T.M.S. Int: 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. Int
Largest movements
- Cash +€47,159
up €47,159 (+401%), from €11,770 to €58,929
mainly Short-term financial debts (+€72,737) and Trade debts (+€33,401)
- Stocks and contracts +€10,495
new in 2025: €10,495
- Deferred charges and accrued income +€9,421
new in 2025: €9,421
- Tangible fixed assets -€9,401
down €9,401 (-26.1%), from €35,950 to €26,549
of which Plant, machinery and equipment: -€6,126
- Short-term financial debts +€72,737
up €72,737 (+3,215%), from €2,263 to €75,000
- Profit (loss) carried forward -€36,638
down €36,638, from €47 to -€36,591
- Trade debts +€33,401
up €33,401 (+1,903%), from €1,755 to €35,157
- Other debts -€11,601
down €11,601 (-93.5%), from €12,401 to €801
- Current portion of long-term debt -€10,862
down €10,862 (-43.4%), from €25,000 to €14,138
- Staff costs +€40,350
up €40,350 (+14.9%), from €270,097 to €310,447
- Gross operating margin -€16,438
down €16,438 (-5.4%), from €304,628 to €288,190
- Taxes -€9,523
down €9,523 (-94.3%), from €10,096 to €574
- Depreciation +€3,971
up €3,971 (+60.8%), from €6,528 to €10,499
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 | €118,724 | €174,750 | +€56,026 | +47.2% |
| Fixed assets | 21/28 | €40,750 | €31,349 | -€9,401 | -23.1% |
| Tangible fixed assets | 22/27 | €35,950 | €26,549 | -€9,401 | -26.1% |
| Plant, machinery and equipment | 23 | €29,357 | €23,231 | -€6,126 | -20.9% |
| Furniture and vehicles | 24 | €6,593 | €3,318 | -€3,275 | -49.7% |
| Financial fixed assets | 28 | €4,800 | €4,800 | = | 0.0% |
| Current assets | 29/58 | €77,974 | €143,401 | +€65,427 | +83.9% |
| Stocks and contracts in progress | 3 | - | €10,495 | +€10,495 | |
| Stocks | 30/36 | - | €10,495 | +€10,495 | |
| Amounts receivable within one year | 40/41 | €66,204 | €64,555 | -€1,648 | -2.5% |
| Trade receivables | 40 | €59,398 | €45,853 | -€13,545 | -22.8% |
| Other amounts receivable | 41 | €6,806 | €18,702 | +€11,896 | +175% |
| Cash at bank and in hand | 54/58 | €11,770 | €58,929 | +€47,159 | +401% |
| Deferred charges and accrued income | 490/1 | - | €9,421 | +€9,421 | |
| Total equity and liabilities | 10/49 | €118,724 | €174,750 | +€56,026 | +47.2% |
| Equity | 10/15 | €18,647 | -€17,991 | -€36,638 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47 | -€36,591 | -€36,638 | |
| Amounts payable | 17/49 | €100,077 | €192,741 | +€92,664 | +92.6% |
| Amounts payable within one year | 42/48 | €100,077 | €192,741 | +€92,664 | +92.6% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €14,138 | -€10,862 | -43.4% |
| Financial debts | 43 | €2,263 | €75,000 | +€72,737 | +3,215% |
| Credit institutions | 430/8 | €2,263 | €75,000 | +€72,737 | +3,215% |
| Trade debts | 44 | €1,755 | €35,157 | +€33,401 | +1,903% |
| Suppliers | 440/4 | €1,755 | €35,157 | +€33,401 | +1,903% |
| Taxes, remuneration and social security | 45 | €58,658 | €67,645 | +€8,988 | +15.3% |
| Taxes | 450/3 | €32,280 | €22,283 | -€9,998 | -31.0% |
| Remuneration and social security | 454/9 | €26,377 | €45,363 | +€18,985 | +72.0% |
| Other amounts payable | 47/48 | €12,401 | €801 | -€11,601 | -93.5% |
| Remuneration, social security and pensions | 62 | €270,097 | €310,447 | +€40,350 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,528 | €10,499 | +€3,971 | +60.8% |
| Other operating charges | 640/8 | €1,262 | €1,166 | -€96 | -7.6% |
| Gross operating margin | 9900 | €304,628 | €288,190 | -€16,438 | -5.4% |
| Operating profit (loss) | 9901 | €26,741 | -€33,923 | -€60,664 | |
| Financial income | 75/76B | €805 | €335 | -€470 | -58.4% |
| Recurring financial income | 75 | €805 | €335 | -€470 | -58.4% |
| Financial charges | 65/66B | €2,944 | €2,477 | -€468 | -15.9% |
| Recurring financial charges | 65 | €2,944 | €2,477 | -€468 | -15.9% |
| Profit (loss) for the period before taxes | 9903 | €24,602 | -€36,065 | -€60,666 | |
| Income taxes | 67/77 | €10,096 | €574 | -€9,523 | -94.3% |
| Profit (loss) for the period | 9904 | €14,505 | -€36,638 | -€51,144 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,505 | -€36,638 | -€51,144 |
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 25 October 2026 via checked.be.