TJMD: 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.
TJMD
Largest movements
- Cash +€58,177
up €58,177 (+224%), from €25,924 to €84,101
mainly Debts after one year (+€434,111) and Current portion of long-term debt (+€98,418)
- Tangible fixed assets -€19,370
down €19,370 (-24.4%), from €79,238 to €59,868
- Receivables within one year -€17,781
down €17,781 (-15.2%), from €116,601 to €98,820
of which Other amounts receivable: -€17,781
- Short-term financial debts -€558,000
no longer reported in 2025 (was €558,000)
- Debts after one year +€434,111
up €434,111 (+328%), from €132,266 to €566,377
- Current portion of long-term debt +€98,418
up €98,418 (+145%), from €67,718 to €166,135
- Reserves +€53,649
up €53,649 (+8.1%), from €659,408 to €713,057
- Gross operating margin +€30,973
up €30,973 (+32.0%), from €96,641 to €127,614
- Financial charges -€22,499
down €22,499 (-48.0%), from €46,904 to €24,405
- Taxes +€18,926
up €18,926 (+197%), from €9,626 to €28,551
- Depreciation +€4,492
up €4,492 (+30.2%), from €14,878 to €19,370
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 | €1,475,680 | €1,494,627 | +€18,947 | +1.3% |
| Fixed assets | 21/28 | €1,329,238 | €1,309,868 | -€19,370 | -1.5% |
| Tangible fixed assets | 22/27 | €79,238 | €59,868 | -€19,370 | -24.4% |
| Furniture and vehicles | 24 | €79,238 | €59,868 | -€19,370 | -24.4% |
| Financial fixed assets | 28 | €1,250,000 | €1,250,000 | = | 0.0% |
| Current assets | 29/58 | €146,441 | €184,759 | +€38,317 | +26.2% |
| Amounts receivable within one year | 40/41 | €116,601 | €98,820 | -€17,781 | -15.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €116,601 | €98,820 | -€17,781 | -15.2% |
| Cash at bank and in hand | 54/58 | €25,924 | €84,101 | +€58,177 | +224% |
| Deferred charges and accrued income | 490/1 | €3,916 | €1,837 | -€2,079 | -53.1% |
| Total equity and liabilities | 10/49 | €1,475,680 | €1,494,627 | +€18,947 | +1.3% |
| Equity | 10/15 | €678,008 | €731,657 | +€53,649 | +7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €659,408 | €713,057 | +€53,649 | +8.1% |
| Distributable reserves | 133 | €659,408 | €713,057 | +€53,649 | +8.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €797,672 | €762,970 | -€34,702 | -4.4% |
| Amounts payable after more than one year | 17 | €132,266 | €566,377 | +€434,111 | +328% |
| Financial debts | 170/4 | €132,266 | €566,377 | +€434,111 | +328% |
| Amounts payable within one year | 42/48 | €663,218 | €196,594 | -€466,624 | -70.4% |
| Current portion of amounts payable after more than one year | 42 | €67,718 | €166,135 | +€98,418 | +145% |
| Financial debts | 43 | €558,000 | - | -€558,000 | |
| Credit institutions | 430/8 | €558,000 | - | -€558,000 | |
| Trade debts | 44 | €5,449 | €1,171 | -€4,278 | -78.5% |
| Suppliers | 440/4 | €5,449 | €1,171 | -€4,278 | -78.5% |
| Taxes, remuneration and social security | 45 | €16,548 | €6,567 | -€9,981 | -60.3% |
| Taxes | 450/3 | €16,548 | €6,567 | -€9,981 | -60.3% |
| Other amounts payable | 47/48 | €15,504 | €22,721 | +€7,217 | +46.5% |
| Accrued charges and deferred income | 492/3 | €2,188 | - | -€2,188 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,878 | €19,370 | +€4,492 | +30.2% |
| Other operating charges | 640/8 | €1,513 | €1,688 | +€175 | +11.6% |
| Gross operating margin | 9900 | €96,641 | €127,614 | +€30,973 | +32.0% |
| Operating profit (loss) | 9901 | €80,250 | €106,555 | +€26,306 | +32.8% |
| Financial income | 75/76B | €203 | €50 | -€153 | -75.3% |
| Recurring financial income | 75 | €203 | €50 | -€153 | -75.3% |
| Financial charges | 65/66B | €46,904 | €24,405 | -€22,499 | -48.0% |
| Recurring financial charges | 65 | €46,904 | €24,405 | -€22,499 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €33,549 | €82,200 | +€48,651 | +145% |
| Income taxes | 67/77 | €9,626 | €28,551 | +€18,926 | +197% |
| Profit (loss) for the period | 9904 | €23,923 | €53,649 | +€29,726 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €23,923 | €53,649 | +€29,726 | +124% |
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 15 October 2026 via checked.be.