TERMOFARMA: 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.
TERMOFARMA
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts +€236,917
up €236,917 (+51.5%), from €460,355 to €697,272
- Debts after one year -€135,974
down €135,974 (-18.6%), from €729,458 to €593,484
- Reserves -€73,398
down €73,398 (-3.3%), from €2.3m to €2.2m
- Gross operating margin -€20,951
down €20,951 (-8.2%), from €255,420 to €234,469
- Taxes -€4,491
down €4,491 (-7.4%), from €60,316 to €55,825
- Financial charges -€4,127
down €4,127 (-8.0%), from €51,491 to €47,364
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 | €3,687,135 | €3,727,194 | +€40,059 | +1.1% |
| Fixed assets | 21/28 | €3,337,126 | €3,337,126 | = | 0.0% |
| Financial fixed assets | 28 | €3,337,126 | €3,337,126 | = | 0.0% |
| Current assets | 29/58 | €350,009 | €390,068 | +€40,059 | +11.4% |
| Amounts receivable within one year | 40/41 | €115,201 | €151,080 | +€35,880 | +31.1% |
| Other amounts receivable | 41 | €115,201 | €151,080 | +€35,880 | +31.1% |
| Cash at bank and in hand | 54/58 | €234,147 | €236,361 | +€2,214 | +0.9% |
| Deferred charges and accrued income | 490/1 | €662 | €2,627 | +€1,965 | +297.0% |
| Total equity and liabilities | 10/49 | €3,687,135 | €3,727,194 | +€40,059 | +1.1% |
| Equity | 10/15 | €2,260,881 | €2,187,484 | -€73,398 | -3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,254,681 | €2,181,284 | -€73,398 | -3.3% |
| Distributable reserves | 133 | €2,254,681 | €2,181,284 | -€73,398 | -3.3% |
| Amounts payable | 17/49 | €1,426,253 | €1,539,710 | +€113,457 | +8.0% |
| Amounts payable after more than one year | 17 | €729,458 | €593,484 | -€135,974 | -18.6% |
| Financial debts | 170/4 | €729,458 | €593,484 | -€135,974 | -18.6% |
| Amounts payable within one year | 42/48 | €662,508 | €914,487 | +€251,980 | +38.0% |
| Current portion of amounts payable after more than one year | 42 | €147,585 | €146,275 | -€1,310 | -0.9% |
| Trade debts | 44 | €0 | €5,587 | +€5,587 | |
| Suppliers | 440/4 | €0 | €5,587 | +€5,587 | |
| Taxes, remuneration and social security | 45 | €54,567 | €65,352 | +€10,785 | +19.8% |
| Taxes | 450/3 | €54,567 | €65,352 | +€10,785 | +19.8% |
| Other amounts payable | 47/48 | €460,355 | €697,272 | +€236,917 | +51.5% |
| Accrued charges and deferred income | 492/3 | €34,288 | €31,739 | -€2,548 | -7.4% |
| Other operating charges | 640/8 | €1,313 | €1,127 | -€186 | -14.1% |
| Gross operating margin | 9900 | €255,420 | €234,469 | -€20,951 | -8.2% |
| Operating profit (loss) | 9901 | €254,108 | €233,342 | -€20,766 | -8.2% |
| Financial income | 75/76B | - | €1,713 | +€1,713 | |
| Recurring financial income | 75 | - | €1,713 | +€1,713 | |
| Financial charges | 65/66B | €51,491 | €47,364 | -€4,127 | -8.0% |
| Recurring financial charges | 65 | €51,491 | €47,364 | -€4,127 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €202,617 | €187,691 | -€14,926 | -7.4% |
| Income taxes | 67/77 | €60,316 | €55,825 | -€4,491 | -7.4% |
| Profit (loss) for the period | 9904 | €142,301 | €131,866 | -€10,435 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €142,301 | €131,866 | -€10,435 | -7.3% |
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 5 October 2026 via checked.be.