T.M.O.: 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.O.
Largest movements
- Cash +€26,008
up €26,008 (+215%), from €12,104 to €38,112
mainly Net result for the year (+€28,169) and Receivables within one year (+€1,511)
- Receivables within one year -€1,511
no longer reported in 2025 (was €1,511)
- Deferred charges and accrued income -€1,404
down €1,404 (-65.0%), from €2,159 to €755
- Reserves +€18,542
up €18,542 (+366%), from €5,069 to €23,611
- Profit (loss) carried forward +€9,627
no longer reported in 2025 (was -€9,627)
- Tax, wage and social debts -€2,133
down €2,133 (-20.9%), from €10,204 to €8,071
- Other debts -€1,995
down €1,995 (-61.8%), from €3,228 to €1,233
- Trade debts -€947
down €947 (-62.9%), from €1,507 to €560
- Provisions +€57,000
no longer reported in 2025 (was -€57,000)
- Gross operating margin +€19,512
up €19,512 (+88.9%), from €21,955 to €41,466
- Depreciation -€7,820
no longer reported in 2025 (was €7,820)
- Other operating charges -€1,535
down €1,535 (-90.3%), from €1,700 to €164
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 | €28,973 | €52,067 | +€23,093 | +79.7% |
| Fixed assets | 21/28 | €13,200 | €13,200 | = | 0.0% |
| Tangible fixed assets | 22/27 | €13,200 | €13,200 | = | 0.0% |
| Other tangible fixed assets | 26 | €13,200 | €13,200 | = | 0.0% |
| Current assets | 29/58 | €15,773 | €38,867 | +€23,093 | +146% |
| Amounts receivable within one year | 40/41 | €1,511 | - | -€1,511 | |
| Trade receivables | 40 | €1,511 | - | -€1,511 | |
| Cash at bank and in hand | 54/58 | €12,104 | €38,112 | +€26,008 | +215% |
| Deferred charges and accrued income | 490/1 | €2,159 | €755 | -€1,404 | -65.0% |
| Total equity and liabilities | 10/49 | €28,973 | €52,067 | +€23,093 | +79.7% |
| Equity | 10/15 | €14,034 | €42,203 | +€28,169 | +201% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €5,069 | €23,611 | +€18,542 | +366% |
| Distributable reserves | 133 | €5,069 | €23,611 | +€18,542 | +366% |
| Profit (loss) carried forward | 14 | -€9,627 | - | +€9,627 | |
| Amounts payable | 17/49 | €14,939 | €9,863 | -€5,076 | -34.0% |
| Amounts payable within one year | 42/48 | €14,939 | €9,863 | -€5,076 | -34.0% |
| Trade debts | 44 | €1,507 | €560 | -€947 | -62.9% |
| Suppliers | 440/4 | €1,507 | €560 | -€947 | -62.9% |
| Taxes, remuneration and social security | 45 | €10,204 | €8,071 | -€2,133 | -20.9% |
| Taxes | 450/3 | €10,204 | €8,071 | -€2,133 | -20.9% |
| Other amounts payable | 47/48 | €3,228 | €1,233 | -€1,995 | -61.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,820 | - | -€7,820 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€57,000 | - | +€57,000 | |
| Other operating charges | 640/8 | €1,700 | €164 | -€1,535 | -90.3% |
| Gross operating margin | 9900 | €21,955 | €41,466 | +€19,512 | +88.9% |
| Operating profit (loss) | 9901 | €69,435 | €41,302 | -€28,133 | -40.5% |
| Financial income | 75/76B | €4 | €4 | -€0 | -2.4% |
| Recurring financial income | 75 | €4 | €4 | -€0 | -2.4% |
| Financial charges | 65/66B | €345 | €170 | -€175 | -50.7% |
| Recurring financial charges | 65 | €345 | €170 | -€175 | -50.7% |
| Profit (loss) for the period before taxes | 9903 | €69,094 | €41,136 | -€27,958 | -40.5% |
| Income taxes | 67/77 | €12,757 | €12,967 | +€210 | +1.6% |
| Profit (loss) for the period | 9904 | €56,337 | €28,169 | -€28,168 | -50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,337 | €28,169 | -€28,168 | -50.0% |
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 28 October 2026 via checked.be.