T.M.S.: 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.S.
Largest movements
- Stocks and contracts +€80,000
up €80,000 (+62.8%), from €127,383 to €207,383
- Receivables within one year +€43,074
up €43,074 (+144%), from €29,955 to €73,029
- Tangible fixed assets -€38,986
down €38,986 (-23.2%), from €167,894 to €128,908
of which Plant, machinery and equipment: -€37,706
- Cash +€20,950
up €20,950 (+68.1%), from €30,743 to €51,693
mainly Net result for the year (+€70,598) and Other debts (+€57,823)
- Profit (loss) carried forward +€70,598
up €70,598 (+42.3%), from -€166,890 to -€96,292
- Other debts +€57,823
up €57,823 (+92.4%), from €62,595 to €120,418
- Debts after one year -€21,103
down €21,103 (-7.5%), from €282,202 to €261,099
- Tax, wage and social debts +€6,172
up €6,172 (+7.8%), from €78,986 to €85,158
of which Taxes: +€6,426
- Trade debts -€5,574
down €5,574 (-15.0%), from €37,257 to €31,683
of which Suppliers: -€14,585
- Financial charges -€17,301
down €17,301 (-72.7%), from €23,787 to €6,486
of which Non-recurring financial charges: -€10,260
- Gross operating margin -€16,766
down €16,766 (-6.2%), from €270,921 to €254,155
- Staff costs +€5,936
up €5,936 (+4.8%), from €122,398 to €128,334
- Taxes +€3,340
new in 2024: €3,340
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €356,569 | €461,642 | +€105,073 | +29.5% |
| Fixed assets | 21/28 | €168,394 | €129,408 | -€38,986 | -23.2% |
| Tangible fixed assets | 22/27 | €167,894 | €128,908 | -€38,986 | -23.2% |
| Plant, machinery and equipment | 23 | €165,586 | €127,880 | -€37,706 | -22.8% |
| Furniture and vehicles | 24 | €2,308 | €1,028 | -€1,280 | -55.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €188,175 | €332,234 | +€144,059 | +76.6% |
| Stocks and contracts in progress | 3 | €127,383 | €207,383 | +€80,000 | +62.8% |
| Stocks | 30/36 | €127,383 | €207,383 | +€80,000 | +62.8% |
| Amounts receivable within one year | 40/41 | €29,955 | €73,029 | +€43,074 | +144% |
| Other amounts receivable | 41 | €29,955 | €73,029 | +€43,074 | +144% |
| Cash at bank and in hand | 54/58 | €30,743 | €51,693 | +€20,950 | +68.1% |
| Deferred charges and accrued income | 490/1 | €94 | €129 | +€35 | +37.2% |
| Total equity and liabilities | 10/49 | €356,569 | €461,642 | +€105,073 | +29.5% |
| Equity | 10/15 | -€128,417 | -€57,819 | +€70,598 | +55.0% |
| Contributions | 10/11 | €20,451 | €18,592 | -€1,859 | -9.1% |
| Reserves | 13 | €18,022 | €19,881 | +€1,859 | +10.3% |
| Non-distributable reserves | 130/1 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Distributable reserves | 133 | €18,022 | €18,022 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€166,890 | -€96,292 | +€70,598 | +42.3% |
| Amounts payable | 17/49 | €484,985 | €519,461 | +€34,476 | +7.1% |
| Amounts payable after more than one year | 17 | €282,202 | €261,099 | -€21,103 | -7.5% |
| Financial debts | 170/4 | €282,202 | €261,099 | -€21,103 | -7.5% |
| Amounts payable within one year | 42/48 | €199,533 | €258,362 | +€58,829 | +29.5% |
| Current portion of amounts payable after more than one year | 42 | €20,696 | €21,103 | +€407 | +2.0% |
| Trade debts | 44 | €37,257 | €31,683 | -€5,574 | -15.0% |
| Suppliers | 440/4 | €37,257 | €22,672 | -€14,585 | -39.1% |
| Bills of exchange payable | 441 | - | €9,011 | +€9,011 | |
| Taxes, remuneration and social security | 45 | €78,986 | €85,158 | +€6,172 | +7.8% |
| Taxes | 450/3 | €62,029 | €68,455 | +€6,426 | +10.4% |
| Remuneration and social security | 454/9 | €16,957 | €16,703 | -€254 | -1.5% |
| Other amounts payable | 47/48 | €62,595 | €120,418 | +€57,823 | +92.4% |
| Accrued charges and deferred income | 492/3 | €3,250 | - | -€3,250 | |
| Remuneration, social security and pensions | 62 | €122,398 | €128,334 | +€5,936 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,213 | €44,986 | -€227 | -0.5% |
| Other operating charges | 640/8 | €966 | €411 | -€555 | -57.5% |
| Gross operating margin | 9900 | €270,921 | €254,155 | -€16,766 | -6.2% |
| Operating profit (loss) | 9901 | €102,344 | €80,424 | -€21,920 | -21.4% |
| Financial income | 75/76B | €179 | - | -€179 | |
| Recurring financial income | 75 | €179 | - | -€179 | |
| Non-recurring financial income | 76B | €179 | - | -€179 | |
| Financial charges | 65/66B | €23,787 | €6,486 | -€17,301 | -72.7% |
| Recurring financial charges | 65 | €13,527 | €6,486 | -€7,041 | -52.1% |
| Non-recurring financial charges | 66B | €10,260 | - | -€10,260 | |
| Profit (loss) for the period before taxes | 9903 | €78,737 | €73,938 | -€4,799 | -6.1% |
| Income taxes | 67/77 | - | €3,340 | +€3,340 | |
| Profit (loss) for the period | 9904 | €78,737 | €70,598 | -€8,139 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,737 | €70,598 | -€8,139 | -10.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.