THERMOSET: 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.
THERMOSET
Largest movements
- Cash +€953
up €953 (+3,190%), from €30 to €983
mainly Trade debts (+€2,989)
- Reserves -€25,609
down €25,609 (-45.2%), from €56,598 to €30,989
of which Distributable reserves: -€23,749
- Profit (loss) carried forward +€23,843
up €23,843, from -€23,843 to €0
- Trade debts +€2,989
up €2,989, from €0 to €2,989
- Gross operating margin -€12,219
down €12,219, from €11,069 to -€1,150
- Financial income -€2,770
down €2,770 (-100%), from €2,770 to €0
- Other operating charges -€261
down €261 (-30.8%), from €848 to €587
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 | €38,955 | €40,178 | +€1,223 | +3.1% |
| Fixed assets | 21/28 | €37,442 | €37,442 | = | 0.0% |
| Financial fixed assets | 28 | €37,442 | €37,442 | = | 0.0% |
| Current assets | 29/58 | €1,513 | €2,736 | +€1,223 | +80.8% |
| Amounts receivable within one year | 40/41 | €1,483 | €1,753 | +€270 | +18.2% |
| Other amounts receivable | 41 | €1,483 | €1,753 | +€270 | +18.2% |
| Cash at bank and in hand | 54/58 | €30 | €983 | +€953 | +3,190% |
| Total equity and liabilities | 10/49 | €38,955 | €40,178 | +€1,223 | +3.1% |
| Equity | 10/15 | €38,955 | €37,189 | -€1,766 | -4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,598 | €30,989 | -€25,609 | -45.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €54,738 | €30,989 | -€23,749 | -43.4% |
| Profit (loss) carried forward | 14 | -€23,843 | €0 | +€23,843 | |
| Amounts payable | 17/49 | €0 | €2,989 | +€2,989 | |
| Amounts payable within one year | 42/48 | €0 | €2,989 | +€2,989 | |
| Trade debts | 44 | €0 | €2,989 | +€2,989 | |
| Suppliers | 440/4 | €0 | €2,989 | +€2,989 | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Other operating charges | 640/8 | €848 | €587 | -€261 | -30.8% |
| Gross operating margin | 9900 | €11,069 | -€1,150 | -€12,219 | |
| Operating profit (loss) | 9901 | €10,221 | -€1,737 | -€11,958 | |
| Financial income | 75/76B | €2,770 | €0 | -€2,770 | -100% |
| Recurring financial income | 75 | €2,770 | €0 | -€2,770 | -100% |
| Financial charges | 65/66B | €24 | €29 | +€5 | +18.8% |
| Recurring financial charges | 65 | €24 | €29 | +€5 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €12,967 | -€1,766 | -€14,733 | |
| Profit (loss) for the period | 9904 | €12,967 | -€1,766 | -€14,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,967 | -€1,766 | -€14,733 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.