TMS: 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.
TMS
Largest movements
- Cash -€47,933
down €47,933 (-21.6%), from €222,169 to €174,236
mainly Contributions, distributions and other (-€185,500) and Investment in fixed assets (net) (-€98,259)
- Receivables after one year +€22,500
up €22,500 (+47.4%), from €47,500 to €70,000
- Receivables within one year +€17,936
up €17,936 (+20.2%), from €88,773 to €106,709
of which Other amounts receivable: +€9,144
- Tangible fixed assets +€7,566
up €7,566 (+2.0%), from €375,866 to €383,432
of which Furniture and vehicles: +€8,930
- Other debts +€171,957
up €171,957 (+1,268%), from €13,559 to €185,516
- Reserves -€147,000
down €147,000 (-35.3%), from €417,000 to €270,000
- Debts after one year +€43,178
up €43,178 (+48.5%), from €89,077 to €132,255
- Tax, wage and social debts -€39,914
down €39,914 (-58.2%), from €68,638 to €28,723
- Trade debts -€31,163
down €31,163 (-37.4%), from €83,362 to €52,200
- Gross operating margin -€84,175
down €84,175 (-35.6%), from €236,543 to €152,368
- Taxes -€33,150
down €33,150 (-73.4%), from €45,138 to €11,988
- Depreciation +€20,350
up €20,350 (+28.9%), from €70,343 to €90,693
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €737,533 | €737,577 | +€44 | 0.0% |
| Fixed assets | 21/28 | €375,866 | €383,432 | +€7,566 | +2.0% |
| Tangible fixed assets | 22/27 | €375,866 | €383,432 | +€7,566 | +2.0% |
| Plant, machinery and equipment | 23 | €266,868 | €268,798 | +€1,930 | +0.7% |
| Furniture and vehicles | 24 | €83,407 | €92,338 | +€8,930 | +10.7% |
| Other tangible fixed assets | 26 | €25,591 | €22,297 | -€3,294 | -12.9% |
| Current assets | 29/58 | €361,666 | €354,145 | -€7,522 | -2.1% |
| Amounts receivable after more than one year | 29 | €47,500 | €70,000 | +€22,500 | +47.4% |
| Other amounts receivable | 291 | €47,500 | €70,000 | +€22,500 | +47.4% |
| Amounts receivable within one year | 40/41 | €88,773 | €106,709 | +€17,936 | +20.2% |
| Trade receivables | 40 | €88,632 | €97,424 | +€8,792 | +9.9% |
| Other amounts receivable | 41 | €141 | €9,285 | +€9,144 | +6,479% |
| Cash at bank and in hand | 54/58 | €222,169 | €174,236 | -€47,933 | -21.6% |
| Deferred charges and accrued income | 490/1 | €3,225 | €3,200 | -€25 | -0.8% |
| Total equity and liabilities | 10/49 | €737,533 | €737,577 | +€44 | 0.0% |
| Equity | 10/15 | €425,973 | €279,475 | -€146,498 | -34.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €417,000 | €270,000 | -€147,000 | -35.3% |
| Distributable reserves | 133 | €417,000 | €270,000 | -€147,000 | -35.3% |
| Profit (loss) carried forward | 14 | €2,773 | €3,275 | +€502 | +18.1% |
| Amounts payable | 17/49 | €311,560 | €458,101 | +€146,542 | +47.0% |
| Amounts payable after more than one year | 17 | €89,077 | €132,255 | +€43,178 | +48.5% |
| Financial debts | 170/4 | €89,077 | €132,255 | +€43,178 | +48.5% |
| Amounts payable within one year | 42/48 | €222,483 | €325,847 | +€103,364 | +46.5% |
| Current portion of amounts payable after more than one year | 42 | €56,534 | €47,291 | -€9,243 | -16.3% |
| Financial debts | 43 | - | €11,728 | +€11,728 | |
| Credit institutions | 430/8 | - | €11,728 | +€11,728 | |
| Trade debts | 44 | €83,362 | €52,200 | -€31,163 | -37.4% |
| Suppliers | 440/4 | €83,362 | €52,200 | -€31,163 | -37.4% |
| Advances received on contracts in progress | 46 | €390 | €390 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €68,638 | €28,723 | -€39,914 | -58.2% |
| Taxes | 450/3 | €68,638 | €28,723 | -€39,914 | -58.2% |
| Other amounts payable | 47/48 | €13,559 | €185,516 | +€171,957 | +1,268% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,343 | €90,693 | +€20,350 | +28.9% |
| Other operating charges | 640/8 | €6,508 | €5,782 | -€726 | -11.2% |
| Gross operating margin | 9900 | €236,543 | €152,368 | -€84,175 | -35.6% |
| Operating profit (loss) | 9901 | €159,692 | €55,893 | -€103,799 | -65.0% |
| Financial income | 75/76B | €2,599 | €1,705 | -€894 | -34.4% |
| Recurring financial income | 75 | €2,599 | €1,705 | -€894 | -34.4% |
| Financial charges | 65/66B | €4,311 | €6,607 | +€2,296 | +53.3% |
| Recurring financial charges | 65 | €4,311 | €6,607 | +€2,296 | +53.3% |
| Profit (loss) for the period before taxes | 9903 | €157,980 | €50,990 | -€106,990 | -67.7% |
| Income taxes | 67/77 | €45,138 | €11,988 | -€33,150 | -73.4% |
| Profit (loss) for the period | 9904 | €112,842 | €39,002 | -€73,840 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €112,842 | €39,002 | -€73,840 | -65.4% |
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 17 October 2026 via checked.be.