TIM PASHUYSEN: 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 PASHUYSEN
Largest movements
- Cash -€422,143
down €422,143 (-88.2%), from €478,641 to €56,498
mainly Current investments (-€400,000) and Net result for the year (-€22,302)
- Current investments +€400,000
new in 2024: €400,000
- Tangible fixed assets -€21,356
down €21,356 (-18.9%), from €113,236 to €91,881
of which Furniture and vehicles: -€17,469
- Receivables within one year -€7,727
down €7,727 (-30.7%), from €25,135 to €17,408
of which Trade receivables: -€12,046
- Profit (loss) carried forward -€22,302
down €22,302 (-20.8%), from -€107,370 to -€129,672
- Trade debts -€12,072
down €12,072 (-92.8%), from €13,007 to €934
- Other debts -€8,860
down €8,860 (-15.4%), from €57,412 to €48,552
- Debts after one year -€7,482
down €7,482 (-26.8%), from €27,899 to €20,417
- Gross operating margin +€8,765
up €8,765 (+50.7%), from -€17,280 to -€8,515
- Financial income +€7,469
up €7,469 (+229%), from €3,256 to €10,725
- Depreciation -€2,702
down €2,702 (-11.2%), from €24,057 to €21,356
- Other operating charges -€367
down €367 (-29.8%), from €1,233 to €865
- Financial charges -€303
down €303 (-12.8%), from €2,362 to €2,059
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €618,165 | €567,442 | -€50,722 | -8.2% |
| Fixed assets | 21/28 | €113,236 | €91,881 | -€21,356 | -18.9% |
| Tangible fixed assets | 22/27 | €113,236 | €91,881 | -€21,356 | -18.9% |
| Land and buildings | 22 | €69,313 | €65,692 | -€3,621 | -5.2% |
| Plant, machinery and equipment | 23 | €1,991 | €1,725 | -€266 | -13.3% |
| Furniture and vehicles | 24 | €41,933 | €24,464 | -€17,469 | -41.7% |
| Current assets | 29/58 | €504,929 | €475,562 | -€29,367 | -5.8% |
| Amounts receivable within one year | 40/41 | €25,135 | €17,408 | -€7,727 | -30.7% |
| Trade receivables | 40 | €12,046 | - | -€12,046 | |
| Other amounts receivable | 41 | €13,090 | €17,408 | +€4,319 | +33.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €478,641 | €56,498 | -€422,143 | -88.2% |
| Deferred charges and accrued income | 490/1 | €1,152 | €1,655 | +€503 | +43.7% |
| Total equity and liabilities | 10/49 | €618,165 | €567,442 | -€50,722 | -8.2% |
| Equity | 10/15 | €511,630 | €489,328 | -€22,302 | -4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €606,600 | €606,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €604,740 | €606,600 | +€1,860 | +0.3% |
| Profit (loss) carried forward | 14 | -€107,370 | -€129,672 | -€22,302 | -20.8% |
| Amounts payable | 17/49 | €106,535 | €78,114 | -€28,421 | -26.7% |
| Amounts payable after more than one year | 17 | €27,899 | €20,417 | -€7,482 | -26.8% |
| Financial debts | 170/4 | €27,899 | €20,417 | -€7,482 | -26.8% |
| Amounts payable within one year | 42/48 | €77,906 | €56,968 | -€20,938 | -26.9% |
| Current portion of amounts payable after more than one year | 42 | €7,118 | €7,482 | +€363 | +5.1% |
| Trade debts | 44 | €13,007 | €934 | -€12,072 | -92.8% |
| Suppliers | 440/4 | €13,007 | €934 | -€12,072 | -92.8% |
| Taxes, remuneration and social security | 45 | €369 | - | -€369 | |
| Taxes | 450/3 | €369 | - | -€369 | |
| Other amounts payable | 47/48 | €57,412 | €48,552 | -€8,860 | -15.4% |
| Accrued charges and deferred income | 492/3 | €730 | €729 | -€1 | -0.1% |
| Non-recurring operating income | 76A | - | €2,681 | +€2,681 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,057 | €21,356 | -€2,702 | -11.2% |
| Other operating charges | 640/8 | €1,233 | €865 | -€367 | -29.8% |
| Gross operating margin | 9900 | -€17,280 | -€8,515 | +€8,765 | +50.7% |
| Operating profit (loss) | 9901 | -€42,570 | -€30,736 | +€11,834 | +27.8% |
| Financial income | 75/76B | €3,256 | €10,725 | +€7,469 | +229% |
| Recurring financial income | 75 | €3,256 | €10,725 | +€7,469 | +229% |
| Financial charges | 65/66B | €2,362 | €2,059 | -€303 | -12.8% |
| Recurring financial charges | 65 | €2,362 | €2,059 | -€303 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€41,677 | -€22,070 | +€19,607 | +47.0% |
| Income taxes | 67/77 | €231 | €231 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€41,909 | -€22,302 | +€19,607 | +46.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€41,909 | -€22,302 | +€19,607 | +46.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.