TERMOTHERM: 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.
TERMOTHERM
Largest movements
- Tangible fixed assets +€54,067
up €54,067 (+55.7%), from €97,056 to €151,123
of which Furniture and vehicles: +€58,813
- Cash +€47,218
up €47,218 (+48.5%), from €97,257 to €144,474
mainly Net result for the year (+€50,552) and Depreciation (+€25,145)
- Receivables within one year -€18,509
down €18,509 (-23.0%), from €80,324 to €61,815
of which Other amounts receivable: -€10,384
- Reserves +€50,552
up €50,552 (+23.0%), from €220,102 to €270,654
of which Distributable reserves: +€50,552
- Debts after one year +€24,787
up €24,787 (+206.6%), from €11,996 to €36,783
- Tax, wage and social debts +€9,514
up €9,514 (+1038.3%), from €916 to €10,430
- Trade debts -€6,759
down €6,759 (-51.4%), from €13,141 to €6,382
of which Suppliers: -€5,876
- Gross operating margin +€61,359
up €61,359 (+159.7%), from €38,426 to €99,786
- Taxes +€17,891
up €17,891 (+965.6%), from €1,853 to €19,744
- Depreciation -€4,477
down €4,477 (-15.1%), from €29,621 to €25,145
- Other operating charges +€1,539
up €1,539 (+139.5%), from €1,103 to €2,642
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 | €295,192 | €377,028 | +€81,836 | +27.7% |
| Fixed assets | 21/28 | €97,147 | €151,214 | +€54,067 | +55.7% |
| Tangible fixed assets | 22/27 | €97,056 | €151,123 | +€54,067 | +55.7% |
| Plant, machinery and equipment | 23 | €2,669 | €2,241 | -€428 | -16.0% |
| Furniture and vehicles | 24 | €46,959 | €105,772 | +€58,813 | +125.2% |
| Other tangible fixed assets | 26 | €47,428 | €43,109 | -€4,319 | -9.1% |
| Financial fixed assets | 28 | €92 | €92 | = | 0.0% |
| Current assets | 29/58 | €198,045 | €225,813 | +€27,769 | +14.0% |
| Stocks and contracts in progress | 3 | €17,089 | €16,179 | -€910 | -5.3% |
| Stocks | 30/36 | €17,089 | €16,179 | -€910 | -5.3% |
| Amounts receivable within one year | 40/41 | €80,324 | €61,815 | -€18,509 | -23.0% |
| Trade receivables | 40 | €62,873 | €54,748 | -€8,125 | -12.9% |
| Other amounts receivable | 41 | €17,451 | €7,067 | -€10,384 | -59.5% |
| Cash at bank and in hand | 54/58 | €97,257 | €144,474 | +€47,218 | +48.5% |
| Deferred charges and accrued income | 490/1 | €3,375 | €3,345 | -€30 | -0.9% |
| Total equity and liabilities | 10/49 | €295,192 | €377,028 | +€81,836 | +27.7% |
| Equity | 10/15 | €238,762 | €289,314 | +€50,552 | +21.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €220,102 | €270,654 | +€50,552 | +23.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €218,242 | €268,794 | +€50,552 | +23.2% |
| Profit (loss) carried forward | 14 | €60 | €60 | = | 0.0% |
| Amounts payable | 17/49 | €56,430 | €87,714 | +€31,283 | +55.4% |
| Amounts payable after more than one year | 17 | €11,996 | €36,783 | +€24,787 | +206.6% |
| Financial debts | 170/4 | €11,996 | €36,783 | +€24,787 | +206.6% |
| Amounts payable within one year | 42/48 | €44,435 | €50,931 | +€6,496 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €9,154 | €12,743 | +€3,589 | +39.2% |
| Trade debts | 44 | €13,141 | €6,382 | -€6,759 | -51.4% |
| Suppliers | 440/4 | €12,258 | €6,382 | -€5,876 | -47.9% |
| Bills of exchange payable | 441 | €883 | - | -€883 | |
| Taxes, remuneration and social security | 45 | €916 | €10,430 | +€9,514 | +1038.3% |
| Taxes | 450/3 | €916 | €10,430 | +€9,514 | +1038.3% |
| Other amounts payable | 47/48 | €21,223 | €21,376 | +€152 | +0.7% |
| Non-recurring operating income | 76A | - | €16,324 | +€16,324 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,621 | €25,145 | -€4,477 | -15.1% |
| Other operating charges | 640/8 | €1,103 | €2,642 | +€1,539 | +139.5% |
| Gross operating margin | 9900 | €38,426 | €99,786 | +€61,359 | +159.7% |
| Operating profit (loss) | 9901 | €7,703 | €72,000 | +€64,297 | +834.8% |
| Financial income | 75/76B | €217 | €17 | -€200 | -92.1% |
| Recurring financial income | 75 | €217 | €17 | -€200 | -92.1% |
| Financial charges | 65/66B | €1,557 | €1,721 | +€164 | +10.5% |
| Recurring financial charges | 65 | €1,557 | €1,721 | +€164 | +10.5% |
| Profit (loss) for the period before taxes | 9903 | €6,363 | €70,296 | +€63,933 | +1004.8% |
| Income taxes | 67/77 | €1,853 | €19,744 | +€17,891 | +965.6% |
| Profit (loss) for the period | 9904 | €4,510 | €50,552 | +€46,042 | +1020.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,510 | €50,552 | +€46,042 | +1020.9% |
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 6 October 2026 via checked.be.