T.B.M.: 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.
T.B.M.
Largest movements
- Receivables within one year +€98,817
up €98,817 (+180%), from €55,018 to €153,835
of which Other amounts receivable: +€98,817
- Deferred charges and accrued income -€27,552
down €27,552 (-71.3%), from €38,646 to €11,095
- Tangible fixed assets -€12,911
down €12,911 (-5.7%), from €225,489 to €212,579
- Reserves +€43,141
up €43,141 (+20.8%), from €207,772 to €250,913
- Trade debts +€12,822
new in 2025: €12,822
- Write-downs -€935,925
down €935,925 (-100%), from €935,925 to €0
- Gross operating margin -€164,744
down €164,744 (-71.2%), from €231,224 to €66,479
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 | €399,967 | €457,842 | +€57,875 | +14.5% |
| Fixed assets | 21/28 | €225,489 | €212,579 | -€12,911 | -5.7% |
| Tangible fixed assets | 22/27 | €225,489 | €212,579 | -€12,911 | -5.7% |
| Land and buildings | 22 | €225,489 | €212,579 | -€12,911 | -5.7% |
| Current assets | 29/58 | €174,478 | €245,263 | +€70,785 | +40.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €55,018 | €153,835 | +€98,817 | +180% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €55,018 | €153,835 | +€98,817 | +180% |
| Cash at bank and in hand | 54/58 | €80,814 | €80,334 | -€480 | -0.6% |
| Deferred charges and accrued income | 490/1 | €38,646 | €11,095 | -€27,552 | -71.3% |
| Total equity and liabilities | 10/49 | €399,967 | €457,842 | +€57,875 | +14.5% |
| Equity | 10/15 | €393,700 | €436,842 | +€43,141 | +11.0% |
| Contributions | 10/11 | €185,928 | €185,928 | = | 0.0% |
| Reserves | 13 | €207,772 | €250,913 | +€43,141 | +20.8% |
| Distributable reserves | 133 | €207,772 | €250,913 | +€43,141 | +20.8% |
| Amounts payable | 17/49 | €6,267 | €21,000 | +€14,733 | +235% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €579 | €12,822 | +€12,243 | +2,115% |
| Financial debts | 43 | €579 | €0 | -€579 | -100% |
| Credit institutions | 430/8 | €579 | €0 | -€579 | -100% |
| Trade debts | 44 | - | €12,822 | +€12,822 | |
| Suppliers | 440/4 | - | €12,822 | +€12,822 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €5,688 | €8,178 | +€2,490 | +43.8% |
| Non-recurring operating income | 76A | €31,489 | €74,225 | +€42,736 | +136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,911 | €12,911 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €935,925 | €0 | -€935,925 | -100% |
| Other operating charges | 640/8 | €13,205 | €13,818 | +€613 | +4.6% |
| Gross operating margin | 9900 | €231,224 | €66,479 | -€164,744 | -71.2% |
| Operating profit (loss) | 9901 | -€730,817 | €39,751 | +€770,567 | |
| Financial income | 75/76B | €4,769 | €3,613 | -€1,156 | -24.2% |
| Recurring financial income | 75 | €4,769 | €3,613 | -€1,156 | -24.2% |
| Financial charges | 65/66B | €705 | €223 | -€482 | -68.4% |
| Recurring financial charges | 65 | €705 | €223 | -€482 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | -€726,752 | €43,141 | +€769,894 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€726,752 | €43,141 | +€769,894 | |
| Profit (loss) for the period to be appropriated | 9905 | -€726,752 | €43,141 | +€769,894 |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.