TGIM: what changed
Two fiscal 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.
TGIM
Largest movements
- Receivables within one year +€56,032
up €56,032 (+224.8%), from €24,928 to €80,960
of which Other amounts receivable: +€51,462
- Cash +€6,806
up €6,806 (+14.7%), from €46,314 to €53,121
mainly Net result for the year (+€62,220) and Tax, wage and social debts (+€20,391)
- Reserves +€39,533
up €39,533 (+287.7%), from €13,739 to €53,272
- Profit (loss) carried forward +€22,687
up €22,687 (+57.4%), from €39,533 to €62,220
- Tax, wage and social debts +€20,391
up €20,391 (+83.2%), from €24,505 to €44,896
of which Taxes: +€18,920
- Debts after one year -€19,454
down €19,454 (-78.1%), from €24,899 to €5,445
- Gross operating margin +€39,555
up €39,555 (+41.8%), from €94,682 to €134,236
- Staff costs +€8,833
up €8,833 (+34.8%), from €25,384 to €34,217
- Taxes +€5,393
up €5,393 (+47.5%), from €11,347 to €16,739
- Depreciation +€2,761
up €2,761 (+17.4%), from €15,866 to €18,627
- Other operating charges +€1,766
up €1,766 (+247.5%), from €713 to €2,479
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 | €128,083 | €190,954 | +€62,871 | +49.1% |
| Fixed assets | 21/28 | €56,840 | €56,873 | +€33 | +0.1% |
| Tangible fixed assets | 22/27 | €56,840 | €56,873 | +€33 | +0.1% |
| Plant, machinery and equipment | 23 | €6,501 | €18,894 | +€12,393 | +190.6% |
| Furniture and vehicles | 24 | €50,340 | €37,979 | -€12,360 | -24.6% |
| Current assets | 29/58 | €71,242 | €134,081 | +€62,838 | +88.2% |
| Amounts receivable within one year | 40/41 | €24,928 | €80,960 | +€56,032 | +224.8% |
| Trade receivables | 40 | €19,972 | €24,542 | +€4,570 | +22.9% |
| Other amounts receivable | 41 | €4,956 | €56,418 | +€51,462 | +1038.4% |
| Cash at bank and in hand | 54/58 | €46,314 | €53,121 | +€6,806 | +14.7% |
| Total equity and liabilities | 10/49 | €128,083 | €190,954 | +€62,871 | +49.1% |
| Equity | 10/15 | €57,272 | €119,492 | +€62,220 | +108.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €13,739 | €53,272 | +€39,533 | +287.7% |
| Distributable reserves | 133 | €13,739 | €53,272 | +€39,533 | +287.7% |
| Profit (loss) carried forward | 14 | €39,533 | €62,220 | +€22,687 | +57.4% |
| Amounts payable | 17/49 | €70,811 | €71,462 | +€651 | +0.9% |
| Amounts payable after more than one year | 17 | €24,899 | €5,445 | -€19,454 | -78.1% |
| Financial debts | 170/4 | €24,899 | €5,445 | -€19,454 | -78.1% |
| Amounts payable within one year | 42/48 | €45,912 | €66,017 | +€20,105 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €18,664 | €19,454 | +€790 | +4.2% |
| Trade debts | 44 | €2,743 | €1,667 | -€1,076 | -39.2% |
| Suppliers | 440/4 | €2,743 | €1,667 | -€1,076 | -39.2% |
| Taxes, remuneration and social security | 45 | €24,505 | €44,896 | +€20,391 | +83.2% |
| Taxes | 450/3 | €21,062 | €39,983 | +€18,920 | +89.8% |
| Remuneration and social security | 454/9 | €3,442 | €4,913 | +€1,471 | +42.7% |
| Remuneration, social security and pensions | 62 | €25,384 | €34,217 | +€8,833 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,866 | €18,627 | +€2,761 | +17.4% |
| Other operating charges | 640/8 | €713 | €2,479 | +€1,766 | +247.5% |
| Gross operating margin | 9900 | €94,682 | €134,236 | +€39,555 | +41.8% |
| Operating profit (loss) | 9901 | €52,718 | €78,913 | +€26,195 | +49.7% |
| Financial income | 75/76B | - | €1,663 | +€1,663 | |
| Recurring financial income | 75 | - | €1,663 | +€1,663 | |
| Financial charges | 65/66B | €1,838 | €1,617 | -€222 | -12.1% |
| Recurring financial charges | 65 | €1,838 | €1,617 | -€222 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €50,879 | €78,960 | +€28,080 | +55.2% |
| Income taxes | 67/77 | €11,347 | €16,739 | +€5,393 | +47.5% |
| Profit (loss) for the period | 9904 | €39,533 | €62,220 | +€22,687 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,533 | €62,220 | +€22,687 | +57.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.