Lien Timmerman: 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.
Lien Timmerman
Largest movements
- Cash +€65,557
up €65,557 (+49.4%), from €132,620 to €198,177
mainly Net result for the year (+€78,980) and Other debts (+€5,341)
- Receivables within one year +€21,743
up €21,743 (+43.3%), from €50,261 to €72,004
of which Other amounts receivable: +€22,145
- Tangible fixed assets -€3,471
down €3,471 (-39.5%), from €8,777 to €5,307
of which Plant, machinery and equipment: -€2,345
- Reserves +€72,780
up €72,780 (+37.0%), from €196,932 to €269,712
- Other debts +€5,341
up €5,341 (+621.8%), from €859 to €6,200
- Tax, wage and social debts +€3,222
up €3,222 (+4080.7%), from €79 to €3,301
of which Remuneration and social security: +€3,129
- Gross operating margin -€76,410
down €76,410 (-42.9%), from €178,161 to €101,751
- Taxes -€33,638
down €33,638 (-64.2%), from €52,407 to €18,769
- Financial charges +€3,087
up €3,087 (+288.2%), from €1,071 to €4,158
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 | €200,501 | €281,686 | +€81,185 | +40.5% |
| Fixed assets | 21/28 | €8,777 | €5,307 | -€3,471 | -39.5% |
| Tangible fixed assets | 22/27 | €8,777 | €5,307 | -€3,471 | -39.5% |
| Plant, machinery and equipment | 23 | €7,443 | €5,099 | -€2,345 | -31.5% |
| Furniture and vehicles | 24 | €861 | €208 | -€653 | -75.8% |
| Other tangible fixed assets | 26 | €473 | €0 | -€473 | -100.0% |
| Current assets | 29/58 | €191,724 | €276,380 | +€84,655 | +44.2% |
| Amounts receivable within one year | 40/41 | €50,261 | €72,004 | +€21,743 | +43.3% |
| Trade receivables | 40 | €403 | €0 | -€403 | -100.0% |
| Other amounts receivable | 41 | €49,859 | €72,004 | +€22,145 | +44.4% |
| Cash at bank and in hand | 54/58 | €132,620 | €198,177 | +€65,557 | +49.4% |
| Deferred charges and accrued income | 490/1 | €8,843 | €6,198 | -€2,644 | -29.9% |
| Total equity and liabilities | 10/49 | €200,501 | €281,686 | +€81,185 | +40.5% |
| Equity | 10/15 | €198,932 | €271,712 | +€72,780 | +36.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €196,932 | €269,712 | +€72,780 | +37.0% |
| Distributable reserves | 133 | €196,932 | €269,712 | +€72,780 | +37.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,569 | €9,974 | +€8,405 | +535.6% |
| Amounts payable within one year | 42/48 | €995 | €9,974 | +€8,979 | +902.0% |
| Trade debts | 44 | €58 | €473 | +€416 | +723.0% |
| Suppliers | 440/4 | €58 | €473 | +€416 | +723.0% |
| Taxes, remuneration and social security | 45 | €79 | €3,301 | +€3,222 | +4080.7% |
| Taxes | 450/3 | €79 | €172 | +€93 | +117.8% |
| Remuneration and social security | 454/9 | - | €3,129 | +€3,129 | |
| Other amounts payable | 47/48 | €859 | €6,200 | +€5,341 | +621.8% |
| Accrued charges and deferred income | 492/3 | €574 | €0 | -€574 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,648 | €2,998 | +€350 | +13.2% |
| Other operating charges | 640/8 | €0 | €144 | +€144 | |
| Non-recurring operating charges | 66A | - | €473 | +€473 | |
| Gross operating margin | 9900 | €178,161 | €101,751 | -€76,410 | -42.9% |
| Operating profit (loss) | 9901 | €175,514 | €98,137 | -€77,377 | -44.1% |
| Financial income | 75/76B | €2,914 | €3,770 | +€856 | +29.4% |
| Recurring financial income | 75 | €2,914 | €3,770 | +€856 | +29.4% |
| Financial charges | 65/66B | €1,071 | €4,158 | +€3,087 | +288.2% |
| Recurring financial charges | 65 | €1,071 | €4,158 | +€3,087 | +288.2% |
| Profit (loss) for the period before taxes | 9903 | €177,356 | €97,749 | -€79,608 | -44.9% |
| Income taxes | 67/77 | €52,407 | €18,769 | -€33,638 | -64.2% |
| Profit (loss) for the period | 9904 | €124,949 | €78,980 | -€45,970 | -36.8% |
| Profit (loss) for the period to be appropriated | 9905 | €124,949 | €78,980 | -€45,970 | -36.8% |
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 9 October 2026 via checked.be.