I am wondering whether it is possible to have a figure with text beside it, not sure how to achieve this. Currently, if I just write next to the image, I get a lot of white space. Not sure how to remove this/fill it in.
Images within text are not currently possible in TeXmacs. If you just want the figure and the text to lie side-by-side then you need to use a table with two column.
No problem. The table setup seems to work perfectly!