TIEMAC: 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.
TIEMAC
Largest movements
- Receivables within one year +€2.0m
up €2.0m (+142.4%), from €1.4m to €3.3m
of which Other amounts receivable: +€2.0m
- Cash -€282,885
down €282,885 (-50.2%), from €563,903 to €281,018
mainly Receivables within one year (-€2.0m) and Debts after one year (-€512,638)
- Tangible fixed assets -€253,895
down €253,895 (-3.1%), from €8.1m to €7.8m
of which Land and buildings: -€143,439
- Reserves +€1.6m
up €1.6m (+47.1%), from €3.4m to €5.1m
of which Distributable reserves: +€1.6m
- Debts after one year -€512,638
down €512,638 (-9.5%), from €5.4m to €4.9m
- Accrued charges and deferred income +€223,658
up €223,658 (+758.0%), from €29,505 to €253,162
- Gross operating margin +€1.2m
up €1.2m (+49.3%), from €2.3m to €3.5m
- Taxes +€368,186
up €368,186 (+86.2%), from €427,017 to €795,203
- Staff costs +€136,964
up €136,964 (+27.9%), from €490,717 to €627,681
- Financial income +€44,996
up €44,996 (+130.5%), from €34,476 to €79,472
- Depreciation +€36,681
up €36,681 (+10.7%), from €344,005 to €380,686
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 | €10,039,983 | €11,430,155 | +€1.4m | +13.8% |
| Fixed assets | 21/28 | €8,074,457 | €7,820,562 | -€253,895 | -3.1% |
| Tangible fixed assets | 22/27 | €8,074,457 | €7,820,562 | -€253,895 | -3.1% |
| Land and buildings | 22 | €7,542,529 | €7,399,090 | -€143,439 | -1.9% |
| Plant, machinery and equipment | 23 | €425,075 | €344,408 | -€80,667 | -19.0% |
| Furniture and vehicles | 24 | €106,853 | €77,064 | -€29,789 | -27.9% |
| Current assets | 29/58 | €1,965,526 | €3,609,593 | +€1.6m | +83.6% |
| Amounts receivable within one year | 40/41 | €1,373,395 | €3,328,475 | +€2.0m | +142.4% |
| Trade receivables | 40 | €436,094 | €353,412 | -€82,682 | -19.0% |
| Other amounts receivable | 41 | €937,301 | €2,975,064 | +€2.0m | +217.4% |
| Cash at bank and in hand | 54/58 | €563,903 | €281,018 | -€282,885 | -50.2% |
| Deferred charges and accrued income | 490/1 | €28,228 | €100 | -€28,128 | -99.6% |
| Total equity and liabilities | 10/49 | €10,039,983 | €11,430,155 | +€1.4m | +13.8% |
| Equity | 10/15 | €3,453,289 | €5,072,255 | +€1.6m | +46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,434,689 | €5,053,655 | +€1.6m | +47.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,223,781 | €1,238,271 | +€14,490 | +1.2% |
| Distributable reserves | 133 | €2,209,047 | €3,813,524 | +€1.6m | +72.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,586,695 | €6,357,900 | -€228,795 | -3.5% |
| Amounts payable after more than one year | 17 | €5,416,399 | €4,903,762 | -€512,638 | -9.5% |
| Financial debts | 170/4 | €5,416,399 | €4,903,762 | -€512,638 | -9.5% |
| Amounts payable within one year | 42/48 | €1,140,791 | €1,200,976 | +€60,185 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €500,529 | €505,000 | +€4,470 | +0.9% |
| Financial debts | 43 | - | €69,625 | +€69,625 | |
| Credit institutions | 430/8 | - | €69,625 | +€69,625 | |
| Trade debts | 44 | €126,242 | €66,356 | -€59,886 | -47.4% |
| Suppliers | 440/4 | €126,242 | €66,356 | -€59,886 | -47.4% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €424,898 | €398,722 | -€26,175 | -6.2% |
| Taxes | 450/3 | €355,842 | €307,240 | -€48,602 | -13.7% |
| Remuneration and social security | 454/9 | €69,055 | €91,482 | +€22,427 | +32.5% |
| Other amounts payable | 47/48 | €89,122 | €161,272 | +€72,150 | +81.0% |
| Accrued charges and deferred income | 492/3 | €29,505 | €253,162 | +€223,658 | +758.0% |
| Remuneration, social security and pensions | 62 | €490,717 | €627,681 | +€136,964 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €344,005 | €380,686 | +€36,681 | +10.7% |
| Other operating charges | 640/8 | €31,179 | €25,450 | -€5,729 | -18.4% |
| Gross operating margin | 9900 | €2,337,110 | €3,489,309 | +€1.2m | +49.3% |
| Operating profit (loss) | 9901 | €1,471,209 | €2,455,492 | +€984,283 | +66.9% |
| Financial income | 75/76B | €34,476 | €79,472 | +€44,996 | +130.5% |
| Recurring financial income | 75 | €34,476 | €79,472 | +€44,996 | +130.5% |
| Financial charges | 65/66B | €98,633 | €106,019 | +€7,386 | +7.5% |
| Recurring financial charges | 65 | €98,633 | €106,019 | +€7,386 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €1,407,052 | €2,428,945 | +€1.0m | +72.6% |
| Income taxes | 67/77 | €427,017 | €795,203 | +€368,186 | +86.2% |
| Profit (loss) for the period | 9904 | €980,035 | €1,633,742 | +€653,707 | +66.7% |
| Transfer to tax-exempt reserves | 689 | €15,339 | €14,490 | -€850 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €964,695 | €1,619,252 | +€654,557 | +67.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.