Tim Renders: 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 Renders
Largest movements
- Current investments +€50,000
new in 2025: €50,000
- Cash -€25,962
down €25,962 (-26.0%), from €99,856 to €73,894
mainly Current investments (-€50,000) and Receivables within one year (-€15,242)
- Receivables within one year +€15,242
up €15,242 (+186.9%), from €8,154 to €23,395
of which Trade receivables: +€16,299
- Tangible fixed assets +€2,405
up €2,405, from €0 to €2,405
- Reserves +€42,231
up €42,231 (+49.1%), from €85,956 to €128,187
- Gross operating margin +€7,248
up €7,248 (+15.2%), from €47,624 to €54,872
- Depreciation -€2,576
down €2,576 (-99.1%), from €2,600 to €24
- Taxes +€1,688
up €1,688 (+18.4%), from €9,157 to €10,845
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 | €108,010 | €149,694 | +€41,685 | +38.6% |
| Fixed assets | 21/28 | €0 | €2,405 | +€2,405 | |
| Tangible fixed assets | 22/27 | €0 | €2,405 | +€2,405 | |
| Furniture and vehicles | 24 | €0 | €2,405 | +€2,405 | |
| Current assets | 29/58 | €108,010 | €147,290 | +€39,280 | +36.4% |
| Amounts receivable within one year | 40/41 | €8,154 | €23,395 | +€15,242 | +186.9% |
| Trade receivables | 40 | €5,481 | €21,780 | +€16,299 | +297.4% |
| Other amounts receivable | 41 | €2,673 | €1,615 | -€1,058 | -39.6% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €99,856 | €73,894 | -€25,962 | -26.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €108,010 | €149,694 | +€41,685 | +38.6% |
| Equity | 10/15 | €88,956 | €131,187 | +€42,231 | +47.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €85,956 | €128,187 | +€42,231 | +49.1% |
| Distributable reserves | 133 | €85,956 | €128,187 | +€42,231 | +49.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,053 | €18,507 | -€547 | -2.9% |
| Amounts payable within one year | 42/48 | €19,053 | €18,507 | -€547 | -2.9% |
| Trade debts | 44 | €46 | €303 | +€257 | +559.0% |
| Suppliers | 440/4 | €46 | €303 | +€257 | +559.0% |
| Taxes, remuneration and social security | 45 | €18,007 | €17,204 | -€804 | -4.5% |
| Taxes | 450/3 | €18,007 | €17,204 | -€804 | -4.5% |
| Other amounts payable | 47/48 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,600 | €24 | -€2,576 | -99.1% |
| Other operating charges | 640/8 | €566 | €625 | +€58 | +10.3% |
| Gross operating margin | 9900 | €47,624 | €54,872 | +€7,248 | +15.2% |
| Operating profit (loss) | 9901 | €44,458 | €54,223 | +€9,765 | +22.0% |
| Financial income | 75/76B | €64 | €0 | -€64 | -100.0% |
| Recurring financial income | 75 | €64 | €0 | -€64 | -100.0% |
| Financial charges | 65/66B | €130 | €146 | +€16 | +12.2% |
| Recurring financial charges | 65 | €130 | €146 | +€16 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €44,391 | €54,076 | +€9,686 | +21.8% |
| Income taxes | 67/77 | €9,157 | €10,845 | +€1,688 | +18.4% |
| Profit (loss) for the period | 9904 | €35,234 | €43,231 | +€7,997 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €35,234 | €43,231 | +€7,997 | +22.7% |
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 11 October 2026 via checked.be.