THERMOSERVICES: 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.
THERMOSERVICES
Largest movements
- Receivables within one year -€41,763
down €41,763 (-89.8%), from €46,515 to €4,752
of which Trade receivables: -€32,725
- Tangible fixed assets -€988
down €988 (-100%), from €988 to €0
- Cash +€665
up €665 (+23.9%), from €2,785 to €3,450
mainly Receivables within one year (+€41,763) and Depreciation (+€988)
- Profit (loss) carried forward -€30,268
down €30,268 (-138%), from -€21,867 to -€52,135
- Other debts -€11,998
down €11,998 (-22.0%), from €54,498 to €42,500
- Trade debts +€641
up €641 (+61.2%), from €1,047 to €1,688
- Gross operating margin -€37,336
down €37,336 (-89.4%), from €41,740 to €4,404
- Taxes +€25,249
up €25,249 (+5,376%), from €470 to €25,719
- Financial charges +€2,889
up €2,889 (+564%), from €512 to €3,401
- Depreciation -€2,682
down €2,682 (-73.1%), from €3,670 to €988
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 | €59,328 | €17,243 | -€42,086 | -70.9% |
| Fixed assets | 21/28 | €9,088 | €8,100 | -€988 | -10.9% |
| Tangible fixed assets | 22/27 | €988 | €0 | -€988 | -100% |
| Furniture and vehicles | 24 | €988 | €0 | -€988 | -100% |
| Financial fixed assets | 28 | €8,100 | €8,100 | = | 0.0% |
| Current assets | 29/58 | €50,240 | €9,143 | -€41,098 | -81.8% |
| Amounts receivable within one year | 40/41 | €46,515 | €4,752 | -€41,763 | -89.8% |
| Trade receivables | 40 | €32,725 | €0 | -€32,725 | -100% |
| Other amounts receivable | 41 | €13,790 | €4,752 | -€9,038 | -65.5% |
| Cash at bank and in hand | 54/58 | €2,785 | €3,450 | +€665 | +23.9% |
| Deferred charges and accrued income | 490/1 | €941 | €941 | = | 0.0% |
| Total equity and liabilities | 10/49 | €59,328 | €17,243 | -€42,086 | -70.9% |
| Equity | 10/15 | -€1,867 | -€32,135 | -€30,268 | -1,621% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,867 | -€52,135 | -€30,268 | -138% |
| Amounts payable | 17/49 | €61,195 | €49,378 | -€11,817 | -19.3% |
| Amounts payable after more than one year | 17 | €5,050 | €5,050 | = | 0.0% |
| Other amounts payable | 178/9 | €5,050 | €5,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,145 | €44,328 | -€11,817 | -21.0% |
| Trade debts | 44 | €1,047 | €1,688 | +€641 | +61.2% |
| Suppliers | 440/4 | €1,047 | €1,688 | +€641 | +61.2% |
| Taxes, remuneration and social security | 45 | €600 | €140 | -€461 | -76.7% |
| Taxes | 450/3 | €600 | €140 | -€461 | -76.7% |
| Other amounts payable | 47/48 | €54,498 | €42,500 | -€11,998 | -22.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,670 | €988 | -€2,682 | -73.1% |
| Other operating charges | 640/8 | €2,763 | €2,577 | -€186 | -6.7% |
| Non-recurring operating charges | 66A | €0 | €1,987 | +€1,987 | |
| Gross operating margin | 9900 | €41,740 | €4,404 | -€37,336 | -89.4% |
| Operating profit (loss) | 9901 | €35,307 | -€1,148 | -€36,455 | |
| Financial income | 75/76B | €43 | €0 | -€43 | -100% |
| Recurring financial income | 75 | €43 | €0 | -€43 | -100% |
| Financial charges | 65/66B | €512 | €3,401 | +€2,889 | +564% |
| Recurring financial charges | 65 | €512 | €3,401 | +€2,889 | +564% |
| Profit (loss) for the period before taxes | 9903 | €34,838 | -€4,549 | -€39,388 | |
| Income taxes | 67/77 | €470 | €25,719 | +€25,249 | +5,376% |
| Profit (loss) for the period | 9904 | €34,369 | -€30,268 | -€64,637 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,369 | -€30,268 | -€64,637 |
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 20 October 2026 via checked.be.