TBM MANAGEMENT: 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.
TBM MANAGEMENT
Largest movements
- Cash +€66,897
up €66,897 (+1018.0%), from €6,572 to €73,468
mainly Net result for the year (+€53,454) and Receivables within one year (+€32,572)
- Receivables within one year -€32,572
down €32,572 (-23.1%), from €140,961 to €108,389
of which Trade receivables: -€86,853
- Intangible fixed assets +€5,923
up €5,923 (+58.7%), from €10,086 to €16,009
- Profit (loss) carried forward +€42,204
up €42,204 (+41.6%), from €101,473 to €143,677
- Tax, wage and social debts -€29,114
down €29,114 (-68.4%), from €42,591 to €13,476
of which Taxes: -€30,215
- Other debts +€15,464
up €15,464 (+1208.8%), from €1,279 to €16,743
- Trade debts +€11,024
up €11,024 (+56.4%), from €19,550 to €30,574
- Advances received +€6,171
up €6,171 (+392.0%), from €1,574 to €7,745
- Gross operating margin -€61,915
down €61,915 (-45.6%), from €135,665 to €73,749
- Taxes -€11,353
down €11,353 (-45.4%), from €25,029 to €13,677
- Staff costs -€10,449
no longer reported in 2025 (was €10,449)
- Other operating charges -€3,568
down €3,568 (-82.0%), from €4,352 to €784
- Depreciation +€3,433
up €3,433 (+631.6%), from €544 to €3,977
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 | €172,819 | €214,215 | +€41,396 | +24.0% |
| Fixed assets | 21/28 | €25,286 | €31,209 | +€5,923 | +23.4% |
| Intangible fixed assets | 21 | €10,086 | €16,009 | +€5,923 | +58.7% |
| Financial fixed assets | 28 | €15,200 | €15,200 | = | 0.0% |
| Current assets | 29/58 | €147,533 | €183,006 | +€35,473 | +24.0% |
| Amounts receivable within one year | 40/41 | €140,961 | €108,389 | -€32,572 | -23.1% |
| Trade receivables | 40 | €123,466 | €36,613 | -€86,853 | -70.3% |
| Other amounts receivable | 41 | €17,495 | €71,775 | +€54,281 | +310.3% |
| Cash at bank and in hand | 54/58 | €6,572 | €73,468 | +€66,897 | +1018.0% |
| Deferred charges and accrued income | 490/1 | - | €1,149 | +€1,149 | |
| Total equity and liabilities | 10/49 | €172,819 | €214,215 | +€41,396 | +24.0% |
| Equity | 10/15 | €103,473 | €145,677 | +€42,204 | +40.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,473 | €143,677 | +€42,204 | +41.6% |
| Amounts payable | 17/49 | €69,346 | €68,538 | -€807 | -1.2% |
| Amounts payable within one year | 42/48 | €64,994 | €68,538 | +€3,545 | +5.5% |
| Trade debts | 44 | €19,550 | €30,574 | +€11,024 | +56.4% |
| Suppliers | 440/4 | €19,550 | €30,574 | +€11,024 | +56.4% |
| Advances received on contracts in progress | 46 | €1,574 | €7,745 | +€6,171 | +392.0% |
| Taxes, remuneration and social security | 45 | €42,591 | €13,476 | -€29,114 | -68.4% |
| Taxes | 450/3 | €42,191 | €11,976 | -€30,215 | -71.6% |
| Remuneration and social security | 454/9 | €399 | €1,500 | +€1,101 | +275.9% |
| Other amounts payable | 47/48 | €1,279 | €16,743 | +€15,464 | +1208.8% |
| Accrued charges and deferred income | 492/3 | €4,352 | - | -€4,352 | |
| Non-recurring operating income | 76A | €15 | €3,725 | +€3,710 | +25002.0% |
| Remuneration, social security and pensions | 62 | €10,449 | - | -€10,449 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €544 | €3,977 | +€3,433 | +631.6% |
| Other operating charges | 640/8 | €4,352 | €784 | -€3,568 | -82.0% |
| Non-recurring operating charges | 66A | €222 | €1,264 | +€1,042 | +469.7% |
| Gross operating margin | 9900 | €135,665 | €73,749 | -€61,915 | -45.6% |
| Operating profit (loss) | 9901 | €120,098 | €67,725 | -€52,374 | -43.6% |
| Financial income | 75/76B | €16 | €774 | +€758 | +4664.0% |
| Recurring financial income | 75 | €16 | €774 | +€758 | +4664.0% |
| Financial charges | 65/66B | €4 | €1,368 | +€1,364 | +34024.2% |
| Recurring financial charges | 65 | €4 | €168 | +€164 | +4099.0% |
| Non-recurring financial charges | 66B | - | €1,200 | +€1,200 | |
| Profit (loss) for the period before taxes | 9903 | €120,110 | €67,130 | -€52,980 | -44.1% |
| Income taxes | 67/77 | €25,029 | €13,677 | -€11,353 | -45.4% |
| Profit (loss) for the period | 9904 | €95,081 | €53,454 | -€41,627 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,081 | €53,454 | -€41,627 | -43.8% |
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 9 October 2026 via checked.be.