TMV - MANAGEMENT: 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.
TMV - MANAGEMENT
Largest movements
- Tangible fixed assets -€18,010
down €18,010 (-4.5%), from €401,941 to €383,931
of which Land and buildings: -€17,713
- Other debts -€18,584
down €18,584 (-3.0%), from €610,429 to €591,846
- Depreciation -€1,880
down €1,880 (-9.5%), from €19,890 to €18,010
- Gross operating margin -€940
down €940 (-3.4%), from €27,403 to €26,462
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 | €405,466 | €389,777 | -€15,690 | -3.9% |
| Fixed assets | 21/28 | €402,341 | €384,331 | -€18,010 | -4.5% |
| Tangible fixed assets | 22/27 | €401,941 | €383,931 | -€18,010 | -4.5% |
| Land and buildings | 22 | €401,644 | €383,931 | -€17,713 | -4.4% |
| Plant, machinery and equipment | 23 | €297 | €0 | -€297 | -100.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €3,126 | €5,446 | +€2,320 | +74.2% |
| Cash at bank and in hand | 54/58 | €920 | €3,149 | +€2,229 | +242.1% |
| Deferred charges and accrued income | 490/1 | €2,205 | €2,297 | +€92 | +4.2% |
| Total equity and liabilities | 10/49 | €405,466 | €389,777 | -€15,690 | -3.9% |
| Equity | 10/15 | -€207,563 | -€203,572 | +€3,991 | +1.9% |
| Contributions | 10/11 | €695,787 | €695,787 | = | 0.0% |
| Capital | 10 | €695,787 | €695,787 | = | 0.0% |
| Issued capital | 100 | €695,787 | €695,787 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€905,350 | -€901,359 | +€3,991 | +0.4% |
| Amounts payable | 17/49 | €613,030 | €593,349 | -€19,681 | -3.2% |
| Amounts payable within one year | 42/48 | €613,030 | €593,349 | -€19,681 | -3.2% |
| Trade debts | 44 | €2,600 | €1,503 | -€1,097 | -42.2% |
| Suppliers | 440/4 | €2,600 | €1,503 | -€1,097 | -42.2% |
| Other amounts payable | 47/48 | €610,429 | €591,846 | -€18,584 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,890 | €18,010 | -€1,880 | -9.5% |
| Other operating charges | 640/8 | €4,160 | €4,326 | +€167 | +4.0% |
| Gross operating margin | 9900 | €27,403 | €26,462 | -€940 | -3.4% |
| Operating profit (loss) | 9901 | €3,353 | €4,126 | +€773 | +23.1% |
| Financial charges | 65/66B | €58 | €135 | +€77 | +132.0% |
| Recurring financial charges | 65 | €58 | €135 | +€77 | +132.0% |
| Profit (loss) for the period before taxes | 9903 | €3,295 | €3,991 | +€696 | +21.1% |
| Profit (loss) for the period | 9904 | €3,295 | €3,991 | +€696 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,295 | €3,991 | +€696 | +21.1% |
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 12 October 2026 via checked.be.