TM MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€6,000
down €6,000 (-28.9%), from €20,795 to €14,795
- Receivables within one year +€3,632
up €3,632 (+173.8%), from €2,090 to €5,722
- Other debts +€11,090
up €11,090 (+201.6%), from €5,500 to €16,590
- Profit (loss) carried forward -€6,914
down €6,914 (-83.1%), from -€8,325 to -€15,239
- Debts after one year -€6,163
down €6,163 (-39.1%), from €15,777 to €9,614
- Tax, wage and social debts -€543
down €543 (-58.3%), from €931 to €388
- Gross operating margin -€1,654
down €1,654 (-59.3%), from €2,787 to €1,133
- Financial charges -€681
down €681 (-36.4%), from €1,871 to €1,191
- Taxes -€156
down €156 (-57.3%), from €272 to €116
- Other operating charges +€137
up €137 (+22.6%), from €605 to €741
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,097 | €20,516 | -€2,581 | -11.2% |
| Fixed assets | 21/28 | €20,795 | €14,795 | -€6,000 | -28.9% |
| Tangible fixed assets | 22/27 | €20,795 | €14,795 | -€6,000 | -28.9% |
| Furniture and vehicles | 24 | €20,795 | €14,795 | -€6,000 | -28.9% |
| Current assets | 29/58 | €2,303 | €5,722 | +€3,419 | +148.5% |
| Amounts receivable within one year | 40/41 | €2,090 | €5,722 | +€3,632 | +173.8% |
| Other amounts receivable | 41 | €2,090 | €5,722 | +€3,632 | +173.8% |
| Deferred charges and accrued income | 490/1 | €213 | - | -€213 | |
| Total equity and liabilities | 10/49 | €23,097 | €20,516 | -€2,581 | -11.2% |
| Equity | 10/15 | -€5,825 | -€12,739 | -€6,914 | -118.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,325 | -€15,239 | -€6,914 | -83.1% |
| Amounts payable | 17/49 | €28,922 | €33,255 | +€4,333 | +15.0% |
| Amounts payable after more than one year | 17 | €15,777 | €9,614 | -€6,163 | -39.1% |
| Financial debts | 170/4 | €15,777 | €9,614 | -€6,163 | -39.1% |
| Amounts payable within one year | 42/48 | €13,145 | €23,641 | +€10,496 | +79.8% |
| Current portion of amounts payable after more than one year | 42 | €6,660 | €6,660 | = | 0.0% |
| Financial debts | 43 | €54 | €3 | -€51 | -94.0% |
| Credit institutions | 430/8 | €54 | €3 | -€51 | -94.0% |
| Taxes, remuneration and social security | 45 | €931 | €388 | -€543 | -58.3% |
| Taxes | 450/3 | €931 | €388 | -€543 | -58.3% |
| Other amounts payable | 47/48 | €5,500 | €16,590 | +€11,090 | +201.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,000 | €6,000 | = | 0.0% |
| Other operating charges | 640/8 | €605 | €741 | +€137 | +22.6% |
| Gross operating margin | 9900 | €2,787 | €1,133 | -€1,654 | -59.3% |
| Operating profit (loss) | 9901 | -€3,818 | -€5,608 | -€1,790 | -46.9% |
| Financial income | 75/76B | €0 | €1 | +€1 | +8200.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8200.0% |
| Financial charges | 65/66B | €1,871 | €1,191 | -€681 | -36.4% |
| Recurring financial charges | 65 | €1,871 | €1,191 | -€681 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,689 | -€6,798 | -€1,108 | -19.5% |
| Income taxes | 67/77 | €272 | €116 | -€156 | -57.3% |
| Profit (loss) for the period | 9904 | -€5,961 | -€6,914 | -€953 | -16.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,961 | -€6,914 | -€953 | -16.0% |
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 2 October 2026 via checked.be.