TandM: 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.
TandM
Largest movements
- Tangible fixed assets -€76,374
down €76,374 (-9.0%), from €850,035 to €773,661
of which Land and buildings: -€48,643
- Cash +€72,518
up €72,518 (+85.3%), from €85,008 to €157,526
mainly Net result for the year (+€121,209) and Depreciation (+€88,763)
- Current investments +€27,009
up €27,009 (+37.0%), from €73,094 to €100,103
- Receivables within one year -€15,883
down €15,883 (-26.8%), from €59,228 to €43,345
of which Other amounts receivable: -€16,296
- Reserves -€86,125
down €86,125 (-11.5%), from €748,182 to €662,058
- Debts after one year +€58,174
up €58,174 (+26.9%), from €215,873 to €274,047
- Current portion of long-term debt +€31,419
up €31,419 (+73.4%), from €42,822 to €74,241
- Gross operating margin +€71,081
up €71,081 (+24.3%), from €292,242 to €363,322
- Taxes +€17,409
up €17,409 (+50.2%), from €34,660 to €52,069
- Staff costs +€9,782
up €9,782 (+11.9%), from €81,916 to €91,699
- Financial charges +€4,344
up €4,344 (+107%), from €4,047 to €8,391
of which Financial charges: +€4,155
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 | €1,072,443 | €1,086,493 | +€14,049 | +1.3% |
| Fixed assets | 21/28 | €850,035 | €773,661 | -€76,374 | -9.0% |
| Tangible fixed assets | 22/27 | €850,035 | €773,661 | -€76,374 | -9.0% |
| Land and buildings | 22 | €737,194 | €688,551 | -€48,643 | -6.6% |
| Plant, machinery and equipment | 23 | €85,559 | €65,109 | -€20,451 | -23.9% |
| Furniture and vehicles | 24 | €27,281 | €20,001 | -€7,280 | -26.7% |
| Current assets | 29/58 | €222,408 | €312,832 | +€90,423 | +40.7% |
| Amounts receivable within one year | 40/41 | €59,228 | €43,345 | -€15,883 | -26.8% |
| Trade receivables | 40 | €7,865 | €8,279 | +€414 | +5.3% |
| Other amounts receivable | 41 | €51,363 | €35,067 | -€16,296 | -31.7% |
| Current investments | 50/53 | €73,094 | €100,103 | +€27,009 | +37.0% |
| Cash at bank and in hand | 54/58 | €85,008 | €157,526 | +€72,518 | +85.3% |
| Deferred charges and accrued income | 490/1 | €5,078 | €11,857 | +€6,779 | +134% |
| Total equity and liabilities | 10/49 | €1,072,443 | €1,086,493 | +€14,049 | +1.3% |
| Equity | 10/15 | €766,782 | €680,658 | -€86,125 | -11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €748,182 | €662,058 | -€86,125 | -11.5% |
| Distributable reserves | 133 | €748,182 | €662,058 | -€86,125 | -11.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €305,661 | €405,835 | +€100,174 | +32.8% |
| Amounts payable after more than one year | 17 | €215,873 | €274,047 | +€58,174 | +26.9% |
| Financial debts | 170/4 | €215,873 | €274,047 | +€58,174 | +26.9% |
| Amounts payable within one year | 42/48 | €74,314 | €108,264 | +€33,950 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | €42,822 | €74,241 | +€31,419 | +73.4% |
| Trade debts | 44 | €18,937 | €13,794 | -€5,143 | -27.2% |
| Suppliers | 440/4 | €18,937 | €13,794 | -€5,143 | -27.2% |
| Taxes, remuneration and social security | 45 | €9,433 | €14,224 | +€4,791 | +50.8% |
| Taxes | 450/3 | €0 | €1,513 | +€1,513 | |
| Remuneration and social security | 454/9 | €9,433 | €12,712 | +€3,279 | +34.8% |
| Other amounts payable | 47/48 | €3,122 | €6,005 | +€2,883 | +92.3% |
| Accrued charges and deferred income | 492/3 | €15,474 | €23,524 | +€8,050 | +52.0% |
| Remuneration, social security and pensions | 62 | €81,916 | €91,699 | +€9,782 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,672 | €88,763 | +€2,091 | +2.4% |
| Other operating charges | 640/8 | €1,745 | €1,745 | +€0 | 0.0% |
| Gross operating margin | 9900 | €292,242 | €363,322 | +€71,081 | +24.3% |
| Operating profit (loss) | 9901 | €121,909 | €181,115 | +€59,207 | +48.6% |
| Financial income | 75/76B | €909 | €554 | -€356 | -39.1% |
| Recurring financial income | 75 | €339 | €554 | +€214 | +63.1% |
| Non-recurring financial income | 76B | €570 | €0 | -€570 | -100% |
| Financial charges | 65/66B | €4,047 | €8,391 | +€4,344 | +107% |
| Recurring financial charges | 65 | €4,047 | €8,202 | +€4,155 | +103% |
| Non-recurring financial charges | 66B | - | €189 | +€189 | |
| Profit (loss) for the period before taxes | 9903 | €118,771 | €173,278 | +€54,507 | +45.9% |
| Income taxes | 67/77 | €34,660 | €52,069 | +€17,409 | +50.2% |
| Profit (loss) for the period | 9904 | €84,112 | €121,209 | +€37,097 | +44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €84,112 | €121,209 | +€37,097 | +44.1% |
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 13 October 2026 via checked.be.