MICROTHERM: what changed
Two fiscal 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.
What changed
MICROTHERM
NACE 23.660, Manufacture of other non-metallic mineral products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€475,902
2024 · €1.9m-€2.4m
Equity
€9.6m
2024 · €10.1m-€475,902
Cash
€1,925
2024 · €1,282+€643
Balance sheet total
€17.1m
2024 · €22.7m-€5.6m
Largest movements
Assets
- Receivables within one year -€4.9m
down €4.9m (-39.5%), from €12.3m to €7.4m
of which Other amounts receivable: -€5.9m
- Tangible fixed assets -€508,571
down €508,571 (-9.4%), from €5.4m to €4.9m
of which Assets under construction and advance payments: -€806,895
Equity and liabilities
- Trade debts -€4.9m
down €4.9m (-78.0%), from €6.2m to €1.4m
- Profit (loss) carried forward -€475,902
down €475,902 (-27.2%), from €1.8m to €1.3m
- Provisions -€242,745
down €242,745 (-81.0%), from €299,832 to €57,087
Income statement
- Turnover -€12.3m
down €12.3m (-39.2%), from €31.3m to €19.0m
- Goods and materials -€7.2m
down €7.2m (-51.3%), from €14.0m to €6.8m
of which Purchases: -€6.4m
- Services and other goods -€4.5m
down €4.5m (-46.4%), from €9.6m to €5.2m
- Other operating income -€2.5m
down €2.5m (-32.8%), from €7.5m to €5.1m
- Staff costs -€973,195
down €973,195 (-8.0%), from €12.2m to €11.2m
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.
Result 2024
€1.9m
Turnover
-€12.3m
Other operating income
-€2.5m
Goods and materials
+€7.2m
Services and other goods
+€4.5m
Staff costs
+€973,195
Depreciation
+€221,234
Write-downs
-€11,576
Provisions
-€124,340
Other operating charges
-€65,349
Other operating items
-€479,148
Financial income
-€113,090
Financial charges
+€109,311
Taxes
+€209,575
Result 2025
-€475,902
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.
From operations
+€294,539
Investment
-€293,896
Financing
€0
Cash 2024
€1,282
From operations (derived)
+€294,539
Net result for the year
-€475,902
Depreciation
+€894,017
Stocks and contracts
+€95,110
Receivables within one year
+€4.9m
Deferred charges and accrued income
+€42,407
Provisions
-€242,745
Trade debts
-€4.9m
Tax, wage and social debts
-€57,529
Other debts
+€12,411
Accrued charges and deferred income
+€26,004
Investment (derived)
-€293,896
Investment in fixed assets (net)
-€293,896
Cash 2025
€1,925
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,694,792 | €17,101,485 | -€5.6m | -24.6% |
| Fixed assets | 21/28 | €5,582,376 | €4,982,255 | -€600,121 | -10.8% |
| Intangible fixed assets | 21 | €166,080 | €74,530 | -€91,550 | -55.1% |
| Tangible fixed assets | 22/27 | €5,416,097 | €4,907,526 | -€508,571 | -9.4% |
| Land and buildings | 22 | €1,214,802 | €1,125,053 | -€89,749 | -7.4% |
| Plant, machinery and equipment | 23 | €3,066,280 | €3,478,349 | +€412,069 | +13.4% |
| Furniture and vehicles | 24 | €77,137 | €57,406 | -€19,731 | -25.6% |
| Other tangible fixed assets | 26 | €38,370 | €34,105 | -€4,265 | -11.1% |
| Assets under construction and advance payments | 27 | €1,019,508 | €212,613 | -€806,895 | -79.1% |
| Financial fixed assets | 28 | €199 | €199 | = | 0.0% |
| Other financial fixed assets | 284/8 | €199 | €199 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €199 | €199 | = | 0.0% |
| Current assets | 29/58 | €17,112,416 | €12,119,230 | -€5.0m | -29.2% |
| Stocks and contracts in progress | 3 | €4,758,966 | €4,663,856 | -€95,110 | -2.0% |
| Stocks | 30/36 | €4,758,966 | €4,663,856 | -€95,110 | -2.0% |
| Raw materials and consumables | 30/31 | €2,626,972 | €2,882,139 | +€255,167 | +9.7% |
| Work in progress | 32 | €656,968 | €342,693 | -€314,275 | -47.8% |
| Finished goods | 33 | €1,445,368 | €1,400,140 | -€45,228 | -3.1% |
| Goods purchased for resale | 34 | €29,658 | €38,884 | +€9,226 | +31.1% |
| Amounts receivable within one year | 40/41 | €12,298,703 | €7,442,391 | -€4.9m | -39.5% |
| Trade receivables | 40 | €1,773,191 | €2,861,999 | +€1.1m | +61.4% |
| Other amounts receivable | 41 | €10,525,512 | €4,580,392 | -€5.9m | -56.5% |
| Cash at bank and in hand | 54/58 | €1,282 | €1,925 | +€643 | +50.2% |
| Deferred charges and accrued income | 490/1 | €53,465 | €11,058 | -€42,407 | -79.3% |
| Total equity and liabilities | 10/49 | €22,694,792 | €17,101,485 | -€5.6m | -24.6% |
| Equity | 10/15 | €10,082,592 | €9,606,690 | -€475,902 | -4.7% |
| Contributions | 10/11 | €5,431,583 | €5,431,583 | = | 0.0% |
| Capital | 10 | €5,345,000 | €5,345,000 | = | 0.0% |
| Issued capital | 100 | €5,345,000 | €5,345,000 | = | 0.0% |
| Outside capital | 11 | €86,583 | €86,583 | = | 0.0% |
| Share premium | 1100/10 | €86,583 | €86,583 | = | 0.0% |
| Reserves | 13 | €2,899,808 | €2,899,808 | = | 0.0% |
| Non-distributable reserves | 130/1 | €307,872 | €307,872 | = | 0.0% |
| Legal reserve | 130 | €296,568 | €296,568 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,304 | €11,304 | = | 0.0% |
| Tax-exempt reserves | 132 | €81,372 | €81,372 | = | 0.0% |
| Distributable reserves | 133 | €2,510,564 | €2,510,564 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,751,201 | €1,275,299 | -€475,902 | -27.2% |
| Provisions and deferred taxes | 16 | €299,832 | €57,087 | -€242,745 | -81.0% |
| Provisions for liabilities and charges | 160/5 | €299,832 | €57,087 | -€242,745 | -81.0% |
| Pensions and similar obligations | 160 | €15,059 | €13,870 | -€1,189 | -7.9% |
| Other liabilities and charges | 164/5 | €284,773 | €43,217 | -€241,556 | -84.8% |
| Amounts payable | 17/49 | €12,312,368 | €7,437,708 | -€4.9m | -39.6% |
| Amounts payable after more than one year | 17 | €3,500,000 | €3,500,000 | = | 0.0% |
| Financial debts | 170/4 | €3,500,000 | €3,500,000 | = | 0.0% |
| Other loans | 174 | €3,500,000 | €3,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,705,844 | €3,805,180 | -€4.9m | -56.3% |
| Trade debts | 44 | €6,227,098 | €1,371,552 | -€4.9m | -78.0% |
| Suppliers | 440/4 | €6,227,098 | €1,371,552 | -€4.9m | -78.0% |
| Taxes, remuneration and social security | 45 | €2,445,305 | €2,387,776 | -€57,529 | -2.4% |
| Taxes | 450/3 | €444,059 | €571,222 | +€127,163 | +28.6% |
| Remuneration and social security | 454/9 | €2,001,246 | €1,816,554 | -€184,692 | -9.2% |
| Other amounts payable | 47/48 | €33,441 | €45,852 | +€12,411 | +37.1% |
| Accrued charges and deferred income | 492/3 | €106,524 | €132,528 | +€26,004 | +24.4% |
| Operating income | 70/76A | €38,971,111 | €23,745,567 | -€15.2m | -39.1% |
| Turnover | 70 | €31,322,479 | €19,043,659 | -€12.3m | -39.2% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €338 | -€359,503 | -€359,841 | |
| Own construction capitalised | 72 | €51 | €176 | +€125 | +245.1% |
| Other operating income | 74 | €7,528,811 | €5,061,235 | -€2.5m | -32.8% |
| Non-recurring operating income | 76A | €119,432 | - | -€119,432 | |
| Operating charges | 60/66A | €36,625,212 | €23,965,294 | -€12.7m | -34.6% |
| Goods for resale, raw materials and consumables | 60 | €14,034,164 | €6,828,843 | -€7.2m | -51.3% |
| Purchases | 600/8 | €13,429,899 | €6,987,945 | -€6.4m | -48.0% |
| Change in stocks: decrease (increase) | 609 | €604,265 | -€159,102 | -€763,367 | |
| Services and other goods | 61 | €9,617,467 | €5,156,034 | -€4.5m | -46.4% |
| Remuneration, social security and pensions | 62 | €12,170,701 | €11,197,506 | -€973,195 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,115,251 | €894,017 | -€221,234 | -19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€116,867 | -€105,291 | +€11,576 | +9.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€367,085 | -€242,745 | +€124,340 | +33.9% |
| Other operating charges | 640/8 | €171,581 | €236,930 | +€65,349 | +38.1% |
| Operating profit (loss) | 9901 | €2,345,899 | -€219,727 | -€2.6m | |
| Financial income | 75/76B | €244,285 | €131,195 | -€113,090 | -46.3% |
| Recurring financial income | 75 | €242,825 | €131,195 | -€111,630 | -46.0% |
| Income from current assets | 751 | €239,173 | €128,001 | -€111,172 | -46.5% |
| Other financial income | 752/9 | €3,652 | €3,194 | -€458 | -12.5% |
| Non-recurring financial income | 76B | €1,460 | - | -€1,460 | |
| Financial charges | 65/66B | €269,706 | €160,395 | -€109,311 | -40.5% |
| Recurring financial charges | 65 | €269,706 | €160,395 | -€109,311 | -40.5% |
| Debt charges | 650 | €202,534 | €140,270 | -€62,264 | -30.7% |
| Other financial charges | 652/9 | €67,172 | €20,125 | -€47,047 | -70.0% |
| Profit (loss) for the period before taxes | 9903 | €2,320,478 | -€248,927 | -€2.6m | |
| Income taxes | 67/77 | €436,550 | €226,975 | -€209,575 | -48.0% |
| Taxes | 670/3 | €436,550 | €256,229 | -€180,321 | -41.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €29,254 | +€29,254 | |
| Profit (loss) for the period | 9904 | €1,883,928 | -€475,902 | -€2.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,883,928 | -€475,902 | -€2.4m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.