The magnetic structures which endow TbMnO$_3$ with its multiferroic properties have been reassessed on the basis of a comprehensive soft x-ray resonant scattering (XRS) study. The selectivity of XRS facilitated separation of the various contributions (Mn $L_2$ edge, Mn 3d moments; Tb M$_4$ edge, Tb 4f moments), while its variation with azimuth provided information on the moment direction of distinct Fourier components. When the data are combined with a detailed group theory analysis, a new picture emerges of the ferroelectric transition at 28 K. Instead of being driven by the transition from a collinear to a non-collinear magnetic structure, as has previously been supposed, it is shown to occur between two non-collinear structures.