TM Solutions: 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 Solutions
Largest movements
- Receivables within one year +€47,282
up €47,282 (+78.6%), from €60,190 to €107,472
of which Other amounts receivable: +€46,918
- Cash -€11,112
down €11,112 (-44.5%), from €24,957 to €13,845
mainly Receivables within one year (-€47,282) and Debts after one year (-€15,390)
- Tangible fixed assets -€10,998
down €10,998 (-5.5%), from €201,735 to €190,737
of which Land and buildings: -€9,435
- Reserves +€45,292
up €45,292 (+26.5%), from €170,729 to €216,021
of which Distributable reserves: +€45,292
- Debts after one year -€15,390
down €15,390 (-10.9%), from €140,775 to €125,385
- Gross operating margin -€14,535
down €14,535 (-16.6%), from €87,339 to €72,804
- Taxes -€7,640
down €7,640 (-34.6%), from €22,077 to €14,437
- Financial income +€2,390
up €2,390 (+53.9%), from €4,435 to €6,826
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 | €386,396 | €411,914 | +€25,518 | +6.6% |
| Fixed assets | 21/28 | €201,735 | €190,737 | -€10,998 | -5.5% |
| Tangible fixed assets | 22/27 | €201,735 | €190,737 | -€10,998 | -5.5% |
| Land and buildings | 22 | €170,696 | €161,262 | -€9,435 | -5.5% |
| Plant, machinery and equipment | 23 | €555 | €2,438 | +€1,882 | +339% |
| Furniture and vehicles | 24 | €21,984 | €18,538 | -€3,446 | -15.7% |
| Other tangible fixed assets | 26 | €8,500 | €8,500 | = | 0.0% |
| Current assets | 29/58 | €184,661 | €221,177 | +€36,516 | +19.8% |
| Amounts receivable after more than one year | 29 | €98,000 | €98,000 | = | 0.0% |
| Other amounts receivable | 291 | €98,000 | €98,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,190 | €107,472 | +€47,282 | +78.6% |
| Trade receivables | 40 | €17,552 | €17,917 | +€365 | +2.1% |
| Other amounts receivable | 41 | €42,638 | €89,555 | +€46,918 | +110% |
| Cash at bank and in hand | 54/58 | €24,957 | €13,845 | -€11,112 | -44.5% |
| Deferred charges and accrued income | 490/1 | €1,513 | €1,859 | +€346 | +22.9% |
| Total equity and liabilities | 10/49 | €386,396 | €411,914 | +€25,518 | +6.6% |
| Equity | 10/15 | €176,929 | €222,221 | +€45,292 | +25.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €170,729 | €216,021 | +€45,292 | +26.5% |
| Tax-exempt reserves | 132 | €40 | €40 | = | 0.0% |
| Distributable reserves | 133 | €170,689 | €215,981 | +€45,292 | +26.5% |
| Amounts payable | 17/49 | €209,467 | €189,693 | -€19,774 | -9.4% |
| Amounts payable after more than one year | 17 | €140,775 | €125,385 | -€15,390 | -10.9% |
| Financial debts | 170/4 | €140,775 | €125,385 | -€15,390 | -10.9% |
| Amounts payable within one year | 42/48 | €67,842 | €63,458 | -€4,384 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €15,154 | €15,390 | +€236 | +1.6% |
| Trade debts | 44 | €3,197 | €473 | -€2,723 | -85.2% |
| Suppliers | 440/4 | €3,197 | €473 | -€2,723 | -85.2% |
| Taxes, remuneration and social security | 45 | €49,491 | €47,594 | -€1,897 | -3.8% |
| Taxes | 450/3 | €49,491 | €47,594 | -€1,897 | -3.8% |
| Accrued charges and deferred income | 492/3 | €850 | €850 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,252 | €13,462 | +€210 | +1.6% |
| Other operating charges | 640/8 | €1,425 | €1,466 | +€40 | +2.8% |
| Gross operating margin | 9900 | €87,339 | €72,804 | -€14,535 | -16.6% |
| Operating profit (loss) | 9901 | €72,662 | €57,876 | -€14,786 | -20.3% |
| Financial income | 75/76B | €4,435 | €6,826 | +€2,390 | +53.9% |
| Recurring financial income | 75 | €4,435 | €6,826 | +€2,390 | +53.9% |
| Financial charges | 65/66B | €5,712 | €4,972 | -€740 | -12.9% |
| Recurring financial charges | 65 | €5,712 | €4,972 | -€740 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | €71,385 | €59,730 | -€11,656 | -16.3% |
| Income taxes | 67/77 | €22,077 | €14,437 | -€7,640 | -34.6% |
| Profit (loss) for the period | 9904 | €49,308 | €45,292 | -€4,016 | -8.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,308 | €45,292 | -€4,016 | -8.1% |
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 21 October 2026 via checked.be.