TM: 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.
TM
Largest movements
- Receivables within one year -€22,268
down €22,268 (-89.7%), from €24,839 to €2,571
of which Trade receivables: -€21,603
- Tangible fixed assets -€11,189
down €11,189 (-56.2%), from €19,896 to €8,708
- Cash -€3,688
down €3,688 (-29.4%), from €12,532 to €8,844
mainly Trade debts (-€22,105) and Other debts (-€7,495)
- Trade debts -€22,105
down €22,105 (-88.0%), from €25,129 to €3,024
- Other debts -€7,495
down €7,495 (-25.2%), from €29,684 to €22,190
- Profit (loss) carried forward -€6,461
down €6,461, from €212 to -€6,250
- Tax, wage and social debts -€996
down €996 (-79.4%), from €1,255 to €258
of which Remuneration and social security: -€1,048
- Gross operating margin -€5,759
down €5,759 (-49.0%), from €11,762 to €6,003
- Other operating charges -€1,347
down €1,347 (-85.9%), from €1,569 to €222
- Depreciation +€1,141
up €1,141 (+11.4%), from €10,048 to €11,189
- Financial charges +€619
up €619 (+395.6%), from €157 to €776
of which Non-recurring financial charges: +€618
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 | €57,467 | €20,322 | -€37,144 | -64.6% |
| Fixed assets | 21/28 | €20,096 | €8,908 | -€11,189 | -55.7% |
| Tangible fixed assets | 22/27 | €19,896 | €8,708 | -€11,189 | -56.2% |
| Furniture and vehicles | 24 | €19,896 | €8,708 | -€11,189 | -56.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €37,370 | €11,415 | -€25,956 | -69.5% |
| Amounts receivable within one year | 40/41 | €24,839 | €2,571 | -€22,268 | -89.7% |
| Trade receivables | 40 | €24,174 | €2,571 | -€21,603 | -89.4% |
| Other amounts receivable | 41 | €665 | - | -€665 | |
| Cash at bank and in hand | 54/58 | €12,532 | €8,844 | -€3,688 | -29.4% |
| Total equity and liabilities | 10/49 | €57,467 | €20,322 | -€37,144 | -64.6% |
| Equity | 10/15 | €1,312 | -€5,150 | -€6,461 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Share premium | 1100/10 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €212 | -€6,250 | -€6,461 | |
| Provisions and deferred taxes | 16 | €87 | - | -€87 | |
| Provisions for liabilities and charges | 160/5 | €87 | - | -€87 | |
| Other liabilities and charges | 164/5 | €87 | - | -€87 | |
| Amounts payable | 17/49 | €56,068 | €25,472 | -€30,596 | -54.6% |
| Amounts payable within one year | 42/48 | €56,068 | €25,472 | -€30,596 | -54.6% |
| Trade debts | 44 | €25,129 | €3,024 | -€22,105 | -88.0% |
| Suppliers | 440/4 | €25,129 | €3,024 | -€22,105 | -88.0% |
| Taxes, remuneration and social security | 45 | €1,255 | €258 | -€996 | -79.4% |
| Taxes | 450/3 | €207 | €258 | +€51 | +24.8% |
| Remuneration and social security | 454/9 | €1,048 | - | -€1,048 | |
| Other amounts payable | 47/48 | €29,684 | €22,190 | -€7,495 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,048 | €11,189 | +€1,141 | +11.4% |
| Other operating charges | 640/8 | €1,569 | €222 | -€1,347 | -85.9% |
| Gross operating margin | 9900 | €11,762 | €6,003 | -€5,759 | -49.0% |
| Operating profit (loss) | 9901 | €145 | -€5,407 | -€5,552 | |
| Financial charges | 65/66B | €157 | €776 | +€619 | +395.6% |
| Recurring financial charges | 65 | €157 | €158 | +€1 | +0.6% |
| Non-recurring financial charges | 66B | - | €618 | +€618 | |
| Profit (loss) for the period before taxes | 9903 | -€12 | -€6,183 | -€6,171 | -51729.6% |
| Income taxes | 67/77 | €207 | €278 | +€71 | +34.4% |
| Profit (loss) for the period | 9904 | -€219 | -€6,461 | -€6,242 | -2852.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€219 | -€6,461 | -€6,242 | -2852.1% |
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 4 October 2026 via checked.be.