TJM: 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.
TJM
Largest movements
- Deferred charges and accrued income +€6,733
up €6,733 (+434%), from €1,552 to €8,285
- Receivables within one year -€2,526
down €2,526 (-17.6%), from €14,315 to €11,789
of which Other amounts receivable: -€4,642
- Stocks and contracts +€2,495
new in 2025: €2,495
- Debts after one year +€64,157
up €64,157 (+10.4%), from €617,625 to €681,782
of which Other amounts payable: +€106,983
- Profit (loss) carried forward -€38,903
down €38,903 (-5.6%), from -€690,883 to -€729,786
- Trade debts -€15,263
down €15,263 (-87.4%), from €17,458 to €2,195
- Current portion of long-term debt -€13,456
down €13,456 (-17.1%), from €78,504 to €65,048
- Short-term financial debts +€9,928
new in 2025: €9,928
- Gross operating margin +€18,007
up €18,007 (+37.7%), from -€47,804 to -€29,797
- Write-downs -€15,000
down €15,000 (-100%), from €15,000 to €0
- Financial charges -€1,090
down €1,090 (-28.2%), from €3,869 to €2,780
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 | €133,026 | €139,875 | +€6,848 | +5.1% |
| Fixed assets | 21/28 | €116,610 | €117,305 | +€695 | +0.6% |
| Tangible fixed assets | 22/27 | €66,610 | €67,305 | +€695 | +1.0% |
| Furniture and vehicles | 24 | - | €7,798 | +€7,798 | |
| Other tangible fixed assets | 26 | €66,610 | €59,507 | -€7,103 | -10.7% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €16,416 | €22,570 | +€6,154 | +37.5% |
| Stocks and contracts in progress | 3 | - | €2,495 | +€2,495 | |
| Stocks | 30/36 | - | €2,495 | +€2,495 | |
| Amounts receivable within one year | 40/41 | €14,315 | €11,789 | -€2,526 | -17.6% |
| Trade receivables | 40 | €8,425 | €10,541 | +€2,116 | +25.1% |
| Other amounts receivable | 41 | €5,890 | €1,248 | -€4,642 | -78.8% |
| Cash at bank and in hand | 54/58 | €549 | €0 | -€549 | -100% |
| Deferred charges and accrued income | 490/1 | €1,552 | €8,285 | +€6,733 | +434% |
| Total equity and liabilities | 10/49 | €133,026 | €139,875 | +€6,848 | +5.1% |
| Equity | 10/15 | -€580,883 | -€619,786 | -€38,903 | -6.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€690,883 | -€729,786 | -€38,903 | -5.6% |
| Amounts payable | 17/49 | €713,910 | €759,661 | +€45,751 | +6.4% |
| Amounts payable after more than one year | 17 | €617,625 | €681,782 | +€64,157 | +10.4% |
| Financial debts | 170/4 | €78,826 | €36,000 | -€42,826 | -54.3% |
| Other amounts payable | 178/9 | €538,799 | €645,782 | +€106,983 | +19.9% |
| Amounts payable within one year | 42/48 | €96,284 | €77,878 | -€18,406 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €78,504 | €65,048 | -€13,456 | -17.1% |
| Financial debts | 43 | - | €9,928 | +€9,928 | |
| Credit institutions | 430/8 | - | €9,928 | +€9,928 | |
| Trade debts | 44 | €17,458 | €2,195 | -€15,263 | -87.4% |
| Suppliers | 440/4 | €17,458 | €2,195 | -€15,263 | -87.4% |
| Advances received on contracts in progress | 46 | - | €275 | +€275 | |
| Taxes, remuneration and social security | 45 | €322 | €433 | +€111 | +34.4% |
| Taxes | 450/3 | €322 | €433 | +€111 | +34.4% |
| Non-recurring operating income | 76A | - | €1,575 | +€1,575 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,649 | €5,026 | +€377 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,000 | €0 | -€15,000 | -100% |
| Other operating charges | 640/8 | €1,319 | €1,136 | -€183 | -13.9% |
| Gross operating margin | 9900 | -€47,804 | -€29,797 | +€18,007 | +37.7% |
| Operating profit (loss) | 9901 | -€68,772 | -€35,958 | +€32,813 | +47.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €3,869 | €2,780 | -€1,090 | -28.2% |
| Recurring financial charges | 65 | €3,869 | €2,780 | -€1,090 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | -€72,641 | -€38,738 | +€33,903 | +46.7% |
| Income taxes | 67/77 | €168 | €165 | -€3 | -1.7% |
| Profit (loss) for the period | 9904 | -€72,809 | -€38,903 | +€33,906 | +46.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,809 | -€38,903 | +€33,906 | +46.6% |
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 24 October 2026 via checked.be.