T.M.C.: what changed
Two fiscal 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.C.
Largest movements
- Cash +€52,421
up €52,421 (+71.5%), from €73,347 to €125,768
mainly Depreciation (+€22,718) and Accrued charges and deferred income (+€17,065)
- Tangible fixed assets -€22,718
down €22,718 (-15.9%), from €142,801 to €120,083
- Receivables within one year -€5,082
down €5,082 (-97.0%), from €5,239 to €156
- Deferred charges and accrued income +€2,499
new in 2025: €2,499
- Accrued charges and deferred income +€17,065
up €17,065 (+1721.0%), from €992 to €18,057
- Reserves +€9,119
up €9,119 (+6.2%), from €147,182 to €156,301
of which Distributable reserves: +€9,119
- Gross operating margin +€16,607
up €16,607 (+57.5%), from €28,896 to €45,503
- Taxes +€3,039
up €3,039 (+446958.8%), from €1 to €3,040
- Other operating charges +€1,334
up €1,334 (+13.9%), from €9,576 to €10,911
- Financial income +€505
up €505 (+10108.2%), from €5 to €510
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 | €221,387 | €248,506 | +€27,119 | +12.2% |
| Fixed assets | 21/28 | €142,801 | €120,083 | -€22,718 | -15.9% |
| Tangible fixed assets | 22/27 | €142,801 | €120,083 | -€22,718 | -15.9% |
| Land and buildings | 22 | €142,801 | €120,083 | -€22,718 | -15.9% |
| Current assets | 29/58 | €78,586 | €128,424 | +€49,837 | +63.4% |
| Amounts receivable within one year | 40/41 | €5,239 | €156 | -€5,082 | -97.0% |
| Other amounts receivable | 41 | €5,239 | €156 | -€5,082 | -97.0% |
| Cash at bank and in hand | 54/58 | €73,347 | €125,768 | +€52,421 | +71.5% |
| Deferred charges and accrued income | 490/1 | - | €2,499 | +€2,499 | |
| Total equity and liabilities | 10/49 | €221,387 | €248,506 | +€27,119 | +12.2% |
| Equity | 10/15 | €209,155 | €218,274 | +€9,119 | +4.4% |
| 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 | €147,182 | €156,301 | +€9,119 | +6.2% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €140,984 | €150,104 | +€9,119 | +6.5% |
| Amounts payable | 17/49 | €12,232 | €30,232 | +€18,000 | +147.2% |
| Amounts payable after more than one year | 17 | €11,240 | €11,240 | = | 0.0% |
| Other amounts payable | 178/9 | €11,240 | €11,240 | = | 0.0% |
| Amounts payable within one year | 42/48 | - | €935 | +€935 | |
| Trade debts | 44 | - | €587 | +€587 | |
| Suppliers | 440/4 | - | €587 | +€587 | |
| Taxes, remuneration and social security | 45 | - | €40 | +€40 | |
| Taxes | 450/3 | - | €40 | +€40 | |
| Other amounts payable | 47/48 | - | €308 | +€308 | |
| Accrued charges and deferred income | 492/3 | €992 | €18,057 | +€17,065 | +1721.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,597 | €22,718 | +€122 | +0.5% |
| Other operating charges | 640/8 | €9,576 | €10,911 | +€1,334 | +13.9% |
| Gross operating margin | 9900 | €28,896 | €45,503 | +€16,607 | +57.5% |
| Operating profit (loss) | 9901 | -€3,277 | €11,874 | +€15,151 | |
| Financial income | 75/76B | €5 | €510 | +€505 | +10108.2% |
| Recurring financial income | 75 | €5 | €510 | +€505 | +10108.2% |
| Financial charges | 65/66B | €121 | €225 | +€105 | +87.0% |
| Recurring financial charges | 65 | €121 | €225 | +€105 | +87.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,392 | €12,159 | +€15,552 | |
| Income taxes | 67/77 | €1 | €3,040 | +€3,039 | +446958.8% |
| Profit (loss) for the period | 9904 | -€3,393 | €9,119 | +€12,512 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,393 | €9,119 | +€12,512 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.