T-M Projects: 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 Projects
Largest movements
- Receivables within one year +€28,406
up €28,406 (+215.2%), from €13,202 to €41,608
of which Trade receivables: +€23,963
- Tangible fixed assets -€18,431
down €18,431 (-18.5%), from €99,793 to €81,362
of which Furniture and vehicles: -€17,106
- Cash -€7,525
down €7,525 (-59.3%), from €12,681 to €5,156
mainly Receivables within one year (-€28,406) and Contributions, distributions and other (-€9,286)
- Debts after one year -€9,121
down €9,121 (-17.2%), from €53,126 to €44,006
- Tax, wage and social debts +€3,282
up €3,282 (+93.5%), from €3,509 to €6,791
- Reserves +€2,757
up €2,757 (+4.3%), from €64,090 to €66,846
- Trade debts +€2,564
up €2,564 (+2661.7%), from €96 to €2,661
- Other debts +€2,145
up €2,145 (+2823.0%), from €76 to €2,221
- Financial income -€8,726
down €8,726 (-99.9%), from €8,736 to €10
of which Non-recurring financial income: -€8,736
- Gross operating margin +€2,115
up €2,115 (+5.2%), from €41,044 to €43,159
- Taxes -€1,853
down €1,853 (-25.7%), from €7,209 to €5,357
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 | €131,619 | €134,031 | +€2,412 | +1.8% |
| Fixed assets | 21/28 | €100,818 | €82,387 | -€18,431 | -18.3% |
| Tangible fixed assets | 22/27 | €99,793 | €81,362 | -€18,431 | -18.5% |
| Land and buildings | 22 | €442 | €394 | -€48 | -10.9% |
| Plant, machinery and equipment | 23 | €16,135 | €14,858 | -€1,277 | -7.9% |
| Furniture and vehicles | 24 | €83,216 | €66,109 | -€17,106 | -20.6% |
| Financial fixed assets | 28 | €1,025 | €1,025 | = | 0.0% |
| Current assets | 29/58 | €30,801 | €51,644 | +€20,843 | +67.7% |
| Amounts receivable within one year | 40/41 | €13,202 | €41,608 | +€28,406 | +215.2% |
| Trade receivables | 40 | €13,202 | €37,165 | +€23,963 | +181.5% |
| Other amounts receivable | 41 | - | €4,443 | +€4,443 | |
| Cash at bank and in hand | 54/58 | €12,681 | €5,156 | -€7,525 | -59.3% |
| Deferred charges and accrued income | 490/1 | €4,918 | €4,880 | -€38 | -0.8% |
| Total equity and liabilities | 10/49 | €131,619 | €134,031 | +€2,412 | +1.8% |
| Equity | 10/15 | €66,090 | €68,846 | +€2,757 | +4.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €64,090 | €66,846 | +€2,757 | +4.3% |
| Distributable reserves | 133 | €64,090 | €66,846 | +€2,757 | +4.3% |
| Amounts payable | 17/49 | €65,529 | €65,184 | -€345 | -0.5% |
| Amounts payable after more than one year | 17 | €53,126 | €44,006 | -€9,121 | -17.2% |
| Financial debts | 170/4 | €53,126 | €44,006 | -€9,121 | -17.2% |
| Amounts payable within one year | 42/48 | €12,402 | €20,794 | +€8,391 | +67.7% |
| Current portion of amounts payable after more than one year | 42 | €8,721 | €9,121 | +€400 | +4.6% |
| Trade debts | 44 | €96 | €2,661 | +€2,564 | +2661.7% |
| Suppliers | 440/4 | €96 | €2,661 | +€2,564 | +2661.7% |
| Taxes, remuneration and social security | 45 | €3,509 | €6,791 | +€3,282 | +93.5% |
| Taxes | 450/3 | €3,509 | €6,791 | +€3,282 | +93.5% |
| Other amounts payable | 47/48 | €76 | €2,221 | +€2,145 | +2823.0% |
| Accrued charges and deferred income | 492/3 | - | €385 | +€385 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,138 | €19,971 | -€167 | -0.8% |
| Other operating charges | 640/8 | €1,269 | €1,530 | +€261 | +20.6% |
| Gross operating margin | 9900 | €41,044 | €43,159 | +€2,115 | +5.2% |
| Operating profit (loss) | 9901 | €19,638 | €21,658 | +€2,020 | +10.3% |
| Financial income | 75/76B | €8,736 | €10 | -€8,726 | -99.9% |
| Recurring financial income | 75 | €8,736 | €10 | -€8,726 | -99.9% |
| Non-recurring financial income | 76B | €8,736 | - | -€8,736 | |
| Financial charges | 65/66B | €4,340 | €4,269 | -€71 | -1.6% |
| Recurring financial charges | 65 | €4,340 | €4,269 | -€71 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €24,034 | €17,399 | -€6,635 | -27.6% |
| Income taxes | 67/77 | €7,209 | €5,357 | -€1,853 | -25.7% |
| Profit (loss) for the period | 9904 | €16,825 | €12,043 | -€4,782 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,825 | €12,043 | -€4,782 | -28.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.