TCM CONSTRUCT CONCEPT: what changed
Two fiscal 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 CONSTRUCT CONCEPT
Largest movements
- Receivables within one year +€219,835
up €219,835 (+82.2%), from €267,528 to €487,363
of which Trade receivables: +€125,792
- Stocks and contracts +€45,000
new in 2025: €45,000
- Cash -€22,102
no longer reported in 2025 (was €22,102)
mainly Receivables within one year (-€219,835) and Investment in fixed assets (net) (-€61,687)
- Tangible fixed assets +€14,765
up €14,765 (+6.0%), from €247,891 to €262,655
of which Land and buildings: +€26,061
- Trade debts +€117,578
up €117,578 (+120.6%), from €97,493 to €215,071
of which Suppliers: +€117,578
- Debts after one year +€49,024
up €49,024 (+29.0%), from €168,930 to €217,954
- Tax, wage and social debts +€33,142
up €33,142 (+38.3%), from €86,517 to €119,659
of which Remuneration and social security: +€19,799
- Profit (loss) carried forward +€24,184
up €24,184 (+15.5%), from €156,428 to €180,612
- Short-term financial debts +€21,743
new in 2025: €21,743
- Gross operating margin -€36,830
down €36,830 (-10.9%), from €338,532 to €301,702
- Staff costs -€20,439
down €20,439 (-10.2%), from €199,696 to €179,257
- Depreciation +€15,528
up €15,528 (+49.5%), from €31,394 to €46,922
- Other operating charges -€12,079
down €12,079 (-44.1%), from €27,369 to €15,290
- Taxes +€6,156
up €6,156 (+38.6%), from €15,963 to €22,118
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 | €538,645 | €796,143 | +€257,498 | +47.8% |
| Fixed assets | 21/28 | €249,016 | €263,780 | +€14,765 | +5.9% |
| Tangible fixed assets | 22/27 | €247,891 | €262,655 | +€14,765 | +6.0% |
| Land and buildings | 22 | €169,073 | €195,134 | +€26,061 | +15.4% |
| Plant, machinery and equipment | 23 | €14,722 | €11,668 | -€3,055 | -20.7% |
| Furniture and vehicles | 24 | €64,095 | €55,853 | -€8,242 | -12.9% |
| Financial fixed assets | 28 | €1,125 | €1,125 | = | 0.0% |
| Current assets | 29/58 | €289,629 | €532,363 | +€242,733 | +83.8% |
| Stocks and contracts in progress | 3 | - | €45,000 | +€45,000 | |
| Contracts in progress | 37 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €267,528 | €487,363 | +€219,835 | +82.2% |
| Trade receivables | 40 | €240,977 | €366,769 | +€125,792 | +52.2% |
| Other amounts receivable | 41 | €26,551 | €120,594 | +€94,043 | +354.2% |
| Cash at bank and in hand | 54/58 | €22,102 | - | -€22,102 | |
| Total equity and liabilities | 10/49 | €538,645 | €796,143 | +€257,498 | +47.8% |
| Equity | 10/15 | €158,428 | €182,612 | +€24,184 | +15.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,428 | €180,612 | +€24,184 | +15.5% |
| Amounts payable | 17/49 | €380,217 | €613,532 | +€233,315 | +61.4% |
| Amounts payable after more than one year | 17 | €168,930 | €217,954 | +€49,024 | +29.0% |
| Financial debts | 170/4 | €168,930 | €217,954 | +€49,024 | +29.0% |
| Amounts payable within one year | 42/48 | €211,287 | €395,578 | +€184,291 | +87.2% |
| Current portion of amounts payable after more than one year | 42 | €27,277 | €39,104 | +€11,828 | +43.4% |
| Financial debts | 43 | - | €21,743 | +€21,743 | |
| Credit institutions | 430/8 | - | €21,743 | +€21,743 | |
| Trade debts | 44 | €97,493 | €215,071 | +€117,578 | +120.6% |
| Suppliers | 440/4 | €91,032 | €208,610 | +€117,578 | +129.2% |
| Bills of exchange payable | 441 | €6,461 | €6,461 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €86,517 | €119,659 | +€33,142 | +38.3% |
| Taxes | 450/3 | €33,512 | €46,855 | +€13,343 | +39.8% |
| Remuneration and social security | 454/9 | €53,005 | €72,804 | +€19,799 | +37.4% |
| Remuneration, social security and pensions | 62 | €199,696 | €179,257 | -€20,439 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,394 | €46,922 | +€15,528 | +49.5% |
| Other operating charges | 640/8 | €27,369 | €15,290 | -€12,079 | -44.1% |
| Gross operating margin | 9900 | €338,532 | €301,702 | -€36,830 | -10.9% |
| Operating profit (loss) | 9901 | €80,073 | €60,232 | -€19,840 | -24.8% |
| Financial income | 75/76B | €41 | - | -€41 | |
| Recurring financial income | 75 | €41 | - | -€41 | |
| Financial charges | 65/66B | €8,667 | €13,931 | +€5,264 | +60.7% |
| Recurring financial charges | 65 | €8,667 | €13,931 | +€5,264 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €71,447 | €46,302 | -€25,145 | -35.2% |
| Income taxes | 67/77 | €15,963 | €22,118 | +€6,156 | +38.6% |
| Profit (loss) for the period | 9904 | €55,484 | €24,184 | -€31,301 | -56.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,484 | €24,184 | -€31,301 | -56.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.