THERMO-TECH: 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-TECH
Largest movements
- Cash +€45,676
up €45,676 (+314.5%), from €14,521 to €60,198
mainly Trade debts (+€71,114) and Depreciation (+€33,674)
- Stocks and contracts +€41,039
up €41,039 (+87.2%), from €47,045 to €88,085
of which Contracts in progress: +€28,901
- Tangible fixed assets -€37,807
down €37,807 (-31.4%), from €120,359 to €82,552
of which Furniture and vehicles: -€27,661
- Trade debts +€71,114
up €71,114 (+1047.8%), from €6,787 to €77,901
- Other debts -€38,658
down €38,658 (-56.1%), from €68,968 to €30,310
- Advances received +€27,857
up €27,857 (+93.5%), from €29,795 to €57,652
- Debts after one year -€18,711
down €18,711 (-43.2%), from €43,274 to €24,563
- Reserves +€9,512
up €9,512 (+19.8%), from €48,125 to €57,637
- Gross operating margin -€64,226
down €64,226 (-55.7%), from €115,330 to €51,104
- Taxes -€15,808
down €15,808 (-79.0%), from €20,003 to €4,194
- Depreciation -€11,881
down €11,881 (-26.1%), from €45,555 to €33,674
- Financial income -€2,662
down €2,662 (-87.3%), from €3,049 to €386
of which Financial income: -€2,662
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.
Cash bridge derived
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 | €242,630 | €293,359 | +€50,729 | +20.9% |
| Fixed assets | 21/28 | €126,411 | €88,234 | -€38,177 | -30.2% |
| Intangible fixed assets | 21 | €1,372 | €1,002 | -€370 | -27.0% |
| Tangible fixed assets | 22/27 | €120,359 | €82,552 | -€37,807 | -31.4% |
| Plant, machinery and equipment | 23 | €10,784 | €5,239 | -€5,545 | -51.4% |
| Furniture and vehicles | 24 | €76,718 | €49,057 | -€27,661 | -36.1% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €32,857 | €28,257 | -€4,601 | -14.0% |
| Financial fixed assets | 28 | €4,680 | €4,680 | = | 0.0% |
| Current assets | 29/58 | €116,219 | €205,125 | +€88,906 | +76.5% |
| Stocks and contracts in progress | 3 | €47,045 | €88,085 | +€41,039 | +87.2% |
| Stocks | 30/36 | €44,045 | €56,184 | +€12,139 | +27.6% |
| Contracts in progress | 37 | €3,000 | €31,901 | +€28,901 | +963.4% |
| Amounts receivable within one year | 40/41 | €52,660 | €55,232 | +€2,572 | +4.9% |
| Trade receivables | 40 | €6,820 | €20,982 | +€14,162 | +207.7% |
| Other amounts receivable | 41 | €45,840 | €34,250 | -€11,589 | -25.3% |
| Cash at bank and in hand | 54/58 | €14,521 | €60,198 | +€45,676 | +314.5% |
| Deferred charges and accrued income | 490/1 | €1,992 | €1,610 | -€382 | -19.2% |
| Total equity and liabilities | 10/49 | €242,630 | €293,359 | +€50,729 | +20.9% |
| Equity | 10/15 | €54,125 | €63,637 | +€9,512 | +17.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €48,125 | €57,637 | +€9,512 | +19.8% |
| Distributable reserves | 133 | €48,125 | €57,637 | +€9,512 | +19.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €188,505 | €229,721 | +€41,217 | +21.9% |
| Amounts payable after more than one year | 17 | €43,274 | €24,563 | -€18,711 | -43.2% |
| Financial debts | 170/4 | €43,274 | €24,563 | -€18,711 | -43.2% |
| Amounts payable within one year | 42/48 | €145,030 | €204,819 | +€59,788 | +41.2% |
| Current portion of amounts payable after more than one year | 42 | €21,300 | €18,711 | -€2,589 | -12.2% |
| Financial debts | 43 | - | €8,809 | +€8,809 | |
| Credit institutions | 430/8 | - | €8,809 | +€8,809 | |
| Trade debts | 44 | €6,787 | €77,901 | +€71,114 | +1047.8% |
| Suppliers | 440/4 | €6,787 | €77,901 | +€71,114 | +1047.8% |
| Advances received on contracts in progress | 46 | €29,795 | €57,652 | +€27,857 | +93.5% |
| Taxes, remuneration and social security | 45 | €18,181 | €11,435 | -€6,746 | -37.1% |
| Taxes | 450/3 | €16,681 | €3,435 | -€13,246 | -79.4% |
| Remuneration and social security | 454/9 | €1,500 | €8,000 | +€6,500 | +433.3% |
| Other amounts payable | 47/48 | €68,968 | €30,310 | -€38,658 | -56.1% |
| Accrued charges and deferred income | 492/3 | €200 | €340 | +€140 | +69.8% |
| Non-recurring operating income | 76A | €1,203 | €497 | -€707 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,555 | €33,674 | -€11,881 | -26.1% |
| Other operating charges | 640/8 | €703 | €1,113 | +€409 | +58.2% |
| Gross operating margin | 9900 | €115,330 | €51,104 | -€64,226 | -55.7% |
| Operating profit (loss) | 9901 | €69,071 | €16,317 | -€52,754 | -76.4% |
| Financial income | 75/76B | €3,049 | €386 | -€2,662 | -87.3% |
| Recurring financial income | 75 | €3,049 | €386 | -€2,662 | -87.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,992 | €2,996 | -€996 | -24.9% |
| Recurring financial charges | 65 | €3,992 | €2,996 | -€996 | -24.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €68,128 | €13,707 | -€54,421 | -79.9% |
| Income taxes | 67/77 | €20,003 | €4,194 | -€15,808 | -79.0% |
| Profit (loss) for the period | 9904 | €48,125 | €9,512 | -€38,613 | -80.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,125 | €9,512 | -€38,613 | -80.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.