TMG+: 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.
TMG+
Largest movements
- Tangible fixed assets -€29,588
down €29,588 (-98.9%), from €29,906 to €318
- Receivables within one year +€2,997
up €2,997 (+9.8%), from €30,551 to €33,547
of which Other amounts receivable: +€2,071
- Intangible fixed assets -€1,500
down €1,500 (-50.0%), from €3,000 to €1,500
- Cash -€768
down €768 (-6.1%), from €12,501 to €11,733
mainly Debts after one year (-€22,099) and Current portion of long-term debt (-€9,436)
- Debts after one year -€22,099
no longer reported in 2025 (was €22,099)
- Current portion of long-term debt -€9,436
no longer reported in 2025 (was €9,436)
- Tax, wage and social debts -€4,777
down €4,777 (-57.0%), from €8,374 to €3,598
- Profit (loss) carried forward +€4,122
up €4,122 (+22.2%), from €18,580 to €22,702
- Trade debts +€3,026
up €3,026 (+174.5%), from €1,734 to €4,760
- Gross operating margin -€10,247
down €10,247 (-54.0%), from €18,968 to €8,721
- Depreciation -€10,005
down €10,005 (-84.3%), from €11,872 to €1,867
- Financial income +€1,901
new in 2025: €1,901
of which Non-recurring financial income: +€1,884
- Financial charges -€1,126
down €1,126 (-40.1%), from €2,806 to €1,680
of which Non-recurring financial charges: -€937
- Other operating charges -€332
down €332 (-32.8%), from €1,010 to €679
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 | €76,423 | €47,260 | -€29,164 | -38.2% |
| Fixed assets | 21/28 | €33,006 | €1,918 | -€31,088 | -94.2% |
| Intangible fixed assets | 21 | €3,000 | €1,500 | -€1,500 | -50.0% |
| Tangible fixed assets | 22/27 | €29,906 | €318 | -€29,588 | -98.9% |
| Furniture and vehicles | 24 | €29,906 | €318 | -€29,588 | -98.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €43,417 | €45,341 | +€1,924 | +4.4% |
| Amounts receivable within one year | 40/41 | €30,551 | €33,547 | +€2,997 | +9.8% |
| Trade receivables | 40 | €10,693 | €11,619 | +€926 | +8.7% |
| Other amounts receivable | 41 | €19,858 | €21,929 | +€2,071 | +10.4% |
| Cash at bank and in hand | 54/58 | €12,501 | €11,733 | -€768 | -6.1% |
| Deferred charges and accrued income | 490/1 | €366 | €61 | -€305 | -83.2% |
| Total equity and liabilities | 10/49 | €76,423 | €47,260 | -€29,164 | -38.2% |
| Equity | 10/15 | €34,780 | €38,902 | +€4,122 | +11.9% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Capital | 10 | €16,200 | - | -€16,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €2,400 | - | -€2,400 | |
| Profit (loss) carried forward | 14 | €18,580 | €22,702 | +€4,122 | +22.2% |
| Amounts payable | 17/49 | €41,643 | €8,357 | -€33,286 | -79.9% |
| Amounts payable after more than one year | 17 | €22,099 | - | -€22,099 | |
| Financial debts | 170/4 | €22,099 | - | -€22,099 | |
| Amounts payable within one year | 42/48 | €19,545 | €8,357 | -€11,187 | -57.2% |
| Current portion of amounts payable after more than one year | 42 | €9,436 | - | -€9,436 | |
| Trade debts | 44 | €1,734 | €4,760 | +€3,026 | +174.5% |
| Suppliers | 440/4 | €1,734 | €4,760 | +€3,026 | +174.5% |
| Taxes, remuneration and social security | 45 | €8,374 | €3,598 | -€4,777 | -57.0% |
| Taxes | 450/3 | €8,374 | €3,598 | -€4,777 | -57.0% |
| Non-recurring operating income | 76A | - | €65 | +€65 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,872 | €1,867 | -€10,005 | -84.3% |
| Other operating charges | 640/8 | €1,010 | €679 | -€332 | -32.8% |
| Gross operating margin | 9900 | €18,968 | €8,721 | -€10,247 | -54.0% |
| Operating profit (loss) | 9901 | €6,085 | €6,176 | +€90 | +1.5% |
| Financial income | 75/76B | - | €1,901 | +€1,901 | |
| Recurring financial income | 75 | - | €17 | +€17 | |
| Non-recurring financial income | 76B | - | €1,884 | +€1,884 | |
| Financial charges | 65/66B | €2,806 | €1,680 | -€1,126 | -40.1% |
| Recurring financial charges | 65 | €1,869 | €1,680 | -€189 | -10.1% |
| Non-recurring financial charges | 66B | €937 | - | -€937 | |
| Profit (loss) for the period before taxes | 9903 | €3,280 | €6,397 | +€3,117 | +95.0% |
| Income taxes | 67/77 | €2,051 | €2,275 | +€224 | +10.9% |
| Profit (loss) for the period | 9904 | €1,229 | €4,122 | +€2,894 | +235.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,229 | €4,122 | +€2,894 | +235.5% |
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 30 September 2026 via checked.be.