TCMC: 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.
TCMC
Largest movements
- Receivables within one year +€55,389
up €55,389 (+209.8%), from €26,399 to €81,788
of which Other amounts receivable: +€70,224
- Cash -€15,454
down €15,454 (-41.4%), from €37,358 to €21,904
mainly Contributions, distributions and other (-€164,287) and Receivables within one year (-€55,389)
- Tangible fixed assets -€1,437
down €1,437 (-11.4%), from €12,587 to €11,150
of which Plant, machinery and equipment: -€773
- Receivables after one year -€1,333
down €1,333 (-100.0%), from €1,333 to €0
- Other debts +€91,838
up €91,838 (+1904.3%), from €4,823 to €96,661
- Reserves -€51,301
down €51,301 (-94.5%), from €54,287 to €2,987
- Tax, wage and social debts -€5,880
down €5,880 (-47.8%), from €12,312 to €6,432
- Short-term financial debts +€3,205
up €3,205 (+494.1%), from €649 to €3,854
- Financial income +€120,296
up €120,296 (+346974.4%), from €35 to €120,331
- Gross operating margin -€14,032
down €14,032 (-73.6%), from €19,073 to €5,040
- Depreciation +€1,595
up €1,595 (+45.0%), from €3,542 to €5,137
- Taxes +€639
up €639 (+14.2%), from €4,488 to €5,127
- Financial charges +€384
up €384 (+61.4%), from €626 to €1,010
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 | €82,546 | €119,947 | +€37,401 | +45.3% |
| Fixed assets | 21/28 | €15,937 | €14,500 | -€1,437 | -9.0% |
| Tangible fixed assets | 22/27 | €12,587 | €11,150 | -€1,437 | -11.4% |
| Plant, machinery and equipment | 23 | €2,411 | €1,638 | -€773 | -32.0% |
| Furniture and vehicles | 24 | €10,176 | €9,512 | -€664 | -6.5% |
| Financial fixed assets | 28 | €3,350 | €3,350 | = | 0.0% |
| Current assets | 29/58 | €66,609 | €105,447 | +€38,838 | +58.3% |
| Amounts receivable after more than one year | 29 | €1,333 | €0 | -€1,333 | -100.0% |
| Other amounts receivable | 291 | €1,333 | €0 | -€1,333 | -100.0% |
| Amounts receivable within one year | 40/41 | €26,399 | €81,788 | +€55,389 | +209.8% |
| Trade receivables | 40 | €26,330 | €11,495 | -€14,835 | -56.3% |
| Other amounts receivable | 41 | €69 | €70,293 | +€70,224 | +101070.2% |
| Cash at bank and in hand | 54/58 | €37,358 | €21,904 | -€15,454 | -41.4% |
| Deferred charges and accrued income | 490/1 | €1,519 | €1,755 | +€237 | +15.6% |
| Total equity and liabilities | 10/49 | €82,546 | €119,947 | +€37,401 | +45.3% |
| Equity | 10/15 | €64,287 | €12,987 | -€51,301 | -79.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €54,287 | €2,987 | -€51,301 | -94.5% |
| Distributable reserves | 133 | €54,287 | €2,987 | -€51,301 | -94.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,259 | €106,961 | +€88,702 | +485.8% |
| Amounts payable within one year | 42/48 | €18,259 | €106,961 | +€88,702 | +485.8% |
| Financial debts | 43 | €649 | €3,854 | +€3,205 | +494.1% |
| Credit institutions | 430/8 | €649 | €3,854 | +€3,205 | +494.1% |
| Trade debts | 44 | €476 | €14 | -€462 | -97.1% |
| Suppliers | 440/4 | €476 | €14 | -€462 | -97.1% |
| Taxes, remuneration and social security | 45 | €12,312 | €6,432 | -€5,880 | -47.8% |
| Taxes | 450/3 | €12,312 | €6,432 | -€5,880 | -47.8% |
| Other amounts payable | 47/48 | €4,823 | €96,661 | +€91,838 | +1904.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,542 | €5,137 | +€1,595 | +45.0% |
| Other operating charges | 640/8 | €1,247 | €1,110 | -€137 | -11.0% |
| Gross operating margin | 9900 | €19,073 | €5,040 | -€14,032 | -73.6% |
| Operating profit (loss) | 9901 | €14,284 | -€1,206 | -€15,491 | |
| Financial income | 75/76B | €35 | €120,331 | +€120,296 | +346974.4% |
| Recurring financial income | 75 | €35 | €120,331 | +€120,296 | +346974.4% |
| Financial charges | 65/66B | €626 | €1,010 | +€384 | +61.4% |
| Recurring financial charges | 65 | €626 | €1,010 | +€384 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €13,693 | €118,114 | +€104,421 | +762.6% |
| Income taxes | 67/77 | €4,488 | €5,127 | +€639 | +14.2% |
| Profit (loss) for the period | 9904 | €9,205 | €112,987 | +€103,782 | +1127.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,205 | €112,987 | +€103,782 | +1127.5% |
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 9 October 2026 via checked.be.