TGML: 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.
TGML
Largest movements
- Cash +€10,489
up €10,489 (+160.8%), from €6,524 to €17,013
mainly Debts after one year (+€54,578) and Net result for the year (+€37,689)
- Other debts -€93,260
down €93,260 (-86.3%), from €108,028 to €14,768
- Debts after one year +€54,578
up €54,578 (+15.4%), from €355,274 to €409,852
of which Financial debts: +€66,446
- Profit (loss) carried forward +€37,689
up €37,689 (+872.2%), from €4,321 to €42,010
- Tax, wage and social debts +€13,277
up €13,277 (+136.5%), from €9,729 to €23,006
of which Taxes: +€14,333
- Trade debts -€12,527
down €12,527 (-39.9%), from €31,403 to €18,876
- Gross operating margin +€44,509
up €44,509 (+236.4%), from €18,826 to €63,335
- Taxes +€8,251
up €8,251 (+557.5%), from €1,480 to €9,731
- Financial charges +€2,603
up €2,603 (+21.3%), from €12,249 to €14,852
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 | €521,516 | €529,555 | +€8,039 | +1.5% |
| Fixed assets | 21/28 | €500,000 | €502,420 | +€2,420 | +0.5% |
| Tangible fixed assets | 22/27 | - | €2,420 | +€2,420 | |
| Furniture and vehicles | 24 | - | €2,420 | +€2,420 | |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €21,516 | €27,135 | +€5,619 | +26.1% |
| Amounts receivable within one year | 40/41 | €14,870 | €10,000 | -€4,870 | -32.8% |
| Trade receivables | 40 | €9,870 | - | -€9,870 | |
| Other amounts receivable | 41 | €5,000 | €10,000 | +€5,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €6,524 | €17,013 | +€10,489 | +160.8% |
| Deferred charges and accrued income | 490/1 | €122 | €122 | = | 0.0% |
| Total equity and liabilities | 10/49 | €521,516 | €529,555 | +€8,039 | +1.5% |
| Equity | 10/15 | €4,321 | €42,010 | +€37,689 | +872.2% |
| Profit (loss) carried forward | 14 | €4,321 | €42,010 | +€37,689 | +872.2% |
| Amounts payable | 17/49 | €517,195 | €487,545 | -€29,650 | -5.7% |
| Amounts payable after more than one year | 17 | €355,274 | €409,852 | +€54,578 | +15.4% |
| Financial debts | 170/4 | €77,079 | €143,525 | +€66,446 | +86.2% |
| Other amounts payable | 178/9 | €278,195 | €266,327 | -€11,868 | -4.3% |
| Amounts payable within one year | 42/48 | €161,921 | €77,693 | -€84,228 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €12,761 | €21,043 | +€8,282 | +64.9% |
| Trade debts | 44 | €31,403 | €18,876 | -€12,527 | -39.9% |
| Suppliers | 440/4 | €31,403 | €18,876 | -€12,527 | -39.9% |
| Taxes, remuneration and social security | 45 | €9,729 | €23,006 | +€13,277 | +136.5% |
| Taxes | 450/3 | €8,673 | €23,006 | +€14,333 | +165.3% |
| Remuneration and social security | 454/9 | €1,056 | - | -€1,056 | |
| Other amounts payable | 47/48 | €108,028 | €14,768 | -€93,260 | -86.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €393 | +€393 | |
| Other operating charges | 640/8 | €776 | €670 | -€106 | -13.7% |
| Gross operating margin | 9900 | €18,826 | €63,335 | +€44,509 | +236.4% |
| Operating profit (loss) | 9901 | €18,050 | €62,272 | +€44,222 | +245.0% |
| Financial charges | 65/66B | €12,249 | €14,852 | +€2,603 | +21.3% |
| Recurring financial charges | 65 | €12,249 | €14,852 | +€2,603 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €5,801 | €47,420 | +€41,619 | +717.4% |
| Income taxes | 67/77 | €1,480 | €9,731 | +€8,251 | +557.5% |
| Profit (loss) for the period | 9904 | €4,321 | €37,689 | +€33,368 | +772.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,321 | €37,689 | +€33,368 | +772.2% |
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 3 October 2026 via checked.be.