TM CASH: 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 CASH
Largest movements
- Cash +€488,930
up €488,930 (+45.0%), from €1.1m to €1.6m
mainly Other debts (+€630,000) and Net result for the year (+€590,660)
- Stocks and contracts +€281,460
up €281,460 (+211%), from €133,192 to €414,651
- Deferred charges and accrued income -€151,985
down €151,985 (-96.5%), from €157,438 to €5,453
- Receivables within one year -€109,432
down €109,432 (-14.1%), from €774,130 to €664,698
- Other debts +€630,000
up €630,000 (+900%), from €70,000 to €700,000
- Reserves -€409,340
down €409,340 (-24.5%), from €1.7m to €1.3m
of which Tax-exempt reserves: -€833,904
- Tax, wage and social debts +€384,508
up €384,508 (+1,012%), from €38,013 to €422,521
of which Taxes: +€369,693
- Trade debts -€163,595
down €163,595 (-43.4%), from €377,092 to €213,498
- Short-term financial debts +€58,496
up €58,496 (+141%), from €41,504 to €100,000
- Gross operating margin +€882,656
up €882,656 (+622%), from €141,905 to €1.0m
- Taxes +€282,348
up €282,348, from -€86,841 to €195,507
- Staff costs +€60,743
up €60,743 (+43.9%), from €138,384 to €199,127
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 | €2,265,625 | €2,754,832 | +€489,207 | +21.6% |
| Fixed assets | 21/28 | €115,054 | €95,288 | -€19,766 | -17.2% |
| Tangible fixed assets | 22/27 | €100,821 | €81,056 | -€19,766 | -19.6% |
| Plant, machinery and equipment | 23 | €41,725 | €36,863 | -€4,862 | -11.7% |
| Furniture and vehicles | 24 | €59,030 | €44,192 | -€14,838 | -25.1% |
| Other tangible fixed assets | 26 | €66 | - | -€66 | |
| Financial fixed assets | 28 | €14,233 | €14,233 | = | 0.0% |
| Current assets | 29/58 | €2,150,571 | €2,659,544 | +€508,973 | +23.7% |
| Stocks and contracts in progress | 3 | €133,192 | €414,651 | +€281,460 | +211% |
| Stocks | 30/36 | €133,192 | €414,651 | +€281,460 | +211% |
| Amounts receivable within one year | 40/41 | €774,130 | €664,698 | -€109,432 | -14.1% |
| Other amounts receivable | 41 | €774,130 | €664,698 | -€109,432 | -14.1% |
| Cash at bank and in hand | 54/58 | €1,085,812 | €1,574,741 | +€488,930 | +45.0% |
| Deferred charges and accrued income | 490/1 | €157,438 | €5,453 | -€151,985 | -96.5% |
| Total equity and liabilities | 10/49 | €2,265,625 | €2,754,832 | +€489,207 | +21.6% |
| Equity | 10/15 | €1,689,156 | €1,279,817 | -€409,340 | -24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,670,556 | €1,261,217 | -€409,340 | -24.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €833,904 | - | -€833,904 | |
| Distributable reserves | 133 | €834,793 | €1,259,357 | +€424,564 | +50.9% |
| Amounts payable | 17/49 | €576,469 | €1,475,016 | +€898,547 | +156% |
| Amounts payable after more than one year | 17 | €38,376 | €26,433 | -€11,943 | -31.1% |
| Financial debts | 170/4 | €38,376 | €26,433 | -€11,943 | -31.1% |
| Amounts payable within one year | 42/48 | €538,094 | €1,447,961 | +€909,868 | +169% |
| Current portion of amounts payable after more than one year | 42 | €11,484 | €11,943 | +€458 | +4.0% |
| Financial debts | 43 | €41,504 | €100,000 | +€58,496 | +141% |
| Credit institutions | 430/8 | €41,504 | €100,000 | +€58,496 | +141% |
| Trade debts | 44 | €377,092 | €213,498 | -€163,595 | -43.4% |
| Suppliers | 440/4 | €377,092 | €213,498 | -€163,595 | -43.4% |
| Taxes, remuneration and social security | 45 | €38,013 | €422,521 | +€384,508 | +1,012% |
| Taxes | 450/3 | €30,000 | €399,693 | +€369,693 | +1,232% |
| Remuneration and social security | 454/9 | €8,013 | €22,828 | +€14,815 | +185% |
| Other amounts payable | 47/48 | €70,000 | €700,000 | +€630,000 | +900% |
| Accrued charges and deferred income | 492/3 | - | €622 | +€622 | |
| Non-recurring operating income | 76A | €16,446 | - | -€16,446 | |
| Remuneration, social security and pensions | 62 | €138,384 | €199,127 | +€60,743 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,830 | €20,374 | +€1,543 | +8.2% |
| Other operating charges | 640/8 | €12,586 | €11,112 | -€1,473 | -11.7% |
| Non-recurring operating charges | 66A | €5 | - | -€5 | |
| Gross operating margin | 9900 | €141,905 | €1,024,561 | +€882,656 | +622% |
| Operating profit (loss) | 9901 | -€27,900 | €793,948 | +€821,848 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -83.3% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -83.3% |
| Financial charges | 65/66B | €7,119 | €7,781 | +€662 | +9.3% |
| Recurring financial charges | 65 | €7,119 | €7,781 | +€662 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,019 | €786,167 | +€821,185 | |
| Income taxes | 67/77 | -€86,841 | €195,507 | +€282,348 | |
| Profit (loss) for the period | 9904 | €51,823 | €590,660 | +€538,837 | +1,040% |
| Profit (loss) for the period to be appropriated | 9905 | €51,823 | €590,660 | +€538,837 | +1,040% |
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 27 October 2026 via checked.be.