T.M.C.: 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.C.
Largest movements
- Tangible fixed assets -€29,311
down €29,311 (-12.6%), from €233,479 to €204,167
- Receivables within one year +€4,466
up €4,466 (+6.8%), from €65,341 to €69,806
- Deferred charges and accrued income -€3,772
down €3,772 (-50.4%), from €7,481 to €3,709
- Debts after one year -€30,071
down €30,071 (-23.8%), from €126,301 to €96,231
of which Financial debts: -€29,221
- Other debts -€13,027
down €13,027 (-3.5%), from €372,255 to €359,228
- Current portion of long-term debt +€8,944
up €8,944 (+44.1%), from €20,276 to €29,221
- Accrued charges and deferred income +€8,158
up €8,158 (+1,011%), from €807 to €8,964
- Profit (loss) carried forward -€4,959
down €4,959 (-1.7%), from -€287,638 to -€292,598
- Financial charges -€2,926
down €2,926 (-19.5%), from €15,024 to €12,098
- Other operating charges -€2,438
down €2,438 (-36.4%), from €6,688 to €4,250
- Gross operating margin -€1,372
down €1,372 (-3.6%), from €38,363 to €36,991
- Financial income -€622
down €622 (-14.4%), from €4,331 to €3,709
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 | €308,489 | €279,909 | -€28,580 | -9.3% |
| Fixed assets | 21/28 | €233,479 | €204,167 | -€29,311 | -12.6% |
| Tangible fixed assets | 22/27 | €233,479 | €204,167 | -€29,311 | -12.6% |
| Land and buildings | 22 | €233,479 | €204,167 | -€29,311 | -12.6% |
| Current assets | 29/58 | €75,010 | €75,741 | +€731 | +1.0% |
| Amounts receivable within one year | 40/41 | €65,341 | €69,806 | +€4,466 | +6.8% |
| Other amounts receivable | 41 | €65,341 | €69,806 | +€4,466 | +6.8% |
| Cash at bank and in hand | 54/58 | €2,188 | €2,226 | +€37 | +1.7% |
| Deferred charges and accrued income | 490/1 | €7,481 | €3,709 | -€3,772 | -50.4% |
| Total equity and liabilities | 10/49 | €308,489 | €279,909 | -€28,580 | -9.3% |
| Equity | 10/15 | -€213,270 | -€218,230 | -€4,959 | -2.3% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€287,638 | -€292,598 | -€4,959 | -1.7% |
| Amounts payable | 17/49 | €521,759 | €498,138 | -€23,621 | -4.5% |
| Amounts payable after more than one year | 17 | €126,301 | €96,231 | -€30,071 | -23.8% |
| Financial debts | 170/4 | €125,451 | €96,231 | -€29,221 | -23.3% |
| Other amounts payable | 178/9 | €850 | €0 | -€850 | -100% |
| Amounts payable within one year | 42/48 | €394,651 | €392,943 | -€1,708 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €20,276 | €29,221 | +€8,944 | +44.1% |
| Trade debts | 44 | €2,119 | €4,494 | +€2,375 | +112% |
| Suppliers | 440/4 | €2,119 | €4,494 | +€2,375 | +112% |
| Other amounts payable | 47/48 | €372,255 | €359,228 | -€13,027 | -3.5% |
| Accrued charges and deferred income | 492/3 | €807 | €8,964 | +€8,158 | +1,011% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,311 | €29,311 | = | 0.0% |
| Other operating charges | 640/8 | €6,688 | €4,250 | -€2,438 | -36.4% |
| Gross operating margin | 9900 | €38,363 | €36,991 | -€1,372 | -3.6% |
| Operating profit (loss) | 9901 | €2,364 | €3,429 | +€1,066 | +45.1% |
| Financial income | 75/76B | €4,331 | €3,709 | -€622 | -14.4% |
| Recurring financial income | 75 | €4,331 | €3,709 | -€622 | -14.4% |
| Financial charges | 65/66B | €15,024 | €12,098 | -€2,926 | -19.5% |
| Recurring financial charges | 65 | €15,024 | €12,098 | -€2,926 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,330 | -€4,959 | +€3,370 | +40.5% |
| Profit (loss) for the period | 9904 | -€8,330 | -€4,959 | +€3,370 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,330 | -€4,959 | +€3,370 | +40.5% |
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 23 October 2026 via checked.be.