THERMOTRADE: what changed
What changed
THERMOTRADE
NACE 46.836, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€16,336
2024 · -€25,100+€41,436
Equity
€63,652
2024 · €47,316+€16,336
Cash
€7,937
2024 · €4,827+€3,109
Balance sheet total
€353,652
2024 · €336,008+€17,644
Largest movements
Assets
- Stocks and contracts +€29,721
up €29,721 (+41.9%), from €70,877 to €100,598
- Tangible fixed assets -€10,861
down €10,861 (-4.5%), from €243,679 to €232,819
of which Land and buildings: -€11,914
- Receivables within one year -€4,619
down €4,619 (-30.8%), from €14,999 to €10,379
of which Trade receivables: -€4,929
Equity and liabilities
- Debts after one year -€16,431
down €16,431 (-6.6%), from €250,770 to €234,338
- Profit (loss) carried forward +€16,336
up €16,336 (+65.1%), from -€25,100 to -€8,764
- Tax, wage and social debts +€6,993
up €6,993 (+66.0%), from €10,596 to €17,589
of which Remuneration and social security: +€6,252
- Other debts +€5,329
up €5,329 (+642%), from €830 to €6,159
- Trade debts +€5,045
up €5,045 (+1,155%), from €437 to €5,482
Income statement
- Gross operating margin +€40,668
up €40,668, from -€2,687 to €37,980
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€25,100
Gross operating margin
+€40,668
Depreciation
-€21
Other operating charges
+€165
Financial income
+€256
Financial charges
+€368
Result 2025
€16,336
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€24,119
Investment
-€4,950
Financing
-€16,060
Cash 2024
€4,827
From operations (derived)
+€24,119
Net result for the year
+€16,336
Depreciation
+€15,811
Stocks and contracts
-€29,721
Receivables within one year
+€4,619
Deferred charges and accrued income
-€294
Trade debts
+€5,045
Tax, wage and social debts
+€6,993
Other debts
+€5,329
Investment (derived)
-€4,950
Investment in fixed assets (net)
-€4,950
Financing
-€16,060
Debts after one year
-€16,431
Current portion of long-term debt
+€372
Cash 2025
€7,937
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €336,008 | €353,652 | +€17,644 | +5.3% |
| Fixed assets | 21/28 | €243,679 | €232,819 | -€10,861 | -4.5% |
| Tangible fixed assets | 22/27 | €243,679 | €232,819 | -€10,861 | -4.5% |
| Land and buildings | 22 | €242,579 | €230,666 | -€11,914 | -4.9% |
| Furniture and vehicles | 24 | €1,100 | €2,153 | +€1,053 | +95.7% |
| Current assets | 29/58 | €92,329 | €120,833 | +€28,505 | +30.9% |
| Stocks and contracts in progress | 3 | €70,877 | €100,598 | +€29,721 | +41.9% |
| Stocks | 30/36 | €70,877 | €100,598 | +€29,721 | +41.9% |
| Amounts receivable within one year | 40/41 | €14,999 | €10,379 | -€4,619 | -30.8% |
| Trade receivables | 40 | €14,857 | €9,928 | -€4,929 | -33.2% |
| Other amounts receivable | 41 | €142 | €452 | +€310 | +218% |
| Cash at bank and in hand | 54/58 | €4,827 | €7,937 | +€3,109 | +64.4% |
| Deferred charges and accrued income | 490/1 | €1,625 | €1,919 | +€294 | +18.1% |
| Total equity and liabilities | 10/49 | €336,008 | €353,652 | +€17,644 | +5.3% |
| Equity | 10/15 | €47,316 | €63,652 | +€16,336 | +34.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,816 | €53,816 | = | 0.0% |
| 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 | €51,956 | €53,816 | +€1,860 | +3.6% |
| Profit (loss) carried forward | 14 | -€25,100 | -€8,764 | +€16,336 | +65.1% |
| Amounts payable | 17/49 | €288,692 | €289,999 | +€1,307 | +0.5% |
| Amounts payable after more than one year | 17 | €250,770 | €234,338 | -€16,431 | -6.6% |
| Financial debts | 170/4 | €250,770 | €234,338 | -€16,431 | -6.6% |
| Amounts payable within one year | 42/48 | €37,922 | €55,661 | +€17,739 | +46.8% |
| Current portion of amounts payable after more than one year | 42 | €16,060 | €16,431 | +€372 | +2.3% |
| Trade debts | 44 | €437 | €5,482 | +€5,045 | +1,155% |
| Suppliers | 440/4 | €437 | €5,482 | +€5,045 | +1,155% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,596 | €17,589 | +€6,993 | +66.0% |
| Taxes | 450/3 | €4,875 | €5,617 | +€742 | +15.2% |
| Remuneration and social security | 454/9 | €5,721 | €11,973 | +€6,252 | +109% |
| Other amounts payable | 47/48 | €830 | €6,159 | +€5,329 | +642% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,790 | €15,811 | +€21 | +0.1% |
| Other operating charges | 640/8 | €2,455 | €2,290 | -€165 | -6.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€2,687 | €37,980 | +€40,668 | |
| Operating profit (loss) | 9901 | -€20,933 | €19,879 | +€40,812 | |
| Financial income | 75/76B | €12 | €268 | +€256 | +2,193% |
| Recurring financial income | 75 | €12 | €268 | +€256 | +2,193% |
| Financial charges | 65/66B | €4,179 | €3,811 | -€368 | -8.8% |
| Recurring financial charges | 65 | €4,179 | €3,811 | -€368 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,100 | €16,336 | +€41,436 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€25,100 | €16,336 | +€41,436 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,100 | €16,336 | +€41,436 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.