Thermica: 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.
Thermica
Largest movements
- Cash -€3,187
down €3,187 (-97.4%), from €3,273 to €86
mainly Net result for the year (-€2,633) and Trade debts (-€2,328)
- Tangible fixed assets -€2,336
no longer reported in 2025 (was €2,336)
- Receivables within one year +€1,551
up €1,551 (+522%), from €297 to €1,848
- Stocks and contracts -€990
no longer reported in 2025 (was €990)
- Profit (loss) carried forward -€2,633
down €2,633 (-30.8%), from -€8,555 to -€11,189
- Trade debts -€2,328
no longer reported in 2025 (was €2,328)
- Gross operating margin +€6,760
up €6,760, from -€6,755 to €6
- Depreciation -€1,240
no longer reported in 2025 (was €1,240)
- Financial income -€385
down €385 (-99.5%), from €387 to €2
- Financial charges -€144
down €144 (-81.2%), from €177 to €33
- Taxes -€68
no longer reported in 2025 (was €68)
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
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 | €6,897 | €1,935 | -€4,962 | -71.9% |
| Fixed assets | 21/28 | €2,336 | - | -€2,336 | |
| Tangible fixed assets | 22/27 | €2,336 | - | -€2,336 | |
| Furniture and vehicles | 24 | €2,336 | - | -€2,336 | |
| Current assets | 29/58 | €4,560 | €1,935 | -€2,625 | -57.6% |
| Stocks and contracts in progress | 3 | €990 | - | -€990 | |
| Stocks | 30/36 | €990 | - | -€990 | |
| Amounts receivable within one year | 40/41 | €297 | €1,848 | +€1,551 | +522% |
| Other amounts receivable | 41 | €297 | €1,848 | +€1,551 | +522% |
| Cash at bank and in hand | 54/58 | €3,273 | €86 | -€3,187 | -97.4% |
| Total equity and liabilities | 10/49 | €6,897 | €1,935 | -€4,962 | -71.9% |
| Equity | 10/15 | €4,568 | €1,935 | -€2,633 | -57.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €6,124 | €6,124 | = | 0.0% |
| Distributable reserves | 133 | €6,124 | €6,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,555 | -€11,189 | -€2,633 | -30.8% |
| Amounts payable | 17/49 | €2,328 | - | -€2,328 | |
| Amounts payable within one year | 42/48 | €2,328 | - | -€2,328 | |
| Trade debts | 44 | €2,328 | - | -€2,328 | |
| Suppliers | 440/4 | €2,328 | - | -€2,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,240 | - | -€1,240 | |
| Other operating charges | 640/8 | €703 | €671 | -€32 | -4.5% |
| Non-recurring operating charges | 66A | - | €1,936 | +€1,936 | |
| Gross operating margin | 9900 | -€6,755 | €6 | +€6,760 | |
| Operating profit (loss) | 9901 | -€8,698 | -€2,602 | +€6,096 | +70.1% |
| Financial income | 75/76B | €387 | €2 | -€385 | -99.5% |
| Recurring financial income | 75 | €387 | €2 | -€385 | -99.5% |
| Financial charges | 65/66B | €177 | €33 | -€144 | -81.2% |
| Recurring financial charges | 65 | €177 | €33 | -€144 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,488 | -€2,633 | +€5,854 | +69.0% |
| Income taxes | 67/77 | €68 | - | -€68 | |
| Profit (loss) for the period | 9904 | -€8,555 | -€2,633 | +€5,922 | +69.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,555 | -€2,633 | +€5,922 | +69.2% |
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 29 October 2026 via checked.be.