Tim Casier: what changed
Two fiscal 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.
Tim Casier
Largest movements
- Receivables within one year +€45,508
up €45,508 (+262.3%), from €17,349 to €62,857
of which Trade receivables: +€31,563
- Cash -€26,227
down €26,227 (-35.5%), from €73,813 to €47,586
mainly Receivables within one year (-€45,508) and Contributions, distributions and other (-€10,000)
- Tangible fixed assets +€6,700
up €6,700 (+96.0%), from €6,982 to €13,682
of which Plant, machinery and equipment: +€4,861
- Trade debts +€12,997
up €12,997 (+426.9%), from €3,045 to €16,042
- Other debts +€10,000
new in 2025: €10,000
- Tax, wage and social debts +€2,724
up €2,724 (+537.9%), from €506 to €3,231
- Gross operating margin -€34,736
down €34,736 (-61.5%), from €56,458 to €21,722
- Taxes -€10,531
down €10,531 (-67.9%), from €15,506 to €4,976
- Depreciation +€793
up €793 (+114.7%), from €692 to €1,485
- Financial charges -€582
down €582 (-15.1%), from €3,852 to €3,270
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 | €99,271 | €125,285 | +€26,015 | +26.2% |
| Fixed assets | 21/28 | €6,982 | €13,682 | +€6,700 | +96.0% |
| Tangible fixed assets | 22/27 | €6,982 | €13,682 | +€6,700 | +96.0% |
| Land and buildings | 22 | €6,982 | €8,821 | +€1,840 | +26.4% |
| Plant, machinery and equipment | 23 | - | €4,861 | +€4,861 | |
| Current assets | 29/58 | €92,289 | €111,604 | +€19,315 | +20.9% |
| Amounts receivable within one year | 40/41 | €17,349 | €62,857 | +€45,508 | +262.3% |
| Trade receivables | 40 | €12,533 | €44,096 | +€31,563 | +251.9% |
| Other amounts receivable | 41 | €4,817 | €18,761 | +€13,945 | +289.5% |
| Cash at bank and in hand | 54/58 | €73,813 | €47,586 | -€26,227 | -35.5% |
| Deferred charges and accrued income | 490/1 | €1,127 | €1,160 | +€33 | +3.0% |
| Total equity and liabilities | 10/49 | €99,271 | €125,285 | +€26,015 | +26.2% |
| Equity | 10/15 | €95,041 | €96,013 | +€972 | +1.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €90,041 | €91,013 | +€972 | +1.1% |
| Distributable reserves | 133 | €90,041 | €91,013 | +€972 | +1.1% |
| Amounts payable | 17/49 | €4,229 | €29,272 | +€25,043 | +592.1% |
| Amounts payable within one year | 42/48 | €3,551 | €29,272 | +€25,721 | +724.3% |
| Trade debts | 44 | €3,045 | €16,042 | +€12,997 | +426.9% |
| Suppliers | 440/4 | €3,045 | €16,042 | +€12,997 | +426.9% |
| Taxes, remuneration and social security | 45 | €506 | €3,231 | +€2,724 | +537.9% |
| Taxes | 450/3 | €506 | €3,231 | +€2,724 | +537.9% |
| Other amounts payable | 47/48 | - | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | €678 | - | -€678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €692 | €1,485 | +€793 | +114.7% |
| Other operating charges | 640/8 | €1,230 | €1,461 | +€231 | +18.8% |
| Gross operating margin | 9900 | €56,458 | €21,722 | -€34,736 | -61.5% |
| Operating profit (loss) | 9901 | €54,536 | €18,776 | -€35,759 | -65.6% |
| Financial income | 75/76B | - | €441 | +€441 | |
| Recurring financial income | 75 | - | €441 | +€441 | |
| Financial charges | 65/66B | €3,852 | €3,270 | -€582 | -15.1% |
| Recurring financial charges | 65 | €3,852 | €3,270 | -€582 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €50,684 | €15,948 | -€34,736 | -68.5% |
| Income taxes | 67/77 | €15,506 | €4,976 | -€10,531 | -67.9% |
| Profit (loss) for the period | 9904 | €35,177 | €10,972 | -€24,205 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,177 | €10,972 | -€24,205 | -68.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.