ThermoTech HK: 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.
ThermoTech HK
Largest movements
- Receivables within one year +€20,676
up €20,676 (+78.0%), from €26,517 to €47,193
of which Trade receivables: +€43,832
- Stocks and contracts -€3,290
down €3,290 (-53.5%), from €6,145 to €2,855
- Tangible fixed assets +€2,436
up €2,436 (+72.2%), from €3,372 to €5,808
of which Plant, machinery and equipment: +€1,871
- Deferred charges and accrued income +€840
new in 2025: €840
- Trade debts +€18,943
up €18,943 (+440%), from €4,304 to €23,247
- Tax, wage and social debts -€4,239
down €4,239 (-46.8%), from €9,063 to €4,825
- Other debts +€3,479
up €3,479 (+435%), from €800 to €4,279
- Advances received +€3,200
new in 2025: €3,200
- Gross operating margin -€32,393
down €32,393 (-89.4%), from €36,252 to €3,860
- Taxes -€8,302
down €8,302 (-91.6%), from €9,063 to €761
- Depreciation +€1,437
new in 2025: €1,437
- Other operating charges +€686
new in 2025: €686
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 | €44,056 | €65,302 | +€21,246 | +48.2% |
| Fixed assets | 21/28 | €3,372 | €5,808 | +€2,436 | +72.2% |
| Tangible fixed assets | 22/27 | €3,372 | €5,808 | +€2,436 | +72.2% |
| Plant, machinery and equipment | 23 | - | €1,871 | +€1,871 | |
| Furniture and vehicles | 24 | €3,372 | €3,321 | -€51 | -1.5% |
| Other tangible fixed assets | 26 | - | €615 | +€615 | |
| Current assets | 29/58 | €40,684 | €59,494 | +€18,810 | +46.2% |
| Stocks and contracts in progress | 3 | €6,145 | €2,855 | -€3,290 | -53.5% |
| Stocks | 30/36 | €6,145 | €2,855 | -€3,290 | -53.5% |
| Amounts receivable within one year | 40/41 | €26,517 | €47,193 | +€20,676 | +78.0% |
| Trade receivables | 40 | €333 | €44,165 | +€43,832 | +13,163% |
| Other amounts receivable | 41 | €26,184 | €3,028 | -€23,155 | -88.4% |
| Cash at bank and in hand | 54/58 | €8,022 | €8,606 | +€584 | +7.3% |
| Deferred charges and accrued income | 490/1 | - | €840 | +€840 | |
| Total equity and liabilities | 10/49 | €44,056 | €65,302 | +€21,246 | +48.2% |
| Equity | 10/15 | €29,889 | €29,752 | -€137 | -0.5% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €26,389 | €26,252 | -€137 | -0.5% |
| Distributable reserves | 133 | €26,389 | €26,252 | -€137 | -0.5% |
| Amounts payable | 17/49 | €14,167 | €35,550 | +€21,383 | +151% |
| Amounts payable within one year | 42/48 | €14,167 | €35,550 | +€21,383 | +151% |
| Trade debts | 44 | €4,304 | €23,247 | +€18,943 | +440% |
| Suppliers | 440/4 | €4,304 | €23,247 | +€18,943 | +440% |
| Advances received on contracts in progress | 46 | - | €3,200 | +€3,200 | |
| Taxes, remuneration and social security | 45 | €9,063 | €4,825 | -€4,239 | -46.8% |
| Taxes | 450/3 | €9,063 | €4,825 | -€4,239 | -46.8% |
| Other amounts payable | 47/48 | €800 | €4,279 | +€3,479 | +435% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,437 | +€1,437 | |
| Other operating charges | 640/8 | - | €686 | +€686 | |
| Gross operating margin | 9900 | €36,252 | €3,860 | -€32,393 | -89.4% |
| Operating profit (loss) | 9901 | €36,252 | €1,736 | -€34,516 | -95.2% |
| Financial income | 75/76B | - | €41 | +€41 | |
| Recurring financial income | 75 | - | €41 | +€41 | |
| Financial charges | 65/66B | - | €353 | +€353 | |
| Recurring financial charges | 65 | - | €353 | +€353 | |
| Profit (loss) for the period before taxes | 9903 | €36,252 | €1,424 | -€34,828 | -96.1% |
| Income taxes | 67/77 | €9,063 | €761 | -€8,302 | -91.6% |
| Profit (loss) for the period | 9904 | €27,189 | €663 | -€26,526 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,189 | €663 | -€26,526 | -97.6% |
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 27 October 2026 via checked.be.