T-MINING: what changed
Two fiscal 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-MINING
Largest movements
- Current investments +€650,000
up €650,000 (+108.3%), from €600,000 to €1.3m
- Receivables within one year +€522,069
up €522,069 (+181.1%), from €288,263 to €810,332
of which Other amounts receivable: +€564,178
- Intangible fixed assets +€417,781
up €417,781 (+29.7%), from €1.4m to €1.8m
- Cash -€214,960
down €214,960 (-21.5%), from €999,608 to €784,648
mainly Investment in fixed assets (net) (-€888,419) and Current investments (-€650,000)
- Profit (loss) carried forward +€1.2m
up €1.2m (+104.0%), from €1.2m to €2.4m
- Investment grants +€369,332
up €369,332 (+416.2%), from €88,746 to €458,078
- Current portion of long-term debt -€148,741
down €148,741 (-78.8%), from €188,719 to €39,977
- Accrued charges and deferred income +€96,593
up €96,593 (+133.3%), from €72,466 to €169,059
- Trade debts -€78,601
down €78,601 (-28.2%), from €278,428 to €199,827
- Gross operating margin +€276,719
up €276,719 (+14.0%), from €2.0m to €2.3m
- Taxes -€128,313
down €128,313, from €108,877 to -€19,436
- Financial income -€94,004
down €94,004 (-51.4%), from €182,937 to €88,933
- Financial charges +€82,099
up €82,099 (+412.3%), from €19,911 to €102,011
- Staff costs +€39,720
up €39,720 (+7.6%), from €522,318 to €562,038
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 | €3,452,803 | €4,869,464 | +€1.4m | +41.0% |
| Fixed assets | 21/28 | €1,429,941 | €1,850,422 | +€420,481 | +29.4% |
| Intangible fixed assets | 21 | €1,408,648 | €1,826,429 | +€417,781 | +29.7% |
| Tangible fixed assets | 22/27 | €21,292 | €23,992 | +€2,700 | +12.7% |
| Furniture and vehicles | 24 | €21,292 | €22,515 | +€1,223 | +5.7% |
| Other tangible fixed assets | 26 | - | €1,477 | +€1,477 | |
| Current assets | 29/58 | €2,022,862 | €3,019,043 | +€996,180 | +49.2% |
| Amounts receivable within one year | 40/41 | €288,263 | €810,332 | +€522,069 | +181.1% |
| Trade receivables | 40 | €242,193 | €200,084 | -€42,109 | -17.4% |
| Other amounts receivable | 41 | €46,069 | €610,248 | +€564,178 | +1224.6% |
| Current investments | 50/53 | €600,000 | €1,250,000 | +€650,000 | +108.3% |
| Cash at bank and in hand | 54/58 | €999,608 | €784,648 | -€214,960 | -21.5% |
| Deferred charges and accrued income | 490/1 | €134,992 | €174,063 | +€39,071 | +28.9% |
| Total equity and liabilities | 10/49 | €3,452,803 | €4,869,464 | +€1.4m | +41.0% |
| Equity | 10/15 | €2,746,868 | €4,339,433 | +€1.6m | +58.0% |
| Contributions | 10/11 | €1,431,946 | €1,431,946 | = | 0.0% |
| Capital | 10 | €505,288 | €505,288 | = | 0.0% |
| Issued capital | 100 | €505,288 | €505,288 | = | 0.0% |
| Outside capital | 11 | €926,657 | €926,657 | = | 0.0% |
| Share premium | 1100/10 | €926,657 | €926,657 | = | 0.0% |
| Reserves | 13 | €50,529 | €50,529 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,529 | €50,529 | = | 0.0% |
| Legal reserve | 130 | €50,529 | €50,529 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,175,647 | €2,398,880 | +€1.2m | +104.0% |
| Investment grants | 15 | €88,746 | €458,078 | +€369,332 | +416.2% |
| Amounts payable | 17/49 | €705,935 | €530,032 | -€175,904 | -24.9% |
| Amounts payable after more than one year | 17 | €98,847 | €58,870 | -€39,977 | -40.4% |
| Financial debts | 170/4 | €98,847 | €58,870 | -€39,977 | -40.4% |
| Amounts payable within one year | 42/48 | €534,622 | €302,103 | -€232,519 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €188,719 | €39,977 | -€148,741 | -78.8% |
| Trade debts | 44 | €278,428 | €199,827 | -€78,601 | -28.2% |
| Suppliers | 440/4 | €278,428 | €199,827 | -€78,601 | -28.2% |
| Taxes, remuneration and social security | 45 | €67,475 | €62,298 | -€5,177 | -7.7% |
| Taxes | 450/3 | €6,805 | €1,445 | -€5,360 | -78.8% |
| Remuneration and social security | 454/9 | €60,670 | €60,852 | +€182 | +0.3% |
| Accrued charges and deferred income | 492/3 | €72,466 | €169,059 | +€96,593 | +133.3% |
| Remuneration, social security and pensions | 62 | €522,318 | €562,038 | +€39,720 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €502,985 | €467,938 | -€35,048 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €351 | €6,035 | +€5,684 | +1619.6% |
| Other operating charges | 640/8 | €1,279 | €4,758 | +€3,480 | +272.2% |
| Gross operating margin | 9900 | €1,980,925 | €2,257,644 | +€276,719 | +14.0% |
| Operating profit (loss) | 9901 | €953,992 | €1,216,875 | +€262,883 | +27.6% |
| Financial income | 75/76B | €182,937 | €88,933 | -€94,004 | -51.4% |
| Recurring financial income | 75 | €182,937 | €88,933 | -€94,004 | -51.4% |
| Financial charges | 65/66B | €19,911 | €102,011 | +€82,099 | +412.3% |
| Recurring financial charges | 65 | €19,911 | €102,011 | +€82,099 | +412.3% |
| Profit (loss) for the period before taxes | 9903 | €1,117,018 | €1,203,797 | +€86,780 | +7.8% |
| Income taxes | 67/77 | €108,877 | -€19,436 | -€128,313 | |
| Profit (loss) for the period | 9904 | €1,008,140 | €1,223,233 | +€215,093 | +21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,008,140 | €1,223,233 | +€215,093 | +21.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.