ThermiConcept: 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.
ThermiConcept
Largest movements
- Tangible fixed assets -€7,802
down €7,802 (-40.4%), from €19,334 to €11,532
- Cash +€7,334
up €7,334 (+305%), from €2,406 to €9,740
mainly Depreciation (+€7,802) and Current portion of long-term debt (+€5,714)
- Receivables within one year -€2,519
down €2,519 (-9.7%), from €26,087 to €23,568
of which Trade receivables: -€4,163
- Deferred charges and accrued income -€2,080
no longer reported in 2025 (was €2,080)
- Debts after one year -€11,157
down €11,157 (-55.1%), from €20,267 to €9,110
- Current portion of long-term debt +€5,714
new in 2025: €5,714
- Gross operating margin -€23,567
down €23,567 (-71.9%), from €32,792 to €9,225
- Depreciation +€3,731
up €3,731 (+91.6%), from €4,071 to €7,802
- Other operating charges -€502
down €502 (-86.3%), from €582 to €80
- Financial charges +€345
up €345 (+53.4%), from €646 to €991
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 | €49,907 | €44,840 | -€5,067 | -10.2% |
| Fixed assets | 21/28 | €19,334 | €11,532 | -€7,802 | -40.4% |
| Tangible fixed assets | 22/27 | €19,334 | €11,532 | -€7,802 | -40.4% |
| Furniture and vehicles | 24 | €19,334 | €11,532 | -€7,802 | -40.4% |
| Current assets | 29/58 | €30,573 | €33,308 | +€2,735 | +8.9% |
| Amounts receivable within one year | 40/41 | €26,087 | €23,568 | -€2,519 | -9.7% |
| Trade receivables | 40 | €7,013 | €2,850 | -€4,163 | -59.4% |
| Other amounts receivable | 41 | €19,074 | €20,718 | +€1,644 | +8.6% |
| Cash at bank and in hand | 54/58 | €2,406 | €9,740 | +€7,334 | +305% |
| Deferred charges and accrued income | 490/1 | €2,080 | - | -€2,080 | |
| Total equity and liabilities | 10/49 | €49,907 | €44,840 | -€5,067 | -10.2% |
| Equity | 10/15 | €29,246 | €29,599 | +€353 | +1.2% |
| Contributions | 10/11 | €1,750 | €1,750 | = | 0.0% |
| Capital | 10 | €1,750 | €1,750 | = | 0.0% |
| Issued capital | 100 | €1,750 | €1,750 | = | 0.0% |
| Reserves | 13 | €175 | €175 | = | 0.0% |
| Non-distributable reserves | 130/1 | €175 | €175 | = | 0.0% |
| Legal reserve | 130 | €175 | €175 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,321 | €27,674 | +€353 | +1.3% |
| Amounts payable | 17/49 | €20,661 | €15,241 | -€5,420 | -26.2% |
| Amounts payable after more than one year | 17 | €20,267 | €9,110 | -€11,157 | -55.1% |
| Financial debts | 170/4 | €20,267 | €9,110 | -€11,157 | -55.1% |
| Amounts payable within one year | 42/48 | €394 | €6,131 | +€5,737 | +1,456% |
| Current portion of amounts payable after more than one year | 42 | - | €5,714 | +€5,714 | |
| Trade debts | 44 | €394 | €417 | +€23 | +5.9% |
| Suppliers | 440/4 | €394 | €417 | +€23 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,071 | €7,802 | +€3,731 | +91.6% |
| Other operating charges | 640/8 | €582 | €80 | -€502 | -86.3% |
| Gross operating margin | 9900 | €32,792 | €9,225 | -€23,567 | -71.9% |
| Operating profit (loss) | 9901 | €28,139 | €1,344 | -€26,795 | -95.2% |
| Financial income | 75/76B | €3 | - | -€3 | |
| Recurring financial income | 75 | €3 | - | -€3 | |
| Financial charges | 65/66B | €646 | €991 | +€345 | +53.4% |
| Recurring financial charges | 65 | €646 | €991 | +€345 | +53.4% |
| Profit (loss) for the period before taxes | 9903 | €27,496 | €353 | -€27,143 | -98.7% |
| Profit (loss) for the period | 9904 | €27,496 | €353 | -€27,143 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,496 | €353 | -€27,143 | -98.7% |
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 19 October 2026 via checked.be.