TECHNICIENS DU MANAGEMENT: 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.
TECHNICIENS DU MANAGEMENT
Largest movements
- Cash +€23,596
up €23,596 (+46.7%), from €50,497 to €74,093
mainly Receivables within one year (+€12,092) and Net result for the year (+€11,580)
- Receivables within one year -€12,092
down €12,092 (-17.9%), from €67,595 to €55,504
of which Trade receivables: -€9,836
- Tangible fixed assets -€4,811
down €4,811 (-100%), from €4,811 to €0
- Reserves +€11,580
up €11,580 (+19.1%), from €60,494 to €72,074
of which Distributable reserves: +€11,580
- Current portion of long-term debt -€3,485
no longer reported in 2025 (was €3,485)
- Trade debts -€3,271
down €3,271 (-64.2%), from €5,093 to €1,822
- Tax, wage and social debts +€2,991
up €2,991 (+16.7%), from €17,859 to €20,849
- Gross operating margin -€6,951
down €6,951 (-23.6%), from €29,502 to €22,551
- Depreciation -€4,434
down €4,434 (-48.0%), from €9,244 to €4,811
- Taxes -€874
down €874 (-14.4%), from €6,060 to €5,186
- Financial income -€423
down €423 (-98.9%), from €428 to €5
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 | €124,364 | €131,718 | +€7,355 | +5.9% |
| Fixed assets | 21/28 | €4,961 | €150 | -€4,811 | -97.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €4,811 | €0 | -€4,811 | -100% |
| Furniture and vehicles | 24 | €4,811 | €0 | -€4,811 | -100% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €119,403 | €131,568 | +€12,165 | +10.2% |
| Amounts receivable within one year | 40/41 | €67,595 | €55,504 | -€12,092 | -17.9% |
| Trade receivables | 40 | €61,400 | €51,563 | -€9,836 | -16.0% |
| Other amounts receivable | 41 | €6,196 | €3,940 | -€2,255 | -36.4% |
| Cash at bank and in hand | 54/58 | €50,497 | €74,093 | +€23,596 | +46.7% |
| Deferred charges and accrued income | 490/1 | €1,311 | €1,972 | +€661 | +50.5% |
| Total equity and liabilities | 10/49 | €124,364 | €131,718 | +€7,355 | +5.9% |
| Equity | 10/15 | €92,176 | €102,923 | +€10,747 | +11.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €60,494 | €72,074 | +€11,580 | +19.1% |
| Tax-exempt reserves | 132 | €706 | €706 | = | 0.0% |
| Distributable reserves | 133 | €59,788 | €71,368 | +€11,580 | +19.4% |
| Profit (loss) carried forward | 14 | €16,682 | €15,849 | -€833 | -5.0% |
| Amounts payable | 17/49 | €32,188 | €28,795 | -€3,393 | -10.5% |
| Amounts payable within one year | 42/48 | €32,188 | €28,795 | -€3,393 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €3,485 | - | -€3,485 | |
| Financial debts | 43 | €43 | €206 | +€163 | +379% |
| Credit institutions | 430/8 | €43 | €206 | +€163 | +379% |
| Trade debts | 44 | €5,093 | €1,822 | -€3,271 | -64.2% |
| Suppliers | 440/4 | €5,093 | €1,822 | -€3,271 | -64.2% |
| Taxes, remuneration and social security | 45 | €17,859 | €20,849 | +€2,991 | +16.7% |
| Taxes | 450/3 | €17,859 | €20,849 | +€2,991 | +16.7% |
| Other amounts payable | 47/48 | €5,708 | €5,918 | +€210 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,244 | €4,811 | -€4,434 | -48.0% |
| Other operating charges | 640/8 | €515 | €527 | +€12 | +2.4% |
| Non-recurring operating charges | 66A | €126 | €105 | -€21 | -16.5% |
| Gross operating margin | 9900 | €29,502 | €22,551 | -€6,951 | -23.6% |
| Operating profit (loss) | 9901 | €19,616 | €17,107 | -€2,509 | -12.8% |
| Financial income | 75/76B | €428 | €5 | -€423 | -98.9% |
| Recurring financial income | 75 | €428 | €5 | -€423 | -98.9% |
| Financial charges | 65/66B | €378 | €346 | -€32 | -8.5% |
| Recurring financial charges | 65 | €378 | €346 | -€32 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €19,666 | €16,766 | -€2,900 | -14.7% |
| Income taxes | 67/77 | €6,060 | €5,186 | -€874 | -14.4% |
| Profit (loss) for the period | 9904 | €13,606 | €11,580 | -€2,026 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,606 | €11,580 | -€2,026 | -14.9% |
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 25 October 2026 via checked.be.