TC MGMT: 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.
TC MGMT
Largest movements
- Cash +€85,230
up €85,230 (+354%), from €24,090 to €109,320
mainly Other debts (+€149,166) and Net result for the year (+€117,741)
- Receivables within one year -€32,444
down €32,444 (-100%), from €32,444 to €0
of which Trade receivables: -€30,523
- Tangible fixed assets -€13,626
down €13,626 (-3.9%), from €351,206 to €337,580
of which Land and buildings: -€12,486
- Other debts +€149,166
new in 2025: €149,166
- Profit (loss) carried forward -€76,103
down €76,103 (-100%), from €76,103 to €0
- Debts after one year -€34,141
down €34,141 (-13.5%), from €253,316 to €219,175
- Gross operating margin +€67,310
up €67,310 (+59.6%), from €112,871 to €180,181
- Taxes +€15,492
up €15,492 (+69.2%), from €22,385 to €37,876
- Financial income -€6,176
down €6,176 (-91.9%), from €6,719 to €543
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 | €410,589 | €449,842 | +€39,253 | +9.6% |
| Fixed assets | 21/28 | €351,206 | €337,580 | -€13,626 | -3.9% |
| Tangible fixed assets | 22/27 | €351,206 | €337,580 | -€13,626 | -3.9% |
| Land and buildings | 22 | €345,919 | €333,433 | -€12,486 | -3.6% |
| Plant, machinery and equipment | 23 | €2,147 | €695 | -€1,451 | -67.6% |
| Furniture and vehicles | 24 | €3,141 | €3,452 | +€311 | +9.9% |
| Current assets | 29/58 | €59,383 | €112,262 | +€52,879 | +89.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €32,444 | €0 | -€32,444 | -100% |
| Trade receivables | 40 | €30,523 | €0 | -€30,523 | -100% |
| Other amounts receivable | 41 | €1,921 | €0 | -€1,921 | -100% |
| Cash at bank and in hand | 54/58 | €24,090 | €109,320 | +€85,230 | +354% |
| Deferred charges and accrued income | 490/1 | €2,849 | €2,943 | +€94 | +3.3% |
| Total equity and liabilities | 10/49 | €410,589 | €449,842 | +€39,253 | +9.6% |
| Equity | 10/15 | €76,203 | €100 | -€76,103 | -99.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,103 | €0 | -€76,103 | -100% |
| Amounts payable | 17/49 | €334,386 | €449,742 | +€115,356 | +34.5% |
| Amounts payable after more than one year | 17 | €253,316 | €219,175 | -€34,141 | -13.5% |
| Financial debts | 170/4 | €253,316 | €219,175 | -€34,141 | -13.5% |
| Amounts payable within one year | 42/48 | €79,485 | €230,567 | +€151,082 | +190% |
| Current portion of amounts payable after more than one year | 42 | €33,630 | €34,141 | +€512 | +1.5% |
| Trade debts | 44 | €2,748 | €2,973 | +€225 | +8.2% |
| Suppliers | 440/4 | €2,748 | €2,973 | +€225 | +8.2% |
| Taxes, remuneration and social security | 45 | €43,107 | €44,288 | +€1,181 | +2.7% |
| Taxes | 450/3 | €43,107 | €44,288 | +€1,181 | +2.7% |
| Other amounts payable | 47/48 | - | €149,166 | +€149,166 | |
| Accrued charges and deferred income | 492/3 | €1,585 | €0 | -€1,585 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,398 | €14,397 | -€1 | 0.0% |
| Other operating charges | 640/8 | €708 | €2,302 | +€1,594 | +225% |
| Non-recurring operating charges | 66A | - | €2,225 | +€2,225 | |
| Gross operating margin | 9900 | €112,871 | €180,181 | +€67,310 | +59.6% |
| Operating profit (loss) | 9901 | €97,765 | €161,256 | +€63,491 | +64.9% |
| Financial income | 75/76B | €6,719 | €543 | -€6,176 | -91.9% |
| Recurring financial income | 75 | €6,719 | €543 | -€6,176 | -91.9% |
| Financial charges | 65/66B | €5,996 | €6,182 | +€186 | +3.1% |
| Recurring financial charges | 65 | €5,996 | €6,182 | +€186 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €98,488 | €155,617 | +€57,130 | +58.0% |
| Income taxes | 67/77 | €22,385 | €37,876 | +€15,492 | +69.2% |
| Profit (loss) for the period | 9904 | €76,103 | €117,741 | +€41,638 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,103 | €117,741 | +€41,638 | +54.7% |
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 19 October 2026 via checked.be.