TMD IMMO: 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.
TMD IMMO
Largest movements
- Stocks and contracts +€38,973
up €38,973 (+49.3%), from €79,000 to €117,973
- Cash +€5,618
up €5,618 (+40.4%), from €13,911 to €19,529
mainly Other debts (+€42,268) and Trade debts (+€7,746)
- Receivables within one year -€3,478
down €3,478 (-24.6%), from €14,118 to €10,640
of which Other amounts receivable: -€4,688
- Other debts +€42,268
up €42,268 (+47.5%), from €88,962 to €131,230
- Profit (loss) carried forward -€13,052
down €13,052 (-58.6%), from -€22,274 to -€35,326
- Trade debts +€7,746
up €7,746 (+1600.3%), from €484 to €8,230
- Tax, wage and social debts +€4,688
up €4,688 (+195.6%), from €2,397 to €7,084
of which Taxes: +€2,788
- Financial charges +€15,710
up €15,710 (+56.3%), from €27,907 to €43,617
- Gross operating margin -€12,031
down €12,031 (-27.3%), from €44,067 to €32,037
- Write-downs -€1,690
no longer reported in 2025 (was €1,690)
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.
Cash bridge derived
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 | €109,872 | €151,522 | +€41,650 | +37.9% |
| Fixed assets | 21/28 | €2,843 | €2,091 | -€753 | -26.5% |
| Tangible fixed assets | 22/27 | €2,843 | €2,091 | -€753 | -26.5% |
| Land and buildings | 22 | €369 | €246 | -€123 | -33.3% |
| Plant, machinery and equipment | 23 | €2,385 | €1,845 | -€540 | -22.6% |
| Furniture and vehicles | 24 | €90 | - | -€90 | |
| Current assets | 29/58 | €107,029 | €149,432 | +€42,403 | +39.6% |
| Stocks and contracts in progress | 3 | €79,000 | €117,973 | +€38,973 | +49.3% |
| Stocks | 30/36 | €79,000 | €117,973 | +€38,973 | +49.3% |
| Amounts receivable within one year | 40/41 | €14,118 | €10,640 | -€3,478 | -24.6% |
| Trade receivables | 40 | €9,430 | €10,640 | +€1,210 | +12.8% |
| Other amounts receivable | 41 | €4,688 | - | -€4,688 | |
| Cash at bank and in hand | 54/58 | €13,911 | €19,529 | +€5,618 | +40.4% |
| Deferred charges and accrued income | 490/1 | - | €1,290 | +€1,290 | |
| Total equity and liabilities | 10/49 | €109,872 | €151,522 | +€41,650 | +37.9% |
| Equity | 10/15 | €18,030 | €4,978 | -€13,052 | -72.4% |
| Contributions | 10/11 | €13,640 | €13,640 | = | 0.0% |
| Reserves | 13 | €26,664 | €26,664 | = | 0.0% |
| Distributable reserves | 133 | €26,664 | €26,664 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,274 | -€35,326 | -€13,052 | -58.6% |
| Amounts payable | 17/49 | €91,842 | €146,544 | +€54,702 | +59.6% |
| Amounts payable within one year | 42/48 | €91,842 | €146,544 | +€54,702 | +59.6% |
| Trade debts | 44 | €484 | €8,230 | +€7,746 | +1600.3% |
| Suppliers | 440/4 | €484 | €8,230 | +€7,746 | +1600.3% |
| Taxes, remuneration and social security | 45 | €2,397 | €7,084 | +€4,688 | +195.6% |
| Taxes | 450/3 | €2,397 | €5,184 | +€2,788 | +116.3% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Other amounts payable | 47/48 | €88,962 | €131,230 | +€42,268 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €707 | €753 | +€45 | +6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,690 | - | -€1,690 | |
| Other operating charges | 640/8 | €387 | €401 | +€14 | +3.6% |
| Gross operating margin | 9900 | €44,067 | €32,037 | -€12,031 | -27.3% |
| Operating profit (loss) | 9901 | €41,283 | €30,883 | -€10,400 | -25.2% |
| Financial charges | 65/66B | €27,907 | €43,617 | +€15,710 | +56.3% |
| Recurring financial charges | 65 | €27,907 | €43,617 | +€15,710 | +56.3% |
| Profit (loss) for the period before taxes | 9903 | €13,376 | -€12,734 | -€26,110 | |
| Income taxes | 67/77 | €312 | €317 | +€5 | +1.7% |
| Profit (loss) for the period | 9904 | €13,064 | -€13,052 | -€26,116 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,064 | -€13,052 | -€26,116 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.