Geothermal Innovation & Services: what changed
What changed
Geothermal Innovation & Services
NACE 35.300, Electricity, gas, steam and air conditioning supply
filed annual accounts (NBB)
Net result for the year
€22,292
2024 · €26,950-€4,658
Equity
€372,953
2024 · €350,661+€22,292
Cash
€381,151
2024 · €257,062+€124,089
Balance sheet total
€1.3m
2024 · €1.2m+€69,231
Largest movements
Assets
- Cash +€124,089
up €124,089 (+48.3%), from €257,062 to €381,151
mainly Depreciation (+€51,351) and Trade debts (+€33,397)
- Intangible fixed assets -€51,351
down €51,351 (-5.6%), from €909,013 to €857,661
- Deferred charges and accrued income -€13,061
down €13,061 (-83.1%), from €15,719 to €2,658
Equity and liabilities
- Trade debts +€33,397
up €33,397 (+87.2%), from €38,318 to €71,715
- Profit (loss) carried forward +€21,178
up €21,178 (+44.0%), from €48,127 to €69,305
- Accrued charges and deferred income +€15,886
up €15,886 (+11.8%), from €134,482 to €150,368
Income statement
- Gross operating margin -€42,967
down €42,967 (-25.2%), from €170,181 to €127,215
- Financial charges -€35,576
down €35,576 (-43.5%), from €81,784 to €46,208
- Taxes -€2,732
down €2,732 (-27.1%), from €10,095 to €7,363
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€26,950
Gross operating margin
-€42,967
Financial charges
+€35,576
Taxes
+€2,732
Result 2025
€22,292
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€127,031
Investment
€0
Financing
-€2,942
Cash 2024
€257,062
From operations (derived)
+€127,031
Net result for the year
+€22,292
Depreciation
+€51,351
Receivables within one year
-€9,554
Deferred charges and accrued income
+€13,061
Trade debts
+€33,397
Tax, wage and social debts
+€597
Accrued charges and deferred income
+€15,886
Financing
-€2,942
Current portion of long-term debt
-€2,942
Cash 2025
€381,151
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,193,933 | €1,263,164 | +€69,231 | +5.8% |
| Fixed assets | 21/28 | €909,013 | €857,661 | -€51,351 | -5.6% |
| Intangible fixed assets | 21 | €909,013 | €857,661 | -€51,351 | -5.6% |
| Current assets | 29/58 | €284,921 | €405,503 | +€120,582 | +42.3% |
| Amounts receivable within one year | 40/41 | €12,139 | €21,693 | +€9,554 | +78.7% |
| Trade receivables | 40 | €12,139 | €21,693 | +€9,554 | +78.7% |
| Cash at bank and in hand | 54/58 | €257,062 | €381,151 | +€124,089 | +48.3% |
| Deferred charges and accrued income | 490/1 | €15,719 | €2,658 | -€13,061 | -83.1% |
| Total equity and liabilities | 10/49 | €1,193,933 | €1,263,164 | +€69,231 | +5.8% |
| Equity | 10/15 | €350,661 | €372,953 | +€22,292 | +6.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €510,000 | €510,000 | = | 0.0% |
| Uncalled capital | 101 | €210,000 | €210,000 | = | 0.0% |
| Reserves | 13 | €2,533 | €3,648 | +€1,115 | +44.0% |
| Non-distributable reserves | 130/1 | €2,533 | €3,648 | +€1,115 | +44.0% |
| Legal reserve | 130 | €2,533 | €3,648 | +€1,115 | +44.0% |
| Profit (loss) carried forward | 14 | €48,127 | €69,305 | +€21,178 | +44.0% |
| Amounts payable | 17/49 | €843,273 | €890,211 | +€46,939 | +5.6% |
| Amounts payable after more than one year | 17 | €600,000 | €600,000 | = | 0.0% |
| Other amounts payable | 178/9 | €600,000 | €600,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €108,791 | €139,843 | +€31,053 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €37,571 | €34,629 | -€2,942 | -7.8% |
| Trade debts | 44 | €38,318 | €71,715 | +€33,397 | +87.2% |
| Suppliers | 440/4 | €38,318 | €71,715 | +€33,397 | +87.2% |
| Taxes, remuneration and social security | 45 | €32,902 | €33,499 | +€597 | +1.8% |
| Taxes | 450/3 | €32,902 | €33,499 | +€597 | +1.8% |
| Accrued charges and deferred income | 492/3 | €134,482 | €150,368 | +€15,886 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,351 | €51,351 | = | 0.0% |
| Gross operating margin | 9900 | €170,181 | €127,215 | -€42,967 | -25.2% |
| Operating profit (loss) | 9901 | €118,830 | €75,863 | -€42,967 | -36.2% |
| Financial charges | 65/66B | €81,784 | €46,208 | -€35,576 | -43.5% |
| Recurring financial charges | 65 | €81,784 | €46,208 | -€35,576 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €37,045 | €29,655 | -€7,390 | -19.9% |
| Income taxes | 67/77 | €10,095 | €7,363 | -€2,732 | -27.1% |
| Profit (loss) for the period | 9904 | €26,950 | €22,292 | -€4,658 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,950 | €22,292 | -€4,658 | -17.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.