TCM: 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.
TCM
Largest movements
- Cash -€94,116
down €94,116 (-99.6%), from €94,533 to €418
mainly Contributions, distributions and other (-€246,408) and Debts after one year (-€74,166)
- Tangible fixed assets -€53,673
down €53,673 (-4.9%), from €1.1m to €1.0m
- Deferred charges and accrued income +€15,668
up €15,668 (+485%), from €3,229 to €18,897
- Reserves -€80,552
down €80,552 (-12.3%), from €654,408 to €573,856
of which Distributable reserves: -€78,692
- Debts after one year -€74,166
down €74,166 (-20.7%), from €358,013 to €283,847
- Tax, wage and social debts +€21,794
up €21,794 (+274%), from €7,956 to €29,750
- Gross operating margin +€71,442
up €71,442 (+25.4%), from €281,320 to €352,762
- Taxes +€22,454
up €22,454 (+39.2%), from €57,296 to €79,750
- Depreciation +€7,134
up €7,134 (+10.7%), from €66,827 to €73,961
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 | €1,219,784 | €1,084,364 | -€135,420 | -11.1% |
| Fixed assets | 21/28 | €1,091,786 | €1,038,114 | -€53,673 | -4.9% |
| Tangible fixed assets | 22/27 | €1,091,786 | €1,038,114 | -€53,673 | -4.9% |
| Land and buildings | 22 | €966,598 | €944,328 | -€22,271 | -2.3% |
| Plant, machinery and equipment | 23 | €26,692 | €23,282 | -€3,409 | -12.8% |
| Furniture and vehicles | 24 | €62,464 | €48,024 | -€14,440 | -23.1% |
| Leasing and similar rights | 25 | €12,927 | €7,578 | -€5,349 | -41.4% |
| Other tangible fixed assets | 26 | €23,104 | €14,901 | -€8,203 | -35.5% |
| Current assets | 29/58 | €127,997 | €46,250 | -€81,747 | -63.9% |
| Amounts receivable within one year | 40/41 | €30,235 | €26,935 | -€3,300 | -10.9% |
| Trade receivables | 40 | €9,460 | €10,090 | +€630 | +6.7% |
| Other amounts receivable | 41 | €20,775 | €16,845 | -€3,930 | -18.9% |
| Cash at bank and in hand | 54/58 | €94,533 | €418 | -€94,116 | -99.6% |
| Deferred charges and accrued income | 490/1 | €3,229 | €18,897 | +€15,668 | +485% |
| Total equity and liabilities | 10/49 | €1,219,784 | €1,084,364 | -€135,420 | -11.1% |
| Equity | 10/15 | €711,543 | €630,992 | -€80,552 | -11.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €654,408 | €573,856 | -€80,552 | -12.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €15 | €15 | = | 0.0% |
| Distributable reserves | 133 | €652,533 | €573,841 | -€78,692 | -12.1% |
| Profit (loss) carried forward | 14 | €44,735 | €44,735 | = | 0.0% |
| Amounts payable | 17/49 | €508,240 | €453,372 | -€54,868 | -10.8% |
| Amounts payable after more than one year | 17 | €358,013 | €283,847 | -€74,166 | -20.7% |
| Financial debts | 170/4 | €358,013 | €283,847 | -€74,166 | -20.7% |
| Amounts payable within one year | 42/48 | €150,227 | €169,525 | +€19,298 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €86,300 | €74,166 | -€12,134 | -14.1% |
| Financial debts | 43 | €0 | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | €0 | €10,000 | +€10,000 | |
| Trade debts | 44 | €21,615 | €25,668 | +€4,053 | +18.8% |
| Suppliers | 440/4 | €21,615 | €25,668 | +€4,053 | +18.8% |
| Taxes, remuneration and social security | 45 | €7,956 | €29,750 | +€21,794 | +274% |
| Taxes | 450/3 | €7,956 | €29,750 | +€21,794 | +274% |
| Other amounts payable | 47/48 | €34,356 | €29,941 | -€4,415 | -12.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €5,522 | €0 | -€5,522 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,827 | €73,961 | +€7,134 | +10.7% |
| Other operating charges | 640/8 | €18,153 | €18,263 | +€111 | +0.6% |
| Gross operating margin | 9900 | €281,320 | €352,762 | +€71,442 | +25.4% |
| Operating profit (loss) | 9901 | €196,341 | €260,538 | +€64,197 | +32.7% |
| Financial income | 75/76B | €0 | €1,046 | +€1,046 | +10,464,100% |
| Recurring financial income | 75 | €0 | €1,046 | +€1,046 | +10,464,100% |
| Financial charges | 65/66B | €17,681 | €15,978 | -€1,703 | -9.6% |
| Recurring financial charges | 65 | €17,681 | €15,978 | -€1,703 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €178,659 | €245,606 | +€66,946 | +37.5% |
| Income taxes | 67/77 | €57,296 | €79,750 | +€22,454 | +39.2% |
| Profit (loss) for the period | 9904 | €121,363 | €165,856 | +€44,493 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €121,363 | €165,856 | +€44,493 | +36.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.