TMSD 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.
TMSD GROUP
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year +€5,550
up €5,550 (+8.7%), from €63,500 to €69,050
- Profit (loss) carried forward -€4,971
down €4,971 (-85.3%), from €5,828 to €857
- Gross operating margin -€13,685
down €13,685, from €9,226 to -€4,459
- Financial charges -€1,271
down €1,271 (-76.4%), from €1,664 to €393
- Other operating charges -€334
down €334 (-73.8%), from €453 to €119
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 | €149,667 | €151,491 | +€1,823 | +1.2% |
| Fixed assets | 21/28 | €148,886 | €150,060 | +€1,174 | +0.8% |
| Financial fixed assets | 28 | €148,886 | €150,060 | +€1,174 | +0.8% |
| Current assets | 29/58 | €781 | €1,431 | +€649 | +83.1% |
| Amounts receivable within one year | 40/41 | €457 | €0 | -€457 | -100% |
| Trade receivables | 40 | €457 | €0 | -€457 | -100% |
| Cash at bank and in hand | 54/58 | €324 | €1,431 | +€1,107 | +342% |
| Total equity and liabilities | 10/49 | €149,667 | €151,491 | +€1,823 | +1.2% |
| Equity | 10/15 | €85,330 | €80,359 | -€4,971 | -5.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €59,097 | €59,097 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100% |
| Distributable reserves | 133 | - | €1,855 | +€1,855 | |
| Profit (loss) carried forward | 14 | €5,828 | €857 | -€4,971 | -85.3% |
| Amounts payable | 17/49 | €64,337 | €71,132 | +€6,795 | +10.6% |
| Amounts payable after more than one year | 17 | €63,500 | €69,050 | +€5,550 | +8.7% |
| Other amounts payable | 178/9 | €63,500 | €69,050 | +€5,550 | +8.7% |
| Amounts payable within one year | 42/48 | €0 | €1,615 | +€1,615 | |
| Trade debts | 44 | €0 | €442 | +€442 | |
| Suppliers | 440/4 | €0 | €442 | +€442 | |
| Other amounts payable | 47/48 | - | €1,174 | +€1,174 | |
| Accrued charges and deferred income | 492/3 | €837 | €467 | -€371 | -44.3% |
| Non-recurring operating income | 76A | €12,674 | €0 | -€12,674 | -100% |
| Other operating charges | 640/8 | €453 | €119 | -€334 | -73.8% |
| Gross operating margin | 9900 | €9,226 | -€4,459 | -€13,685 | |
| Operating profit (loss) | 9901 | €8,773 | -€4,578 | -€13,351 | |
| Financial charges | 65/66B | €1,664 | €393 | -€1,271 | -76.4% |
| Recurring financial charges | 65 | €1,664 | €393 | -€1,271 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €7,109 | -€4,971 | -€12,080 | |
| Profit (loss) for the period | 9904 | €7,109 | -€4,971 | -€12,080 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,109 | -€4,971 | -€12,080 |
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 26 October 2026 via checked.be.