IDEAL-THERM: 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.
IDEAL-THERM
Largest movements
- Tangible fixed assets +€181,120
up €181,120 (+108%), from €167,550 to €348,670
of which Land and buildings: +€181,120
- Stocks and contracts +€9,378
new in 2025: €9,378
- Other debts +€125,252
up €125,252 (+941%), from €13,312 to €138,564
- Trade debts +€65,351
new in 2025: €65,351
- Reserves +€14,990
up €14,990 (+12.1%), from €124,030 to €139,020
- Tax, wage and social debts -€12,152
down €12,152 (-73.6%), from €16,511 to €4,359
- Debts after one year -€7,049
down €7,049 (-8.4%), from €83,751 to €76,702
- Gross operating margin -€25,986
down €25,986 (-47.5%), from €54,730 to €28,744
- Taxes -€10,124
down €10,124 (-80.8%), from €12,527 to €2,404
- Depreciation -€1,437
down €1,437 (-20.0%), from €7,183 to €5,746
- Financial charges +€916
up €916 (+71.7%), from €1,276 to €2,192
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 | €288,168 | €474,644 | +€186,475 | +64.7% |
| Fixed assets | 21/28 | €219,550 | €400,670 | +€181,120 | +82.5% |
| Tangible fixed assets | 22/27 | €167,550 | €348,670 | +€181,120 | +108% |
| Land and buildings | 22 | €167,550 | €348,670 | +€181,120 | +108% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €52,000 | €52,000 | = | 0.0% |
| Current assets | 29/58 | €68,618 | €73,973 | +€5,355 | +7.8% |
| Stocks and contracts in progress | 3 | - | €9,378 | +€9,378 | |
| Stocks | 30/36 | - | €9,378 | +€9,378 | |
| Amounts receivable within one year | 40/41 | €55,600 | €56,177 | +€577 | +1.0% |
| Trade receivables | 40 | €4,767 | €1,003 | -€3,764 | -79.0% |
| Other amounts receivable | 41 | €50,833 | €55,174 | +€4,341 | +8.5% |
| Cash at bank and in hand | 54/58 | €13,018 | €8,418 | -€4,600 | -35.3% |
| Total equity and liabilities | 10/49 | €288,168 | €474,644 | +€186,475 | +64.7% |
| Equity | 10/15 | €167,630 | €182,620 | +€14,990 | +8.9% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Reserves | 13 | €124,030 | €139,020 | +€14,990 | +12.1% |
| Distributable reserves | 133 | €124,030 | €139,020 | +€14,990 | +12.1% |
| Amounts payable | 17/49 | €120,538 | €292,024 | +€171,486 | +142% |
| Amounts payable after more than one year | 17 | €83,751 | €76,702 | -€7,049 | -8.4% |
| Financial debts | 170/4 | €83,751 | €76,702 | -€7,049 | -8.4% |
| Amounts payable within one year | 42/48 | €36,787 | €215,322 | +€178,535 | +485% |
| Current portion of amounts payable after more than one year | 42 | €6,965 | €7,049 | +€85 | +1.2% |
| Trade debts | 44 | - | €65,351 | +€65,351 | |
| Suppliers | 440/4 | - | €65,351 | +€65,351 | |
| Taxes, remuneration and social security | 45 | €16,511 | €4,359 | -€12,152 | -73.6% |
| Taxes | 450/3 | €16,511 | €4,359 | -€12,152 | -73.6% |
| Other amounts payable | 47/48 | €13,312 | €138,564 | +€125,252 | +941% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,183 | €5,746 | -€1,437 | -20.0% |
| Other operating charges | 640/8 | €3,396 | €3,412 | +€16 | +0.5% |
| Gross operating margin | 9900 | €54,730 | €28,744 | -€25,986 | -47.5% |
| Operating profit (loss) | 9901 | €44,151 | €19,585 | -€24,565 | -55.6% |
| Financial income | 75/76B | €18 | €0 | -€18 | -99.7% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -99.7% |
| Financial charges | 65/66B | €1,276 | €2,192 | +€916 | +71.7% |
| Recurring financial charges | 65 | €1,276 | €2,192 | +€916 | +71.7% |
| Profit (loss) for the period before taxes | 9903 | €42,892 | €17,393 | -€25,499 | -59.4% |
| Income taxes | 67/77 | €12,527 | €2,404 | -€10,124 | -80.8% |
| Profit (loss) for the period | 9904 | €30,365 | €14,990 | -€15,375 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,365 | €14,990 | -€15,375 | -50.6% |
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.