THERMIC ENGINEERING: 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.
THERMIC ENGINEERING
Largest movements
- Receivables within one year +€36,287
up €36,287 (+2.0%), from €1.8m to €1.9m
of which Trade receivables: +€36,564
- Debts after one year +€135,700
up €135,700 (+7.2%), from €1.9m to €2.0m
- Profit (loss) carried forward -€53,816
down €53,816 (-12.2%), from -€441,085 to -€494,901
- Short-term financial debts -€45,597
down €45,597 (-54.0%), from €84,486 to €38,889
- Turnover +€99,732
new in 2025: €99,732
- Gross operating margin -€61,078
down €61,078 (-89.3%), from €68,416 to €7,338
- Purchases and services +€59,780
up €59,780 (+183%), from €32,614 to €92,394
- Financial charges -€1,400
down €1,400 (-4.2%), from €33,134 to €31,734
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.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,846,270 | €1,882,557 | +€36,287 | +2.0% |
| Current assets | 29/58 | €1,846,270 | €1,882,557 | +€36,287 | +2.0% |
| Amounts receivable within one year | 40/41 | €1,846,270 | €1,882,557 | +€36,287 | +2.0% |
| Trade receivables | 40 | €1,845,993 | €1,882,557 | +€36,564 | +2.0% |
| Other amounts receivable | 41 | €277 | - | -€277 | |
| Total equity and liabilities | 10/49 | €1,846,270 | €1,882,557 | +€36,287 | +2.0% |
| Equity | 10/15 | -€372,885 | -€426,701 | -€53,816 | -14.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€441,085 | -€494,901 | -€53,816 | -12.2% |
| Provisions and deferred taxes | 16 | €258,076 | €258,076 | +€0 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €258,076 | €258,076 | +€0 | 0.0% |
| Other liabilities and charges | 164/5 | €258,076 | €258,076 | +€0 | 0.0% |
| Amounts payable | 17/49 | €1,961,079 | €2,051,182 | +€90,103 | +4.6% |
| Amounts payable after more than one year | 17 | €1,873,644 | €2,009,344 | +€135,700 | +7.2% |
| Financial debts | 170/4 | €762,126 | €783,103 | +€20,977 | +2.8% |
| Trade debts | 175 | €1,111,518 | €1,164,268 | +€52,750 | +4.7% |
| Other amounts payable | 178/9 | - | €61,973 | +€61,973 | |
| Amounts payable within one year | 42/48 | €87,435 | €41,838 | -€45,597 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Financial debts | 43 | €84,486 | €38,889 | -€45,597 | -54.0% |
| Credit institutions | 430/8 | €84,486 | €38,889 | -€45,597 | -54.0% |
| Taxes, remuneration and social security | 45 | €2,949 | €2,949 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,949 | €2,949 | = | 0.0% |
| Turnover | 70 | - | €99,732 | +€99,732 | |
| Goods, raw materials, services and sundry goods | 60/61 | €32,614 | €92,394 | +€59,780 | +183% |
| Remuneration, social security and pensions | 62 | €28,603 | €29,420 | +€817 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Gross operating margin | 9900 | €68,416 | €7,338 | -€61,078 | -89.3% |
| Operating profit (loss) | 9901 | €39,813 | -€22,082 | -€61,895 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €33,134 | €31,734 | -€1,400 | -4.2% |
| Recurring financial charges | 65 | €33,134 | €31,734 | -€1,400 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €6,679 | -€53,816 | -€60,495 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €6,679 | -€53,816 | -€60,495 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,679 | -€53,816 | -€60,495 |
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 28 October 2026 via checked.be.