TM Groep: 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 Groep
Largest movements
- Receivables within one year +€135,826
up €135,826 (+166.1%), from €81,787 to €217,614
of which Other amounts receivable: +€135,699
- Cash -€29,403
down €29,403 (-50.5%), from €58,259 to €28,856
mainly Receivables within one year (-€135,826) and Contributions, distributions and other (-€35,000)
- Tangible fixed assets -€14,885
down €14,885 (-5.7%), from €259,523 to €244,638
of which Land and buildings: -€9,000
- Other debts +€97,242
up €97,242 (+54.3%), from €178,960 to €276,202
- Advances received +€20,000
new in 2025: €20,000
- Debts after one year -€18,092
down €18,092 (-9.1%), from €198,529 to €180,437
- Tax, wage and social debts -€12,286
down €12,286 (-73.7%), from €16,662 to €4,376
of which Remuneration and social security: -€13,447
- Gross operating margin -€210,469
down €210,469 (-63.7%), from €330,346 to €119,877
- Staff costs -€72,860
down €72,860 (-58.4%), from €124,774 to €51,914
- Depreciation +€4,890
up €4,890 (+42.4%), from €11,523 to €16,414
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 | €473,170 | €562,208 | +€89,038 | +18.8% |
| Fixed assets | 21/28 | €263,123 | €248,238 | -€14,885 | -5.7% |
| Tangible fixed assets | 22/27 | €259,523 | €244,638 | -€14,885 | -5.7% |
| Land and buildings | 22 | €226,438 | €217,438 | -€9,000 | -4.0% |
| Plant, machinery and equipment | 23 | €3,225 | €2,319 | -€906 | -28.1% |
| Furniture and vehicles | 24 | €29,860 | €24,880 | -€4,979 | -16.7% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €210,047 | €313,970 | +€103,924 | +49.5% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €10,000 | €7,500 | -€2,500 | -25.0% |
| Stocks | 30/36 | €10,000 | €7,500 | -€2,500 | -25.0% |
| Amounts receivable within one year | 40/41 | €81,787 | €217,614 | +€135,826 | +166.1% |
| Trade receivables | 40 | - | €127 | +€127 | |
| Other amounts receivable | 41 | €81,787 | €217,487 | +€135,699 | +165.9% |
| Cash at bank and in hand | 54/58 | €58,259 | €28,856 | -€29,403 | -50.5% |
| Total equity and liabilities | 10/49 | €473,170 | €562,208 | +€89,038 | +18.8% |
| Equity | 10/15 | €47,813 | €49,169 | +€1,356 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,000 | €27,000 | = | 0.0% |
| Distributable reserves | 133 | €27,000 | €27,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,213 | €3,569 | +€1,356 | +61.3% |
| Amounts payable | 17/49 | €425,357 | €513,039 | +€87,682 | +20.6% |
| Amounts payable after more than one year | 17 | €198,529 | €180,437 | -€18,092 | -9.1% |
| Financial debts | 170/4 | €198,529 | €180,437 | -€18,092 | -9.1% |
| Amounts payable within one year | 42/48 | €226,828 | €332,602 | +€105,774 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €17,320 | €18,092 | +€772 | +4.5% |
| Trade debts | 44 | €13,886 | €13,931 | +€46 | +0.3% |
| Suppliers | 440/4 | €13,886 | €13,931 | +€46 | +0.3% |
| Advances received on contracts in progress | 46 | - | €20,000 | +€20,000 | |
| Taxes, remuneration and social security | 45 | €16,662 | €4,376 | -€12,286 | -73.7% |
| Taxes | 450/3 | €1,790 | €2,951 | +€1,161 | +64.9% |
| Remuneration and social security | 454/9 | €14,872 | €1,425 | -€13,447 | -90.4% |
| Other amounts payable | 47/48 | €178,960 | €276,202 | +€97,242 | +54.3% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €124,774 | €51,914 | -€72,860 | -58.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,523 | €16,414 | +€4,890 | +42.4% |
| Other operating charges | 640/8 | €6,454 | €7,721 | +€1,266 | +19.6% |
| Gross operating margin | 9900 | €330,346 | €119,877 | -€210,469 | -63.7% |
| Operating profit (loss) | 9901 | €187,594 | €43,829 | -€143,766 | -76.6% |
| Financial income | 75/76B | €4,108 | €5,630 | +€1,521 | +37.0% |
| Recurring financial income | 75 | €4,108 | €5,630 | +€1,521 | +37.0% |
| Financial charges | 65/66B | €13,534 | €11,999 | -€1,535 | -11.3% |
| Recurring financial charges | 65 | €13,534 | €11,999 | -€1,535 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €178,169 | €37,460 | -€140,709 | -79.0% |
| Income taxes | 67/77 | €1,414 | €1,104 | -€311 | -22.0% |
| Profit (loss) for the period | 9904 | €176,755 | €36,356 | -€140,399 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €176,755 | €36,356 | -€140,399 | -79.4% |
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 10 October 2026 via checked.be.