Tim Express: 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 Express
Largest movements
- Tangible fixed assets -€61,333
down €61,333 (-52.7%), from €116,443 to €55,110
of which Land and buildings: -€34,026
- Receivables within one year +€21,276
up €21,276 (+19.4%), from €109,624 to €130,900
of which Other amounts receivable: +€32,055
- Cash -€19,641
down €19,641 (-22.3%), from €88,193 to €68,552
mainly Receivables within one year (-€21,276) and Net result for the year (-€20,843)
- Reserves -€20,843
down €20,843 (-10.9%), from €190,669 to €169,826
of which Tax-exempt reserves: -€17,990
- Debts after one year -€19,498
down €19,498 (-30.7%), from €63,498 to €44,000
- Current portion of long-term debt -€16,457
down €16,457 (-45.8%), from €35,955 to €19,498
- Tax, wage and social debts +€10,913
up €10,913 (+31.8%), from €34,362 to €45,275
of which Remuneration and social security: +€9,164
- Trade debts -€9,063
down €9,063 (-46.2%), from €19,625 to €10,562
- Gross operating margin -€89,778
down €89,778 (-32.5%), from €275,848 to €186,071
- Staff costs -€52,831
down €52,831 (-23.9%), from €220,850 to €168,019
- Depreciation -€17,603
down €17,603 (-31.9%), from €55,154 to €37,550
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 | €361,491 | €300,358 | -€61,133 | -16.9% |
| Fixed assets | 21/28 | €160,443 | €99,110 | -€61,333 | -38.2% |
| Tangible fixed assets | 22/27 | €116,443 | €55,110 | -€61,333 | -52.7% |
| Land and buildings | 22 | €34,026 | - | -€34,026 | |
| Plant, machinery and equipment | 23 | €3,664 | €2,748 | -€916 | -25.0% |
| Furniture and vehicles | 24 | €78,752 | €52,361 | -€26,391 | -33.5% |
| Financial fixed assets | 28 | €44,000 | €44,000 | = | 0.0% |
| Current assets | 29/58 | €201,048 | €201,248 | +€200 | +0.1% |
| Amounts receivable within one year | 40/41 | €109,624 | €130,900 | +€21,276 | +19.4% |
| Trade receivables | 40 | €106,887 | €96,108 | -€10,779 | -10.1% |
| Other amounts receivable | 41 | €2,738 | €34,793 | +€32,055 | +1170.9% |
| Cash at bank and in hand | 54/58 | €88,193 | €68,552 | -€19,641 | -22.3% |
| Deferred charges and accrued income | 490/1 | €3,231 | €1,796 | -€1,435 | -44.4% |
| Total equity and liabilities | 10/49 | €361,491 | €300,358 | -€61,133 | -16.9% |
| Equity | 10/15 | €201,866 | €181,023 | -€20,843 | -10.3% |
| Contributions | 10/11 | €11,197 | €11,197 | = | 0.0% |
| Reserves | 13 | €190,669 | €169,826 | -€20,843 | -10.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,990 | - | -€17,990 | |
| Distributable reserves | 133 | €170,820 | €167,966 | -€2,853 | -1.7% |
| Provisions and deferred taxes | 16 | €5,997 | - | -€5,997 | |
| Deferred taxes | 168 | €5,997 | - | -€5,997 | |
| Amounts payable | 17/49 | €153,628 | €119,335 | -€34,293 | -22.3% |
| Amounts payable after more than one year | 17 | €63,498 | €44,000 | -€19,498 | -30.7% |
| Financial debts | 170/4 | €63,498 | €44,000 | -€19,498 | -30.7% |
| Amounts payable within one year | 42/48 | €89,942 | €75,335 | -€14,607 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €35,955 | €19,498 | -€16,457 | -45.8% |
| Trade debts | 44 | €19,625 | €10,562 | -€9,063 | -46.2% |
| Suppliers | 440/4 | €19,625 | €10,562 | -€9,063 | -46.2% |
| Taxes, remuneration and social security | 45 | €34,362 | €45,275 | +€10,913 | +31.8% |
| Taxes | 450/3 | €14,388 | €16,137 | +€1,749 | +12.2% |
| Remuneration and social security | 454/9 | €19,974 | €29,138 | +€9,164 | +45.9% |
| Accrued charges and deferred income | 492/3 | €188 | - | -€188 | |
| Non-recurring operating income | 76A | €1,000 | - | -€1,000 | |
| Remuneration, social security and pensions | 62 | €220,850 | €168,019 | -€52,831 | -23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,154 | €37,550 | -€17,603 | -31.9% |
| Other operating charges | 640/8 | €4,573 | €5,277 | +€703 | +15.4% |
| Gross operating margin | 9900 | €275,848 | €186,071 | -€89,778 | -32.5% |
| Operating profit (loss) | 9901 | -€4,729 | -€24,775 | -€20,047 | -424.0% |
| Financial income | 75/76B | €204 | €100 | -€104 | -50.9% |
| Recurring financial income | 75 | €204 | €100 | -€104 | -50.9% |
| Financial charges | 65/66B | €3,032 | €1,975 | -€1,058 | -34.9% |
| Recurring financial charges | 65 | €3,032 | €1,975 | -€1,058 | -34.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,557 | -€26,650 | -€19,093 | -252.6% |
| Transfer from deferred taxes | 780 | €2,219 | €5,997 | +€3,778 | +170.3% |
| Income taxes | 67/77 | €1,096 | €190 | -€906 | -82.6% |
| Profit (loss) for the period | 9904 | -€6,435 | -€20,843 | -€14,409 | -223.9% |
| Transfer from tax-exempt reserves | 789 | €6,656 | €17,990 | +€11,334 | +170.3% |
| Profit (loss) for the period to be appropriated | 9905 | €222 | -€2,853 | -€3,075 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.