TM GAZ: 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 GAZ
Largest movements
- Cash +€205,249
up €205,249 (+302.7%), from €67,797 to €273,047
mainly Debts after one year (+€114,312) and Depreciation (+€45,555)
- Tangible fixed assets -€52,652
down €52,652 (-10.3%), from €512,741 to €460,089
of which Furniture and vehicles: -€29,432
- Stocks and contracts -€10,175
down €10,175 (-84.8%), from €12,000 to €1,825
- Debts after one year +€114,312
up €114,312 (+25.1%), from €456,267 to €570,579
- Other debts +€20,000
new in 2025: €20,000
- Trade debts +€8,760
up €8,760 (+15.0%), from €58,304 to €67,065
- Turnover -€84,962
down €84,962 (-13.9%), from €609,568 to €524,607
- Purchases and services -€71,948
down €71,948 (-14.8%), from €484,604 to €412,656
- Staff costs +€29,471
up €29,471 (+60.5%), from €48,717 to €78,189
- Gross operating margin +€25,003
up €25,003 (+20.0%), from €124,965 to €149,968
- Depreciation -€9,196
down €9,196 (-16.8%), from €54,751 to €45,555
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 | €599,746 | €742,922 | +€143,176 | +23.9% |
| Fixed assets | 21/28 | €514,791 | €462,139 | -€52,652 | -10.2% |
| Tangible fixed assets | 22/27 | €512,741 | €460,089 | -€52,652 | -10.3% |
| Land and buildings | 22 | €418,293 | €401,364 | -€16,929 | -4.0% |
| Plant, machinery and equipment | 23 | €18,401 | €12,110 | -€6,291 | -34.2% |
| Furniture and vehicles | 24 | €76,046 | €46,615 | -€29,432 | -38.7% |
| Financial fixed assets | 28 | €2,050 | €2,050 | = | 0.0% |
| Current assets | 29/58 | €84,955 | €280,783 | +€195,828 | +230.5% |
| Stocks and contracts in progress | 3 | €12,000 | €1,825 | -€10,175 | -84.8% |
| Stocks | 30/36 | €12,000 | €1,825 | -€10,175 | -84.8% |
| Amounts receivable within one year | 40/41 | €5,158 | €5,912 | +€754 | +14.6% |
| Trade receivables | 40 | €4,950 | €5,704 | +€754 | +15.2% |
| Other amounts receivable | 41 | €208 | €208 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,797 | €273,047 | +€205,249 | +302.7% |
| Total equity and liabilities | 10/49 | €599,746 | €742,922 | +€143,176 | +23.9% |
| Equity | 10/15 | €36,415 | €40,466 | +€4,050 | +11.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,964 | €20,015 | +€4,050 | +25.4% |
| Amounts payable | 17/49 | €563,331 | €702,456 | +€139,126 | +24.7% |
| Amounts payable after more than one year | 17 | €456,267 | €570,579 | +€114,312 | +25.1% |
| Financial debts | 170/4 | €456,267 | €570,579 | +€114,312 | +25.1% |
| Amounts payable within one year | 42/48 | €106,254 | €129,438 | +€23,184 | +21.8% |
| Financial debts | 43 | €14,160 | €13,290 | -€870 | -6.1% |
| Credit institutions | 430/8 | €14,160 | €13,290 | -€870 | -6.1% |
| Trade debts | 44 | €58,304 | €67,065 | +€8,760 | +15.0% |
| Suppliers | 440/4 | €58,304 | €67,065 | +€8,760 | +15.0% |
| Taxes, remuneration and social security | 45 | €33,790 | €29,083 | -€4,707 | -13.9% |
| Taxes | 450/3 | €27,341 | €20,574 | -€6,766 | -24.7% |
| Remuneration and social security | 454/9 | €6,449 | €8,509 | +€2,060 | +31.9% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €810 | €2,439 | +€1,629 | +201.2% |
| Turnover | 70 | €609,568 | €524,607 | -€84,962 | -13.9% |
| Non-recurring operating income | 76A | - | €38,017 | +€38,017 | |
| Goods, raw materials, services and sundry goods | 60/61 | €484,604 | €412,656 | -€71,948 | -14.8% |
| Remuneration, social security and pensions | 62 | €48,717 | €78,189 | +€29,471 | +60.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,751 | €45,555 | -€9,196 | -16.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €675 | +€675 | |
| Other operating charges | 640/8 | €6,063 | €4,706 | -€1,357 | -22.4% |
| Gross operating margin | 9900 | €124,965 | €149,968 | +€25,003 | +20.0% |
| Operating profit (loss) | 9901 | €15,434 | €20,843 | +€5,410 | +35.1% |
| Financial income | 75/76B | €999 | €546 | -€453 | -45.3% |
| Recurring financial income | 75 | €999 | €546 | -€453 | -45.3% |
| Financial charges | 65/66B | €22,441 | €17,176 | -€5,264 | -23.5% |
| Recurring financial charges | 65 | €22,441 | €17,176 | -€5,264 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,008 | €4,213 | +€10,221 | |
| Income taxes | 67/77 | €300 | €162 | -€137 | -45.9% |
| Profit (loss) for the period | 9904 | -€6,308 | €4,050 | +€10,358 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,308 | €4,050 | +€10,358 |
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 1 October 2026 via checked.be.