TMF BELGIUM: 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.
What changed
TMF BELGIUM
NACE 73.200, Market research and public opinion polling
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€38,544
2024 · €316,411-€277,867
Equity
€1.4m
2024 · €1.4m+€38,544
Cash
€1,572
2024 · €699,204-€697,633
Balance sheet total
€3.4m
2024 · €3.5m-€100,102
Largest movements
Assets
- Cash -€697,633
down €697,633 (-99.8%), from €699,204 to €1,572
mainly Tax, wage and social debts (-€741,383) and Receivables within one year (-€581,089)
- Receivables within one year +€581,089
up €581,089 (+22.2%), from €2.6m to €3.2m
of which Trade receivables: +€325,464
Equity and liabilities
- Tax, wage and social debts -€741,383
down €741,383 (-64.7%), from €1.1m to €403,993
of which Remuneration and social security: -€696,919
- Short-term financial debts +€530,915
new in 2025: €530,915
- Trade debts +€46,101
up €46,101 (+4.5%), from €1.0m to €1.1m
- Profit (loss) carried forward +€38,544
up €38,544 (+3.0%), from €1.3m to €1.3m
Income statement
- Staff costs -€936,307
down €936,307 (-26.9%), from €3.5m to €2.5m
- Other operating income -€871,230
down €871,230 (-44.4%), from €2.0m to €1.1m
- Services and other goods +€309,794
up €309,794 (+12.4%), from €2.5m to €2.8m
- Financial income -€93,855
down €93,855 (-86.0%), from €109,079 to €15,224
- Taxes -€87,464
down €87,464 (-58.7%), from €148,924 to €61,460
of which Taxes: -€92,904
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.
Result 2024
€316,411
Turnover
+€8,850
Other operating income
-€871,230
Services and other goods
-€309,794
Staff costs
+€936,307
Depreciation
-€4,534
Write-downs
+€2,206
Other operating charges
-€7,732
Other operating items
-€7,810
Financial income
-€93,855
Financial charges
-€17,738
Taxes
+€87,464
Result 2025
€38,544
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.2m
Investment
-€45,345
Financing
+€530,915
Cash 2024
€699,204
From operations (derived)
-€1.2m
Net result for the year
+€38,544
Depreciation
+€40,781
Receivables within one year
-€581,089
Deferred charges and accrued income
-€11,877
Trade debts
+€46,101
Tax, wage and social debts
-€741,383
Other debts
+€545
Accrued charges and deferred income
+€25,177
Investment (derived)
-€45,345
Investment in fixed assets (net)
-€45,345
Financing
+€530,915
Short-term financial debts
+€530,915
Cash 2025
€1,572
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,544,959 | €3,444,856 | -€100,102 | -2.8% |
| Fixed assets | 21/28 | €196,077 | €200,641 | +€4,564 | +2.3% |
| Intangible fixed assets | 21 | €53,156 | €42,547 | -€10,608 | -20.0% |
| Tangible fixed assets | 22/27 | €137,922 | €158,094 | +€20,173 | +14.6% |
| Furniture and vehicles | 24 | €120,426 | €138,347 | +€17,921 | +14.9% |
| Other tangible fixed assets | 26 | €17,496 | €19,747 | +€2,251 | +12.9% |
| Financial fixed assets | 28 | €5,000 | €0 | -€5,000 | -100% |
| Affiliated companies | 280/1 | €5,000 | €0 | -€5,000 | -100% |
| Participating interests | 280 | €5,000 | €0 | -€5,000 | -100% |
| Current assets | 29/58 | €3,348,881 | €3,244,215 | -€104,667 | -3.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,618,344 | €3,199,433 | +€581,089 | +22.2% |
| Trade receivables | 40 | €2,618,344 | €2,943,808 | +€325,464 | +12.4% |
| Other amounts receivable | 41 | €0 | €255,625 | +€255,625 | |
| Cash at bank and in hand | 54/58 | €699,204 | €1,572 | -€697,633 | -99.8% |
| Deferred charges and accrued income | 490/1 | €31,333 | €43,210 | +€11,877 | +37.9% |
| Total equity and liabilities | 10/49 | €3,544,959 | €3,444,856 | -€100,102 | -2.8% |
| Equity | 10/15 | €1,366,901 | €1,405,445 | +€38,544 | +2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,298,701 | €1,337,245 | +€38,544 | +3.0% |
| Amounts payable | 17/49 | €2,178,058 | €2,039,411 | -€138,647 | -6.4% |
| Amounts payable within one year | 42/48 | €2,178,058 | €2,014,235 | -€163,823 | -7.5% |
| Financial debts | 43 | - | €530,915 | +€530,915 | |
| Credit institutions | 430/8 | - | €530,915 | +€530,915 | |
| Trade debts | 44 | €1,032,379 | €1,078,479 | +€46,101 | +4.5% |
| Suppliers | 440/4 | €1,032,379 | €1,078,479 | +€46,101 | +4.5% |
| Taxes, remuneration and social security | 45 | €1,145,376 | €403,993 | -€741,383 | -64.7% |
| Taxes | 450/3 | €241,016 | €196,551 | -€44,465 | -18.4% |
| Remuneration and social security | 454/9 | €904,360 | €207,441 | -€696,919 | -77.1% |
| Other amounts payable | 47/48 | €303 | €848 | +€545 | +180% |
| Accrued charges and deferred income | 492/3 | €0 | €25,177 | +€25,177 | +22,887,845% |
| Operating income | 70/76A | €6,416,780 | €5,554,400 | -€862,380 | -13.4% |
| Turnover | 70 | €4,452,471 | €4,461,321 | +€8,850 | +0.2% |
| Other operating income | 74 | €1,964,309 | €1,093,079 | -€871,230 | -44.4% |
| Operating charges | 60/66A | €6,038,869 | €5,430,227 | -€608,642 | -10.1% |
| Services and other goods | 61 | €2,494,857 | €2,804,651 | +€309,794 | +12.4% |
| Remuneration, social security and pensions | 62 | €3,478,044 | €2,541,738 | -€936,307 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,247 | €40,781 | +€4,534 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,206 | €0 | -€2,206 | -100% |
| Other operating charges | 640/8 | €27,515 | €35,247 | +€7,732 | +28.1% |
| Non-recurring operating charges | 66A | - | €7,810 | +€7,810 | |
| Operating profit (loss) | 9901 | €377,911 | €124,173 | -€253,738 | -67.1% |
| Financial income | 75/76B | €109,079 | €15,224 | -€93,855 | -86.0% |
| Recurring financial income | 75 | €109,079 | €15,224 | -€93,855 | -86.0% |
| Income from current assets | 751 | €101,489 | €12,129 | -€89,360 | -88.0% |
| Other financial income | 752/9 | €7,590 | €3,095 | -€4,495 | -59.2% |
| Financial charges | 65/66B | €21,654 | €39,393 | +€17,738 | +81.9% |
| Recurring financial charges | 65 | €21,654 | €39,393 | +€17,738 | +81.9% |
| Debt charges | 650 | €232 | €21,906 | +€21,674 | +9,349% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €21,423 | €17,487 | -€3,935 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €465,335 | €100,004 | -€365,331 | -78.5% |
| Income taxes | 67/77 | €148,924 | €61,460 | -€87,464 | -58.7% |
| Taxes | 670/3 | €154,443 | €61,539 | -€92,904 | -60.2% |
| Tax adjustments and reversals of tax provisions | 77 | €5,519 | €79 | -€5,440 | -98.6% |
| Profit (loss) for the period | 9904 | €316,411 | €38,544 | -€277,867 | -87.8% |
| Profit (loss) for the period to be appropriated | 9905 | €316,411 | €38,544 | -€277,867 | -87.8% |
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 27 October 2026 via checked.be.