TM BUSINESS: 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.
TM BUSINESS
Largest movements
- Tangible fixed assets +€17,163
new in 2025: €17,163
- Receivables within one year +€2,545
up €2,545 (+19.2%), from €13,278 to €15,823
of which Trade receivables: +€1,589
- Cash -€638
down €638 (-3.7%), from €17,188 to €16,549
mainly Investment in fixed assets (net) (-€22,066) and Receivables within one year (-€2,545)
- Deferred charges and accrued income -€638
no longer reported in 2025 (was €638)
- Profit (loss) carried forward +€12,232
up €12,232 (+69.9%), from €17,509 to €29,740
- Trade debts +€5,116
up €5,116 (+1,372%), from €373 to €5,489
- Tax, wage and social debts +€1,107
up €1,107 (+55.4%), from €1,998 to €3,105
of which Taxes: +€1,107
- Staff costs -€5,949
down €5,949 (-87.5%), from €6,801 to €852
- Gross operating margin +€4,975
up €4,975 (+30.5%), from €16,315 to €21,290
- Taxes -€4,327
down €4,327 (-89.3%), from €4,847 to €520
- Depreciation -€990
down €990 (-16.8%), from €5,893 to €4,904
- Other operating charges +€358
up €358 (+21.9%), from €1,632 to €1,990
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 | €31,104 | €49,535 | +€18,430 | +59.3% |
| Fixed assets | 21/28 | - | €17,163 | +€17,163 | |
| Tangible fixed assets | 22/27 | - | €17,163 | +€17,163 | |
| Furniture and vehicles | 24 | - | €17,163 | +€17,163 | |
| Current assets | 29/58 | €31,104 | €32,372 | +€1,268 | +4.1% |
| Amounts receivable within one year | 40/41 | €13,278 | €15,823 | +€2,545 | +19.2% |
| Trade receivables | 40 | - | €1,589 | +€1,589 | |
| Other amounts receivable | 41 | €13,278 | €14,234 | +€956 | +7.2% |
| Cash at bank and in hand | 54/58 | €17,188 | €16,549 | -€638 | -3.7% |
| Deferred charges and accrued income | 490/1 | €638 | - | -€638 | |
| Total equity and liabilities | 10/49 | €31,104 | €49,535 | +€18,430 | +59.3% |
| Equity | 10/15 | €28,709 | €40,940 | +€12,232 | +42.6% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,509 | €29,740 | +€12,232 | +69.9% |
| Amounts payable | 17/49 | €2,396 | €8,594 | +€6,199 | +259% |
| Amounts payable within one year | 42/48 | €2,396 | €8,594 | +€6,199 | +259% |
| Trade debts | 44 | €373 | €5,489 | +€5,116 | +1,372% |
| Suppliers | 440/4 | €373 | €5,489 | +€5,116 | +1,372% |
| Taxes, remuneration and social security | 45 | €1,998 | €3,105 | +€1,107 | +55.4% |
| Taxes | 450/3 | €1,565 | €2,673 | +€1,107 | +70.7% |
| Remuneration and social security | 454/9 | €433 | €433 | = | 0.0% |
| Other amounts payable | 47/48 | €25 | - | -€25 | |
| Remuneration, social security and pensions | 62 | €6,801 | €852 | -€5,949 | -87.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,893 | €4,904 | -€990 | -16.8% |
| Other operating charges | 640/8 | €1,632 | €1,990 | +€358 | +21.9% |
| Non-recurring operating charges | 66A | - | €638 | +€638 | |
| Gross operating margin | 9900 | €16,315 | €21,290 | +€4,975 | +30.5% |
| Operating profit (loss) | 9901 | €1,989 | €12,905 | +€10,916 | +549% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €153 | €153 | -€0 | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,836 | €12,752 | +€10,916 | +595% |
| Income taxes | 67/77 | €4,847 | €520 | -€4,327 | -89.3% |
| Profit (loss) for the period | 9904 | -€3,011 | €12,232 | +€15,243 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,011 | €12,232 | +€15,243 |
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 29 October 2026 via checked.be.