TMBRUSSELS: 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.
TMBRUSSELS
Largest movements
- Receivables within one year -€53,113
down €53,113 (-44.4%), from €119,640 to €66,527
of which Trade receivables: -€57,937
- Cash -€34,405
down €34,405 (-65.2%), from €52,764 to €18,359
mainly Trade debts (-€37,772) and Net result for the year (-€33,147)
- Trade debts -€37,772
down €37,772 (-96.7%), from €39,053 to €1,281
- Profit (loss) carried forward -€33,147
down €33,147 (-25.6%), from €129,375 to €96,228
- Tax, wage and social debts -€16,749
down €16,749 (-84.7%), from €19,785 to €3,036
of which Taxes: -€13,649
- Gross operating margin -€60,352
down €60,352, from €39,126 to -€21,226
- Taxes -€8,867
down €8,867 (-90.2%), from €9,826 to €959
- Depreciation +€1,227
up €1,227 (+14.8%), from €8,313 to €9,540
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 | €192,645 | €104,010 | -€88,635 | -46.0% |
| Fixed assets | 21/28 | €18,882 | €17,690 | -€1,192 | -6.3% |
| Tangible fixed assets | 22/27 | €18,882 | €17,690 | -€1,192 | -6.3% |
| Plant, machinery and equipment | 23 | €18,882 | €17,690 | -€1,192 | -6.3% |
| Current assets | 29/58 | €173,763 | €86,320 | -€87,443 | -50.3% |
| Amounts receivable within one year | 40/41 | €119,640 | €66,527 | -€53,113 | -44.4% |
| Trade receivables | 40 | €58,568 | €632 | -€57,937 | -98.9% |
| Other amounts receivable | 41 | €61,072 | €65,896 | +€4,824 | +7.9% |
| Cash at bank and in hand | 54/58 | €52,764 | €18,359 | -€34,405 | -65.2% |
| Deferred charges and accrued income | 490/1 | €1,359 | €1,434 | +€75 | +5.5% |
| Total equity and liabilities | 10/49 | €192,645 | €104,010 | -€88,635 | -46.0% |
| Equity | 10/15 | €132,375 | €99,228 | -€33,147 | -25.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,375 | €96,228 | -€33,147 | -25.6% |
| Amounts payable | 17/49 | €60,270 | €4,782 | -€55,488 | -92.1% |
| Amounts payable within one year | 42/48 | €59,770 | €4,782 | -€54,988 | -92.0% |
| Trade debts | 44 | €39,053 | €1,281 | -€37,772 | -96.7% |
| Suppliers | 440/4 | €39,053 | €1,281 | -€37,772 | -96.7% |
| Taxes, remuneration and social security | 45 | €19,785 | €3,036 | -€16,749 | -84.7% |
| Taxes | 450/3 | €16,685 | €3,036 | -€13,649 | -81.8% |
| Remuneration and social security | 454/9 | €3,100 | - | -€3,100 | |
| Other amounts payable | 47/48 | €932 | €464 | -€468 | -50.2% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,313 | €9,540 | +€1,227 | +14.8% |
| Other operating charges | 640/8 | €820 | €803 | -€17 | -2.0% |
| Gross operating margin | 9900 | €39,126 | -€21,226 | -€60,352 | |
| Operating profit (loss) | 9901 | €29,993 | -€31,570 | -€61,562 | |
| Financial charges | 65/66B | €316 | €618 | +€302 | +95.6% |
| Recurring financial charges | 65 | €316 | €618 | +€302 | +95.6% |
| Profit (loss) for the period before taxes | 9903 | €29,677 | -€32,187 | -€61,864 | |
| Income taxes | 67/77 | €9,826 | €959 | -€8,867 | -90.2% |
| Profit (loss) for the period | 9904 | €19,851 | -€33,147 | -€52,998 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,851 | -€33,147 | -€52,998 |
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 16 October 2026 via checked.be.