T2M FINANCE: 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.
T2M FINANCE
Largest movements
- Tangible fixed assets +€355,033
up €355,033 (+182%), from €194,617 to €549,650
of which Land and buildings: +€357,184
- Current investments -€46,966
down €46,966 (-26.3%), from €178,240 to €131,274
- Cash +€45,385
up €45,385 (+96.7%), from €46,913 to €92,298
mainly Debts after one year (+€256,252) and Net result for the year (+€110,064)
- Debts after one year +€256,252
up €256,252 (+103%), from €248,080 to €504,332
- Reserves +€108,398
up €108,398 (+31.0%), from €349,308 to €457,706
- Current portion of long-term debt +€14,238
up €14,238 (+55.7%), from €25,561 to €39,799
- Tax, wage and social debts -€11,761
down €11,761 (-22.5%), from €52,265 to €40,504
- Gross operating margin +€65,294
up €65,294 (+40.1%), from €162,675 to €227,969
- Other operating charges +€21,572
up €21,572 (+3,194%), from €675 to €22,248
- Depreciation +€13,530
up €13,530 (+314%), from €4,303 to €17,834
- Taxes +€7,889
up €7,889 (+16.1%), from €48,912 to €56,800
- Financial charges +€3,758
up €3,758 (+19.3%), from €19,454 to €23,212
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 | €703,586 | €1,069,328 | +€365,742 | +52.0% |
| Fixed assets | 21/28 | €444,617 | €799,650 | +€355,033 | +79.9% |
| Tangible fixed assets | 22/27 | €194,617 | €549,650 | +€355,033 | +182% |
| Land and buildings | 22 | €189,191 | €546,375 | +€357,184 | +189% |
| Furniture and vehicles | 24 | €3,601 | €1,833 | -€1,769 | -49.1% |
| Other tangible fixed assets | 26 | €1,824 | €1,442 | -€383 | -21.0% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €258,970 | €269,679 | +€10,709 | +4.1% |
| Amounts receivable within one year | 40/41 | €31,141 | €40,753 | +€9,611 | +30.9% |
| Trade receivables | 40 | €31,099 | €40,753 | +€9,653 | +31.0% |
| Other amounts receivable | 41 | €42 | €0 | -€42 | -100% |
| Current investments | 50/53 | €178,240 | €131,274 | -€46,966 | -26.3% |
| Cash at bank and in hand | 54/58 | €46,913 | €92,298 | +€45,385 | +96.7% |
| Deferred charges and accrued income | 490/1 | €2,675 | €5,354 | +€2,678 | +100% |
| Total equity and liabilities | 10/49 | €703,586 | €1,069,328 | +€365,742 | +52.0% |
| Equity | 10/15 | €361,708 | €470,106 | +€108,398 | +30.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €349,308 | €457,706 | +€108,398 | +31.0% |
| Distributable reserves | 133 | €349,308 | €457,706 | +€108,398 | +31.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €341,878 | €599,222 | +€257,344 | +75.3% |
| Amounts payable after more than one year | 17 | €248,080 | €504,332 | +€256,252 | +103% |
| Financial debts | 170/4 | €248,080 | €504,332 | +€256,252 | +103% |
| Amounts payable within one year | 42/48 | €83,424 | €83,022 | -€402 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €25,561 | €39,799 | +€14,238 | +55.7% |
| Trade debts | 44 | €1,580 | €825 | -€756 | -47.8% |
| Suppliers | 440/4 | €1,580 | €825 | -€756 | -47.8% |
| Taxes, remuneration and social security | 45 | €52,265 | €40,504 | -€11,761 | -22.5% |
| Taxes | 450/3 | €52,265 | €40,504 | -€11,761 | -22.5% |
| Other amounts payable | 47/48 | €4,018 | €1,895 | -€2,123 | -52.8% |
| Accrued charges and deferred income | 492/3 | €10,374 | €11,868 | +€1,494 | +14.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,303 | €17,834 | +€13,530 | +314% |
| Other operating charges | 640/8 | €675 | €22,248 | +€21,572 | +3,194% |
| Gross operating margin | 9900 | €162,675 | €227,969 | +€65,294 | +40.1% |
| Operating profit (loss) | 9901 | €157,696 | €187,887 | +€30,191 | +19.1% |
| Financial income | 75/76B | €4,957 | €2,189 | -€2,768 | -55.8% |
| Recurring financial income | 75 | €4,957 | €2,189 | -€2,768 | -55.8% |
| Financial charges | 65/66B | €19,454 | €23,212 | +€3,758 | +19.3% |
| Recurring financial charges | 65 | €19,454 | €23,212 | +€3,758 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €143,200 | €166,864 | +€23,665 | +16.5% |
| Income taxes | 67/77 | €48,912 | €56,800 | +€7,889 | +16.1% |
| Profit (loss) for the period | 9904 | €94,288 | €110,064 | +€15,776 | +16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €94,288 | €110,064 | +€15,776 | +16.7% |
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 29 October 2026 via checked.be.