T.P.M.: what changed
What changed
T.P.M.
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€397,238
2024 · €546,648-€149,410
Equity
€5.0m
2024 · €5.3m-€339,605
Cash
€612,408
2024 · €1.8m-€1.2m
Balance sheet total
€8.1m
2024 · €9.3m-€1.1m
Largest movements
Assets
- Cash -€1.2m
down €1.2m (-65.8%), from €1.8m to €612,408
mainly Contributions, distributions and other (-€736,842) and Other debts (-€451,722)
- Receivables within one year +€122,814
up €122,814 (+6.4%), from €1.9m to €2.1m
of which Other amounts receivable: +€165,164
Equity and liabilities
- Other debts -€451,722
down €451,722 (-14.2%), from €3.2m to €2.7m
- Reserves -€339,605
down €339,605 (-6.5%), from €5.2m to €4.9m
of which Distributable reserves: -€339,605
- Tax, wage and social debts -€299,159
down €299,159 (-85.8%), from €348,556 to €49,397
of which Taxes: -€299,159
Income statement
- Taxes +€244,765
up €244,765 (+209%), from €117,022 to €361,787
- Financial income +€90,662
up €90,662 (+16.3%), from €555,336 to €645,998
- Financial charges +€28,342
up €28,342 (+80.4%), from €35,249 to €63,591
of which Financial charges: +€28,342
- Gross operating margin +€27,517
up €27,517 (+11.3%), from €242,724 to €270,241
- Other operating charges -€5,054
down €5,054 (-28.6%), from €17,648 to €12,594
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€546,648
Gross operating margin
+€27,517
Depreciation
+€464
Other operating charges
+€5,054
Financial income
+€90,662
Financial charges
-€28,342
Taxes
-€244,765
Result 2025
€397,238
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€394,676
Investment
-€9,785
Financing
-€775,010
Cash 2024
€1.8m
From operations (derived)
-€394,676
Net result for the year
+€397,238
Depreciation
+€81,029
Receivables within one year
-€122,814
Deferred charges and accrued income
+€3,976
Trade debts
-€2,269
Tax, wage and social debts
-€299,159
Other debts
-€451,722
Accrued charges and deferred income
-€955
Investment (derived)
-€9,785
Current investments
-€9,785
Financing
-€775,010
Debts after one year
-€40,284
Current portion of long-term debt
+€2,116
Contributions, distributions and other
-€736,842
Cash 2025
€612,408
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,281,679 | €8,149,802 | -€1.1m | -12.2% |
| Fixed assets | 21/28 | €2,286,600 | €2,205,571 | -€81,029 | -3.5% |
| Tangible fixed assets | 22/27 | €843,585 | €762,556 | -€81,029 | -9.6% |
| Land and buildings | 22 | €759,487 | €718,127 | -€41,359 | -5.4% |
| Plant, machinery and equipment | 23 | €407 | €0 | -€407 | -100% |
| Furniture and vehicles | 24 | €83,692 | €44,429 | -€39,263 | -46.9% |
| Financial fixed assets | 28 | €1,443,015 | €1,443,015 | = | 0.0% |
| Current assets | 29/58 | €6,995,079 | €5,944,231 | -€1.1m | -15.0% |
| Amounts receivable within one year | 40/41 | €1,928,945 | €2,051,759 | +€122,814 | +6.4% |
| Trade receivables | 40 | €84,700 | €42,350 | -€42,350 | -50.0% |
| Other amounts receivable | 41 | €1,844,245 | €2,009,409 | +€165,164 | +9.0% |
| Current investments | 50/53 | €3,267,792 | €3,277,577 | +€9,785 | +0.3% |
| Cash at bank and in hand | 54/58 | €1,791,880 | €612,408 | -€1.2m | -65.8% |
| Deferred charges and accrued income | 490/1 | €6,463 | €2,486 | -€3,976 | -61.5% |
| Total equity and liabilities | 10/49 | €9,281,679 | €8,149,802 | -€1.1m | -12.2% |
| Equity | 10/15 | €5,300,724 | €4,961,120 | -€339,605 | -6.4% |
| Contributions | 10/11 | €65,046 | €65,046 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Contributions outside capital | 11 | €2,546 | €2,546 | = | 0.0% |
| Share premium | 1100/10 | €2,546 | €2,546 | = | 0.0% |
| Reserves | 13 | €5,235,678 | €4,896,074 | -€339,605 | -6.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €5,229,428 | €4,889,824 | -€339,605 | -6.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,980,955 | €3,188,682 | -€792,273 | -19.9% |
| Amounts payable after more than one year | 17 | €422,003 | €381,719 | -€40,284 | -9.5% |
| Other amounts payable | 178/9 | €422,003 | €381,719 | -€40,284 | -9.5% |
| Amounts payable within one year | 42/48 | €3,557,997 | €2,806,963 | -€751,034 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €33,858 | €35,974 | +€2,116 | +6.2% |
| Trade debts | 44 | €4,755 | €2,486 | -€2,269 | -47.7% |
| Suppliers | 440/4 | €4,755 | €2,486 | -€2,269 | -47.7% |
| Taxes, remuneration and social security | 45 | €348,556 | €49,397 | -€299,159 | -85.8% |
| Taxes | 450/3 | €342,998 | €43,838 | -€299,159 | -87.2% |
| Remuneration and social security | 454/9 | €5,559 | €5,559 | = | 0.0% |
| Other amounts payable | 47/48 | €3,170,827 | €2,719,105 | -€451,722 | -14.2% |
| Accrued charges and deferred income | 492/3 | €955 | €0 | -€955 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,493 | €81,029 | -€464 | -0.6% |
| Other operating charges | 640/8 | €17,648 | €12,594 | -€5,054 | -28.6% |
| Gross operating margin | 9900 | €242,724 | €270,241 | +€27,517 | +11.3% |
| Operating profit (loss) | 9901 | €143,583 | €176,618 | +€33,035 | +23.0% |
| Financial income | 75/76B | €555,336 | €645,998 | +€90,662 | +16.3% |
| Recurring financial income | 75 | €555,336 | €645,998 | +€90,662 | +16.3% |
| Financial charges | 65/66B | €35,249 | €63,591 | +€28,342 | +80.4% |
| Recurring financial charges | 65 | €35,249 | €63,591 | +€28,342 | +80.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €663,670 | €759,024 | +€95,354 | +14.4% |
| Income taxes | 67/77 | €117,022 | €361,787 | +€244,765 | +209% |
| Profit (loss) for the period | 9904 | €546,648 | €397,238 | -€149,410 | -27.3% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €546,648 | €397,238 | -€149,410 | -27.3% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.