TM CONSULT: 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 CONSULT
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+4,813%), from €44,223 to €2.2m
of which Land and buildings: +€2.1m
- Cash -€170,131
down €170,131 (-70.0%), from €242,973 to €72,842
mainly Investment in fixed assets (net) (-€2.2m) and Tax, wage and social debts (-€53,407)
- Debts after one year +€1.9m
new in 2025: €1.9m
- Current portion of long-term debt +€72,859
new in 2025: €72,859
- Tax, wage and social debts -€53,407
down €53,407 (-56.1%), from €95,148 to €41,741
of which Taxes: -€47,157
- Depreciation +€60,803
up €60,803 (+479%), from €12,704 to €73,507
- Financial charges +€48,306
up €48,306, from -€128 to €48,179
- Gross operating margin +€48,091
up €48,091 (+53.1%), from €90,545 to €138,636
- Taxes -€18,805
down €18,805 (-85.7%), from €21,945 to €3,140
- Other operating charges +€4,719
up €4,719 (+726%), from €650 to €5,368
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 | €310,648 | €2,273,039 | +€2.0m | +632% |
| Fixed assets | 21/28 | €46,023 | €2,174,480 | +€2.1m | +4,625% |
| Tangible fixed assets | 22/27 | €44,223 | €2,172,680 | +€2.1m | +4,813% |
| Land and buildings | 22 | - | €2,117,413 | +€2.1m | |
| Plant, machinery and equipment | 23 | €3,985 | €8,184 | +€4,199 | +105% |
| Furniture and vehicles | 24 | €40,239 | €47,084 | +€6,845 | +17.0% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €264,625 | €98,559 | -€166,066 | -62.8% |
| Amounts receivable within one year | 40/41 | €19,801 | €20,731 | +€930 | +4.7% |
| Trade receivables | 40 | €19,801 | €18,115 | -€1,685 | -8.5% |
| Other amounts receivable | 41 | - | €2,615 | +€2,615 | |
| Cash at bank and in hand | 54/58 | €242,973 | €72,842 | -€170,131 | -70.0% |
| Deferred charges and accrued income | 490/1 | €1,851 | €4,986 | +€3,135 | +169% |
| Total equity and liabilities | 10/49 | €310,648 | €2,273,039 | +€2.0m | +632% |
| Equity | 10/15 | €208,877 | €217,334 | +€8,457 | +4.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €203,877 | €203,877 | = | 0.0% |
| Distributable reserves | 133 | €203,877 | €203,877 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €8,457 | +€8,457 | |
| Amounts payable | 17/49 | €101,771 | €2,055,705 | +€2.0m | +1,920% |
| Amounts payable after more than one year | 17 | - | €1,891,009 | +€1.9m | |
| Financial debts | 170/4 | - | €1,891,009 | +€1.9m | |
| Amounts payable within one year | 42/48 | €101,765 | €149,231 | +€47,466 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | - | €72,859 | +€72,859 | |
| Trade debts | 44 | €1,641 | €12,773 | +€11,131 | +678% |
| Suppliers | 440/4 | €1,641 | €12,773 | +€11,131 | +678% |
| Taxes, remuneration and social security | 45 | €95,148 | €41,741 | -€53,407 | -56.1% |
| Taxes | 450/3 | €88,898 | €41,741 | -€47,157 | -53.0% |
| Remuneration and social security | 454/9 | €6,250 | - | -€6,250 | |
| Other amounts payable | 47/48 | €4,976 | €21,858 | +€16,882 | +339% |
| Accrued charges and deferred income | 492/3 | €6 | €15,465 | +€15,459 | +254,259% |
| Non-recurring operating income | 76A | - | €10,595 | +€10,595 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,704 | €73,507 | +€60,803 | +479% |
| Other operating charges | 640/8 | €650 | €5,368 | +€4,719 | +726% |
| Gross operating margin | 9900 | €90,545 | €138,636 | +€48,091 | +53.1% |
| Operating profit (loss) | 9901 | €77,191 | €59,760 | -€17,431 | -22.6% |
| Financial income | 75/76B | €3 | €16 | +€13 | +528% |
| Recurring financial income | 75 | €3 | €16 | +€13 | +528% |
| Financial charges | 65/66B | -€128 | €48,179 | +€48,306 | |
| Recurring financial charges | 65 | -€128 | €48,179 | +€48,306 | |
| Profit (loss) for the period before taxes | 9903 | €77,321 | €11,597 | -€65,724 | -85.0% |
| Income taxes | 67/77 | €21,945 | €3,140 | -€18,805 | -85.7% |
| Profit (loss) for the period | 9904 | €55,376 | €8,457 | -€46,919 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €55,376 | €8,457 | -€46,919 | -84.7% |
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 23 October 2026 via checked.be.