T. PALM MANAGEMENT: what changed
What changed
T. PALM MANAGEMENT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€39,893
2024 · -€45,075+€84,968
Equity
€6.0m
2024 · €5.1m+€849,893
Cash
€72,096
2024 · €29,016+€43,080
Balance sheet total
€13.0m
2024 · €12.0m+€943,830
Largest movements
Assets
- Financial fixed assets +€810,000
up €810,000 (+6.9%), from €11.8m to €12.6m
of which Affiliated companies: +€810,000
Equity and liabilities
- Contributions +€810,000
up €810,000 (+8.3%), from €9.7m to €10.5m
of which Capital: +€810,000
- Trade debts +€130,055
up €130,055 (+99.0%), from €131,394 to €261,449
Income statement
- Financial charges -€136,229
down €136,229 (-32.3%), from €421,448 to €285,219
of which Non-recurring financial charges: -€78,654
- Services and other goods +€50,132
up €50,132 (+13.2%), from €378,500 to €428,632
- Provisions -€21,723
no longer reported in 2025 (was €21,723)
- Financial income -€15,478
no longer reported in 2025 (was €15,478)
of which Non-recurring financial income: -€13,868
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
-€45,075
Turnover
-€2,087
Other operating income
-€2,879
Services and other goods
-€50,132
Staff costs
-€2,845
Provisions
+€21,723
Other operating charges
+€451
Financial income
-€15,478
Financial charges
+€136,229
Taxes
-€15
Result 2025
€39,893
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
+€43,080
Investment
-€810,000
Financing
+€810,000
Cash 2024
€29,016
From operations (derived)
+€43,080
Net result for the year
+€39,893
Receivables within one year
-€90,750
Trade debts
+€130,055
Tax, wage and social debts
-€4,501
Other debts
-€31,616
Investment (derived)
-€810,000
Investment in fixed assets (net)
-€810,000
Financing
+€810,000
Contributions, distributions and other
+€810,000
Cash 2025
€72,096
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,013,331 | €12,957,161 | +€943,830 | +7.9% |
| Fixed assets | 21/28 | €11,802,695 | €12,612,695 | +€810,000 | +6.9% |
| Financial fixed assets | 28 | €11,802,695 | €12,612,695 | +€810,000 | +6.9% |
| Affiliated companies | 280/1 | €11,802,332 | €12,612,332 | +€810,000 | +6.9% |
| Participating interests | 280 | €11,802,332 | €12,612,332 | +€810,000 | +6.9% |
| Other financial fixed assets | 284/8 | €363 | €363 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €210,636 | €344,466 | +€133,830 | +63.5% |
| Amounts receivable within one year | 40/41 | €181,620 | €272,370 | +€90,750 | +50.0% |
| Trade receivables | 40 | €181,620 | €272,370 | +€90,750 | +50.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €29,016 | €72,096 | +€43,080 | +148% |
| Total equity and liabilities | 10/49 | €12,013,331 | €12,957,161 | +€943,830 | +7.9% |
| Equity | 10/15 | €5,106,416 | €5,956,309 | +€849,893 | +16.6% |
| Contributions | 10/11 | €9,713,516 | €10,523,516 | +€810,000 | +8.3% |
| Capital | 10 | €9,711,285 | €10,521,285 | +€810,000 | +8.3% |
| Issued capital | 100 | €9,711,285 | €10,521,285 | +€810,000 | +8.3% |
| Contributions outside capital | 11 | €2,231 | €2,231 | = | 0.0% |
| Share premium | 1100/10 | €2,231 | €2,231 | = | 0.0% |
| Reserves | 13 | €337,953 | €337,953 | = | 0.0% |
| Non-distributable reserves | 130/1 | €337,953 | €337,953 | = | 0.0% |
| Legal reserve | 130 | €337,953 | €337,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,945,054 | -€4,905,161 | +€39,893 | +0.8% |
| Provisions and deferred taxes | 16 | €83,990 | €83,990 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €83,990 | €83,990 | = | 0.0% |
| Other liabilities and charges | 164/5 | €83,990 | €83,990 | = | 0.0% |
| Amounts payable | 17/49 | €6,822,926 | €6,916,862 | +€93,937 | +1.4% |
| Amounts payable within one year | 42/48 | €6,822,926 | €6,916,862 | +€93,937 | +1.4% |
| Trade debts | 44 | €131,394 | €261,449 | +€130,055 | +99.0% |
| Suppliers | 440/4 | €131,394 | €261,449 | +€130,055 | +99.0% |
| Taxes, remuneration and social security | 45 | €29,031 | €24,530 | -€4,501 | -15.5% |
| Taxes | 450/3 | €13,367 | €18,053 | +€4,686 | +35.1% |
| Remuneration and social security | 454/9 | €15,664 | €6,477 | -€9,187 | -58.7% |
| Other amounts payable | 47/48 | €6,662,500 | €6,630,884 | -€31,616 | -0.5% |
| Operating income | 70/76A | €877,141 | €872,176 | -€4,965 | -0.6% |
| Turnover | 70 | €873,998 | €871,911 | -€2,087 | -0.2% |
| Other operating income | 74 | €3,144 | €265 | -€2,879 | -91.6% |
| Operating charges | 60/66A | €516,062 | €546,864 | +€30,802 | +6.0% |
| Services and other goods | 61 | €378,500 | €428,632 | +€50,132 | +13.2% |
| Remuneration, social security and pensions | 62 | €113,980 | €116,825 | +€2,845 | +2.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €21,723 | - | -€21,723 | |
| Other operating charges | 640/8 | €1,859 | €1,408 | -€451 | -24.3% |
| Operating profit (loss) | 9901 | €361,079 | €325,312 | -€35,768 | -9.9% |
| Financial income | 75/76B | €15,478 | - | -€15,478 | |
| Recurring financial income | 75 | €1,611 | - | -€1,611 | |
| Income from current assets | 751 | €1,611 | - | -€1,611 | |
| Other financial income | 752/9 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €13,868 | - | -€13,868 | |
| Financial charges | 65/66B | €421,448 | €285,219 | -€136,229 | -32.3% |
| Recurring financial charges | 65 | €342,794 | €285,219 | -€57,575 | -16.8% |
| Debt charges | 650 | €342,768 | €282,932 | -€59,836 | -17.5% |
| Other financial charges | 652/9 | €26 | €2,287 | +€2,261 | +8,670% |
| Non-recurring financial charges | 66B | €78,654 | - | -€78,654 | |
| Profit (loss) for the period before taxes | 9903 | -€44,890 | €40,093 | +€84,983 | |
| Income taxes | 67/77 | €185 | €200 | +€15 | +7.9% |
| Taxes | 670/3 | €185 | €200 | +€15 | +7.9% |
| Profit (loss) for the period | 9904 | -€45,075 | €39,893 | +€84,968 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,075 | €39,893 | +€84,968 |
Next steps
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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 3 November 2026 via checked.be.