TFM CONSULT: 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.
TFM CONSULT
Largest movements
- Receivables within one year +€6,572
up €6,572 (+273%), from €2,405 to €8,977
of which Trade receivables: +€8,977
- Cash +€4,903
up €4,903 (+352%), from €1,393 to €6,296
mainly Other debts (+€11,362) and Tax, wage and social debts (+€3,917)
- Deferred charges and accrued income -€1,064
no longer reported in 2025 (was €1,064)
- Other debts +€11,362
new in 2025: €11,362
- Profit (loss) carried forward -€5,373
new in 2025: -€5,373
- Tax, wage and social debts +€3,917
up €3,917 (+287%), from €1,367 to €5,285
- Trade debts +€1,147
up €1,147 (+45.2%), from €2,538 to €3,685
- Advances received -€642
no longer reported in 2025 (was €642)
- Gross operating margin -€8,593
down €8,593, from €3,735 to -€4,857
- Taxes -€1,183
down €1,183 (-89.4%), from €1,324 to €141
- Depreciation -€1,151
no longer reported in 2025 (was €1,151)
- Other operating charges -€889
no longer reported in 2025 (was €889)
- Financial charges +€215
up €215 (+134%), from €160 to €375
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 | €4,861 | €15,273 | +€10,412 | +214% |
| Current assets | 29/58 | €4,861 | €15,273 | +€10,412 | +214% |
| Amounts receivable within one year | 40/41 | €2,405 | €8,977 | +€6,572 | +273% |
| Trade receivables | 40 | - | €8,977 | +€8,977 | |
| Other amounts receivable | 41 | €2,405 | - | -€2,405 | |
| Cash at bank and in hand | 54/58 | €1,393 | €6,296 | +€4,903 | +352% |
| Deferred charges and accrued income | 490/1 | €1,064 | - | -€1,064 | |
| Total equity and liabilities | 10/49 | €4,861 | €15,273 | +€10,412 | +214% |
| Equity | 10/15 | €314 | -€5,059 | -€5,373 | |
| Contributions | 10/11 | €101 | €101 | = | 0.0% |
| Reserves | 13 | €213 | €213 | = | 0.0% |
| Distributable reserves | 133 | €213 | €213 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,373 | -€5,373 | |
| Amounts payable | 17/49 | €4,547 | €20,332 | +€15,784 | +347% |
| Amounts payable within one year | 42/48 | €4,547 | €20,332 | +€15,784 | +347% |
| Trade debts | 44 | €2,538 | €3,685 | +€1,147 | +45.2% |
| Suppliers | 440/4 | €2,538 | €3,685 | +€1,147 | +45.2% |
| Advances received on contracts in progress | 46 | €642 | - | -€642 | |
| Taxes, remuneration and social security | 45 | €1,367 | €5,285 | +€3,917 | +287% |
| Taxes | 450/3 | €1,367 | €5,285 | +€3,917 | +287% |
| Other amounts payable | 47/48 | - | €11,362 | +€11,362 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,151 | - | -€1,151 | |
| Other operating charges | 640/8 | €889 | - | -€889 | |
| Gross operating margin | 9900 | €3,735 | -€4,857 | -€8,593 | |
| Operating profit (loss) | 9901 | €1,695 | -€4,857 | -€6,552 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €160 | €375 | +€215 | +134% |
| Recurring financial charges | 65 | €160 | €375 | +€215 | +134% |
| Profit (loss) for the period before taxes | 9903 | €1,537 | -€5,232 | -€6,769 | |
| Income taxes | 67/77 | €1,324 | €141 | -€1,183 | -89.4% |
| Profit (loss) for the period | 9904 | €213 | -€5,373 | -€5,586 | |
| Profit (loss) for the period to be appropriated | 9905 | €213 | -€5,373 | -€5,586 |
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 19 October 2026 via checked.be.