T.M. TRADING: 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. TRADING
Largest movements
- Receivables after one year -€51,717
down €51,717 (-100%), from €51,717 to €0
- Tangible fixed assets -€27,782
down €27,782 (-14.2%), from €195,566 to €167,784
of which Land and buildings: -€16,388
- Stocks and contracts -€19,128
down €19,128 (-20.5%), from €93,233 to €74,105
- Cash -€7,595
down €7,595 (-67.2%), from €11,294 to €3,699
mainly Net result for the year (-€94,966) and Debts after one year (-€14,748)
- Profit (loss) carried forward -€94,966
down €94,966 (-751%), from -€12,650 to -€107,616
- Debts after one year -€14,748
down €14,748 (-6.2%), from €236,698 to €221,950
- Other debts -€6,097
down €6,097 (-42.6%), from €14,312 to €8,215
- Trade debts +€5,351
up €5,351 (+5.6%), from €94,898 to €100,248
- Financial charges +€49,718
up €49,718 (+280%), from €17,779 to €67,498
- Staff costs -€33,507
down €33,507 (-40.1%), from €83,499 to €49,992
- Write-downs -€28,736
down €28,736 (-100%), from €28,736 to €0
- Gross operating margin -€21,454
down €21,454 (-22.1%), from €97,224 to €75,770
- Other operating charges +€8,113
up €8,113 (+47.2%), from €17,170 to €25,283
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 | €414,916 | €305,400 | -€109,516 | -26.4% |
| Fixed assets | 21/28 | €195,566 | €167,784 | -€27,782 | -14.2% |
| Tangible fixed assets | 22/27 | €195,566 | €167,784 | -€27,782 | -14.2% |
| Land and buildings | 22 | €155,137 | €138,749 | -€16,388 | -10.6% |
| Plant, machinery and equipment | 23 | €2,429 | €0 | -€2,429 | -100% |
| Furniture and vehicles | 24 | €37,999 | €29,035 | -€8,965 | -23.6% |
| Current assets | 29/58 | €219,350 | €137,616 | -€81,734 | -37.3% |
| Amounts receivable after more than one year | 29 | €51,717 | €0 | -€51,717 | -100% |
| Trade receivables | 290 | €51,717 | €0 | -€51,717 | -100% |
| Stocks and contracts in progress | 3 | €93,233 | €74,105 | -€19,128 | -20.5% |
| Stocks | 30/36 | €93,233 | €74,105 | -€19,128 | -20.5% |
| Amounts receivable within one year | 40/41 | €59,290 | €56,299 | -€2,992 | -5.0% |
| Trade receivables | 40 | €59,165 | €39,218 | -€19,946 | -33.7% |
| Other amounts receivable | 41 | €126 | €17,080 | +€16,955 | +13,506% |
| Cash at bank and in hand | 54/58 | €11,294 | €3,699 | -€7,595 | -67.2% |
| Deferred charges and accrued income | 490/1 | €3,816 | €3,513 | -€303 | -7.9% |
| Total equity and liabilities | 10/49 | €414,916 | €305,400 | -€109,516 | -26.4% |
| Equity | 10/15 | €32,960 | -€62,006 | -€94,966 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €27,018 | €27,018 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €25,159 | €25,159 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,650 | -€107,616 | -€94,966 | -751% |
| Amounts payable | 17/49 | €381,956 | €367,405 | -€14,550 | -3.8% |
| Amounts payable after more than one year | 17 | €236,698 | €221,950 | -€14,748 | -6.2% |
| Financial debts | 170/4 | €236,698 | €221,950 | -€14,748 | -6.2% |
| Amounts payable within one year | 42/48 | €144,435 | €145,455 | +€1,020 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €14,303 | €14,748 | +€445 | +3.1% |
| Trade debts | 44 | €94,898 | €100,248 | +€5,351 | +5.6% |
| Suppliers | 440/4 | €94,898 | €100,248 | +€5,351 | +5.6% |
| Taxes, remuneration and social security | 45 | €20,923 | €22,245 | +€1,322 | +6.3% |
| Taxes | 450/3 | €8,847 | €15,273 | +€6,426 | +72.6% |
| Remuneration and social security | 454/9 | €12,076 | €6,972 | -€5,104 | -42.3% |
| Other amounts payable | 47/48 | €14,312 | €8,215 | -€6,097 | -42.6% |
| Accrued charges and deferred income | 492/3 | €823 | €0 | -€823 | -100% |
| Non-recurring operating income | 76A | €4,424 | €0 | -€4,424 | -100% |
| Remuneration, social security and pensions | 62 | €83,499 | €49,992 | -€33,507 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,934 | €27,782 | +€2,848 | +11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,736 | €0 | -€28,736 | -100% |
| Other operating charges | 640/8 | €17,170 | €25,283 | +€8,113 | +47.2% |
| Gross operating margin | 9900 | €97,224 | €75,770 | -€21,454 | -22.1% |
| Operating profit (loss) | 9901 | -€57,115 | -€27,287 | +€29,828 | +52.2% |
| Financial income | 75/76B | €17 | €40 | +€22 | +130% |
| Recurring financial income | 75 | €17 | €40 | +€22 | +130% |
| Financial charges | 65/66B | €17,779 | €67,498 | +€49,718 | +280% |
| Recurring financial charges | 65 | €17,779 | €67,498 | +€49,718 | +280% |
| Profit (loss) for the period before taxes | 9903 | -€74,877 | -€94,745 | -€19,868 | -26.5% |
| Income taxes | 67/77 | €174 | €221 | +€46 | +26.6% |
| Profit (loss) for the period | 9904 | -€75,051 | -€94,966 | -€19,914 | -26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€75,051 | -€94,966 | -€19,914 | -26.5% |
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 26 October 2026 via checked.be.