TCM SOURCING: 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 SOURCING
Largest movements
- Cash +€4,888
up €4,888 (+6.1%), from €80,704 to €85,593
mainly Net result for the year (+€40,104) and Depreciation (+€2,241)
- Current investments -€1,949
down €1,949 (-2.8%), from €69,654 to €67,706
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€12,987
up €12,987 (+28.0%), from €46,391 to €59,378
- Financial income -€3,643
down €3,643 (-64.5%), from €5,648 to €2,005
- Financial charges -€2,816
down €2,816 (-55.7%), from €5,055 to €2,239
- Taxes +€2,639
up €2,639 (+19.5%), from €13,515 to €16,154
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 | €177,382 | €181,052 | +€3,670 | +2.1% |
| Fixed assets | 21/28 | €5,131 | €4,716 | -€415 | -8.1% |
| Tangible fixed assets | 22/27 | €5,106 | €4,691 | -€415 | -8.1% |
| Plant, machinery and equipment | 23 | €1,313 | €788 | -€525 | -40.0% |
| Furniture and vehicles | 24 | €3,792 | €3,903 | +€110 | +2.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €172,252 | €176,337 | +€4,085 | +2.4% |
| Amounts receivable within one year | 40/41 | €16,326 | €18,020 | +€1,694 | +10.4% |
| Trade receivables | 40 | €16,326 | €18,020 | +€1,694 | +10.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €69,654 | €67,706 | -€1,949 | -2.8% |
| Cash at bank and in hand | 54/58 | €80,704 | €85,593 | +€4,888 | +6.1% |
| Deferred charges and accrued income | 490/1 | €5,567 | €5,018 | -€549 | -9.9% |
| Total equity and liabilities | 10/49 | €177,382 | €181,052 | +€3,670 | +2.1% |
| Equity | 10/15 | €167,719 | €169,222 | +€1,503 | +0.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €155,319 | €156,822 | +€1,503 | +1.0% |
| Distributable reserves | 133 | €155,319 | €156,822 | +€1,503 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,664 | €11,830 | +€2,166 | +22.4% |
| Amounts payable within one year | 42/48 | €9,664 | €11,830 | +€2,166 | +22.4% |
| Trade debts | 44 | €1,064 | €1,762 | +€698 | +65.5% |
| Suppliers | 440/4 | €1,064 | €1,762 | +€698 | +65.5% |
| Taxes, remuneration and social security | 45 | €6,960 | €8,111 | +€1,151 | +16.5% |
| Taxes | 450/3 | €6,960 | €8,111 | +€1,151 | +16.5% |
| Other amounts payable | 47/48 | €1,639 | €1,957 | +€317 | +19.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,047 | €2,241 | +€194 | +9.5% |
| Other operating charges | 640/8 | €728 | €644 | -€84 | -11.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €46,391 | €59,378 | +€12,987 | +28.0% |
| Operating profit (loss) | 9901 | €43,616 | €56,493 | +€12,877 | +29.5% |
| Financial income | 75/76B | €5,648 | €2,005 | -€3,643 | -64.5% |
| Recurring financial income | 75 | €5,648 | €2,005 | -€3,643 | -64.5% |
| Financial charges | 65/66B | €5,055 | €2,239 | -€2,816 | -55.7% |
| Recurring financial charges | 65 | €5,055 | €2,239 | -€2,816 | -55.7% |
| Profit (loss) for the period before taxes | 9903 | €44,208 | €56,258 | +€12,050 | +27.3% |
| Income taxes | 67/77 | €13,515 | €16,154 | +€2,639 | +19.5% |
| Profit (loss) for the period | 9904 | €30,693 | €40,104 | +€9,412 | +30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,693 | €40,104 | +€9,412 | +30.7% |
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 24 October 2026 via checked.be.