TM: what changed
What changed
TM
NACE 68.310, Real estate agency activities
filed annual accounts (NBB)
Net result for the year
€40,727
2024 · €9,731+€30,996
Equity
€5.1m
2024 · €5.1m+€40,727
Cash
€926,093
2024 · €346,818+€579,275
Balance sheet total
€7.3m
2024 · €7.0m+€339,053
Largest movements
Assets
- Current investments -€800,000
down €800,000 (-100%), from €800,000 to €0
- Cash +€579,275
up €579,275 (+167%), from €346,818 to €926,093
mainly Current investments (+€800,000) and Trade debts (+€387,360)
- Financial fixed assets +€497,704
up €497,704 (+13.8%), from €3.6m to €4.1m
- Tangible fixed assets +€319,990
up €319,990 (+17.6%), from €1.8m to €2.1m
of which Assets under construction and advance payments: +€484,660
- Receivables within one year -€237,538
down €237,538 (-61.3%), from €387,402 to €149,864
of which Other amounts receivable: -€295,352
Equity and liabilities
- Trade debts +€387,360
up €387,360 (+21,550%), from €1,798 to €389,157
- Debts after one year -€85,772
down €85,772 (-5.0%), from €1.7m to €1.6m
of which Financial debts: -€90,551
Income statement
- Turnover +€585,489
new in 2025: €585,489
- Gross operating margin -€298,618
no longer reported in 2025 (was €298,618)
- Services and other goods +€284,226
new in 2025: €284,226
- Other operating income +€52,132
new in 2025: €52,132
- Financial income -€19,671
down €19,671 (-61.8%), from €31,850 to €12,179
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€9,731
Turnover
+€585,489
Other operating income
+€52,132
Services and other goods
-€284,226
Depreciation
+€4,241
Other operating charges
-€10,795
Other operating items
-€298,618
Financial income
-€19,671
Financial charges
+€13,447
Taxes
-€10,914
Deferred taxes and other
-€88
Result 2025
€40,727
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€869,871
Investment
-€184,997
Financing
-€105,599
Cash 2024
€346,818
From operations (derived)
+€869,871
Net result for the year
+€40,727
Depreciation
+€167,303
Receivables within one year
+€237,538
Deferred charges and accrued income
+€20,377
Smaller working-capital items
+€609
Trade debts
+€387,360
Tax, wage and social debts
+€6,219
Advances received
+€9,737
Investment (derived)
-€184,997
Investment in fixed assets (net)
-€984,997
Current investments
+€800,000
Financing
-€105,599
Debts after one year
-€85,772
Current portion of long-term debt
-€19,827
Cash 2025
€926,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,002,433 | €7,341,487 | +€339,053 | +4.8% |
| Fixed assets | 21/28 | €5,422,056 | €6,239,750 | +€817,694 | +15.1% |
| Tangible fixed assets | 22/27 | €1,823,293 | €2,143,284 | +€319,990 | +17.6% |
| Land and buildings | 22 | €1,608,613 | €1,489,682 | -€118,930 | -7.4% |
| Plant, machinery and equipment | 23 | €214,346 | €168,747 | -€45,599 | -21.3% |
| Furniture and vehicles | 24 | €334 | €195 | -€140 | -41.8% |
| Assets under construction and advance payments | 27 | - | €484,660 | +€484,660 | |
| Financial fixed assets | 28 | €3,598,762 | €4,096,466 | +€497,704 | +13.8% |
| Companies linked by participating interests | 282/3 | - | €4,096,466 | +€4.1m | |
| Participating interests | 282 | - | €4,096,466 | +€4.1m | |
| Current assets | 29/58 | €1,580,378 | €1,101,737 | -€478,641 | -30.3% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €387,402 | €149,864 | -€237,538 | -61.3% |
| Trade receivables | 40 | €10,538 | €68,352 | +€57,814 | +549% |
| Other amounts receivable | 41 | €376,864 | €81,512 | -€295,352 | -78.4% |
| Current investments | 50/53 | €800,000 | €0 | -€800,000 | -100% |
| Other investments | 51/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €346,818 | €926,093 | +€579,275 | +167% |
| Deferred charges and accrued income | 490/1 | €46,158 | €25,780 | -€20,377 | -44.1% |
| Total equity and liabilities | 10/49 | €7,002,433 | €7,341,487 | +€339,053 | +4.8% |
| Equity | 10/15 | €5,059,792 | €5,100,519 | +€40,727 | +0.8% |
| Contributions | 10/11 | €1,355,115 | €1,355,115 | = | 0.0% |
| Capital | 10 | €1,355,115 | €1,355,115 | = | 0.0% |
| Issued capital | 100 | €1,355,115 | €1,355,115 | = | 0.0% |
| Reserves | 13 | €533,392 | €531,013 | -€2,379 | -0.4% |
| Non-distributable reserves | 130/1 | €135,511 | €135,511 | = | 0.0% |
| Legal reserve | 130 | €135,511 | €135,511 | = | 0.0% |
| Tax-exempt reserves | 132 | €203,651 | €201,272 | -€2,379 | -1.2% |
| Distributable reserves | 133 | €194,229 | €194,229 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,171,285 | €3,214,391 | +€43,106 | +1.4% |
| Provisions and deferred taxes | 16 | €69,858 | €68,633 | -€1,225 | -1.8% |
| Deferred taxes | 168 | €69,858 | €68,633 | -€1,225 | -1.8% |
| Amounts payable | 17/49 | €1,872,784 | €2,172,335 | +€299,551 | +16.0% |
| Amounts payable after more than one year | 17 | €1,725,075 | €1,639,303 | -€85,772 | -5.0% |
| Financial debts | 170/4 | €307,953 | €217,402 | -€90,551 | -29.4% |
| Credit institutions | 173 | - | €217,402 | +€217,402 | |
| Other amounts payable | 178/9 | €1,417,123 | €1,421,901 | +€4,779 | +0.3% |
| Amounts payable within one year | 42/48 | €146,408 | €529,897 | +€383,489 | +262% |
| Current portion of amounts payable after more than one year | 42 | €110,378 | €90,551 | -€19,827 | -18.0% |
| Trade debts | 44 | €1,798 | €389,157 | +€387,360 | +21,550% |
| Suppliers | 440/4 | €1,798 | €389,157 | +€387,360 | +21,550% |
| Advances received on contracts in progress | 46 | - | €9,737 | +€9,737 | |
| Taxes, remuneration and social security | 45 | €34,233 | €40,452 | +€6,219 | +18.2% |
| Taxes | 450/3 | €34,233 | €36,452 | +€2,219 | +6.5% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Accrued charges and deferred income | 492/3 | €1,300 | €3,134 | +€1,834 | +141% |
| Operating income | 70/76A | - | €637,621 | +€637,621 | |
| Turnover | 70 | - | €585,489 | +€585,489 | |
| Other operating income | 74 | - | €52,132 | +€52,132 | |
| Non-recurring operating income | 76A | €15,020 | €0 | -€15,020 | -100% |
| Operating charges | 60/66A | - | €488,169 | +€488,169 | |
| Services and other goods | 61 | - | €284,226 | +€284,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,544 | €167,303 | -€4,241 | -2.5% |
| Other operating charges | 640/8 | €25,844 | €36,640 | +€10,795 | +41.8% |
| Gross operating margin | 9900 | €298,618 | - | -€298,618 | |
| Operating profit (loss) | 9901 | €101,230 | €149,452 | +€48,222 | +47.6% |
| Financial income | 75/76B | €31,850 | €12,179 | -€19,671 | -61.8% |
| Recurring financial income | 75 | €31,850 | €12,179 | -€19,671 | -61.8% |
| Income from current assets | 751 | - | €12,179 | +€12,179 | |
| Financial charges | 65/66B | €116,970 | €103,523 | -€13,447 | -11.5% |
| Recurring financial charges | 65 | €116,970 | €103,523 | -€13,447 | -11.5% |
| Debt charges | 650 | - | €103,191 | +€103,191 | |
| Other financial charges | 652/9 | - | €332 | +€332 | |
| Profit (loss) for the period before taxes | 9903 | €16,110 | €58,108 | +€41,998 | +261% |
| Transfer from deferred taxes | 780 | €1,313 | €1,225 | -€88 | -6.7% |
| Income taxes | 67/77 | €7,691 | €18,605 | +€10,914 | +142% |
| Taxes | 670/3 | - | €18,605 | +€18,605 | |
| Profit (loss) for the period | 9904 | €9,731 | €40,727 | +€30,996 | +319% |
| Transfer from tax-exempt reserves | 789 | €2,549 | €2,379 | -€171 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,281 | €43,106 | +€30,825 | +251% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.