T.M.R.D.: 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.R.D.
Largest movements
- Cash +€526
up €526 (+341%), from €154 to €680
mainly Other debts (+€5,910) and Short-term financial debts (+€5,477)
- Receivables within one year -€143
down €143 (-100%), from €143 to €0
of which Other amounts receivable: -€143
- Tangible fixed assets -€83
down €83 (-100%), from €83 to €0
of which Furniture and vehicles: -€83
- Profit (loss) carried forward -€6,094
down €6,094 (-8.9%), from -€68,609 to -€74,703
- Other debts +€5,910
up €5,910 (+104%), from €5,704 to €11,614
- Short-term financial debts +€5,477
up €5,477 (+58.5%), from €9,359 to €14,836
- Tax, wage and social debts -€4,900
down €4,900 (-99.6%), from €4,919 to €20
of which Taxes: -€3,899
- Trade debts -€109
down €109 (-21.4%), from €508 to €400
- Gross operating margin -€9,334
down €9,334, from €5,378 to -€3,956
- Purchases and services +€5,089
new in 2025: €5,089
- Staff costs -€4,215
down €4,215 (-99.6%), from €4,230 to €15
- Financial charges -€446
down €446 (-18.4%), from €2,419 to €1,974
- Other operating charges -€411
down €411 (-86.2%), from €477 to €66
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 | €380 | €680 | +€300 | +79.0% |
| Fixed assets | 21/28 | €83 | €0 | -€83 | -100% |
| Tangible fixed assets | 22/27 | €83 | €0 | -€83 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €83 | €0 | -€83 | -100% |
| Current assets | 29/58 | €297 | €680 | +€383 | +129% |
| Amounts receivable within one year | 40/41 | €143 | €0 | -€143 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €143 | €0 | -€143 | -100% |
| Cash at bank and in hand | 54/58 | €154 | €680 | +€526 | +341% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €380 | €680 | +€300 | +79.0% |
| Equity | 10/15 | -€21,361 | -€27,455 | -€6,094 | -28.5% |
| Contributions | 10/11 | €43,381 | €43,381 | = | 0.0% |
| Reserves | 13 | €3,867 | €3,867 | = | 0.0% |
| Distributable reserves | 133 | €3,867 | €3,867 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,609 | -€74,703 | -€6,094 | -8.9% |
| Amounts payable | 17/49 | €21,741 | €28,135 | +€6,394 | +29.4% |
| Amounts payable within one year | 42/48 | €21,741 | €28,135 | +€6,394 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €1,250 | €1,265 | +€15 | +1.2% |
| Financial debts | 43 | €9,359 | €14,836 | +€5,477 | +58.5% |
| Credit institutions | 430/8 | €9,359 | €14,836 | +€5,477 | +58.5% |
| Trade debts | 44 | €508 | €400 | -€109 | -21.4% |
| Suppliers | 440/4 | €508 | €400 | -€109 | -21.4% |
| Taxes, remuneration and social security | 45 | €4,919 | €20 | -€4,900 | -99.6% |
| Taxes | 450/3 | €3,918 | €20 | -€3,899 | -99.5% |
| Remuneration and social security | 454/9 | €1,001 | €0 | -€1,001 | -100% |
| Other amounts payable | 47/48 | €5,704 | €11,614 | +€5,910 | +104% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €5,089 | +€5,089 | |
| Remuneration, social security and pensions | 62 | €4,230 | €15 | -€4,215 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188 | €83 | -€105 | -55.7% |
| Other operating charges | 640/8 | €477 | €66 | -€411 | -86.2% |
| Gross operating margin | 9900 | €5,378 | -€3,956 | -€9,334 | |
| Operating profit (loss) | 9901 | €483 | -€4,120 | -€4,603 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,419 | €1,974 | -€446 | -18.4% |
| Recurring financial charges | 65 | €2,419 | €1,974 | -€446 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,936 | -€6,094 | -€4,157 | -215% |
| Income taxes | 67/77 | €20 | €0 | -€20 | -99.9% |
| Profit (loss) for the period | 9904 | -€1,956 | -€6,094 | -€4,138 | -212% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,956 | -€6,094 | -€4,138 | -212% |
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 17 October 2026 via checked.be.