Therm - Calor: what changed
Therm - Calor
Largest movements
- Receivables within one year +€149,094
up €149,094 (+187%), from €79,519 to €228,613
of which Trade receivables: +€136,626
- Cash -€11,598
down €11,598 (-85.9%), from €13,499 to €1,902
mainly Receivables within one year (-€149,094) and Deferred charges and accrued income (-€1,571)
- Trade debts +€80,956
up €80,956 (+742%), from €10,918 to €91,874
- Debts after one year +€46,977
up €46,977 (+16.4%), from €287,283 to €334,259
- Profit (loss) carried forward +€11,489
up €11,489 (+5.0%), from -€229,525 to -€218,035
- Staff costs -€10,671
down €10,671 (-10.0%), from €106,352 to €95,682
- Other operating charges -€1,699
down €1,699 (-54.7%), from €3,109 to €1,410
- Gross operating margin -€1,530
down €1,530 (-1.4%), from €110,092 to €108,563
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €99,431 | €238,498 | +€139,067 | +140% |
| Fixed assets | 21/28 | €124 | €124 | = | 0.0% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €99,307 | €238,374 | +€139,067 | +140% |
| Amounts receivable after more than one year | 29 | €5,700 | €5,700 | = | 0.0% |
| Other amounts receivable | 291 | €5,700 | €5,700 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €79,519 | €228,613 | +€149,094 | +187% |
| Trade receivables | 40 | €75,176 | €211,802 | +€136,626 | +182% |
| Other amounts receivable | 41 | €4,344 | €16,811 | +€12,468 | +287% |
| Cash at bank and in hand | 54/58 | €13,499 | €1,902 | -€11,598 | -85.9% |
| Deferred charges and accrued income | 490/1 | €588 | €2,159 | +€1,571 | +267% |
| Total equity and liabilities | 10/49 | €99,431 | €238,498 | +€139,067 | +140% |
| Equity | 10/15 | -€204,518 | -€193,029 | +€11,489 | +5.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €6,414 | €6,414 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,084 | €2,084 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €225 | €225 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,330 | €4,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,525 | -€218,035 | +€11,489 | +5.0% |
| Amounts payable | 17/49 | €303,949 | €431,527 | +€127,578 | +42.0% |
| Amounts payable after more than one year | 17 | €287,283 | €334,259 | +€46,977 | +16.4% |
| Other amounts payable | 178/9 | €287,283 | €334,259 | +€46,977 | +16.4% |
| Amounts payable within one year | 42/48 | €16,667 | €97,268 | +€80,601 | +484% |
| Trade debts | 44 | €10,918 | €91,874 | +€80,956 | +742% |
| Suppliers | 440/4 | €10,918 | €91,874 | +€80,956 | +742% |
| Taxes, remuneration and social security | 45 | €2,849 | €2,494 | -€355 | -12.5% |
| Taxes | 450/3 | €5 | €196 | +€192 | +4,170% |
| Remuneration and social security | 454/9 | €2,844 | €2,298 | -€547 | -19.2% |
| Other amounts payable | 47/48 | €2,900 | €2,900 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €106,352 | €95,682 | -€10,671 | -10.0% |
| Other operating charges | 640/8 | €3,109 | €1,410 | -€1,699 | -54.7% |
| Gross operating margin | 9900 | €110,092 | €108,563 | -€1,530 | -1.4% |
| Operating profit (loss) | 9901 | €631 | €11,471 | +€10,840 | +1,718% |
| Financial income | 75/76B | €0 | €109 | +€109 | +1,090,100% |
| Recurring financial income | 75 | €0 | €109 | +€109 | +1,090,100% |
| Financial charges | 65/66B | €92 | €91 | -€1 | -1.1% |
| Recurring financial charges | 65 | €92 | €91 | -€1 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €539 | €11,489 | +€10,950 | +2,032% |
| Profit (loss) for the period | 9904 | €539 | €11,489 | +€10,950 | +2,032% |
| Profit (loss) for the period to be appropriated | 9905 | €539 | €11,489 | +€10,950 | +2,032% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.