T.MGT: 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.MGT
Largest movements
- Financial fixed assets +€68,571
up €68,571 (+57.8%), from €118,650 to €187,221
- Cash -€11,391
down €11,391 (-9.9%), from €115,421 to €104,031
mainly Investment in fixed assets (net) (-€68,571) and Debts after one year (-€11,715)
- Tangible fixed assets -€8,052
down €8,052 (-57.7%), from €13,948 to €5,896
- Receivables within one year +€3,555
up €3,555 (+62.4%), from €5,693 to €9,248
of which Trade receivables: +€3,601
- Reserves +€76,085
up €76,085 (+59.3%), from €128,198 to €204,283
- Debts after one year -€11,715
down €11,715 (-14.6%), from €80,325 to €68,611
of which Financial debts: -€11,215
- Current portion of long-term debt -€6,578
down €6,578 (-37.0%), from €17,793 to €11,215
- Tax, wage and social debts -€4,981
down €4,981 (-21.5%), from €23,182 to €18,201
- Gross operating margin +€30,020
up €30,020 (+58.3%), from €51,497 to €81,517
- Taxes +€10,208
up €10,208 (+59.2%), from €17,246 to €27,453
- Financial income +€8,137
up €8,137 (+34.8%), from €23,390 to €31,527
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 | €254,882 | €307,606 | +€52,724 | +20.7% |
| Fixed assets | 21/28 | €132,598 | €193,117 | +€60,519 | +45.6% |
| Tangible fixed assets | 22/27 | €13,948 | €5,896 | -€8,052 | -57.7% |
| Furniture and vehicles | 24 | €13,948 | €5,896 | -€8,052 | -57.7% |
| Financial fixed assets | 28 | €118,650 | €187,221 | +€68,571 | +57.8% |
| Current assets | 29/58 | €122,284 | €114,489 | -€7,795 | -6.4% |
| Amounts receivable within one year | 40/41 | €5,693 | €9,248 | +€3,555 | +62.4% |
| Trade receivables | 40 | €5,545 | €9,147 | +€3,601 | +64.9% |
| Other amounts receivable | 41 | €148 | €102 | -€47 | -31.4% |
| Cash at bank and in hand | 54/58 | €115,421 | €104,031 | -€11,391 | -9.9% |
| Deferred charges and accrued income | 490/1 | €1,169 | €1,210 | +€41 | +3.5% |
| Total equity and liabilities | 10/49 | €254,882 | €307,606 | +€52,724 | +20.7% |
| Equity | 10/15 | €133,198 | €209,283 | +€76,085 | +57.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €128,198 | €204,283 | +€76,085 | +59.3% |
| Distributable reserves | 133 | €128,198 | €204,283 | +€76,085 | +59.3% |
| Amounts payable | 17/49 | €121,683 | €98,323 | -€23,360 | -19.2% |
| Amounts payable after more than one year | 17 | €80,325 | €68,611 | -€11,715 | -14.6% |
| Financial debts | 170/4 | €79,690 | €68,475 | -€11,215 | -14.1% |
| Other amounts payable | 178/9 | €636 | €136 | -€500 | -78.7% |
| Amounts payable within one year | 42/48 | €41,132 | €29,486 | -€11,646 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €17,793 | €11,215 | -€6,578 | -37.0% |
| Trade debts | 44 | €157 | €70 | -€86 | -55.0% |
| Suppliers | 440/4 | €157 | €70 | -€86 | -55.0% |
| Taxes, remuneration and social security | 45 | €23,182 | €18,201 | -€4,981 | -21.5% |
| Taxes | 450/3 | €23,182 | €18,201 | -€4,981 | -21.5% |
| Accrued charges and deferred income | 492/3 | €226 | €226 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,089 | €8,052 | -€37 | -0.5% |
| Other operating charges | 640/8 | €639 | €904 | +€266 | +41.6% |
| Gross operating margin | 9900 | €51,497 | €81,517 | +€30,020 | +58.3% |
| Operating profit (loss) | 9901 | €42,770 | €72,561 | +€29,791 | +69.7% |
| Financial income | 75/76B | €23,390 | €31,527 | +€8,137 | +34.8% |
| Recurring financial income | 75 | €23,390 | €31,527 | +€8,137 | +34.8% |
| Financial charges | 65/66B | €673 | €549 | -€124 | -18.4% |
| Recurring financial charges | 65 | €673 | €549 | -€124 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €65,486 | €103,538 | +€38,052 | +58.1% |
| Income taxes | 67/77 | €17,246 | €27,453 | +€10,208 | +59.2% |
| Profit (loss) for the period | 9904 | €48,241 | €76,085 | +€27,844 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,241 | €76,085 | +€27,844 | +57.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.