iThermAI: 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.
iThermAI
Largest movements
- Cash +€27,875
up €27,875 (+230%), from €12,141 to €40,016
mainly Trade debts (+€19,040) and Depreciation (+€6,400)
- Tangible fixed assets -€6,176
down €6,176 (-43.7%), from €14,126 to €7,950
of which Furniture and vehicles: -€6,176
- Receivables within one year -€1,233
down €1,233 (-14.1%), from €8,764 to €7,531
of which Trade receivables: -€1,436
- Trade debts +€19,040
up €19,040 (+1,526%), from €1,247 to €20,287
- Profit (loss) carried forward -€4,437
down €4,437, from €0 to -€4,437
- Other debts +€2,741
up €2,741 (+312%), from €879 to €3,620
- Tax, wage and social debts +€2,582
up €2,582 (+36.5%), from €7,082 to €9,664
of which Taxes: +€1,974
- Gross operating margin -€50,740
down €50,740 (-83.3%), from €60,912 to €10,172
- Staff costs -€17,439
down €17,439 (-70.8%), from €24,632 to €7,193
- Taxes -€14,627
down €14,627 (-98.8%), from €14,803 to €176
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 | €71,255 | €91,181 | +€19,926 | +28.0% |
| Fixed assets | 21/28 | €14,670 | €7,950 | -€6,720 | -45.8% |
| Tangible fixed assets | 22/27 | €14,126 | €7,950 | -€6,176 | -43.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €14,126 | €7,950 | -€6,176 | -43.7% |
| Financial fixed assets | 28 | €544 | €0 | -€544 | -100% |
| Current assets | 29/58 | €56,584 | €83,231 | +€26,646 | +47.1% |
| Amounts receivable within one year | 40/41 | €8,764 | €7,531 | -€1,233 | -14.1% |
| Trade receivables | 40 | €1,436 | €0 | -€1,436 | -100% |
| Other amounts receivable | 41 | €7,328 | €7,531 | +€203 | +2.8% |
| Current investments | 50/53 | €35,000 | €35,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €12,141 | €40,016 | +€27,875 | +230% |
| Deferred charges and accrued income | 490/1 | €679 | €683 | +€4 | +0.6% |
| Total equity and liabilities | 10/49 | €71,255 | €91,181 | +€19,926 | +28.0% |
| Equity | 10/15 | €62,046 | €57,610 | -€4,437 | -7.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €52,046 | €52,046 | = | 0.0% |
| Non-distributable reserves | 130/1 | €35,000 | €35,000 | = | 0.0% |
| Own shares acquired | 1312 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €17,046 | €17,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€4,437 | -€4,437 | |
| Amounts payable | 17/49 | €9,208 | €33,571 | +€24,363 | +265% |
| Amounts payable within one year | 42/48 | €9,208 | €33,571 | +€24,363 | +265% |
| Trade debts | 44 | €1,247 | €20,287 | +€19,040 | +1,526% |
| Suppliers | 440/4 | €1,247 | €20,287 | +€19,040 | +1,526% |
| Taxes, remuneration and social security | 45 | €7,082 | €9,664 | +€2,582 | +36.5% |
| Taxes | 450/3 | €5,946 | €7,920 | +€1,974 | +33.2% |
| Remuneration and social security | 454/9 | €1,136 | €1,745 | +€608 | +53.5% |
| Other amounts payable | 47/48 | €879 | €3,620 | +€2,741 | +312% |
| Remuneration, social security and pensions | 62 | €24,632 | €7,193 | -€17,439 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,357 | €6,400 | +€44 | +0.7% |
| Other operating charges | 640/8 | €703 | €891 | +€188 | +26.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €60,912 | €10,172 | -€50,740 | -83.3% |
| Operating profit (loss) | 9901 | €29,221 | -€4,311 | -€33,532 | |
| Financial income | 75/76B | €123 | €106 | -€17 | -13.8% |
| Recurring financial income | 75 | €123 | €106 | -€17 | -13.8% |
| Financial charges | 65/66B | €32 | €55 | +€24 | +74.9% |
| Recurring financial charges | 65 | €32 | €55 | +€24 | +74.9% |
| Profit (loss) for the period before taxes | 9903 | €29,312 | -€4,261 | -€33,573 | |
| Income taxes | 67/77 | €14,803 | €176 | -€14,627 | -98.8% |
| Profit (loss) for the period | 9904 | €14,510 | -€4,437 | -€18,946 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,510 | -€4,437 | -€18,946 |
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 17 October 2026 via checked.be.