TCMI: 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.
TCMI
Largest movements
- Receivables within one year -€94,851
down €94,851 (-39.5%), from €240,254 to €145,404
of which Other amounts receivable: -€90,588
- Reserves -€115,845
down €115,845 (-38.0%), from €305,099 to €189,254
- Tax, wage and social debts +€16,611
up €16,611 (+157.9%), from €10,521 to €27,132
of which Taxes: +€14,595
- Gross operating margin -€8,733
down €8,733 (-10.3%), from €84,467 to €75,734
- Staff costs -€3,419
down €3,419 (-13.0%), from €26,339 to €22,920
- Financial income +€2,144
up €2,144 (+18.8%), from €11,421 to €13,564
of which Financial income: +€1,346
- Taxes -€999
down €999 (-5.5%), from €18,146 to €17,148
- Financial charges -€936
down €936 (-12.0%), from €7,770 to €6,834
of which Non-recurring financial charges: -€830
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 | €330,199 | €230,579 | -€99,619 | -30.2% |
| Fixed assets | 21/28 | €4,003 | €1,441 | -€2,562 | -64.0% |
| Tangible fixed assets | 22/27 | €4,003 | €1,441 | -€2,562 | -64.0% |
| Plant, machinery and equipment | 23 | €1,746 | €1,216 | -€530 | -30.4% |
| Furniture and vehicles | 24 | €1,504 | €225 | -€1,279 | -85.0% |
| Other tangible fixed assets | 26 | €752 | - | -€752 | |
| Current assets | 29/58 | €326,196 | €229,138 | -€97,057 | -29.8% |
| Amounts receivable after more than one year | 29 | €34,420 | €31,178 | -€3,241 | -9.4% |
| Other amounts receivable | 291 | €34,420 | €31,178 | -€3,241 | -9.4% |
| Amounts receivable within one year | 40/41 | €240,254 | €145,404 | -€94,851 | -39.5% |
| Trade receivables | 40 | €39,933 | €35,670 | -€4,263 | -10.7% |
| Other amounts receivable | 41 | €200,321 | €109,734 | -€90,588 | -45.2% |
| Cash at bank and in hand | 54/58 | €50,197 | €52,213 | +€2,015 | +4.0% |
| Deferred charges and accrued income | 490/1 | €1,325 | €344 | -€981 | -74.0% |
| Total equity and liabilities | 10/49 | €330,199 | €230,579 | -€99,619 | -30.2% |
| Equity | 10/15 | €315,099 | €199,254 | -€115,845 | -36.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €305,099 | €189,254 | -€115,845 | -38.0% |
| Distributable reserves | 133 | €305,099 | €189,254 | -€115,845 | -38.0% |
| Amounts payable | 17/49 | €15,100 | €31,325 | +€16,225 | +107.5% |
| Amounts payable within one year | 42/48 | €15,100 | €31,325 | +€16,225 | +107.5% |
| Current portion of amounts payable after more than one year | 42 | €2,137 | €2,129 | -€8 | -0.4% |
| Trade debts | 44 | €2,441 | €2,064 | -€377 | -15.5% |
| Suppliers | 440/4 | €2,441 | €2,064 | -€377 | -15.5% |
| Taxes, remuneration and social security | 45 | €10,521 | €27,132 | +€16,611 | +157.9% |
| Taxes | 450/3 | €6,309 | €20,904 | +€14,595 | +231.3% |
| Remuneration and social security | 454/9 | €4,212 | €6,228 | +€2,016 | +47.9% |
| Remuneration, social security and pensions | 62 | €26,339 | €22,920 | -€3,419 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,628 | €2,562 | -€66 | -2.5% |
| Other operating charges | 640/8 | €503 | €125 | -€378 | -75.2% |
| Gross operating margin | 9900 | €84,467 | €75,734 | -€8,733 | -10.3% |
| Operating profit (loss) | 9901 | €54,997 | €50,127 | -€4,870 | -8.9% |
| Financial income | 75/76B | €11,421 | €13,564 | +€2,144 | +18.8% |
| Recurring financial income | 75 | €11,421 | €12,767 | +€1,346 | +11.8% |
| Non-recurring financial income | 76B | - | €797 | +€797 | |
| Financial charges | 65/66B | €7,770 | €6,834 | -€936 | -12.0% |
| Recurring financial charges | 65 | €6,658 | €6,552 | -€106 | -1.6% |
| Non-recurring financial charges | 66B | €1,112 | €282 | -€830 | -74.6% |
| Profit (loss) for the period before taxes | 9903 | €58,648 | €56,857 | -€1,791 | -3.1% |
| Income taxes | 67/77 | €18,146 | €17,148 | -€999 | -5.5% |
| Profit (loss) for the period | 9904 | €40,502 | €39,710 | -€792 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,502 | €39,710 | -€792 | -2.0% |
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 12 October 2026 via checked.be.