TPMW: what changed
Two fiscal 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.
TPMW
Largest movements
- Receivables within one year +€555,946
up €555,946 (+1941.8%), from €28,630 to €584,576
- Cash +€37,133
up €37,133 (+21.6%), from €172,061 to €209,194
mainly Trade debts (+€485,872) and Net result for the year (+€69,786)
- Trade debts +€485,872
up €485,872 (+674.4%), from €72,047 to €557,919
- Profit (loss) carried forward +€69,786
up €69,786 (+73.6%), from €94,759 to €164,546
- Other debts +€56,085
new in 2025: €56,085
- Accrued charges and deferred income -€55,860
no longer reported in 2025 (was €55,860)
- Tax, wage and social debts +€38,806
up €38,806 (+65.6%), from €59,168 to €97,975
of which Taxes: +€26,364
- Gross operating margin +€93,025
up €93,025 (+39.2%), from €237,310 to €330,336
- Staff costs +€47,435
up €47,435 (+34.6%), from €137,160 to €184,596
- Depreciation -€8,745
down €8,745 (-72.3%), from €12,102 to €3,357
- Taxes +€6,301
up €6,301 (+33.0%), from €19,094 to €25,395
- Financial charges -€5,207
down €5,207 (-32.3%), from €16,138 to €10,931
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 | €314,835 | €909,525 | +€594,690 | +188.9% |
| Fixed assets | 21/28 | €14,252 | €10,895 | -€3,357 | -23.6% |
| Tangible fixed assets | 22/27 | €10,902 | €7,545 | -€3,357 | -30.8% |
| Plant, machinery and equipment | 23 | €9,795 | €7,002 | -€2,793 | -28.5% |
| Furniture and vehicles | 24 | €1,107 | €543 | -€564 | -51.0% |
| Financial fixed assets | 28 | €3,350 | €3,350 | = | 0.0% |
| Current assets | 29/58 | €300,583 | €898,630 | +€598,047 | +199.0% |
| Stocks and contracts in progress | 3 | €96,460 | €104,860 | +€8,400 | +8.7% |
| Stocks | 30/36 | €96,460 | €104,860 | +€8,400 | +8.7% |
| Amounts receivable within one year | 40/41 | €28,630 | €584,576 | +€555,946 | +1941.8% |
| Trade receivables | 40 | €28,630 | €584,576 | +€555,946 | +1941.8% |
| Cash at bank and in hand | 54/58 | €172,061 | €209,194 | +€37,133 | +21.6% |
| Deferred charges and accrued income | 490/1 | €3,432 | €0 | -€3,432 | -100.0% |
| Total equity and liabilities | 10/49 | €314,835 | €909,525 | +€594,690 | +188.9% |
| Equity | 10/15 | €127,759 | €197,546 | +€69,786 | +54.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Outside capital | 11 | €30,000 | - | -€30,000 | |
| Other | 1109/19 | €30,000 | - | -€30,000 | |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,759 | €164,546 | +€69,786 | +73.6% |
| Amounts payable | 17/49 | €187,075 | €711,979 | +€524,904 | +280.6% |
| Amounts payable within one year | 42/48 | €131,215 | €711,979 | +€580,764 | +442.6% |
| Trade debts | 44 | €72,047 | €557,919 | +€485,872 | +674.4% |
| Suppliers | 440/4 | €72,047 | €557,919 | +€485,872 | +674.4% |
| Taxes, remuneration and social security | 45 | €59,168 | €97,975 | +€38,806 | +65.6% |
| Taxes | 450/3 | €47,125 | €73,489 | +€26,364 | +55.9% |
| Remuneration and social security | 454/9 | €12,043 | €24,486 | +€12,442 | +103.3% |
| Other amounts payable | 47/48 | - | €56,085 | +€56,085 | |
| Accrued charges and deferred income | 492/3 | €55,860 | - | -€55,860 | |
| Non-recurring operating income | 76A | - | €7,799 | +€7,799 | |
| Remuneration, social security and pensions | 62 | €137,160 | €184,596 | +€47,435 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,102 | €3,357 | -€8,745 | -72.3% |
| Other operating charges | 640/8 | €3,364 | €6,659 | +€3,295 | +98.0% |
| Non-recurring operating charges | 66A | - | €30,000 | +€30,000 | |
| Gross operating margin | 9900 | €237,310 | €330,336 | +€93,025 | +39.2% |
| Operating profit (loss) | 9901 | €84,684 | €105,724 | +€21,040 | +24.8% |
| Financial income | 75/76B | €15 | €389 | +€374 | +2550.4% |
| Recurring financial income | 75 | €15 | €389 | +€374 | +2550.4% |
| Financial charges | 65/66B | €16,138 | €10,931 | -€5,207 | -32.3% |
| Recurring financial charges | 65 | €16,138 | €10,931 | -€5,207 | -32.3% |
| Profit (loss) for the period before taxes | 9903 | €68,561 | €95,182 | +€26,621 | +38.8% |
| Income taxes | 67/77 | €19,094 | €25,395 | +€6,301 | +33.0% |
| Profit (loss) for the period | 9904 | €49,466 | €69,786 | +€20,320 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €49,466 | €69,786 | +€20,320 | +41.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.