How much does Thermax Europe Limited make?

Thermax Europe Limited reported revenue of £5.3m and £412k profit in the year to 31 Mar 2026, according to its accounts filed at Companies House.

How many employees does Thermax Europe Limited have?

Thermax Europe Limited reported an average of 8 employees in the year to 31 Mar 2026.

Is Thermax Europe Limited profitable?

Yes — Thermax Europe Limited reported a profit of £412k in the year to 31 Mar 2026.

Company No. 03183441 · Incorporated 9 Apr 1996

Thermax Europe Limited

Registered name: THERMAX EUROPE LIMITED

Thermax Europe Limited made £5.3m revenue and £412k profit in the year to 31 Mar 2026.

Thermax Europe Limited’s revenue grew 40% to £5.3m in the year to 31 Mar 2026, with £412k profit and 8 employees. The company is classified under “other engineering activities” and is based in Milton Keynes; we hold 4 years of its filed accounts.

Full P&L filedSection M · Professional, scientific and technical activitiesSIC 71129Other engineering activities

Status: Active
Location: Milton Keynes, South East
Age: 30 yrs · since 1996
Type: Private Limited Company

Latest accounts · year to 31 Mar 2026

Key figures

IndependentSmall teamCapital-lightOperating leverageCash flow filed

Revenue

£5.3m

Growth ▲40.1%

Profit

£412k

Growth ▲251.6%

Profit margin

7.8%

Gross 22.5%

Employees

Change ▲14.3%

Profit / employee

£51.5k

Revenue/employee £664k

Profitable streak

4yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Mar 2023	31 Mar 2024	31 Mar 2025	31 Mar 2026
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£6.1m	£5.8m	£3.8m	£5.3m
Cost of sales	£5.2m	£4.4m	£2.8m	£4.1m
Gross profit	£877k	£1.3m	£1m	£1.2m
Operating profit	£247k	£210k	−£48.9k	£369k
Profit before tax	£302k	£345k	£152k	£554k
Profit after tax	£244k	£256k	£117k	£412k
Profit (best available)	£244k	£256k	£117k	£412k
Staff costs	£366k	£366k	£337k	£387k
Employees (average)	8	8	7	8
Ratios
Profit margin	4%	4.5%	3.1%	7.8%
Gross margin	14.3%	23.1%	26.6%	22.5%
Revenue per employee	£764k	£719k	£541k	£664k
Profit per employee	£30.5k	£32k	£16.8k	£51.5k
Cash conversion	−768.4%	−73.5%	—	−229.7%
Growth (year on year)
Revenue growth	—	▼5.9%	▼34.2%	▲40.1%
Profit growth	—	▲4.9%	▼54.2%	▲251.6%
Headcount growth	—	0%	▼12.5%	▲14.3%
Balance sheet — indirect signals, not revenue
Cash at bank	£2.8m	£5.6m	£6.2m	£7.2m
Net assets	£6.6m	£6.8m	£7m	£7.4m
Fixed assets	£7.8k	£6.8k	£3.7k	£2.5k
Current assets	£8.5m	£7.5m	£9.9m	£8.5m
Debtors	£1.6m	£1.3m	£2.2m	£263k
Cash from operations	−£1.9m	−£154k	−£454k	−£847k
Source	FullAccounts · bulk data Jun 2024	FullAccounts · bulk data Jun 2024	FullAccounts · bulk data Jun 2025	FullAccounts · bulk data Jun 2026

Derived from the latest filing

How the business works

Profit margin: 7.8%; Profit ÷ revenue.
Gross margin: 22.5%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £664k; Revenue ÷ average employees.
Profit per employee: £51.5k; Profit ÷ average employees.
Cash conversion: −229.7%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.1%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: —; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 5%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲6%; Now £7.4m
Cash at bank: ▲16%; Now £7.2m
Headcount: ▲14%; Now 8
Deferred income: —; Now —
Fixed assets: ▼31%; Now £2.5k

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Mar 2026 (profit £412k), from the Companies House accounts bulk data published Jun 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.