TM Global Solutions: 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 Global Solutions
Largest movements
- Receivables within one year -€16,666
down €16,666 (-36.0%), from €46,299 to €29,633
of which Trade receivables: -€12,569
- Cash -€7,658
down €7,658 (-34.0%), from €22,509 to €14,851
mainly Net result for the year (-€17,066) and Tax, wage and social debts (-€11,564)
- Tangible fixed assets -€6,898
down €6,898 (-16.2%), from €42,519 to €35,621
of which Other tangible fixed assets: -€5,631
- Deferred charges and accrued income +€3,976
up €3,976 (+45.3%), from €8,771 to €12,747
- Reserves -€17,066
down €17,066 (-19.6%), from €87,012 to €69,946
of which Distributable reserves: -€17,066
- Tax, wage and social debts -€11,564
down €11,564 (-87.9%), from €13,163 to €1,599
- Trade debts +€1,385
up €1,385 (+104.7%), from €1,323 to €2,708
- Gross operating margin +€10,549
up €10,549 (+70.7%), from -€14,931 to -€4,382
- Other operating charges +€502
up €502 (+425.2%), from €118 to €620
- Depreciation +€373
up €373 (+4.4%), from €8,393 to €8,765
- Financial charges -€304
down €304 (-9.2%), from €3,319 to €3,014
- Taxes +€204
up €204 (+85.2%), from €240 to €444
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 | €120,098 | €92,852 | -€27,246 | -22.7% |
| Fixed assets | 21/28 | €42,519 | €35,621 | -€6,898 | -16.2% |
| Tangible fixed assets | 22/27 | €42,519 | €35,621 | -€6,898 | -16.2% |
| Plant, machinery and equipment | 23 | €2,908 | €1,827 | -€1,081 | -37.2% |
| Furniture and vehicles | 24 | €5,491 | €5,306 | -€185 | -3.4% |
| Other tangible fixed assets | 26 | €34,120 | €28,488 | -€5,631 | -16.5% |
| Current assets | 29/58 | €77,579 | €57,231 | -€20,348 | -26.2% |
| Amounts receivable within one year | 40/41 | €46,299 | €29,633 | -€16,666 | -36.0% |
| Trade receivables | 40 | €28,741 | €16,172 | -€12,569 | -43.7% |
| Other amounts receivable | 41 | €17,558 | €13,461 | -€4,097 | -23.3% |
| Cash at bank and in hand | 54/58 | €22,509 | €14,851 | -€7,658 | -34.0% |
| Deferred charges and accrued income | 490/1 | €8,771 | €12,747 | +€3,976 | +45.3% |
| Total equity and liabilities | 10/49 | €120,098 | €92,852 | -€27,246 | -22.7% |
| Equity | 10/15 | €105,612 | €88,546 | -€17,066 | -16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,012 | €69,946 | -€17,066 | -19.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €85,152 | €68,086 | -€17,066 | -20.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €14,486 | €4,306 | -€10,179 | -70.3% |
| Amounts payable within one year | 42/48 | €14,486 | €4,306 | -€10,179 | -70.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,323 | €2,708 | +€1,385 | +104.7% |
| Suppliers | 440/4 | €1,323 | €2,708 | +€1,385 | +104.7% |
| Taxes, remuneration and social security | 45 | €13,163 | €1,599 | -€11,564 | -87.9% |
| Taxes | 450/3 | €13,163 | €1,599 | -€11,564 | -87.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,393 | €8,765 | +€373 | +4.4% |
| Other operating charges | 640/8 | €118 | €620 | +€502 | +425.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€14,931 | -€4,382 | +€10,549 | +70.7% |
| Operating profit (loss) | 9901 | -€23,442 | -€13,767 | +€9,675 | +41.3% |
| Financial income | 75/76B | €280 | €159 | -€121 | -43.2% |
| Recurring financial income | 75 | €280 | €159 | -€121 | -43.2% |
| Financial charges | 65/66B | €3,319 | €3,014 | -€304 | -9.2% |
| Recurring financial charges | 65 | €3,319 | €3,014 | -€304 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,481 | -€16,623 | +€9,858 | +37.2% |
| Income taxes | 67/77 | €240 | €444 | +€204 | +85.2% |
| Profit (loss) for the period | 9904 | -€26,720 | -€17,066 | +€9,654 | +36.1% |
| Transfer from tax-exempt reserves | 789 | €26,720 | €0 | -€26,720 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €0 | -€17,066 | -€17,066 |
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 8 October 2026 via checked.be.