T.C.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.C.M.
Largest movements
- Stocks and contracts +€59,246
new in 2025: €59,246
- Receivables within one year -€46,279
down €46,279 (-71.2%), from €64,986 to €18,707
of which Other amounts receivable: -€52,958
- Tangible fixed assets -€9,023
down €9,023 (-11.3%), from €79,905 to €70,881
of which Land and buildings: -€4,754
- Deferred charges and accrued income -€3,571
down €3,571 (-40.9%), from €8,733 to €5,162
- Trade debts +€24,995
up €24,995 (+315%), from €7,938 to €32,933
- Tax, wage and social debts -€10,453
down €10,453 (-77.7%), from €13,445 to €2,992
of which Taxes: -€9,669
- Profit (loss) carried forward -€8,776
down €8,776 (-11.5%), from €76,144 to €67,369
- Current portion of long-term debt -€8,174
down €8,174 (-43.6%), from €18,731 to €10,557
- Debts after one year -€7,171
down €7,171 (-65.5%), from €10,949 to €3,778
- Gross operating margin -€58,467
down €58,467 (-75.4%), from €77,500 to €19,033
- Taxes -€11,657
down €11,657 (-98.0%), from €11,899 to €242
- Other operating charges -€2,592
down €2,592 (-48.5%), from €5,342 to €2,750
- Financial income +€1,982
up €1,982 (+314,557%), from €1 to €1,982
- Financial charges -€840
down €840 (-15.6%), from €5,396 to €4,556
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 | €155,946 | €155,910 | -€36 | 0.0% |
| Fixed assets | 21/28 | €80,089 | €71,066 | -€9,023 | -11.3% |
| Tangible fixed assets | 22/27 | €79,905 | €70,881 | -€9,023 | -11.3% |
| Land and buildings | 22 | €50,629 | €45,875 | -€4,754 | -9.4% |
| Plant, machinery and equipment | 23 | €14,648 | €10,826 | -€3,823 | -26.1% |
| Furniture and vehicles | 24 | €14,628 | €14,181 | -€447 | -3.1% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €75,857 | €84,845 | +€8,987 | +11.8% |
| Stocks and contracts in progress | 3 | - | €59,246 | +€59,246 | |
| Contracts in progress | 37 | - | €59,246 | +€59,246 | |
| Amounts receivable within one year | 40/41 | €64,986 | €18,707 | -€46,279 | -71.2% |
| Trade receivables | 40 | €2,102 | €8,781 | +€6,679 | +318% |
| Other amounts receivable | 41 | €62,884 | €9,926 | -€52,958 | -84.2% |
| Cash at bank and in hand | 54/58 | €2,138 | €1,729 | -€409 | -19.1% |
| Deferred charges and accrued income | 490/1 | €8,733 | €5,162 | -€3,571 | -40.9% |
| Total equity and liabilities | 10/49 | €155,946 | €155,910 | -€36 | 0.0% |
| Equity | 10/15 | €84,204 | €75,429 | -€8,776 | -10.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,144 | €67,369 | -€8,776 | -11.5% |
| Amounts payable | 17/49 | €71,742 | €80,481 | +€8,740 | +12.2% |
| Amounts payable after more than one year | 17 | €10,949 | €3,778 | -€7,171 | -65.5% |
| Financial debts | 170/4 | €10,949 | €3,778 | -€7,171 | -65.5% |
| Amounts payable within one year | 42/48 | €60,793 | €73,904 | +€13,111 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €18,731 | €10,557 | -€8,174 | -43.6% |
| Financial debts | 43 | €20,679 | €27,422 | +€6,744 | +32.6% |
| Credit institutions | 430/8 | €20,679 | €27,422 | +€6,744 | +32.6% |
| Trade debts | 44 | €7,938 | €32,933 | +€24,995 | +315% |
| Suppliers | 440/4 | €7,938 | €32,933 | +€24,995 | +315% |
| Taxes, remuneration and social security | 45 | €13,445 | €2,992 | -€10,453 | -77.7% |
| Taxes | 450/3 | €10,780 | €1,111 | -€9,669 | -89.7% |
| Remuneration and social security | 454/9 | €2,664 | €1,881 | -€784 | -29.4% |
| Accrued charges and deferred income | 492/3 | - | €2,799 | +€2,799 | |
| Remuneration, social security and pensions | 62 | €185 | - | -€185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,035 | €22,243 | -€792 | -3.4% |
| Other operating charges | 640/8 | €5,342 | €2,750 | -€2,592 | -48.5% |
| Gross operating margin | 9900 | €77,500 | €19,033 | -€58,467 | -75.4% |
| Operating profit (loss) | 9901 | €48,938 | -€5,960 | -€54,898 | |
| Financial income | 75/76B | €1 | €1,982 | +€1,982 | +314,557% |
| Recurring financial income | 75 | €1 | €1,982 | +€1,982 | +314,557% |
| Financial charges | 65/66B | €5,396 | €4,556 | -€840 | -15.6% |
| Recurring financial charges | 65 | €5,396 | €4,556 | -€840 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €43,543 | -€8,534 | -€52,077 | |
| Income taxes | 67/77 | €11,899 | €242 | -€11,657 | -98.0% |
| Profit (loss) for the period | 9904 | €31,644 | -€8,776 | -€40,420 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,644 | -€8,776 | -€40,420 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.