THERMO TRAFFIC TRADE: 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 TRAFFIC TRADE
Largest movements
- Cash +€25,904
up €25,904 (+104%), from €24,864 to €50,768
mainly Advances received (+€90,390) and Net result for the year (+€30,403)
- Receivables within one year -€9,406
down €9,406 (-18.6%), from €50,582 to €41,176
of which Other amounts receivable: -€12,689
- Stocks and contracts +€7,567
up €7,567 (+5.9%), from €127,450 to €135,017
- Tangible fixed assets -€4,073
down €4,073 (-16.1%), from €25,233 to €21,160
of which Other tangible fixed assets: -€4,490
- Formation expenses -€4,000
down €4,000 (-33.3%), from €12,000 to €8,000
- Advances received +€90,390
new in 2025: €90,390
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Current portion of long-term debt -€13,544
down €13,544 (-51.7%), from €26,196 to €12,652
- Reserves +€13,310
up €13,310 (+23.3%), from €57,065 to €70,374
of which Distributable reserves: +€13,310
- Debts after one year -€12,652
down €12,652 (-35.2%), from €35,895 to €23,243
- Gross operating margin +€30,829
up €30,829 (+34.5%), from €89,251 to €120,079
- Taxes +€8,803
up €8,803 (+236%), from €3,734 to €12,537
- Other operating charges -€2,625
down €2,625 (-40.8%), from €6,428 to €3,803
- Financial charges -€2,291
down €2,291 (-27.9%), from €8,222 to €5,932
- Staff costs +€1,992
up €1,992 (+3.5%), from €56,553 to €58,544
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 | €255,992 | €271,888 | +€15,896 | +6.2% |
| Formation expenses | 20 | €12,000 | €8,000 | -€4,000 | -33.3% |
| Fixed assets | 21/28 | €38,183 | €34,103 | -€4,080 | -10.7% |
| Intangible fixed assets | 21 | €10,000 | €10,052 | +€52 | +0.5% |
| Tangible fixed assets | 22/27 | €25,233 | €21,160 | -€4,073 | -16.1% |
| Plant, machinery and equipment | 23 | €2,799 | €2,151 | -€648 | -23.2% |
| Furniture and vehicles | 24 | €383 | €1,448 | +€1,065 | +278% |
| Other tangible fixed assets | 26 | €22,052 | €17,562 | -€4,490 | -20.4% |
| Financial fixed assets | 28 | €2,950 | €2,890 | -€60 | -2.0% |
| Current assets | 29/58 | €205,809 | €229,785 | +€23,976 | +11.6% |
| Stocks and contracts in progress | 3 | €127,450 | €135,017 | +€7,567 | +5.9% |
| Stocks | 30/36 | €127,450 | €135,017 | +€7,567 | +5.9% |
| Amounts receivable within one year | 40/41 | €50,582 | €41,176 | -€9,406 | -18.6% |
| Trade receivables | 40 | €16,465 | €19,748 | +€3,283 | +19.9% |
| Other amounts receivable | 41 | €34,117 | €21,428 | -€12,689 | -37.2% |
| Cash at bank and in hand | 54/58 | €24,864 | €50,768 | +€25,904 | +104% |
| Deferred charges and accrued income | 490/1 | €2,913 | €2,823 | -€89 | -3.1% |
| Total equity and liabilities | 10/49 | €255,992 | €271,888 | +€15,896 | +6.2% |
| Equity | 10/15 | €75,657 | €88,966 | +€13,310 | +17.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €57,065 | €70,374 | +€13,310 | +23.3% |
| Non-distributable reserves | 130/1 | €900 | €900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €900 | €900 | = | 0.0% |
| Distributable reserves | 133 | €56,165 | €69,474 | +€13,310 | +23.7% |
| Amounts payable | 17/49 | €180,335 | €182,921 | +€2,586 | +1.4% |
| Amounts payable after more than one year | 17 | €35,895 | €23,243 | -€12,652 | -35.2% |
| Financial debts | 170/4 | €35,895 | €23,243 | -€12,652 | -35.2% |
| Amounts payable within one year | 42/48 | €144,440 | €159,678 | +€15,238 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €26,196 | €12,652 | -€13,544 | -51.7% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €37,328 | €35,049 | -€2,279 | -6.1% |
| Suppliers | 440/4 | €37,328 | €35,049 | -€2,279 | -6.1% |
| Advances received on contracts in progress | 46 | - | €90,390 | +€90,390 | |
| Taxes, remuneration and social security | 45 | €30,916 | €21,587 | -€9,328 | -30.2% |
| Taxes | 450/3 | €26,973 | €16,105 | -€10,868 | -40.3% |
| Remuneration and social security | 454/9 | €3,943 | €5,482 | +€1,540 | +39.0% |
| Remuneration, social security and pensions | 62 | €56,553 | €58,544 | +€1,992 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,360 | €9,302 | -€1,058 | -10.2% |
| Other operating charges | 640/8 | €6,428 | €3,803 | -€2,625 | -40.8% |
| Gross operating margin | 9900 | €89,251 | €120,079 | +€30,829 | +34.5% |
| Operating profit (loss) | 9901 | €15,910 | €48,430 | +€32,520 | +204% |
| Financial income | 75/76B | €855 | €442 | -€413 | -48.4% |
| Recurring financial income | 75 | €855 | €442 | -€413 | -48.4% |
| Financial charges | 65/66B | €8,222 | €5,932 | -€2,291 | -27.9% |
| Recurring financial charges | 65 | €8,222 | €5,932 | -€2,291 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €8,542 | €42,940 | +€34,398 | +403% |
| Income taxes | 67/77 | €3,734 | €12,537 | +€8,803 | +236% |
| Profit (loss) for the period | 9904 | €4,808 | €30,403 | +€25,595 | +532% |
| Profit (loss) for the period to be appropriated | 9905 | €4,808 | €30,403 | +€25,595 | +532% |
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 26 October 2026 via checked.be.