T.M. Management: 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. Management
Largest movements
- Tangible fixed assets +€24,124
up €24,124 (+19.3%), from €125,065 to €149,189
of which Land and buildings: +€50,994
- Receivables within one year -€18,573
down €18,573 (-38.2%), from €48,563 to €29,990
of which Trade receivables: -€18,181
- Cash +€14,388
up €14,388 (+89.8%), from €16,020 to €30,409
mainly Depreciation (+€32,978) and Trade debts (+€30,650)
- Trade debts +€30,650
up €30,650 (+103%), from €29,883 to €60,533
- Profit (loss) carried forward -€18,263
down €18,263 (-12.5%), from -€145,633 to -€163,895
- Other debts +€13,178
up €13,178 (+10.2%), from €129,488 to €142,666
- Tax, wage and social debts -€4,829
down €4,829 (-52.7%), from €9,170 to €4,341
- Depreciation +€7,480
up €7,480 (+29.3%), from €25,498 to €32,978
- Financial charges -€7,218
down €7,218 (-92.8%), from €7,777 to €560
- Gross operating margin +€4,394
up €4,394 (+37.2%), from €11,800 to €16,194
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 | €191,976 | €212,712 | +€20,736 | +10.8% |
| Fixed assets | 21/28 | €125,065 | €149,189 | +€24,124 | +19.3% |
| Tangible fixed assets | 22/27 | €125,065 | €149,189 | +€24,124 | +19.3% |
| Land and buildings | 22 | €4,994 | €55,988 | +€50,994 | +1,021% |
| Plant, machinery and equipment | 23 | €1,740 | €1,333 | -€407 | -23.4% |
| Furniture and vehicles | 24 | €118,330 | €91,868 | -€26,462 | -22.4% |
| Current assets | 29/58 | €66,911 | €63,523 | -€3,388 | -5.1% |
| Amounts receivable within one year | 40/41 | €48,563 | €29,990 | -€18,573 | -38.2% |
| Trade receivables | 40 | €48,171 | €29,990 | -€18,181 | -37.7% |
| Other amounts receivable | 41 | €393 | €0 | -€393 | -100% |
| Cash at bank and in hand | 54/58 | €16,020 | €30,409 | +€14,388 | +89.8% |
| Deferred charges and accrued income | 490/1 | €2,328 | €3,125 | +€797 | +34.2% |
| Total equity and liabilities | 10/49 | €191,976 | €212,712 | +€20,736 | +10.8% |
| Equity | 10/15 | €23,435 | €5,172 | -€18,263 | -77.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €156,667 | €156,667 | = | 0.0% |
| Distributable reserves | 133 | €156,667 | €156,667 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,633 | -€163,895 | -€18,263 | -12.5% |
| Amounts payable | 17/49 | €168,541 | €207,540 | +€38,999 | +23.1% |
| Amounts payable within one year | 42/48 | €168,541 | €207,540 | +€38,999 | +23.1% |
| Trade debts | 44 | €29,883 | €60,533 | +€30,650 | +103% |
| Suppliers | 440/4 | €29,883 | €60,533 | +€30,650 | +103% |
| Taxes, remuneration and social security | 45 | €9,170 | €4,341 | -€4,829 | -52.7% |
| Taxes | 450/3 | €9,170 | €4,341 | -€4,829 | -52.7% |
| Other amounts payable | 47/48 | €129,488 | €142,666 | +€13,178 | +10.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €10,100 | €0 | -€10,100 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,498 | €32,978 | +€7,480 | +29.3% |
| Other operating charges | 640/8 | €650 | €525 | -€125 | -19.3% |
| Gross operating margin | 9900 | €11,800 | €16,194 | +€4,394 | +37.2% |
| Operating profit (loss) | 9901 | -€14,349 | -€17,309 | -€2,960 | -20.6% |
| Financial income | 75/76B | €54 | €1 | -€53 | -98.1% |
| Recurring financial income | 75 | €54 | €1 | -€53 | -98.1% |
| Financial charges | 65/66B | €7,777 | €560 | -€7,218 | -92.8% |
| Recurring financial charges | 65 | €7,777 | €560 | -€7,218 | -92.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,072 | -€17,867 | +€4,204 | +19.0% |
| Income taxes | 67/77 | €413 | €395 | -€18 | -4.3% |
| Profit (loss) for the period | 9904 | -€22,485 | -€18,263 | +€4,222 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,485 | -€18,263 | +€4,222 | +18.8% |
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 26 October 2026 via checked.be.