Hydrothermo: 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.
Hydrothermo
Largest movements
- Receivables within one year -€154,203
down €154,203 (-49.6%), from €310,842 to €156,639
of which Trade receivables: -€143,863
- Stocks and contracts +€11,675
up €11,675 (+38.9%), from €30,000 to €41,675
- Tangible fixed assets -€9,170
down €9,170 (-37.5%), from €24,434 to €15,264
of which Furniture and vehicles: -€8,427
- Cash +€8,060
up €8,060 (+8.6%), from €94,030 to €102,091
mainly Receivables within one year (+€154,203) and Depreciation (+€12,712)
- Deferred charges and accrued income +€5,596
up €5,596 (+126.4%), from €4,427 to €10,023
- Trade debts -€114,454
down €114,454 (-60.3%), from €189,671 to €75,217
- Tax, wage and social debts -€13,167
down €13,167 (-59.5%), from €22,120 to €8,953
of which Taxes: -€13,527
- Debts after one year -€8,013
down €8,013 (-100.0%), from €8,013 to €0
- Profit (loss) carried forward +€5,398
up €5,398 (+9.5%), from €56,810 to €62,209
- Gross operating margin +€37,198
up €37,198 (+292.1%), from €12,736 to €49,935
- Write-downs +€26,433
up €26,433, from €0 to €26,433
- Other operating charges +€4,590
up €4,590 (+518.3%), from €885 to €5,475
- Financial income -€2,252
down €2,252 (-55.4%), from €4,068 to €1,816
- Financial charges -€1,579
down €1,579 (-85.4%), from €1,848 to €269
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 | €464,031 | €325,989 | -€138,042 | -29.7% |
| Fixed assets | 21/28 | €24,732 | €15,562 | -€9,170 | -37.1% |
| Tangible fixed assets | 22/27 | €24,434 | €15,264 | -€9,170 | -37.5% |
| Plant, machinery and equipment | 23 | €1,950 | €1,207 | -€743 | -38.1% |
| Furniture and vehicles | 24 | €22,484 | €14,057 | -€8,427 | -37.5% |
| Financial fixed assets | 28 | €298 | €298 | = | 0.0% |
| Current assets | 29/58 | €439,299 | €310,427 | -€128,872 | -29.3% |
| Stocks and contracts in progress | 3 | €30,000 | €41,675 | +€11,675 | +38.9% |
| Stocks | 30/36 | €30,000 | €41,675 | +€11,675 | +38.9% |
| Amounts receivable within one year | 40/41 | €310,842 | €156,639 | -€154,203 | -49.6% |
| Trade receivables | 40 | €277,531 | €133,667 | -€143,863 | -51.8% |
| Other amounts receivable | 41 | €33,311 | €22,971 | -€10,340 | -31.0% |
| Cash at bank and in hand | 54/58 | €94,030 | €102,091 | +€8,060 | +8.6% |
| Deferred charges and accrued income | 490/1 | €4,427 | €10,023 | +€5,596 | +126.4% |
| Total equity and liabilities | 10/49 | €464,031 | €325,989 | -€138,042 | -29.7% |
| Equity | 10/15 | €136,770 | €142,169 | +€5,398 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,360 | €61,360 | = | 0.0% |
| Distributable reserves | 133 | €61,360 | €61,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,810 | €62,209 | +€5,398 | +9.5% |
| Amounts payable | 17/49 | €327,261 | €183,821 | -€143,440 | -43.8% |
| Amounts payable after more than one year | 17 | €8,013 | €0 | -€8,013 | -100.0% |
| Financial debts | 170/4 | €8,013 | €0 | -€8,013 | -100.0% |
| Amounts payable within one year | 42/48 | €319,248 | €183,821 | -€135,427 | -42.4% |
| Current portion of amounts payable after more than one year | 42 | €8,626 | €8,013 | -€614 | -7.1% |
| Trade debts | 44 | €189,671 | €75,217 | -€114,454 | -60.3% |
| Suppliers | 440/4 | €189,671 | €75,217 | -€114,454 | -60.3% |
| Advances received on contracts in progress | 46 | €8,544 | €5,000 | -€3,544 | -41.5% |
| Taxes, remuneration and social security | 45 | €22,120 | €8,953 | -€13,167 | -59.5% |
| Taxes | 450/3 | €17,105 | €3,578 | -€13,527 | -79.1% |
| Remuneration and social security | 454/9 | €5,015 | €5,375 | +€360 | +7.2% |
| Other amounts payable | 47/48 | €90,286 | €86,638 | -€3,648 | -4.0% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,416 | €12,712 | +€296 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €26,433 | +€26,433 | |
| Other operating charges | 640/8 | €885 | €5,475 | +€4,590 | +518.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €12,736 | €49,935 | +€37,198 | +292.1% |
| Operating profit (loss) | 9901 | -€565 | €5,315 | +€5,881 | |
| Financial income | 75/76B | €4,068 | €1,816 | -€2,252 | -55.4% |
| Recurring financial income | 75 | €4,068 | €1,816 | -€2,252 | -55.4% |
| Financial charges | 65/66B | €1,848 | €269 | -€1,579 | -85.4% |
| Recurring financial charges | 65 | €1,848 | €269 | -€1,579 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €1,655 | €6,862 | +€5,207 | +314.7% |
| Income taxes | 67/77 | €504 | €1,464 | +€960 | +190.6% |
| Profit (loss) for the period | 9904 | €1,151 | €5,398 | +€4,247 | +368.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,151 | €5,398 | +€4,247 | +368.9% |
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 12 October 2026 via checked.be.