TM INDUSTRY: 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 INDUSTRY
Largest movements
- Receivables within one year -€48,908
down €48,908 (-40.3%), from €121,487 to €72,579
of which Trade receivables: -€48,908
- Tangible fixed assets -€7,256
down €7,256 (-25.1%), from €28,891 to €21,635
of which Leasing and similar rights: -€6,534
- Profit (loss) carried forward -€65,785
down €65,785, from €38,249 to -€27,536
- Short-term financial debts +€28,006
up €28,006 (+195.0%), from €14,362 to €42,368
- Trade debts -€8,787
down €8,787 (-16.3%), from €53,809 to €45,022
- Debts after one year -€5,748
down €5,748 (-28.9%), from €19,886 to €14,138
- Tax, wage and social debts -€4,351
down €4,351 (-8.2%), from €52,995 to €48,645
of which Taxes: -€8,517
- Gross operating margin -€78,876
down €78,876 (-37.4%), from €210,999 to €132,123
- Staff costs -€11,166
down €11,166 (-6.1%), from €181,747 to €170,581
- Other operating charges +€4,011
up €4,011 (+91.8%), from €4,367 to €8,378
- Taxes -€2,263
down €2,263 (-100.0%), from €2,263 to €0
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 | €277,967 | €225,021 | -€52,947 | -19.0% |
| Fixed assets | 21/28 | €35,891 | €28,635 | -€7,256 | -20.2% |
| Tangible fixed assets | 22/27 | €28,891 | €21,635 | -€7,256 | -25.1% |
| Furniture and vehicles | 24 | €1,484 | €762 | -€722 | -48.6% |
| Leasing and similar rights | 25 | €27,407 | €20,873 | -€6,534 | -23.8% |
| Financial fixed assets | 28 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €242,077 | €196,386 | -€45,691 | -18.9% |
| Stocks and contracts in progress | 3 | €108,207 | €109,511 | +€1,304 | +1.2% |
| Stocks | 30/36 | €108,207 | €109,511 | +€1,304 | +1.2% |
| Amounts receivable within one year | 40/41 | €121,487 | €72,579 | -€48,908 | -40.3% |
| Trade receivables | 40 | €120,750 | €71,842 | -€48,908 | -40.5% |
| Other amounts receivable | 41 | €737 | €737 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,973 | €11,944 | +€1,970 | +19.8% |
| Deferred charges and accrued income | 490/1 | €2,409 | €2,351 | -€57 | -2.4% |
| Total equity and liabilities | 10/49 | €277,967 | €225,021 | -€52,947 | -19.0% |
| Equity | 10/15 | €127,282 | €61,497 | -€65,785 | -51.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €70,441 | €70,441 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €68,582 | €68,582 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,249 | -€27,536 | -€65,785 | |
| Amounts payable | 17/49 | €150,686 | €163,524 | +€12,839 | +8.5% |
| Amounts payable after more than one year | 17 | €19,886 | €14,138 | -€5,748 | -28.9% |
| Financial debts | 170/4 | €19,886 | €14,138 | -€5,748 | -28.9% |
| Amounts payable within one year | 42/48 | €130,799 | €145,919 | +€15,119 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €5,497 | €5,748 | +€251 | +4.6% |
| Financial debts | 43 | €14,362 | €42,368 | +€28,006 | +195.0% |
| Credit institutions | 430/8 | €14,362 | €42,368 | +€28,006 | +195.0% |
| Trade debts | 44 | €53,809 | €45,022 | -€8,787 | -16.3% |
| Suppliers | 440/4 | €53,809 | €45,022 | -€8,787 | -16.3% |
| Taxes, remuneration and social security | 45 | €52,995 | €48,645 | -€4,351 | -8.2% |
| Taxes | 450/3 | €22,662 | €14,144 | -€8,517 | -37.6% |
| Remuneration and social security | 454/9 | €30,334 | €34,500 | +€4,166 | +13.7% |
| Other amounts payable | 47/48 | €4,136 | €4,136 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,467 | +€3,467 | |
| Remuneration, social security and pensions | 62 | €181,747 | €170,581 | -€11,166 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,018 | €7,256 | +€1,238 | +20.6% |
| Other operating charges | 640/8 | €4,367 | €8,378 | +€4,011 | +91.8% |
| Gross operating margin | 9900 | €210,999 | €132,123 | -€78,876 | -37.4% |
| Operating profit (loss) | 9901 | €18,867 | -€54,091 | -€72,959 | |
| Financial income | 75/76B | €809 | €31 | -€778 | -96.2% |
| Recurring financial income | 75 | €9 | €31 | +€22 | +238.1% |
| Non-recurring financial income | 76B | €800 | €0 | -€800 | -100.0% |
| Financial charges | 65/66B | €12,619 | €11,724 | -€895 | -7.1% |
| Recurring financial charges | 65 | €12,619 | €11,724 | -€895 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €7,057 | -€65,785 | -€72,842 | |
| Income taxes | 67/77 | €2,263 | €0 | -€2,263 | -100.0% |
| Profit (loss) for the period | 9904 | €4,794 | -€65,785 | -€70,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,794 | -€65,785 | -€70,579 |
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 6 October 2026 via checked.be.