PERDU TIMOTHY: 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.
PERDU TIMOTHY
Largest movements
- Receivables within one year +€24,083
up €24,083 (+221.8%), from €10,858 to €34,941
of which Trade receivables: +€21,669
- Stocks and contracts -€18,970
down €18,970 (-63.9%), from €29,700 to €10,730
of which Contracts in progress: -€16,850
- Cash +€13,088
up €13,088 (+5.6%), from €234,781 to €247,869
mainly Other debts (+€159,412) and Net result for the year (+€34,707)
- Receivables after one year -€13,000
no longer reported in 2025 (was €13,000)
- Tangible fixed assets -€11,691
down €11,691 (-12.4%), from €94,187 to €82,496
of which Furniture and vehicles: -€7,807
- Other debts +€159,412
up €159,412 (+489.9%), from €32,539 to €191,951
- Reserves -€153,300
down €153,300 (-57.4%), from €267,260 to €113,960
of which Distributable reserves: -€153,300
- Debts after one year -€9,762
down €9,762 (-26.0%), from €37,494 to €27,732
- Financial charges +€20,277
up €20,277 (+2301.8%), from €881 to €21,158
of which Non-recurring financial charges: +€19,394
- Gross operating margin +€19,009
up €19,009 (+29.3%), from €64,939 to €83,948
- Taxes -€1,417
down €1,417 (-10.1%), from €14,071 to €12,654
- Depreciation -€997
down €997 (-8.2%), from €12,102 to €11,105
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 | €384,531 | €378,017 | -€6,514 | -1.7% |
| Fixed assets | 21/28 | €94,187 | €82,496 | -€11,691 | -12.4% |
| Tangible fixed assets | 22/27 | €94,187 | €82,496 | -€11,691 | -12.4% |
| Land and buildings | 22 | €19,794 | €17,682 | -€2,112 | -10.7% |
| Plant, machinery and equipment | 23 | €6,245 | €4,472 | -€1,773 | -28.4% |
| Furniture and vehicles | 24 | €68,149 | €60,342 | -€7,807 | -11.5% |
| Current assets | 29/58 | €290,344 | €295,521 | +€5,177 | +1.8% |
| Amounts receivable after more than one year | 29 | €13,000 | - | -€13,000 | |
| Other amounts receivable | 291 | €13,000 | - | -€13,000 | |
| Stocks and contracts in progress | 3 | €29,700 | €10,730 | -€18,970 | -63.9% |
| Stocks | 30/36 | €12,850 | €10,730 | -€2,120 | -16.5% |
| Contracts in progress | 37 | €16,850 | - | -€16,850 | |
| Amounts receivable within one year | 40/41 | €10,858 | €34,941 | +€24,083 | +221.8% |
| Trade receivables | 40 | €9,546 | €31,215 | +€21,669 | +227.0% |
| Other amounts receivable | 41 | €1,312 | €3,726 | +€2,414 | +184.1% |
| Cash at bank and in hand | 54/58 | €234,781 | €247,869 | +€13,088 | +5.6% |
| Deferred charges and accrued income | 490/1 | €2,005 | €1,981 | -€24 | -1.2% |
| Total equity and liabilities | 10/49 | €384,531 | €378,017 | -€6,514 | -1.7% |
| Equity | 10/15 | €274,868 | €121,575 | -€153,293 | -55.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €267,260 | €113,960 | -€153,300 | -57.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €265,400 | €112,100 | -€153,300 | -57.8% |
| Profit (loss) carried forward | 14 | €1,408 | €1,415 | +€7 | +0.5% |
| Amounts payable | 17/49 | €109,663 | €256,442 | +€146,779 | +133.8% |
| Amounts payable after more than one year | 17 | €37,494 | €27,732 | -€9,762 | -26.0% |
| Financial debts | 170/4 | €37,494 | €27,732 | -€9,762 | -26.0% |
| Amounts payable within one year | 42/48 | €72,168 | €228,710 | +€156,542 | +216.9% |
| Current portion of amounts payable after more than one year | 42 | €10,121 | €9,762 | -€358 | -3.5% |
| Trade debts | 44 | €19,760 | €19,746 | -€14 | -0.1% |
| Suppliers | 440/4 | €19,760 | €19,746 | -€14 | -0.1% |
| Taxes, remuneration and social security | 45 | €9,749 | €7,251 | -€2,498 | -25.6% |
| Taxes | 450/3 | €9,749 | €7,251 | -€2,498 | -25.6% |
| Other amounts payable | 47/48 | €32,539 | €191,951 | +€159,412 | +489.9% |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Non-recurring operating income | 76A | €5,000 | €14,913 | +€9,913 | +198.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,102 | €11,105 | -€997 | -8.2% |
| Other operating charges | 640/8 | €4,946 | €4,396 | -€550 | -11.1% |
| Gross operating margin | 9900 | €64,939 | €83,948 | +€19,009 | +29.3% |
| Operating profit (loss) | 9901 | €47,891 | €68,447 | +€20,556 | +42.9% |
| Financial income | 75/76B | €758 | €71 | -€686 | -90.6% |
| Recurring financial income | 75 | €758 | €71 | -€686 | -90.6% |
| Financial charges | 65/66B | €881 | €21,158 | +€20,277 | +2301.8% |
| Recurring financial charges | 65 | €881 | €1,764 | +€883 | +100.3% |
| Non-recurring financial charges | 66B | - | €19,394 | +€19,394 | |
| Profit (loss) for the period before taxes | 9903 | €47,768 | €47,361 | -€407 | -0.9% |
| Income taxes | 67/77 | €14,071 | €12,654 | -€1,417 | -10.1% |
| Profit (loss) for the period | 9904 | €33,697 | €34,707 | +€1,010 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €33,697 | €34,707 | +€1,010 | +3.0% |
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 10 October 2026 via checked.be.