TCMA: 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.
TCMA
Largest movements
- Stocks and contracts -€560,976
down €560,976 (-61.7%), from €909,210 to €348,234
- Cash -€110,510
down €110,510 (-79.8%), from €138,544 to €28,034
mainly Short-term financial debts (-€544,000) and Other debts (-€195,409)
- Deferred charges and accrued income -€11,592
no longer reported in 2024 (was €11,592)
- Short-term financial debts -€544,000
no longer reported in 2024 (was €544,000)
- Other debts -€195,409
down €195,409 (-46.6%), from €419,119 to €223,709
- Reserves +€41,570
up €41,570 (+89.8%), from €46,285 to €87,855
- Tax, wage and social debts +€14,964
up €14,964 (+85.6%), from €17,482 to €32,446
- Gross operating margin -€8,133
down €8,133 (-12.5%), from €64,974 to €56,841
- Taxes -€2,518
down €2,518 (-14.4%), from €17,482 to €14,964
- Other operating charges -€855
no longer reported in 2024 (was €855)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,059,346 | €376,269 | -€683,077 | -64.5% |
| Current assets | 29/58 | €1,059,346 | €376,269 | -€683,077 | -64.5% |
| Stocks and contracts in progress | 3 | €909,210 | €348,234 | -€560,976 | -61.7% |
| Stocks | 30/36 | €909,210 | €348,234 | -€560,976 | -61.7% |
| Cash at bank and in hand | 54/58 | €138,544 | €28,034 | -€110,510 | -79.8% |
| Deferred charges and accrued income | 490/1 | €11,592 | - | -€11,592 | |
| Total equity and liabilities | 10/49 | €1,059,346 | €376,269 | -€683,077 | -64.5% |
| Equity | 10/15 | €76,285 | €117,855 | +€41,570 | +54.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €46,285 | €87,855 | +€41,570 | +89.8% |
| Distributable reserves | 133 | €46,285 | €87,855 | +€41,570 | +89.8% |
| Amounts payable | 17/49 | €983,061 | €258,414 | -€724,647 | -73.7% |
| Amounts payable within one year | 42/48 | €983,061 | €258,414 | -€724,647 | -73.7% |
| Financial debts | 43 | €544,000 | - | -€544,000 | |
| Credit institutions | 430/8 | €544,000 | - | -€544,000 | |
| Trade debts | 44 | €2,461 | €2,259 | -€202 | -8.2% |
| Suppliers | 440/4 | €2,461 | €2,259 | -€202 | -8.2% |
| Taxes, remuneration and social security | 45 | €17,482 | €32,446 | +€14,964 | +85.6% |
| Taxes | 450/3 | €17,482 | €32,446 | +€14,964 | +85.6% |
| Other amounts payable | 47/48 | €419,119 | €223,709 | -€195,409 | -46.6% |
| Other operating charges | 640/8 | €855 | - | -€855 | |
| Gross operating margin | 9900 | €64,974 | €56,841 | -€8,133 | -12.5% |
| Operating profit (loss) | 9901 | €64,118 | €56,841 | -€7,278 | -11.4% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €352 | €307 | -€45 | -12.8% |
| Recurring financial charges | 65 | €352 | €307 | -€45 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €63,766 | €56,534 | -€7,232 | -11.3% |
| Income taxes | 67/77 | €17,482 | €14,964 | -€2,518 | -14.4% |
| Profit (loss) for the period | 9904 | €46,285 | €41,570 | -€4,714 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,285 | €41,570 | -€4,714 | -10.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.