HC Thermique: what changed
HC Thermique
Largest movements
- Receivables within one year -€30,285
down €30,285 (-47.9%), from €63,187 to €32,902
of which Trade receivables: -€21,690
- Tangible fixed assets -€28,318
down €28,318 (-22.5%), from €125,778 to €97,460
of which Furniture and vehicles: -€18,020
- Stocks and contracts -€4,340
down €4,340 (-23.0%), from €18,840 to €14,500
- Cash +€3,716
up €3,716 (+121%), from €3,083 to €6,798
mainly Receivables within one year (+€30,285) and Depreciation (+€28,318)
- Profit (loss) carried forward -€21,140
down €21,140 (-73.8%), from €28,645 to €7,505
- Debts after one year -€19,003
down €19,003 (-14.9%), from €127,736 to €108,734
- Trade debts -€10,472
down €10,472 (-52.4%), from €19,985 to €9,512
- Current portion of long-term debt -€6,787
down €6,787 (-26.3%), from €25,789 to €19,003
- Purchases and services -€46,728
down €46,728 (-16.3%), from €287,023 to €240,295
- Gross operating margin -€8,917
down €8,917 (-21.0%), from €42,432 to €33,515
- Staff costs +€7,472
up €7,472 (+65.0%), from €11,504 to €18,975
- Depreciation +€4,601
up €4,601 (+19.4%), from €23,717 to €28,318
- Other operating charges +€1,825
up €1,825 (+220%), from €831 to €2,656
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,888 | €151,660 | -€59,227 | -28.1% |
| Fixed assets | 21/28 | €125,778 | €97,460 | -€28,318 | -22.5% |
| Tangible fixed assets | 22/27 | €125,778 | €97,460 | -€28,318 | -22.5% |
| Land and buildings | 22 | €65,978 | €58,882 | -€7,096 | -10.8% |
| Plant, machinery and equipment | 23 | €308 | €105 | -€203 | -65.8% |
| Furniture and vehicles | 24 | €49,086 | €31,067 | -€18,020 | -36.7% |
| Leasing and similar rights | 25 | €10,405 | €7,405 | -€3,000 | -28.8% |
| Current assets | 29/58 | €85,110 | €54,200 | -€30,909 | -36.3% |
| Stocks and contracts in progress | 3 | €18,840 | €14,500 | -€4,340 | -23.0% |
| Stocks | 30/36 | €18,840 | €14,500 | -€4,340 | -23.0% |
| Amounts receivable within one year | 40/41 | €63,187 | €32,902 | -€30,285 | -47.9% |
| Trade receivables | 40 | €34,427 | €12,737 | -€21,690 | -63.0% |
| Other amounts receivable | 41 | €28,760 | €20,164 | -€8,595 | -29.9% |
| Cash at bank and in hand | 54/58 | €3,083 | €6,798 | +€3,716 | +121% |
| Total equity and liabilities | 10/49 | €210,888 | €151,660 | -€59,227 | -28.1% |
| Equity | 10/15 | €31,645 | €10,505 | -€21,140 | -66.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,645 | €7,505 | -€21,140 | -73.8% |
| Amounts payable | 17/49 | €179,243 | €141,155 | -€38,088 | -21.2% |
| Amounts payable after more than one year | 17 | €127,736 | €108,734 | -€19,003 | -14.9% |
| Financial debts | 170/4 | €127,736 | €108,734 | -€19,003 | -14.9% |
| Amounts payable within one year | 42/48 | €50,651 | €31,576 | -€19,074 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €25,789 | €19,003 | -€6,787 | -26.3% |
| Trade debts | 44 | €19,985 | €9,512 | -€10,472 | -52.4% |
| Suppliers | 440/4 | €19,985 | €9,512 | -€10,472 | -52.4% |
| Taxes, remuneration and social security | 45 | €4,876 | €3,061 | -€1,815 | -37.2% |
| Taxes | 450/3 | €2,101 | €470 | -€1,631 | -77.6% |
| Remuneration and social security | 454/9 | €2,775 | €2,591 | -€184 | -6.6% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €856 | €845 | -€11 | -1.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €287,023 | €240,295 | -€46,728 | -16.3% |
| Remuneration, social security and pensions | 62 | €11,504 | €18,975 | +€7,472 | +65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,717 | €28,318 | +€4,601 | +19.4% |
| Other operating charges | 640/8 | €831 | €2,656 | +€1,825 | +220% |
| Gross operating margin | 9900 | €42,432 | €33,515 | -€8,917 | -21.0% |
| Operating profit (loss) | 9901 | €6,380 | -€16,435 | -€22,815 | |
| Financial income | 75/76B | €1,670 | €2,242 | +€572 | +34.3% |
| Recurring financial income | 75 | €1,670 | €2,242 | +€572 | +34.3% |
| Financial charges | 65/66B | €7,547 | €6,947 | -€600 | -7.9% |
| Recurring financial charges | 65 | €7,547 | €6,947 | -€600 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €503 | -€21,140 | -€21,643 | |
| Income taxes | 67/77 | €470 | - | -€470 | |
| Profit (loss) for the period | 9904 | €33 | -€21,140 | -€21,173 | |
| Profit (loss) for the period to be appropriated | 9905 | €33 | -€21,140 | -€21,173 |
Next steps
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.