TM Finance: 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 Finance
Largest movements
- Current investments +€67,599
up €67,599 (+498%), from €13,574 to €81,173
- Cash -€37,164
down €37,164 (-15.2%), from €244,245 to €207,081
mainly Contributions, distributions and other (-€172,513) and Current investments (-€67,599)
- Receivables within one year +€10,040
up €10,040 (+114%), from €8,821 to €18,862
of which Other amounts receivable: +€8,940
- Other debts +€62,916
up €62,916 (+158%), from €39,909 to €102,825
- Tax, wage and social debts -€27,790
no longer reported in 2025 (was €27,790)
- Short-term financial debts +€9,394
up €9,394 (+66,341%), from €14 to €9,408
of which Other loans: +€9,368
- Gross operating margin -€8,570
down €8,570 (-4.0%), from €214,714 to €206,144
- Financial income -€7,567
down €7,567 (-24.1%), from €31,369 to €23,802
of which Non-recurring financial income: -€27,515
- Taxes -€2,351
down €2,351 (-4.8%), from €48,717 to €46,365
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 | €375,738 | €416,856 | +€41,119 | +10.9% |
| Fixed assets | 21/28 | €34,507 | €35,086 | +€579 | +1.7% |
| Tangible fixed assets | 22/27 | €9,195 | €9,774 | +€579 | +6.3% |
| Plant, machinery and equipment | 23 | €368 | €568 | +€200 | +54.3% |
| Furniture and vehicles | 24 | €3,107 | €4,927 | +€1,820 | +58.6% |
| Other tangible fixed assets | 26 | €5,720 | €4,280 | -€1,440 | -25.2% |
| Financial fixed assets | 28 | €25,313 | €25,313 | = | 0.0% |
| Current assets | 29/58 | €341,230 | €381,770 | +€40,540 | +11.9% |
| Amounts receivable after more than one year | 29 | €70,000 | €70,000 | = | 0.0% |
| Other amounts receivable | 291 | €70,000 | €70,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,821 | €18,862 | +€10,040 | +114% |
| Trade receivables | 40 | - | €1,100 | +€1,100 | |
| Other amounts receivable | 41 | €8,821 | €17,762 | +€8,940 | +101% |
| Current investments | 50/53 | €13,574 | €81,173 | +€67,599 | +498% |
| Cash at bank and in hand | 54/58 | €244,245 | €207,081 | -€37,164 | -15.2% |
| Deferred charges and accrued income | 490/1 | €4,590 | €4,655 | +€65 | +1.4% |
| Total equity and liabilities | 10/49 | €375,738 | €416,856 | +€41,119 | +10.9% |
| Equity | 10/15 | €301,114 | €301,114 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €282,514 | €282,514 | = | 0.0% |
| Distributable reserves | 133 | €282,514 | €282,514 | = | 0.0% |
| Amounts payable | 17/49 | €74,624 | €115,743 | +€41,119 | +55.1% |
| Amounts payable within one year | 42/48 | €74,624 | €115,743 | +€41,119 | +55.1% |
| Financial debts | 43 | €14 | €9,408 | +€9,394 | +66,341% |
| Credit institutions | 430/8 | €14 | €41 | +€26 | +186% |
| Other loans | 439 | - | €9,368 | +€9,368 | |
| Trade debts | 44 | €6,911 | €3,510 | -€3,401 | -49.2% |
| Suppliers | 440/4 | €6,911 | €3,510 | -€3,401 | -49.2% |
| Taxes, remuneration and social security | 45 | €27,790 | - | -€27,790 | |
| Taxes | 450/3 | €27,790 | - | -€27,790 | |
| Other amounts payable | 47/48 | €39,909 | €102,825 | +€62,916 | +158% |
| Non-recurring operating income | 76A | €1,332 | - | -€1,332 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,944 | €3,502 | -€441 | -11.2% |
| Other operating charges | 640/8 | €405 | €470 | +€65 | +15.9% |
| Gross operating margin | 9900 | €214,714 | €206,144 | -€8,570 | -4.0% |
| Operating profit (loss) | 9901 | €210,365 | €202,172 | -€8,193 | -3.9% |
| Financial income | 75/76B | €31,369 | €23,802 | -€7,567 | -24.1% |
| Recurring financial income | 75 | €3,855 | €23,802 | +€19,947 | +517% |
| Non-recurring financial income | 76B | €27,515 | - | -€27,515 | |
| Financial charges | 65/66B | €7,753 | €7,096 | -€657 | -8.5% |
| Recurring financial charges | 65 | €7,753 | €7,096 | -€657 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €233,981 | €218,878 | -€15,103 | -6.5% |
| Income taxes | 67/77 | €48,717 | €46,365 | -€2,351 | -4.8% |
| Profit (loss) for the period | 9904 | €185,265 | €172,513 | -€12,752 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €185,265 | €172,513 | -€12,752 | -6.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.