TM MC: 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 MC
Largest movements
- Current investments +€80,000
new in 2025: €80,000
- Cash -€16,874
down €16,874 (-29.8%), from €56,719 to €39,845
mainly Current investments (-€80,000) and Investment in fixed assets (net) (-€3,609)
- Tangible fixed assets +€2,710
up €2,710 (+150%), from €1,803 to €4,513
of which Furniture and vehicles: +€3,128
- Reserves +€61,054
up €61,054 (+126%), from €48,488 to €109,542
- Tax, wage and social debts +€6,837
up €6,837 (+34.6%), from €19,782 to €26,619
- Accrued charges and deferred income -€2,512
no longer reported in 2025 (was €2,512)
- Gross operating margin +€13,896
up €13,896 (+20.6%), from €67,561 to €81,457
- Taxes +€3,808
up €3,808 (+28.5%), from €13,355 to €17,164
- Depreciation -€3,372
down €3,372 (-79.0%), from €4,271 to €898
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.
Derived cash bridge
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 | €74,456 | €139,561 | +€65,105 | +87.4% |
| Fixed assets | 21/28 | €1,803 | €4,513 | +€2,710 | +150% |
| Tangible fixed assets | 22/27 | €1,803 | €4,513 | +€2,710 | +150% |
| Plant, machinery and equipment | 23 | €1,803 | €1,385 | -€418 | -23.2% |
| Furniture and vehicles | 24 | - | €3,128 | +€3,128 | |
| Current assets | 29/58 | €72,653 | €135,048 | +€62,395 | +85.9% |
| Amounts receivable within one year | 40/41 | €15,053 | €14,607 | -€446 | -3.0% |
| Trade receivables | 40 | €14,520 | €14,520 | = | 0.0% |
| Other amounts receivable | 41 | €533 | €87 | -€446 | -83.7% |
| Current investments | 50/53 | - | €80,000 | +€80,000 | |
| Cash at bank and in hand | 54/58 | €56,719 | €39,845 | -€16,874 | -29.8% |
| Deferred charges and accrued income | 490/1 | €881 | €597 | -€284 | -32.3% |
| Total equity and liabilities | 10/49 | €74,456 | €139,561 | +€65,105 | +87.4% |
| Equity | 10/15 | €49,988 | €111,042 | +€61,054 | +122% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €48,488 | €109,542 | +€61,054 | +126% |
| Distributable reserves | 133 | €48,488 | €109,542 | +€61,054 | +126% |
| Amounts payable | 17/49 | €24,468 | €28,520 | +€4,051 | +16.6% |
| Amounts payable within one year | 42/48 | €21,956 | €28,520 | +€6,563 | +29.9% |
| Trade debts | 44 | €1,341 | €1,068 | -€274 | -20.4% |
| Suppliers | 440/4 | €1,341 | €1,068 | -€274 | -20.4% |
| Taxes, remuneration and social security | 45 | €19,782 | €26,619 | +€6,837 | +34.6% |
| Taxes | 450/3 | €19,782 | €26,619 | +€6,837 | +34.6% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,512 | - | -€2,512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,271 | €898 | -€3,372 | -79.0% |
| Other operating charges | 640/8 | €480 | €1,253 | +€773 | +161% |
| Gross operating margin | 9900 | €67,561 | €81,457 | +€13,896 | +20.6% |
| Operating profit (loss) | 9901 | €62,810 | €79,306 | +€16,496 | +26.3% |
| Financial income | 75/76B | - | €182 | +€182 | |
| Recurring financial income | 75 | - | €182 | +€182 | |
| Financial charges | 65/66B | €134 | €437 | +€303 | +225% |
| Recurring financial charges | 65 | €134 | €437 | +€303 | +225% |
| Profit (loss) for the period before taxes | 9903 | €62,676 | €79,051 | +€16,375 | +26.1% |
| Income taxes | 67/77 | €13,355 | €17,164 | +€3,808 | +28.5% |
| Profit (loss) for the period | 9904 | €49,321 | €61,887 | +€12,566 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €49,321 | €61,887 | +€12,566 | +25.5% |
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 17 October 2026 via checked.be.