HEAT and TECHNICS: 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.
HEAT and TECHNICS
Largest movements
- Stocks and contracts +€31,243
up €31,243 (+43.4%), from €71,984 to €103,227
of which Contracts in progress: +€17,447
- Cash +€13,286
up €13,286 (+58.6%), from €22,672 to €35,958
mainly Depreciation (+€38,987) and Net result for the year (+€22,278)
- Tangible fixed assets -€7,293
down €7,293 (-7.0%), from €104,889 to €97,596
of which Leasing and similar rights: -€17,237
- Deferred charges and accrued income +€3,829
up €3,829 (+244%), from €1,566 to €5,395
- Profit (loss) carried forward +€22,278
up €22,278 (+50.8%), from €43,887 to €66,165
- Advances received +€18,810
new in 2025: €18,810
- Tax, wage and social debts +€5,748
up €5,748 (+16.1%), from €35,695 to €41,443
of which Remuneration and social security: +€10,765
- Other debts -€5,276
down €5,276 (-7.7%), from €68,679 to €63,403
- Staff costs +€82,061
up €82,061 (+60.4%), from €135,939 to €217,999
- Gross operating margin +€47,644
up €47,644 (+20.1%), from €236,909 to €284,553
- Depreciation +€5,423
up €5,423 (+16.2%), from €33,564 to €38,987
- Write-downs -€5,025
down €5,025, from €202 to -€4,823
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 | €261,484 | €300,996 | +€39,512 | +15.1% |
| Fixed assets | 21/28 | €104,889 | €97,596 | -€7,293 | -7.0% |
| Tangible fixed assets | 22/27 | €104,889 | €97,596 | -€7,293 | -7.0% |
| Plant, machinery and equipment | 23 | €11,595 | €13,675 | +€2,079 | +17.9% |
| Furniture and vehicles | 24 | €22,632 | €35,868 | +€13,236 | +58.5% |
| Leasing and similar rights | 25 | €33,878 | €16,642 | -€17,237 | -50.9% |
| Other tangible fixed assets | 26 | €36,783 | €31,412 | -€5,371 | -14.6% |
| Current assets | 29/58 | €156,594 | €203,399 | +€46,805 | +29.9% |
| Stocks and contracts in progress | 3 | €71,984 | €103,227 | +€31,243 | +43.4% |
| Stocks | 30/36 | €68,429 | €82,225 | +€13,796 | +20.2% |
| Contracts in progress | 37 | €3,555 | €21,002 | +€17,447 | +491% |
| Amounts receivable within one year | 40/41 | €60,372 | €58,819 | -€1,553 | -2.6% |
| Trade receivables | 40 | €57,453 | €49,383 | -€8,070 | -14.0% |
| Other amounts receivable | 41 | €2,918 | €9,436 | +€6,517 | +223% |
| Cash at bank and in hand | 54/58 | €22,672 | €35,958 | +€13,286 | +58.6% |
| Deferred charges and accrued income | 490/1 | €1,566 | €5,395 | +€3,829 | +244% |
| Total equity and liabilities | 10/49 | €261,484 | €300,996 | +€39,512 | +15.1% |
| Equity | 10/15 | €46,887 | €69,165 | +€22,278 | +47.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,887 | €66,165 | +€22,278 | +50.8% |
| Amounts payable | 17/49 | €214,597 | €231,830 | +€17,233 | +8.0% |
| Amounts payable after more than one year | 17 | €37,725 | €34,859 | -€2,865 | -7.6% |
| Financial debts | 170/4 | €27,725 | €24,859 | -€2,865 | -10.3% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €174,712 | €194,446 | +€19,734 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €27,133 | €26,953 | -€180 | -0.7% |
| Trade debts | 44 | €43,206 | €43,838 | +€631 | +1.5% |
| Suppliers | 440/4 | €43,206 | €43,838 | +€631 | +1.5% |
| Advances received on contracts in progress | 46 | - | €18,810 | +€18,810 | |
| Taxes, remuneration and social security | 45 | €35,695 | €41,443 | +€5,748 | +16.1% |
| Taxes | 450/3 | €20,858 | €15,841 | -€5,017 | -24.1% |
| Remuneration and social security | 454/9 | €14,837 | €25,602 | +€10,765 | +72.6% |
| Other amounts payable | 47/48 | €68,679 | €63,403 | -€5,276 | -7.7% |
| Accrued charges and deferred income | 492/3 | €2,160 | €2,525 | +€365 | +16.9% |
| Non-recurring operating income | 76A | €20,469 | €7,840 | -€12,629 | -61.7% |
| Remuneration, social security and pensions | 62 | €135,939 | €217,999 | +€82,061 | +60.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,564 | €38,987 | +€5,423 | +16.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €202 | -€4,823 | -€5,025 | |
| Other operating charges | 640/8 | €2,007 | €1,039 | -€967 | -48.2% |
| Non-recurring operating charges | 66A | €43,235 | - | -€43,235 | |
| Gross operating margin | 9900 | €236,909 | €284,553 | +€47,644 | +20.1% |
| Operating profit (loss) | 9901 | €21,963 | €31,350 | +€9,387 | +42.7% |
| Financial income | 75/76B | €594 | €225 | -€369 | -62.1% |
| Recurring financial income | 75 | €594 | €225 | -€369 | -62.1% |
| Financial charges | 65/66B | €2,559 | €2,386 | -€173 | -6.8% |
| Recurring financial charges | 65 | €2,559 | €2,386 | -€173 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €19,998 | €29,189 | +€9,191 | +46.0% |
| Income taxes | 67/77 | €5,160 | €6,911 | +€1,751 | +33.9% |
| Profit (loss) for the period | 9904 | €14,838 | €22,278 | +€7,441 | +50.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,838 | €22,278 | +€7,441 | +50.1% |
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 26 October 2026 via checked.be.