T.M. BOUW: 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.M. BOUW
Largest movements
- Receivables within one year +€7,817
up €7,817 (+3.6%), from €217,479 to €225,296
of which Other amounts receivable: +€4,262
- Profit (loss) carried forward -€46,157
down €46,157 (-43.1%), from -€107,196 to -€153,353
- Trade debts +€34,226
up €34,226 (+70.6%), from €48,495 to €82,721
- Other debts +€21,328
up €21,328 (+29.1%), from €73,252 to €94,580
- Short-term financial debts -€3,013
down €3,013 (-9.7%), from €31,117 to €28,105
- Gross operating margin +€37,152
up €37,152, from -€29,341 to €7,811
- Staff costs +€17,028
up €17,028 (+52.3%), from €32,579 to €49,607
- Financial charges +€582
up €582 (+18.0%), from €3,236 to €3,819
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 | €227,853 | €234,859 | +€7,006 | +3.1% |
| Fixed assets | 21/28 | €1,103 | €1,431 | +€329 | +29.8% |
| Intangible fixed assets | 21 | €1,103 | €1,431 | +€329 | +29.8% |
| Current assets | 29/58 | €226,750 | €233,428 | +€6,678 | +2.9% |
| Stocks and contracts in progress | 3 | €2,394 | €1,255 | -€1,139 | -47.6% |
| Stocks | 30/36 | €2,394 | €1,255 | -€1,139 | -47.6% |
| Amounts receivable within one year | 40/41 | €217,479 | €225,296 | +€7,817 | +3.6% |
| Trade receivables | 40 | €144,390 | €147,946 | +€3,555 | +2.5% |
| Other amounts receivable | 41 | €73,089 | €77,351 | +€4,262 | +5.8% |
| Cash at bank and in hand | 54/58 | €6,877 | €6,877 | = | 0.0% |
| Total equity and liabilities | 10/49 | €227,853 | €234,859 | +€7,006 | +3.1% |
| Equity | 10/15 | €72,250 | €26,093 | -€46,157 | -63.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €117,473 | €117,473 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €73,775 | €73,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,196 | -€153,353 | -€46,157 | -43.1% |
| Amounts payable | 17/49 | €155,603 | €208,766 | +€53,163 | +34.2% |
| Amounts payable within one year | 42/48 | €155,603 | €208,766 | +€53,163 | +34.2% |
| Financial debts | 43 | €31,117 | €28,105 | -€3,013 | -9.7% |
| Credit institutions | 430/8 | €31,117 | €28,105 | -€3,013 | -9.7% |
| Trade debts | 44 | €48,495 | €82,721 | +€34,226 | +70.6% |
| Suppliers | 440/4 | €48,495 | €82,721 | +€34,226 | +70.6% |
| Taxes, remuneration and social security | 45 | €2,739 | €3,361 | +€622 | +22.7% |
| Taxes | 450/3 | €2,739 | €169 | -€2,570 | -93.8% |
| Remuneration and social security | 454/9 | - | €3,192 | +€3,192 | |
| Other amounts payable | 47/48 | €73,252 | €94,580 | +€21,328 | +29.1% |
| Remuneration, social security and pensions | 62 | €32,579 | €49,607 | +€17,028 | +52.3% |
| Other operating charges | 640/8 | €569 | €543 | -€26 | -4.6% |
| Gross operating margin | 9900 | -€29,341 | €7,811 | +€37,152 | |
| Operating profit (loss) | 9901 | -€62,489 | -€42,338 | +€20,150 | +32.2% |
| Financial charges | 65/66B | €3,236 | €3,819 | +€582 | +18.0% |
| Recurring financial charges | 65 | €3,236 | €3,819 | +€582 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | -€65,725 | -€46,157 | +€19,568 | +29.8% |
| Profit (loss) for the period | 9904 | -€65,725 | -€46,157 | +€19,568 | +29.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,725 | -€46,157 | +€19,568 | +29.8% |
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 29 October 2026 via checked.be.