TMS Group: 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 Group
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€228,478
down €228,478 (-70.6%), from €323,712 to €95,234
mainly Debts after one year (-€368,384) and Current investments (-€250,000)
- Tangible fixed assets -€65,045
down €65,045 (-2.7%), from €2.4m to €2.3m
- Debts after one year -€368,384
down €368,384 (-12.2%), from €3.0m to €2.7m
- Reserves +€312,613
up €312,613 (+43.1%), from €725,827 to €1.0m
- Financial charges +€51,076
up €51,076 (+85.0%), from €60,084 to €111,160
- Gross operating margin -€20,717
down €20,717 (-25.7%), from €80,696 to €59,979
- Depreciation -€17,008
down €17,008 (-16.1%), from €105,346 to €88,338
- Other operating charges +€12,591
up €12,591 (+315%), from €4,003 to €16,594
- Taxes -€5,959
down €5,959 (-15.8%), from €37,631 to €31,672
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 | €5,098,722 | €5,040,942 | -€57,780 | -1.1% |
| Formation expenses | 20 | €613 | €70 | -€543 | -88.6% |
| Fixed assets | 21/28 | €4,724,606 | €4,659,561 | -€65,045 | -1.4% |
| Tangible fixed assets | 22/27 | €2,374,606 | €2,309,561 | -€65,045 | -2.7% |
| Land and buildings | 22 | €2,374,606 | €2,309,561 | -€65,045 | -2.7% |
| Financial fixed assets | 28 | €2,350,000 | €2,350,000 | = | 0.0% |
| Current assets | 29/58 | €373,503 | €381,311 | +€7,808 | +2.1% |
| Amounts receivable within one year | 40/41 | €40,791 | €35,467 | -€5,324 | -13.1% |
| Trade receivables | 40 | €40,056 | €35,467 | -€4,589 | -11.5% |
| Other amounts receivable | 41 | €735 | €0 | -€735 | -100% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €323,712 | €95,234 | -€228,478 | -70.6% |
| Deferred charges and accrued income | 490/1 | €9,000 | €610 | -€8,390 | -93.2% |
| Total equity and liabilities | 10/49 | €5,098,722 | €5,040,942 | -€57,780 | -1.1% |
| Equity | 10/15 | €975,827 | €1,288,440 | +€312,613 | +32.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €725,827 | €1,038,440 | +€312,613 | +43.1% |
| Distributable reserves | 133 | €725,827 | €1,038,440 | +€312,613 | +43.1% |
| Amounts payable | 17/49 | €4,122,895 | €3,752,502 | -€370,393 | -9.0% |
| Amounts payable after more than one year | 17 | €3,026,984 | €2,658,601 | -€368,384 | -12.2% |
| Financial debts | 170/4 | €3,026,984 | €2,658,601 | -€368,384 | -12.2% |
| Amounts payable within one year | 42/48 | €1,083,765 | €1,079,714 | -€4,051 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €363,800 | €368,384 | +€4,584 | +1.3% |
| Trade debts | 44 | €30,394 | €71,160 | +€40,765 | +134% |
| Suppliers | 440/4 | €30,394 | €71,160 | +€40,765 | +134% |
| Taxes, remuneration and social security | 45 | €69,142 | €43,403 | -€25,739 | -37.2% |
| Taxes | 450/3 | €69,142 | €43,403 | -€25,739 | -37.2% |
| Other amounts payable | 47/48 | €620,428 | €596,767 | -€23,660 | -3.8% |
| Accrued charges and deferred income | 492/3 | €12,146 | €14,188 | +€2,042 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,346 | €88,338 | -€17,008 | -16.1% |
| Other operating charges | 640/8 | €4,003 | €16,594 | +€12,591 | +315% |
| Gross operating margin | 9900 | €80,696 | €59,979 | -€20,717 | -25.7% |
| Operating profit (loss) | 9901 | -€28,653 | -€44,953 | -€16,300 | -56.9% |
| Financial income | 75/76B | €500,000 | €500,397 | +€397 | +0.1% |
| Recurring financial income | 75 | €500,000 | €500,397 | +€397 | +0.1% |
| Financial charges | 65/66B | €60,084 | €111,160 | +€51,076 | +85.0% |
| Recurring financial charges | 65 | €60,084 | €111,160 | +€51,076 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €411,263 | €344,285 | -€66,979 | -16.3% |
| Income taxes | 67/77 | €37,631 | €31,672 | -€5,959 | -15.8% |
| Profit (loss) for the period | 9904 | €373,632 | €312,613 | -€61,020 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €373,632 | €312,613 | -€61,020 | -16.3% |
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 16 October 2026 via checked.be.