THERMOGENE: 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.
THERMOGENE
Largest movements
- Receivables within one year +€10,858
up €10,858 (+41.0%), from €26,479 to €37,337
of which Other amounts receivable: +€9,658
- Cash +€4,132
up €4,132 (+107.4%), from €3,847 to €7,979
mainly Net result for the year (+€8,307) and Tax, wage and social debts (+€3,589)
- Intangible fixed assets -€1,173
down €1,173 (-38.3%), from €3,066 to €1,892
- Deferred charges and accrued income +€858
up €858 (+35.4%), from €2,424 to €3,282
- Profit (loss) carried forward +€8,108
up €8,108 (+28.7%), from €28,299 to €36,407
- Tax, wage and social debts +€3,589
up €3,589 (+128.2%), from €2,798 to €6,387
- Trade debts +€2,711
up €2,711 (+52.7%), from €5,140 to €7,850
- Gross operating margin +€5,725
up €5,725 (+46.6%), from €12,285 to €18,010
- Financial charges +€2,262
up €2,262 (+1167.0%), from €194 to €2,455
- Depreciation +€1,371
up €1,371 (+96.7%), from €1,418 to €2,788
- Taxes +€793
up €793 (+28.3%), from €2,798 to €3,591
- Other operating charges +€455
up €455 (+110.0%), from €413 to €868
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 | €39,237 | €53,645 | +€14,408 | +36.7% |
| Fixed assets | 21/28 | €6,488 | €5,047 | -€1,440 | -22.2% |
| Intangible fixed assets | 21 | €3,066 | €1,892 | -€1,173 | -38.3% |
| Tangible fixed assets | 22/27 | €3,422 | €3,155 | -€267 | -7.8% |
| Plant, machinery and equipment | 23 | - | €942 | +€942 | |
| Furniture and vehicles | 24 | €1,092 | €669 | -€423 | -38.8% |
| Leasing and similar rights | 25 | €2,330 | €1,545 | -€785 | -33.7% |
| Current assets | 29/58 | €32,750 | €48,597 | +€15,848 | +48.4% |
| Amounts receivable within one year | 40/41 | €26,479 | €37,337 | +€10,858 | +41.0% |
| Trade receivables | 40 | €8,214 | €9,413 | +€1,200 | +14.6% |
| Other amounts receivable | 41 | €18,265 | €27,924 | +€9,658 | +52.9% |
| Cash at bank and in hand | 54/58 | €3,847 | €7,979 | +€4,132 | +107.4% |
| Deferred charges and accrued income | 490/1 | €2,424 | €3,282 | +€858 | +35.4% |
| Total equity and liabilities | 10/49 | €39,237 | €53,645 | +€14,408 | +36.7% |
| Equity | 10/15 | €31,299 | €39,407 | +€8,108 | +25.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,299 | €36,407 | +€8,108 | +28.7% |
| Amounts payable | 17/49 | €7,938 | €14,238 | +€6,300 | +79.4% |
| Amounts payable within one year | 42/48 | €7,938 | €14,238 | +€6,300 | +79.4% |
| Trade debts | 44 | €5,140 | €7,850 | +€2,711 | +52.7% |
| Suppliers | 440/4 | €5,140 | €7,850 | +€2,711 | +52.7% |
| Taxes, remuneration and social security | 45 | €2,798 | €6,387 | +€3,589 | +128.2% |
| Taxes | 450/3 | €2,798 | €6,387 | +€3,589 | +128.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,418 | €2,788 | +€1,371 | +96.7% |
| Other operating charges | 640/8 | €413 | €868 | +€455 | +110.0% |
| Gross operating margin | 9900 | €12,285 | €18,010 | +€5,725 | +46.6% |
| Operating profit (loss) | 9901 | €10,454 | €14,354 | +€3,899 | +37.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €194 | €2,455 | +€2,262 | +1167.0% |
| Recurring financial charges | 65 | €194 | €2,455 | +€2,262 | +1167.0% |
| Profit (loss) for the period before taxes | 9903 | €10,261 | €11,898 | +€1,638 | +16.0% |
| Income taxes | 67/77 | €2,798 | €3,591 | +€793 | +28.3% |
| Profit (loss) for the period | 9904 | €7,462 | €8,307 | +€845 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,462 | €8,307 | +€845 | +11.3% |
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 9 October 2026 via checked.be.