Tim Faes: 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.
Tim Faes
Largest movements
- Receivables within one year +€17,856
up €17,856 (+75.0%), from €23,821 to €41,677
of which Other amounts receivable: +€17,911
- Cash -€3,061
down €3,061 (-100%), from €3,061 to €0
mainly Receivables within one year (-€17,856) and Net result for the year (-€15,504)
- Stocks and contracts -€2,908
down €2,908 (-100%), from €2,908 to €0
- Tangible fixed assets +€2,630
up €2,630 (+56.1%), from €4,689 to €7,319
of which Furniture and vehicles: +€1,660
- Deferred charges and accrued income +€1,066
up €1,066 (+331%), from €322 to €1,388
- Short-term financial debts +€15,872
new in 2025: €15,872
- Reserves -€15,504
down €15,504 (-97.2%), from €15,951 to €447
- Trade debts +€14,896
up €14,896 (+209%), from €7,130 to €22,026
- Gross operating margin -€34,050
down €34,050, from €20,873 to -€13,177
- Taxes -€4,057
down €4,057 (-100%), from €4,057 to €0
- Depreciation +€1,137
up €1,137 (+365%), from €311 to €1,449
- Financial income +€970
up €970 (+616%), from €158 to €1,128
- Financial charges +€516
up €516 (+645,088%), from €0 to €516
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.
Derived cash bridge
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 | €34,800 | €50,384 | +€15,584 | +44.8% |
| Fixed assets | 21/28 | €4,689 | €7,319 | +€2,630 | +56.1% |
| Tangible fixed assets | 22/27 | €4,689 | €7,319 | +€2,630 | +56.1% |
| Plant, machinery and equipment | 23 | - | €970 | +€970 | |
| Furniture and vehicles | 24 | €4,689 | €6,349 | +€1,660 | +35.4% |
| Current assets | 29/58 | €30,112 | €43,065 | +€12,953 | +43.0% |
| Stocks and contracts in progress | 3 | €2,908 | €0 | -€2,908 | -100% |
| Stocks | 30/36 | €2,908 | €0 | -€2,908 | -100% |
| Amounts receivable within one year | 40/41 | €23,821 | €41,677 | +€17,856 | +75.0% |
| Trade receivables | 40 | €11,056 | €11,001 | -€55 | -0.5% |
| Other amounts receivable | 41 | €12,765 | €30,676 | +€17,911 | +140% |
| Cash at bank and in hand | 54/58 | €3,061 | €0 | -€3,061 | -100% |
| Deferred charges and accrued income | 490/1 | €322 | €1,388 | +€1,066 | +331% |
| Total equity and liabilities | 10/49 | €34,800 | €50,384 | +€15,584 | +44.8% |
| Equity | 10/15 | €20,951 | €5,447 | -€15,504 | -74.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,951 | €447 | -€15,504 | -97.2% |
| Distributable reserves | 133 | €15,951 | €447 | -€15,504 | -97.2% |
| Amounts payable | 17/49 | €13,849 | €44,937 | +€31,088 | +224% |
| Amounts payable within one year | 42/48 | €13,849 | €44,843 | +€30,994 | +224% |
| Financial debts | 43 | - | €15,872 | +€15,872 | |
| Credit institutions | 430/8 | - | €15,872 | +€15,872 | |
| Trade debts | 44 | €7,130 | €22,026 | +€14,896 | +209% |
| Suppliers | 440/4 | €7,130 | €22,026 | +€14,896 | +209% |
| Taxes, remuneration and social security | 45 | €6,719 | €6,946 | +€226 | +3.4% |
| Taxes | 450/3 | €6,719 | €4,930 | -€1,789 | -26.6% |
| Remuneration and social security | 454/9 | - | €2,015 | +€2,015 | |
| Accrued charges and deferred income | 492/3 | - | €93 | +€93 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311 | €1,449 | +€1,137 | +365% |
| Other operating charges | 640/8 | €711 | €884 | +€173 | +24.3% |
| Non-recurring operating charges | 66A | - | €606 | +€606 | |
| Gross operating margin | 9900 | €20,873 | -€13,177 | -€34,050 | |
| Operating profit (loss) | 9901 | €19,851 | -€16,116 | -€35,967 | |
| Financial income | 75/76B | €158 | €1,128 | +€970 | +616% |
| Recurring financial income | 75 | €158 | €1,128 | +€970 | +616% |
| Financial charges | 65/66B | €0 | €516 | +€516 | +645,088% |
| Recurring financial charges | 65 | €0 | €516 | +€516 | +645,088% |
| Profit (loss) for the period before taxes | 9903 | €20,008 | -€15,504 | -€35,512 | |
| Income taxes | 67/77 | €4,057 | €0 | -€4,057 | -100% |
| Profit (loss) for the period | 9904 | €15,951 | -€15,504 | -€31,455 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,951 | -€15,504 | -€31,455 |
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 14 October 2026 via checked.be.