TM2: 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.
TM2
Largest movements
- Tangible fixed assets +€977,359
up €977,359 (+90.6%), from €1.1m to €2.1m
of which Land and buildings: +€2.1m
- Receivables within one year +€288,564
up €288,564 (+2,142%), from €13,472 to €302,035
of which Trade receivables: +€300,000
- Cash +€29,580
up €29,580 (+88.7%), from €33,342 to €62,922
mainly Other debts (+€1.3m) and Net result for the year (+€30,411)
- Other debts +€1.3m
up €1.3m (+122%), from €1.0m to €2.3m
- Profit (loss) carried forward +€30,411
up €30,411 (+166%), from €18,273 to €48,684
- Financial income +€82,797
up €82,797 (+42,558%), from €195 to €82,992
- Gross operating margin -€57,157
down €57,157, from €25,320 to -€31,837
- Staff costs +€13,695
up €13,695 (+212%), from €6,458 to €20,153
- Other operating charges -€775
no longer reported in 2025 (was €775)
- Financial charges +€583
up €583 (+7,141%), from €8 to €591
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 | €1,125,662 | €2,421,164 | +€1.3m | +115% |
| Fixed assets | 21/28 | €1,078,848 | €2,056,207 | +€977,359 | +90.6% |
| Tangible fixed assets | 22/27 | €1,078,398 | €2,055,757 | +€977,359 | +90.6% |
| Land and buildings | 22 | - | €2,055,757 | +€2.1m | |
| Plant, machinery and equipment | 23 | €1,078,398 | - | -€1.1m | |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €46,813 | €364,957 | +€318,144 | +680% |
| Amounts receivable within one year | 40/41 | €13,472 | €302,035 | +€288,564 | +2,142% |
| Trade receivables | 40 | - | €300,000 | +€300,000 | |
| Other amounts receivable | 41 | €13,472 | €2,035 | -€11,436 | -84.9% |
| Cash at bank and in hand | 54/58 | €33,342 | €62,922 | +€29,580 | +88.7% |
| Total equity and liabilities | 10/49 | €1,125,662 | €2,421,164 | +€1.3m | +115% |
| Equity | 10/15 | €79,773 | €110,184 | +€30,411 | +38.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Contributions outside capital | 11 | €61,500 | €61,500 | = | 0.0% |
| Other | 1109/19 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,273 | €48,684 | +€30,411 | +166% |
| Amounts payable | 17/49 | €1,045,888 | €2,310,980 | +€1.3m | +121% |
| Amounts payable within one year | 42/48 | €1,045,888 | €2,310,980 | +€1.3m | +121% |
| Trade debts | 44 | €6,397 | €1,474 | -€4,923 | -77.0% |
| Suppliers | 440/4 | €6,397 | €1,474 | -€4,923 | -77.0% |
| Taxes, remuneration and social security | 45 | €1,777 | €1,305 | -€472 | -26.6% |
| Remuneration and social security | 454/9 | €1,777 | €1,305 | -€472 | -26.6% |
| Other amounts payable | 47/48 | €1,037,713 | €2,308,200 | +€1.3m | +122% |
| Remuneration, social security and pensions | 62 | €6,458 | €20,153 | +€13,695 | +212% |
| Other operating charges | 640/8 | €775 | - | -€775 | |
| Gross operating margin | 9900 | €25,320 | -€31,837 | -€57,157 | |
| Operating profit (loss) | 9901 | €18,087 | -€51,990 | -€70,077 | |
| Financial income | 75/76B | €195 | €82,992 | +€82,797 | +42,558% |
| Recurring financial income | 75 | €195 | €82,992 | +€82,797 | +42,558% |
| Financial charges | 65/66B | €8 | €591 | +€583 | +7,141% |
| Recurring financial charges | 65 | €8 | €591 | +€583 | +7,141% |
| Profit (loss) for the period before taxes | 9903 | €18,273 | €30,411 | +€12,137 | +66.4% |
| Profit (loss) for the period | 9904 | €18,273 | €30,411 | +€12,137 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,273 | €30,411 | +€12,137 | +66.4% |
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 24 October 2026 via checked.be.