Thermo Dias: what changed
Thermo Dias
Largest movements
- Tangible fixed assets +€25,430
up €25,430 (+396%), from €6,419 to €31,849
of which Furniture and vehicles: +€26,040
- Receivables within one year +€21,229
up €21,229 (+48.1%), from €44,116 to €65,345
of which Trade receivables: +€22,898
- Cash -€14,356
down €14,356 (-21.1%), from €68,002 to €53,646
mainly Investment in fixed assets (net) (-€37,745) and Receivables within one year (-€21,229)
- Debts after one year +€40,000
new in 2025: €40,000
- Tax, wage and social debts -€8,847
down €8,847 (-56.8%), from €15,569 to €6,722
- Trade debts +€6,616
up €6,616 (+20.7%), from €32,003 to €38,619
- Current portion of long-term debt -€4,444
no longer reported in 2025 (was €4,444)
- Other debts -€2,210
down €2,210 (-39.5%), from €5,595 to €3,385
- Gross operating margin -€32,505
down €32,505 (-78.9%), from €41,211 to €8,706
- Write-downs -€21,154
down €21,154, from €10,577 to -€10,577
- Depreciation +€6,025
up €6,025 (+95.8%), from €6,291 to €12,316
- Taxes -€2,278
down €2,278 (-33.1%), from €6,880 to €4,602
- Financial charges -€778
down €778 (-76.3%), from €1,019 to €241
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,537 | €150,840 | +€32,303 | +27.3% |
| Fixed assets | 21/28 | €6,419 | €31,849 | +€25,430 | +396% |
| Tangible fixed assets | 22/27 | €6,419 | €31,849 | +€25,430 | +396% |
| Plant, machinery and equipment | 23 | €820 | €209 | -€611 | -74.5% |
| Furniture and vehicles | 24 | €5,599 | €31,639 | +€26,040 | +465% |
| Current assets | 29/58 | €112,118 | €118,992 | +€6,874 | +6.1% |
| Amounts receivable within one year | 40/41 | €44,116 | €65,345 | +€21,229 | +48.1% |
| Trade receivables | 40 | €37,826 | €60,724 | +€22,898 | +60.5% |
| Other amounts receivable | 41 | €6,290 | €4,621 | -€1,669 | -26.5% |
| Cash at bank and in hand | 54/58 | €68,002 | €53,646 | -€14,356 | -21.1% |
| Total equity and liabilities | 10/49 | €118,537 | €150,840 | +€32,303 | +27.3% |
| Equity | 10/15 | €60,434 | €61,621 | +€1,187 | +2.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,234 | €61,421 | +€1,187 | +2.0% |
| Amounts payable | 17/49 | €58,103 | €89,219 | +€31,116 | +53.6% |
| Amounts payable after more than one year | 17 | - | €40,000 | +€40,000 | |
| Financial debts | 170/4 | - | €40,000 | +€40,000 | |
| Amounts payable within one year | 42/48 | €58,103 | €49,219 | -€8,884 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €4,444 | - | -€4,444 | |
| Trade debts | 44 | €32,003 | €38,619 | +€6,616 | +20.7% |
| Suppliers | 440/4 | €32,003 | €38,619 | +€6,616 | +20.7% |
| Advances received on contracts in progress | 46 | €492 | €492 | +€0 | +0.1% |
| Taxes, remuneration and social security | 45 | €15,569 | €6,722 | -€8,847 | -56.8% |
| Taxes | 450/3 | €15,569 | €6,722 | -€8,847 | -56.8% |
| Other amounts payable | 47/48 | €5,595 | €3,385 | -€2,210 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,291 | €12,316 | +€6,025 | +95.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,577 | -€10,577 | -€21,154 | |
| Other operating charges | 640/8 | €1,614 | €937 | -€677 | -41.9% |
| Gross operating margin | 9900 | €41,211 | €8,706 | -€32,505 | -78.9% |
| Operating profit (loss) | 9901 | €22,729 | €6,030 | -€16,699 | -73.5% |
| Financial income | 75/76B | €710 | - | -€710 | |
| Recurring financial income | 75 | €710 | - | -€710 | |
| Financial charges | 65/66B | €1,019 | €241 | -€778 | -76.3% |
| Recurring financial charges | 65 | €1,019 | €241 | -€778 | -76.3% |
| Profit (loss) for the period before taxes | 9903 | €22,420 | €5,789 | -€16,631 | -74.2% |
| Income taxes | 67/77 | €6,880 | €4,602 | -€2,278 | -33.1% |
| Profit (loss) for the period | 9904 | €15,540 | €1,187 | -€14,353 | -92.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,540 | €1,187 | -€14,353 | -92.4% |
Next steps
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 3 November 2026 via checked.be.