THERMIBEL: what changed
What changed
THERMIBEL
NACE 26.510, Manufacture of computer, electronic and optical products
filed annual accounts (NBB)
Net result for the year
€698,706
2024 · -€13,798+€712,504
Equity
€1.7m
2024 · €1.3m+€441,706
Cash
€647,709
2024 · €208,232+€439,477
Balance sheet total
€4.2m
2024 · €4.7m-€484,293
Largest movements
Assets
- Tangible fixed assets -€686,013
down €686,013 (-73.9%), from €927,698 to €241,685
- Cash +€439,477
up €439,477 (+211%), from €208,232 to €647,709
mainly Net result for the year (+€698,706) and Investment in fixed assets (net) (+€525,211)
- Receivables within one year +€378,301
up €378,301 (+19.8%), from €1.9m to €2.3m
of which Other amounts receivable: +€399,375
- Stocks and contracts -€279,854
down €279,854 (-22.1%), from €1.3m to €988,432
- Current investments -€257,000
no longer reported in 2025 (was €257,000)
Equity and liabilities
- Profit (loss) carried forward +€698,706
up €698,706 (+131%), from €532,210 to €1.2m
- Debts after one year -€572,943
down €572,943 (-85.4%), from €670,726 to €97,783
- Accrued charges and deferred income -€290,345
down €290,345 (-96.9%), from €299,573 to €9,228
- Reserves -€257,000
down €257,000 (-77.6%), from €331,371 to €74,371
of which Non-distributable reserves: -€257,000
- Tax, wage and social debts +€168,480
up €168,480 (+58.1%), from €289,925 to €458,405
of which Taxes: +€145,052
Income statement
- Gross operating margin +€1.4m
up €1.4m (+60.0%), from €2.3m to €3.7m
- Write-downs +€243,091
new in 2025: €243,091
- Taxes +€233,126
up €233,126 (+1,383%), from €16,860 to €249,986
- Staff costs +€166,746
up €166,746 (+8.2%), from €2.0m to €2.2m
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.
Result 2024
-€13,798
Gross operating margin
+€1.4m
Staff costs
-€166,746
Depreciation
-€15,652
Write-downs
-€243,091
Provisions
-€14,000
Other operating charges
-€2,359
Other operating items
+€7,743
Financial income
-€14,447
Financial charges
+€12,501
Taxes
-€233,126
Result 2025
€698,706
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€667,732
Investment
+€782,211
Financing
-€1.0m
Cash 2024
€208,232
From operations (derived)
+€667,732
Net result for the year
+€698,706
Depreciation
+€165,854
Receivables after one year
+€95,625
Stocks and contracts
+€279,854
Receivables within one year
-€378,301
Deferred charges and accrued income
-€21,473
Trade debts
-€140,372
Tax, wage and social debts
+€168,480
Advances received
+€89,704
Accrued charges and deferred income
-€290,345
Investment (derived)
+€782,211
Investment in fixed assets (net)
+€525,211
Current investments
+€257,000
Financing
-€1.0m
Debts after one year
-€572,943
Current portion of long-term debt
-€117,470
Short-term financial debts
-€63,053
Contributions, distributions and other
-€257,000
Cash 2025
€647,709
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,730,234 | €4,245,941 | -€484,293 | -10.2% |
| Fixed assets | 21/28 | €956,945 | €265,880 | -€691,065 | -72.2% |
| Intangible fixed assets | 21 | €16,528 | €12,308 | -€4,220 | -25.5% |
| Tangible fixed assets | 22/27 | €927,698 | €241,685 | -€686,013 | -73.9% |
| Land and buildings | 22 | €311,985 | - | -€311,985 | |
| Plant, machinery and equipment | 23 | €402,504 | €81,047 | -€321,457 | -79.9% |
| Furniture and vehicles | 24 | €6,409 | €3,013 | -€3,396 | -53.0% |
| Leasing and similar rights | 25 | €206,800 | €157,625 | -€49,175 | -23.8% |
| Financial fixed assets | 28 | €12,719 | €11,887 | -€832 | -6.5% |
| Current assets | 29/58 | €3,773,289 | €3,980,061 | +€206,772 | +5.5% |
| Amounts receivable after more than one year | 29 | €95,625 | - | -€95,625 | |
| Trade receivables | 290 | €95,625 | - | -€95,625 | |
| Stocks and contracts in progress | 3 | €1,268,286 | €988,432 | -€279,854 | -22.1% |
| Stocks | 30/36 | €1,268,286 | €988,432 | -€279,854 | -22.1% |
| Amounts receivable within one year | 40/41 | €1,909,163 | €2,287,464 | +€378,301 | +19.8% |
| Trade receivables | 40 | €1,771,815 | €1,750,741 | -€21,074 | -1.2% |
| Other amounts receivable | 41 | €137,348 | €536,723 | +€399,375 | +291% |
| Current investments | 50/53 | €257,000 | - | -€257,000 | |
| Cash at bank and in hand | 54/58 | €208,232 | €647,709 | +€439,477 | +211% |
| Deferred charges and accrued income | 490/1 | €34,983 | €56,456 | +€21,473 | +61.4% |
| Total equity and liabilities | 10/49 | €4,730,234 | €4,245,941 | -€484,293 | -10.2% |
| Equity | 10/15 | €1,272,605 | €1,714,311 | +€441,706 | +34.7% |
| Contributions | 10/11 | €409,024 | €409,024 | = | 0.0% |
| Capital | 10 | €409,024 | €409,024 | = | 0.0% |
| Issued capital | 100 | €409,024 | €409,024 | = | 0.0% |
| Reserves | 13 | €331,371 | €74,371 | -€257,000 | -77.6% |
| Non-distributable reserves | 130/1 | €297,902 | €40,902 | -€257,000 | -86.3% |
| Reserves not available under the articles | 1311 | €40,902 | €40,902 | = | 0.0% |
| Own shares acquired | 1312 | €257,000 | - | -€257,000 | |
| Tax-exempt reserves | 132 | €15,428 | €15,428 | = | 0.0% |
| Distributable reserves | 133 | €18,041 | €18,041 | = | 0.0% |
| Profit (loss) carried forward | 14 | €532,210 | €1,230,916 | +€698,706 | +131% |
| Amounts payable | 17/49 | €3,457,629 | €2,531,630 | -€925,999 | -26.8% |
| Amounts payable after more than one year | 17 | €670,726 | €97,783 | -€572,943 | -85.4% |
| Financial debts | 170/4 | €670,726 | €97,783 | -€572,943 | -85.4% |
| Amounts payable within one year | 42/48 | €2,487,330 | €2,424,619 | -€62,711 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €170,169 | €52,699 | -€117,470 | -69.0% |
| Financial debts | 43 | €1,274,147 | €1,211,094 | -€63,053 | -4.9% |
| Credit institutions | 430/8 | €1,274,147 | €1,211,094 | -€63,053 | -4.9% |
| Trade debts | 44 | €753,089 | €612,717 | -€140,372 | -18.6% |
| Suppliers | 440/4 | €753,089 | €612,717 | -€140,372 | -18.6% |
| Advances received on contracts in progress | 46 | - | €89,704 | +€89,704 | |
| Taxes, remuneration and social security | 45 | €289,925 | €458,405 | +€168,480 | +58.1% |
| Taxes | 450/3 | €111,806 | €256,858 | +€145,052 | +130% |
| Remuneration and social security | 454/9 | €178,119 | €201,547 | +€23,428 | +13.2% |
| Accrued charges and deferred income | 492/3 | €299,573 | €9,228 | -€290,345 | -96.9% |
| Non-recurring operating income | 76A | €41,592 | €653,427 | +€611,835 | +1,471% |
| Remuneration, social security and pensions | 62 | €2,036,359 | €2,203,105 | +€166,746 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,202 | €165,854 | +€15,652 | +10.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €243,091 | +€243,091 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€14,000 | - | +€14,000 | |
| Other operating charges | 640/8 | €34,377 | €36,736 | +€2,359 | +6.9% |
| Non-recurring operating charges | 66A | €8,575 | €832 | -€7,743 | -90.3% |
| Gross operating margin | 9900 | €2,304,168 | €3,685,849 | +€1.4m | +60.0% |
| Operating profit (loss) | 9901 | €88,655 | €1,036,231 | +€947,576 | +1,069% |
| Financial income | 75/76B | €22,309 | €7,862 | -€14,447 | -64.8% |
| Recurring financial income | 75 | €22,309 | €7,862 | -€14,447 | -64.8% |
| Financial charges | 65/66B | €107,902 | €95,401 | -€12,501 | -11.6% |
| Recurring financial charges | 65 | €107,902 | €95,401 | -€12,501 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €3,062 | €948,692 | +€945,630 | +30,883% |
| Income taxes | 67/77 | €16,860 | €249,986 | +€233,126 | +1,383% |
| Profit (loss) for the period | 9904 | -€13,798 | €698,706 | +€712,504 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,798 | €698,706 | +€712,504 |
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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 2 November 2026 via checked.be.