THERMATECH: 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.
THERMATECH
Largest movements
- Cash -€16,648
down €16,648 (-71.0%), from €23,440 to €6,791
mainly Receivables within one year (-€12,792) and Other debts (-€9,282)
- Receivables within one year +€12,792
up €12,792 (+36.4%), from €35,142 to €47,935
of which Trade receivables: +€10,091
- Other debts -€9,282
down €9,282 (-92.0%), from €10,093 to €812
- Trade debts +€6,234
up €6,234 (+83.3%), from €7,487 to €13,721
- Tax, wage and social debts -€5,481
down €5,481 (-64.3%), from €8,528 to €3,048
of which Remuneration and social security: -€5,160
- Profit (loss) carried forward +€3,797
up €3,797 (+17.9%), from €21,258 to €25,055
- Depreciation -€2,897
down €2,897 (-40.2%), from €7,208 to €4,311
- Staff costs -€1,804
down €1,804 (-62.3%), from €2,897 to €1,093
- Gross operating margin -€1,357
down €1,357 (-10.2%), from €13,326 to €11,969
- Taxes +€906
up €906 (+121.2%), from €748 to €1,654
- Other operating charges -€852
down €852 (-46.7%), from €1,825 to €973
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 | €63,426 | €58,694 | -€4,732 | -7.5% |
| Fixed assets | 21/28 | €4,577 | €3,968 | -€608 | -13.3% |
| Tangible fixed assets | 22/27 | €4,577 | €3,968 | -€608 | -13.3% |
| Furniture and vehicles | 24 | €3,651 | €3,703 | +€52 | +1.4% |
| Other tangible fixed assets | 26 | €926 | €266 | -€660 | -71.3% |
| Current assets | 29/58 | €58,849 | €54,726 | -€4,124 | -7.0% |
| Amounts receivable within one year | 40/41 | €35,142 | €47,935 | +€12,792 | +36.4% |
| Trade receivables | 40 | €32,764 | €42,855 | +€10,091 | +30.8% |
| Other amounts receivable | 41 | €2,378 | €5,079 | +€2,701 | +113.6% |
| Cash at bank and in hand | 54/58 | €23,440 | €6,791 | -€16,648 | -71.0% |
| Deferred charges and accrued income | 490/1 | €268 | - | -€268 | |
| Total equity and liabilities | 10/49 | €63,426 | €58,694 | -€4,732 | -7.5% |
| Equity | 10/15 | €37,318 | €41,115 | +€3,797 | +10.2% |
| Contributions | 10/11 | €16,060 | €16,060 | = | 0.0% |
| Contributions outside capital | 11 | €16,060 | €16,060 | = | 0.0% |
| Other | 1109/19 | €16,060 | €16,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,258 | €25,055 | +€3,797 | +17.9% |
| Amounts payable | 17/49 | €26,109 | €17,580 | -€8,529 | -32.7% |
| Amounts payable within one year | 42/48 | €26,109 | €17,580 | -€8,529 | -32.7% |
| Trade debts | 44 | €7,487 | €13,721 | +€6,234 | +83.3% |
| Suppliers | 440/4 | €7,487 | €13,721 | +€6,234 | +83.3% |
| Taxes, remuneration and social security | 45 | €8,528 | €3,048 | -€5,481 | -64.3% |
| Taxes | 450/3 | €3,369 | €3,048 | -€321 | -9.5% |
| Remuneration and social security | 454/9 | €5,160 | - | -€5,160 | |
| Other amounts payable | 47/48 | €10,093 | €812 | -€9,282 | -92.0% |
| Remuneration, social security and pensions | 62 | €2,897 | €1,093 | -€1,804 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,208 | €4,311 | -€2,897 | -40.2% |
| Other operating charges | 640/8 | €1,825 | €973 | -€852 | -46.7% |
| Gross operating margin | 9900 | €13,326 | €11,969 | -€1,357 | -10.2% |
| Operating profit (loss) | 9901 | €1,396 | €5,592 | +€4,196 | +300.5% |
| Financial income | 75/76B | €219 | €0 | -€219 | -100.0% |
| Recurring financial income | 75 | €219 | €0 | -€219 | -100.0% |
| Financial charges | 65/66B | €158 | €140 | -€17 | -11.0% |
| Recurring financial charges | 65 | €158 | €140 | -€17 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €1,458 | €5,451 | +€3,994 | +274.0% |
| Income taxes | 67/77 | €748 | €1,654 | +€906 | +121.2% |
| Profit (loss) for the period | 9904 | €710 | €3,797 | +€3,088 | +435.2% |
| Profit (loss) for the period to be appropriated | 9905 | €710 | €3,797 | +€3,088 | +435.2% |
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 12 October 2026 via checked.be.