T.D.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.D.M
Largest movements
- Cash -€14,501
down €14,501 (-100.0%), from €14,501 to €0
mainly Other debts (-€38,272) and Debts after one year (-€10,815)
- Tangible fixed assets -€6,802
down €6,802 (-6.9%), from €99,036 to €92,234
of which Other tangible fixed assets: -€4,998
- Receivables within one year -€4,379
down €4,379 (-5.9%), from €74,477 to €70,099
of which Trade receivables: -€7,653
- Other debts -€38,272
down €38,272 (-74.6%), from €51,335 to €13,064
- Profit (loss) carried forward +€19,784
up €19,784 (+50.7%), from €39,025 to €58,810
- Debts after one year -€10,815
down €10,815 (-18.0%), from €59,933 to €49,118
- Tax, wage and social debts +€5,905
up €5,905 (+70.5%), from €8,378 to €14,283
of which Taxes: +€5,905
- Trade debts -€2,893
down €2,893 (-69.9%), from €4,140 to €1,247
- Gross operating margin +€18,996
up €18,996 (+83.2%), from €22,828 to €41,823
- Taxes +€5,834
up €5,834 (+291.3%), from €2,003 to €7,837
- Financial charges -€1,281
down €1,281 (-18.3%), from €7,016 to €5,735
- Other operating charges +€1,033
up €1,033 (+163.6%), from €632 to €1,665
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.
Cash bridge derived
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 | €195,014 | €169,333 | -€25,681 | -13.2% |
| Fixed assets | 21/28 | €106,036 | €99,234 | -€6,802 | -6.4% |
| Tangible fixed assets | 22/27 | €99,036 | €92,234 | -€6,802 | -6.9% |
| Land and buildings | 22 | €4,511 | €2,707 | -€1,804 | -40.0% |
| Other tangible fixed assets | 26 | €94,525 | €89,528 | -€4,998 | -5.3% |
| Financial fixed assets | 28 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €88,978 | €70,099 | -€18,879 | -21.2% |
| Amounts receivable within one year | 40/41 | €74,477 | €70,099 | -€4,379 | -5.9% |
| Trade receivables | 40 | €42,138 | €34,485 | -€7,653 | -18.2% |
| Other amounts receivable | 41 | €32,339 | €35,614 | +€3,275 | +10.1% |
| Cash at bank and in hand | 54/58 | €14,501 | €0 | -€14,501 | -100.0% |
| Total equity and liabilities | 10/49 | €195,014 | €169,333 | -€25,681 | -13.2% |
| Equity | 10/15 | €45,891 | €65,675 | +€19,784 | +43.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €665 | €665 | = | 0.0% |
| Distributable reserves | 133 | €665 | €665 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,025 | €58,810 | +€19,784 | +50.7% |
| Amounts payable | 17/49 | €149,124 | €103,658 | -€45,465 | -30.5% |
| Amounts payable after more than one year | 17 | €59,933 | €49,118 | -€10,815 | -18.0% |
| Financial debts | 170/4 | €59,933 | €49,118 | -€10,815 | -18.0% |
| Amounts payable within one year | 42/48 | €89,191 | €54,540 | -€34,651 | -38.9% |
| Current portion of amounts payable after more than one year | 42 | €10,285 | €10,815 | +€529 | +5.1% |
| Financial debts | 43 | €15,053 | €15,132 | +€79 | +0.5% |
| Credit institutions | 430/8 | €15,053 | €15,132 | +€79 | +0.5% |
| Trade debts | 44 | €4,140 | €1,247 | -€2,893 | -69.9% |
| Suppliers | 440/4 | €4,140 | €1,247 | -€2,893 | -69.9% |
| Taxes, remuneration and social security | 45 | €8,378 | €14,283 | +€5,905 | +70.5% |
| Taxes | 450/3 | €8,378 | €14,283 | +€5,905 | +70.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €51,335 | €13,064 | -€38,272 | -74.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,776 | €6,802 | +€26 | +0.4% |
| Other operating charges | 640/8 | €632 | €1,665 | +€1,033 | +163.6% |
| Gross operating margin | 9900 | €22,828 | €41,823 | +€18,996 | +83.2% |
| Operating profit (loss) | 9901 | €15,421 | €33,357 | +€17,936 | +116.3% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €7,016 | €5,735 | -€1,281 | -18.3% |
| Recurring financial charges | 65 | €7,016 | €5,735 | -€1,281 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €8,404 | €27,621 | +€19,217 | +228.7% |
| Income taxes | 67/77 | €2,003 | €7,837 | +€5,834 | +291.3% |
| Profit (loss) for the period | 9904 | €6,402 | €19,784 | +€13,382 | +209.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,402 | €19,784 | +€13,382 | +209.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.