TMKA: what changed
TMKA
Largest movements
- Financial fixed assets +€78,000
up €78,000 (+56.9%), from €137,200 to €215,200
- Cash -€71,041
down €71,041 (-97.1%), from €73,152 to €2,111
mainly Investment in fixed assets (net) (-€78,000) and Other debts (-€16,878)
- Receivables within one year -€3,061
down €3,061 (-20.0%), from €15,267 to €12,206
of which Trade receivables: -€2,722
- Debts after one year +€17,236
up €17,236, from €0 to €17,236
- Other debts -€16,878
down €16,878 (-8.8%), from €192,015 to €175,137
- Current portion of long-term debt +€2,657
up €2,657 (+37.0%), from €7,182 to €9,840
- Financial charges +€4,773
up €4,773 (+61.5%), from €7,760 to €12,532
- Gross operating margin -€2,015
down €2,015 (-15.9%), from €12,697 to €10,682
- Taxes -€1,695
down €1,695 (-47.4%), from €3,575 to €1,879
- Financial income +€1,518
up €1,518 (+32.8%), from €4,626 to €6,144
- Depreciation +€355
up €355 (+40.8%), from €872 to €1,227
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,126 | €234,741 | +€2,615 | +1.1% |
| Fixed assets | 21/28 | €140,009 | €216,782 | +€76,773 | +54.8% |
| Tangible fixed assets | 22/27 | €2,809 | €1,582 | -€1,227 | -43.7% |
| Furniture and vehicles | 24 | €2,809 | €1,582 | -€1,227 | -43.7% |
| Financial fixed assets | 28 | €137,200 | €215,200 | +€78,000 | +56.9% |
| Current assets | 29/58 | €92,117 | €17,958 | -€74,158 | -80.5% |
| Amounts receivable within one year | 40/41 | €15,267 | €12,206 | -€3,061 | -20.0% |
| Trade receivables | 40 | €14,913 | €12,191 | -€2,722 | -18.3% |
| Other amounts receivable | 41 | €354 | €16 | -€339 | -95.6% |
| Cash at bank and in hand | 54/58 | €73,152 | €2,111 | -€71,041 | -97.1% |
| Deferred charges and accrued income | 490/1 | €3,697 | €3,641 | -€57 | -1.5% |
| Total equity and liabilities | 10/49 | €232,126 | €234,741 | +€2,615 | +1.1% |
| Equity | 10/15 | €21,753 | €21,826 | +€73 | +0.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €12,741 | €12,741 | = | 0.0% |
| Distributable reserves | 133 | €12,741 | €12,741 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,012 | €8,085 | +€73 | +0.9% |
| Amounts payable | 17/49 | €210,373 | €212,915 | +€2,542 | +1.2% |
| Amounts payable after more than one year | 17 | €0 | €17,236 | +€17,236 | |
| Financial debts | 170/4 | €0 | €17,236 | +€17,236 | |
| Amounts payable within one year | 42/48 | €208,027 | €193,333 | -€14,694 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €7,182 | €9,840 | +€2,657 | +37.0% |
| Trade debts | 44 | €308 | €95 | -€213 | -69.1% |
| Suppliers | 440/4 | €308 | €95 | -€213 | -69.1% |
| Taxes, remuneration and social security | 45 | €8,522 | €8,261 | -€261 | -3.1% |
| Taxes | 450/3 | €8,522 | €7,332 | -€1,190 | -14.0% |
| Remuneration and social security | 454/9 | €0 | €930 | +€930 | |
| Other amounts payable | 47/48 | €192,015 | €175,137 | -€16,878 | -8.8% |
| Accrued charges and deferred income | 492/3 | €2,345 | €2,345 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €872 | €1,227 | +€355 | +40.8% |
| Other operating charges | 640/8 | €1,043 | €1,115 | +€72 | +6.9% |
| Gross operating margin | 9900 | €12,697 | €10,682 | -€2,015 | -15.9% |
| Operating profit (loss) | 9901 | €10,783 | €8,340 | -€2,443 | -22.7% |
| Financial income | 75/76B | €4,626 | €6,144 | +€1,518 | +32.8% |
| Recurring financial income | 75 | €4,626 | €6,144 | +€1,518 | +32.8% |
| Financial charges | 65/66B | €7,760 | €12,532 | +€4,773 | +61.5% |
| Recurring financial charges | 65 | €7,760 | €12,532 | +€4,773 | +61.5% |
| Profit (loss) for the period before taxes | 9903 | €7,649 | €1,952 | -€5,697 | -74.5% |
| Income taxes | 67/77 | €3,575 | €1,879 | -€1,695 | -47.4% |
| Profit (loss) for the period | 9904 | €4,074 | €73 | -€4,002 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,074 | €73 | -€4,002 | -98.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.