TM RENEW: 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 RENEW
Largest movements
- Receivables within one year +€171,358
up €171,358 (+164.4%), from €104,233 to €275,591
of which Trade receivables: +€170,639
- Cash -€68,177
down €68,177 (-78.8%), from €86,495 to €18,318
mainly Receivables within one year (-€171,358) and Investment in fixed assets (net) (-€15,606)
- Tangible fixed assets +€9,568
up €9,568 (+160.3%), from €5,969 to €15,537
of which Furniture and vehicles: +€10,780
- Trade debts +€54,339
up €54,339 (+39.6%), from €137,113 to €191,452
- Tax, wage and social debts +€23,503
up €23,503 (+499.8%), from €4,703 to €28,206
of which Taxes: +€24,972
- Reserves +€16,880
up €16,880 (+68.9%), from €24,500 to €41,380
of which Distributable reserves: +€16,880
- Profit (loss) carried forward +€16,831
no longer reported in 2024 (was -€16,831)
- Other debts +€5,733
up €5,733 (+20.5%), from €27,940 to €33,672
- Gross operating margin +€120,031
up €120,031 (+119.4%), from €100,509 to €220,540
- Staff costs +€81,258
up €81,258 (+94.8%), from €85,740 to €166,998
- Taxes +€11,326
new in 2024: €11,326
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €198,224 | €313,411 | +€115,187 | +58.1% |
| Fixed assets | 21/28 | €5,969 | €17,337 | +€11,368 | +190.4% |
| Tangible fixed assets | 22/27 | €5,969 | €15,537 | +€9,568 | +160.3% |
| Plant, machinery and equipment | 23 | €2,779 | €1,566 | -€1,213 | -43.6% |
| Furniture and vehicles | 24 | €3,190 | €13,970 | +€10,780 | +337.9% |
| Financial fixed assets | 28 | - | €1,800 | +€1,800 | |
| Current assets | 29/58 | €192,254 | €296,074 | +€103,819 | +54.0% |
| Amounts receivable within one year | 40/41 | €104,233 | €275,591 | +€171,358 | +164.4% |
| Trade receivables | 40 | €103,324 | €273,963 | +€170,639 | +165.1% |
| Other amounts receivable | 41 | €909 | €1,628 | +€719 | +79.1% |
| Cash at bank and in hand | 54/58 | €86,495 | €18,318 | -€68,177 | -78.8% |
| Deferred charges and accrued income | 490/1 | €1,526 | €2,165 | +€638 | +41.8% |
| Total equity and liabilities | 10/49 | €198,224 | €313,411 | +€115,187 | +58.1% |
| Equity | 10/15 | €25,868 | €59,580 | +€33,712 | +130.3% |
| Contributions | 10/11 | €18,200 | €18,200 | = | 0.0% |
| Reserves | 13 | €24,500 | €41,380 | +€16,880 | +68.9% |
| 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 | €22,640 | €39,520 | +€16,880 | +74.6% |
| Profit (loss) carried forward | 14 | -€16,831 | - | +€16,831 | |
| Amounts payable | 17/49 | €172,355 | €253,830 | +€81,475 | +47.3% |
| Amounts payable within one year | 42/48 | €172,355 | €253,830 | +€81,475 | +47.3% |
| Current portion of amounts payable after more than one year | 42 | €2,600 | €500 | -€2,100 | -80.8% |
| Trade debts | 44 | €137,113 | €191,452 | +€54,339 | +39.6% |
| Suppliers | 440/4 | €137,113 | €191,452 | +€54,339 | +39.6% |
| Taxes, remuneration and social security | 45 | €4,703 | €28,206 | +€23,503 | +499.8% |
| Taxes | 450/3 | - | €24,972 | +€24,972 | |
| Remuneration and social security | 454/9 | €4,703 | €3,234 | -€1,469 | -31.2% |
| Other amounts payable | 47/48 | €27,940 | €33,672 | +€5,733 | +20.5% |
| Remuneration, social security and pensions | 62 | €85,740 | €166,998 | +€81,258 | +94.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,609 | €4,238 | +€1,630 | +62.5% |
| Other operating charges | 640/8 | €2,867 | €3,764 | +€897 | +31.3% |
| Gross operating margin | 9900 | €100,509 | €220,540 | +€120,031 | +119.4% |
| Operating profit (loss) | 9901 | €9,294 | €45,540 | +€36,246 | +390.0% |
| Financial income | 75/76B | €302 | €227 | -€75 | -24.8% |
| Recurring financial income | 75 | €302 | €227 | -€75 | -24.8% |
| Financial charges | 65/66B | €2,258 | €729 | -€1,529 | -67.7% |
| Recurring financial charges | 65 | €2,258 | €729 | -€1,529 | -67.7% |
| Profit (loss) for the period before taxes | 9903 | €7,338 | €45,038 | +€37,700 | +513.8% |
| Income taxes | 67/77 | - | €11,326 | +€11,326 | |
| Profit (loss) for the period | 9904 | €7,338 | €33,712 | +€26,374 | +359.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,338 | €33,712 | +€26,374 | +359.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.