TDM & PARTNERS: 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.
TDM & PARTNERS
Largest movements
- Receivables within one year +€107,714
up €107,714 (+3,305%), from €3,259 to €110,973
of which Trade receivables: +€72,100
- Current investments -€96,701
down €96,701 (-69.6%), from €138,951 to €42,250
- Tangible fixed assets -€2,936
down €2,936 (-45.0%), from €6,518 to €3,582
- Profit (loss) carried forward -€227,271
no longer reported in 2025 (was €227,271)
- Other debts +€199,064
up €199,064 (+757%), from €26,309 to €225,373
- Tax, wage and social debts +€35,953
up €35,953 (+8,378%), from €429 to €36,382
- Gross operating margin -€92,092
down €92,092 (-75.7%), from €121,715 to €29,623
- Taxes -€17,988
down €17,988 (-63.1%), from €28,507 to €10,519
- Financial income -€1,384
down €1,384 (-31.6%), from €4,374 to €2,991
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €256,509 | €264,254 | +€7,745 | +3.0% |
| Fixed assets | 21/28 | €113,968 | €111,032 | -€2,936 | -2.6% |
| Tangible fixed assets | 22/27 | €6,518 | €3,582 | -€2,936 | -45.0% |
| Furniture and vehicles | 24 | €6,518 | €3,582 | -€2,936 | -45.0% |
| Financial fixed assets | 28 | €107,450 | €107,450 | = | 0.0% |
| Current assets | 29/58 | €142,541 | €153,222 | +€10,682 | +7.5% |
| Amounts receivable within one year | 40/41 | €3,259 | €110,973 | +€107,714 | +3,305% |
| Trade receivables | 40 | €2,857 | €74,957 | +€72,100 | +2,523% |
| Other amounts receivable | 41 | €402 | €36,015 | +€35,614 | +8,862% |
| Current investments | 50/53 | €138,951 | €42,250 | -€96,701 | -69.6% |
| Deferred charges and accrued income | 490/1 | €330 | - | -€330 | |
| Total equity and liabilities | 10/49 | €256,509 | €264,254 | +€7,745 | +3.0% |
| Equity | 10/15 | €229,771 | €2,500 | -€227,271 | -98.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €227,271 | - | -€227,271 | |
| Amounts payable | 17/49 | €26,738 | €261,754 | +€235,016 | +879% |
| Amounts payable within one year | 42/48 | €26,738 | €261,754 | +€235,016 | +879% |
| Taxes, remuneration and social security | 45 | €429 | €36,382 | +€35,953 | +8,378% |
| Taxes | 450/3 | €429 | €36,382 | +€35,953 | +8,378% |
| Other amounts payable | 47/48 | €26,309 | €225,373 | +€199,064 | +757% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,531 | €4,385 | -€146 | -3.2% |
| Other operating charges | 640/8 | €246 | €1,063 | +€817 | +332% |
| Gross operating margin | 9900 | €121,715 | €29,623 | -€92,092 | -75.7% |
| Operating profit (loss) | 9901 | €116,939 | €24,175 | -€92,763 | -79.3% |
| Financial income | 75/76B | €4,374 | €2,991 | -€1,384 | -31.6% |
| Recurring financial income | 75 | €4,374 | €2,991 | -€1,384 | -31.6% |
| Financial charges | 65/66B | €1,821 | €1,374 | -€447 | -24.6% |
| Recurring financial charges | 65 | €1,821 | €1,374 | -€447 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €119,492 | €25,792 | -€93,700 | -78.4% |
| Income taxes | 67/77 | €28,507 | €10,519 | -€17,988 | -63.1% |
| Profit (loss) for the period | 9904 | €90,985 | €15,273 | -€75,712 | -83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €90,985 | €15,273 | -€75,712 | -83.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.