TMDA Corp: 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.
TMDA Corp
Largest movements
- Receivables after one year +€39,554
up €39,554 (+24.5%), from €161,527 to €201,081
- Deferred charges and accrued income +€11,635
up €11,635 (+42.0%), from €27,682 to €39,316
- Profit (loss) carried forward +€45,956
up €45,956 (+70.3%), from €65,417 to €111,373
- Trade debts +€9,639
up €9,639 (+1494.1%), from €645 to €10,284
- Debts after one year -€5,121
no longer reported in 2025 (was €5,121)
- Short-term financial debts -€3,193
no longer reported in 2025 (was €3,193)
- Gross operating margin +€23,417
up €23,417 (+62.7%), from €37,341 to €60,758
- Other operating charges -€2,104
down €2,104 (-75.4%), from €2,792 to €688
- Taxes +€1,561
up €1,561 (+9.8%), from €15,932 to €17,494
- Financial income +€951
up €951 (+10.7%), from €8,912 to €9,863
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 | €197,386 | €245,289 | +€47,903 | +24.3% |
| Fixed assets | 21/28 | €7,093 | €4,886 | -€2,207 | -31.1% |
| Tangible fixed assets | 22/27 | €6,323 | €4,116 | -€2,207 | -34.9% |
| Plant, machinery and equipment | 23 | €1,827 | €869 | -€958 | -52.4% |
| Furniture and vehicles | 24 | €4,496 | €3,247 | -€1,249 | -27.8% |
| Financial fixed assets | 28 | €770 | €770 | = | 0.0% |
| Current assets | 29/58 | €190,293 | €240,403 | +€50,110 | +26.3% |
| Amounts receivable after more than one year | 29 | €161,527 | €201,081 | +€39,554 | +24.5% |
| Other amounts receivable | 291 | €161,527 | €201,081 | +€39,554 | +24.5% |
| Cash at bank and in hand | 54/58 | €1,085 | €6 | -€1,079 | -99.5% |
| Deferred charges and accrued income | 490/1 | €27,682 | €39,316 | +€11,635 | +42.0% |
| Total equity and liabilities | 10/49 | €197,386 | €245,289 | +€47,903 | +24.3% |
| Equity | 10/15 | €124,081 | €170,038 | +€45,956 | +37.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,064 | €40,064 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,600 | €18,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,600 | €18,600 | = | 0.0% |
| Distributable reserves | 133 | €21,464 | €21,464 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,417 | €111,373 | +€45,956 | +70.3% |
| Amounts payable | 17/49 | €73,305 | €75,251 | +€1,946 | +2.7% |
| Amounts payable after more than one year | 17 | €5,121 | - | -€5,121 | |
| Financial debts | 170/4 | €5,121 | - | -€5,121 | |
| Amounts payable within one year | 42/48 | €68,184 | €75,251 | +€7,067 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €2,089 | €2,143 | +€54 | +2.6% |
| Financial debts | 43 | €3,193 | - | -€3,193 | |
| Credit institutions | 430/8 | €3,193 | - | -€3,193 | |
| Trade debts | 44 | €645 | €10,284 | +€9,639 | +1494.1% |
| Suppliers | 440/4 | €645 | €10,284 | +€9,639 | +1494.1% |
| Taxes, remuneration and social security | 45 | €35,097 | €35,665 | +€567 | +1.6% |
| Taxes | 450/3 | €33,297 | €33,865 | +€567 | +1.7% |
| Remuneration and social security | 454/9 | €1,800 | €1,800 | = | 0.0% |
| Other amounts payable | 47/48 | €27,159 | €27,159 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,684 | €2,656 | -€28 | -1.0% |
| Other operating charges | 640/8 | €2,792 | €688 | -€2,104 | -75.4% |
| Non-recurring operating charges | 66A | - | €28 | +€28 | |
| Gross operating margin | 9900 | €37,341 | €60,758 | +€23,417 | +62.7% |
| Operating profit (loss) | 9901 | €31,865 | €57,386 | +€25,521 | +80.1% |
| Financial income | 75/76B | €8,912 | €9,863 | +€951 | +10.7% |
| Recurring financial income | 75 | €8,912 | €9,863 | +€951 | +10.7% |
| Financial charges | 65/66B | €3,380 | €3,799 | +€419 | +12.4% |
| Recurring financial charges | 65 | €3,380 | €3,799 | +€419 | +12.4% |
| Profit (loss) for the period before taxes | 9903 | €37,397 | €63,450 | +€26,053 | +69.7% |
| Income taxes | 67/77 | €15,932 | €17,494 | +€1,561 | +9.8% |
| Profit (loss) for the period | 9904 | €21,464 | €45,956 | +€24,492 | +114.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,464 | €45,956 | +€24,492 | +114.1% |
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 2 October 2026 via checked.be.