Thermo's: 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.
Thermo's
Largest movements
- Receivables within one year +€5,098
up €5,098 (+16.7%), from €30,595 to €35,693
of which Other amounts receivable: +€3,373
- Cash -€3,969
down €3,969 (-82.3%), from €4,821 to €852
mainly Receivables within one year (-€5,098) and Trade debts (-€264)
- Profit (loss) carried forward +€1,264
up €1,264 (+5.0%), from €25,094 to €26,358
- Other operating charges +€1,101
up €1,101 (+284%), from €387 to €1,489
- Gross operating margin -€733
down €733 (-25.2%), from €2,904 to €2,172
- Taxes +€514
up €514, from €0 to €514
- Financial income -€360
down €360 (-22.3%), from €1,615 to €1,254
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 | €35,591 | €36,591 | +€1,000 | +2.8% |
| Fixed assets | 21/28 | €175 | €46 | -€129 | -73.9% |
| Intangible fixed assets | 21 | €175 | €46 | -€129 | -73.9% |
| Current assets | 29/58 | €35,416 | €36,545 | +€1,129 | +3.2% |
| Amounts receivable within one year | 40/41 | €30,595 | €35,693 | +€5,098 | +16.7% |
| Trade receivables | 40 | €6,598 | €8,322 | +€1,724 | +26.1% |
| Other amounts receivable | 41 | €23,998 | €27,371 | +€3,373 | +14.1% |
| Cash at bank and in hand | 54/58 | €4,821 | €852 | -€3,969 | -82.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €35,591 | €36,591 | +€1,000 | +2.8% |
| Equity | 10/15 | €33,154 | €34,418 | +€1,264 | +3.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,094 | €26,358 | +€1,264 | +5.0% |
| Amounts payable | 17/49 | €2,437 | €2,173 | -€264 | -10.8% |
| Amounts payable within one year | 42/48 | €2,437 | €2,173 | -€264 | -10.8% |
| Trade debts | 44 | €2,437 | €2,173 | -€264 | -10.8% |
| Suppliers | 440/4 | €2,437 | €2,173 | -€264 | -10.8% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €129 | €129 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €387 | €1,489 | +€1,101 | +284% |
| Gross operating margin | 9900 | €2,904 | €2,172 | -€733 | -25.2% |
| Operating profit (loss) | 9901 | €2,388 | €554 | -€1,834 | -76.8% |
| Financial income | 75/76B | €1,615 | €1,254 | -€360 | -22.3% |
| Recurring financial income | 75 | €1,615 | €1,254 | -€360 | -22.3% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €3,973 | €1,778 | -€2,194 | -55.2% |
| Income taxes | 67/77 | €0 | €514 | +€514 | |
| Profit (loss) for the period | 9904 | €3,973 | €1,264 | -€2,708 | -68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,973 | €1,264 | -€2,708 | -68.2% |
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 17 October 2026 via checked.be.