Funnily enough, I just figured it out and was about to post here when I got your reply.
So, the idea is that the broadlink code is just the ir pulse timing directly encoded in hex. After delving deeper, I figured out that 0x0E0C or any similar codes equals to a logical 1, and 0x0000 and all anamolies equal to a logical 0. Not including the broadlink header and end codes, we have 88 encoded byte pairs which translate to 44 logical bits which in turn translate to a 11 byte code.
Bytepairs in NEC codes are supposed add up to 0xFF, so I assume the first 3 bytes are some sort of header. Now its pretty clear that the last 2 bytes are what control the temperature.
That was pretty exhausting. Now I need to write a script to generate broadlink codes from this on-the-go.