks and contracts in progress | 3 | €6,000 | €4,500 | -€1,500 | -25.0% |
| Stocks | 30/36 | €6,000 | €4,500 | -€1,500 | -25.0% |
| Amounts receivable within one year | 40/41 | €75,745 | €184,855 | +€109,110 | +144% |
| Trade receivables | 40 | €51,437 | €162,902 | +€111,465 | +217% |
| Other amounts receivable | 41 | €24,308 | €21,952 | -€2,355 | -9.7% |
| Cash at bank and in hand | 54/58 | €30,341 | €19,651 | -€10,690 | -35.2% |
| Deferred charges and accrued income | 490/1 | - | €8,287 | +€8,287 | |
| Total equity and liabilities | 10/49 | €117,160 | €219,486 | +€102,326 | +87.3% |
| Equity | 10/15 | €54,169 | €45,274 | -€8,896 | -16.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,169 | €38,274 | -€8,896 | -18.9% |
| Amounts payable | 17/49 | €62,991 | €174,212 | +€111,221 | +177% |
| Amounts payable within one year | 42/48 | €62,991 | €173,712 | +€110,721 | +176% |
| Trade debts | 44 | €42,115 | €68,078 | +€25,964 | +61.6% |
| Suppliers | 440/4 | €42,115 | €68,078 | +€25,964 | +61.6% |
| Taxes, remuneration and social security | 45 | €14,062 | €27,266 | +€13,203 | +93.9% |
| Taxes | 450/3 | €12,192 | €25,233 | +€13,041 | +107% |
| Remuneration and social security | 454/9 | €1,870 | €2,033 | +€162 | +8.7% |
| Other amounts payable | 47/48 | €6,813 | €78,368 | +€71,554 | +1,050% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | - | €3,427 | +€3,427 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,308 | €667 | -€1,641 | -71.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,350 | - | -€5,350 | |
| Other operating charges | 640/8 | €119 | €820 | +€701 | +587% |
| Gross operating margin | 9900 | €51,530 | €104,104 | +€52,574 | +102% |
| Operating profit (loss) | 9901 | €43,753 | €99,190 | +€55,437 | +127% |
| Financial income | 75/76B | €36 | €2 | -€34 | -94.4% |
| Recurring financial income | 75 | €36 | €2 | -€34 | -94.4% |
| Non-recurring financial income | 76B | €36 | €2 | -€34 | -94.4% |
| Financial charges | 65/66B | €234 | €1,923 | +€1,689 | +722% |
| Recurring financial charges | 65 | €226 | €1,922 | +€1,696 | +750% |
| Non-recurring financial charges | 66B | €8 | €1 | -€7 | -87.4% |
| Profit (loss) for the period before taxes | 9903 | €43,554 | €97,270 | +€53,715 | +123% |
| Income taxes | 67/77 | €9,011 | €20,722 | +€11,711 | +130% |
| Profit (loss) for the period | 9904 | €34,544 | €76,547 | +€42,004 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €34,544 | €76,547 | +€42,004 | +122% |
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 21 October 2026 via checked.be.