TIM JORDENS: 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 JORDENS
Largest movements
- Cash +€19,519
up €19,519 (+32.7%), from €59,750 to €79,269
mainly Net result for the year (+€26,514) and Receivables within one year (+€17,497)
- Receivables within one year -€17,497
down €17,497 (-52.1%), from €33,574 to €16,077
of which Trade receivables: -€17,497
- Current investments +€13,000
up €13,000 (+26.0%), from €50,000 to €63,000
- Tangible fixed assets -€9,453
down €9,453 (-32.4%), from €29,186 to €19,734
- Current portion of long-term debt -€13,200
down €13,200 (-91.7%), from €14,400 to €1,200
- Other debts +€13,078
up €13,078 (+466%), from €2,804 to €15,882
- Reserves +€9,681
up €9,681 (+7.4%), from €131,208 to €140,888
- Tax, wage and social debts -€2,396
down €2,396 (-20.9%), from €11,465 to €9,070
of which Remuneration and social security: -€4,500
- Gross operating margin -€6,171
down €6,171 (-11.3%), from €54,715 to €48,545
- Taxes -€1,701
down €1,701 (-13.5%), from €12,623 to €10,922
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 | €174,577 | €179,967 | +€5,390 | +3.1% |
| Fixed assets | 21/28 | €29,186 | €19,734 | -€9,453 | -32.4% |
| Tangible fixed assets | 22/27 | €29,186 | €19,734 | -€9,453 | -32.4% |
| Furniture and vehicles | 24 | €29,186 | €19,734 | -€9,453 | -32.4% |
| Current assets | 29/58 | €145,391 | €160,233 | +€14,842 | +10.2% |
| Amounts receivable within one year | 40/41 | €33,574 | €16,077 | -€17,497 | -52.1% |
| Trade receivables | 40 | €18,574 | €1,077 | -€17,497 | -94.2% |
| Other amounts receivable | 41 | €15,000 | €15,000 | = | 0.0% |
| Current investments | 50/53 | €50,000 | €63,000 | +€13,000 | +26.0% |
| Cash at bank and in hand | 54/58 | €59,750 | €79,269 | +€19,519 | +32.7% |
| Deferred charges and accrued income | 490/1 | €2,068 | €1,888 | -€180 | -8.7% |
| Total equity and liabilities | 10/49 | €174,577 | €179,967 | +€5,390 | +3.1% |
| Equity | 10/15 | €143,608 | €153,288 | +€9,681 | +6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €131,208 | €140,888 | +€9,681 | +7.4% |
| Distributable reserves | 133 | €131,208 | €140,888 | +€9,681 | +7.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €30,970 | €26,679 | -€4,291 | -13.9% |
| Amounts payable after more than one year | 17 | €1,200 | €0 | -€1,200 | -100% |
| Financial debts | 170/4 | €1,200 | €0 | -€1,200 | -100% |
| Amounts payable within one year | 42/48 | €29,297 | €26,252 | -€3,045 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €14,400 | €1,200 | -€13,200 | -91.7% |
| Trade debts | 44 | €628 | €101 | -€527 | -83.9% |
| Suppliers | 440/4 | €628 | €101 | -€527 | -83.9% |
| Taxes, remuneration and social security | 45 | €11,465 | €9,070 | -€2,396 | -20.9% |
| Taxes | 450/3 | €6,965 | €9,070 | +€2,104 | +30.2% |
| Remuneration and social security | 454/9 | €4,500 | €0 | -€4,500 | -100% |
| Other amounts payable | 47/48 | €2,804 | €15,882 | +€13,078 | +466% |
| Accrued charges and deferred income | 492/3 | €473 | €426 | -€46 | -9.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €2,148 | €2,148 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,453 | €9,453 | = | 0.0% |
| Other operating charges | 640/8 | €1,050 | €1,084 | +€34 | +3.2% |
| Gross operating margin | 9900 | €54,715 | €48,545 | -€6,171 | -11.3% |
| Operating profit (loss) | 9901 | €42,064 | €35,860 | -€6,204 | -14.7% |
| Financial income | 75/76B | €1,885 | €1,748 | -€137 | -7.3% |
| Recurring financial income | 75 | €1,885 | €1,748 | -€137 | -7.3% |
| Financial charges | 65/66B | €136 | €172 | +€36 | +26.8% |
| Recurring financial charges | 65 | €136 | €172 | +€36 | +26.8% |
| Profit (loss) for the period before taxes | 9903 | €43,814 | €37,436 | -€6,378 | -14.6% |
| Income taxes | 67/77 | €12,623 | €10,922 | -€1,701 | -13.5% |
| Profit (loss) for the period | 9904 | €31,190 | €26,514 | -€4,677 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,190 | €26,514 | -€4,677 | -15.0% |
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 26 October 2026 via checked.be.