TIM SMET: 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 SMET
Largest movements
- Receivables within one year +€140,161
up €140,161 (+376.5%), from €37,230 to €177,392
of which Other amounts receivable: +€130,481
- Cash -€45,028
down €45,028 (-45.2%), from €99,663 to €54,635
mainly Receivables within one year (-€140,161) and Other debts (-€65,437)
- Financial fixed assets +€24,799
up €24,799 (+5.2%), from €478,022 to €502,821
- Deferred charges and accrued income +€12,539
up €12,539 (+484.5%), from €2,588 to €15,127
- Tangible fixed assets -€10,956
down €10,956 (-18.2%), from €60,062 to €49,106
of which Furniture and vehicles: -€11,824
- Reserves +€185,231
up €185,231 (+43.9%), from €422,351 to €607,582
- Other debts -€65,437
down €65,437 (-34.5%), from €189,461 to €124,024
- Financial income +€15,679
up €15,679 (+9.8%), from €159,533 to €175,211
of which Financial income: +€75,401
- Gross operating margin +€6,667
up €6,667 (+10.2%), from €65,524 to €72,191
- Taxes +€6,354
up €6,354 (+24.0%), from €26,439 to €32,793
- Financial charges -€1,401
down €1,401 (-10.9%), from €12,864 to €11,463
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 | €677,565 | €799,081 | +€121,516 | +17.9% |
| Fixed assets | 21/28 | €538,083 | €551,927 | +€13,843 | +2.6% |
| Tangible fixed assets | 22/27 | €60,062 | €49,106 | -€10,956 | -18.2% |
| Plant, machinery and equipment | 23 | €973 | €2,668 | +€1,695 | +174.2% |
| Furniture and vehicles | 24 | €46,131 | €34,306 | -€11,824 | -25.6% |
| Other tangible fixed assets | 26 | €12,958 | €12,132 | -€827 | -6.4% |
| Financial fixed assets | 28 | €478,022 | €502,821 | +€24,799 | +5.2% |
| Current assets | 29/58 | €139,481 | €247,154 | +€107,673 | +77.2% |
| Amounts receivable within one year | 40/41 | €37,230 | €177,392 | +€140,161 | +376.5% |
| Trade receivables | 40 | €11,858 | €21,538 | +€9,680 | +81.6% |
| Other amounts receivable | 41 | €25,372 | €155,854 | +€130,481 | +514.3% |
| Cash at bank and in hand | 54/58 | €99,663 | €54,635 | -€45,028 | -45.2% |
| Deferred charges and accrued income | 490/1 | €2,588 | €15,127 | +€12,539 | +484.5% |
| Total equity and liabilities | 10/49 | €677,565 | €799,081 | +€121,516 | +17.9% |
| Equity | 10/15 | €442,756 | €627,987 | +€185,231 | +41.8% |
| Contributions | 10/11 | €20,405 | €20,405 | = | 0.0% |
| Reserves | 13 | €422,351 | €607,582 | +€185,231 | +43.9% |
| Distributable reserves | 133 | €422,351 | €607,582 | +€185,231 | +43.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €234,809 | €171,094 | -€63,715 | -27.1% |
| Amounts payable within one year | 42/48 | €222,005 | €159,645 | -€62,360 | -28.1% |
| Trade debts | 44 | €2,207 | €5,675 | +€3,467 | +157.1% |
| Suppliers | 440/4 | €2,207 | €5,675 | +€3,467 | +157.1% |
| Taxes, remuneration and social security | 45 | €30,337 | €29,947 | -€390 | -1.3% |
| Taxes | 450/3 | €27,837 | €25,208 | -€2,628 | -9.4% |
| Remuneration and social security | 454/9 | €2,500 | €4,738 | +€2,238 | +89.5% |
| Other amounts payable | 47/48 | €189,461 | €124,024 | -€65,437 | -34.5% |
| Accrued charges and deferred income | 492/3 | €12,804 | €11,449 | -€1,355 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,564 | €16,895 | +€331 | +2.0% |
| Other operating charges | 640/8 | €1,076 | €1,021 | -€55 | -5.1% |
| Gross operating margin | 9900 | €65,524 | €72,191 | +€6,667 | +10.2% |
| Operating profit (loss) | 9901 | €47,884 | €54,276 | +€6,391 | +13.3% |
| Financial income | 75/76B | €159,533 | €175,211 | +€15,679 | +9.8% |
| Recurring financial income | 75 | €75,011 | €150,412 | +€75,401 | +100.5% |
| Non-recurring financial income | 76B | €84,522 | €24,799 | -€59,723 | -70.7% |
| Financial charges | 65/66B | €12,864 | €11,463 | -€1,401 | -10.9% |
| Recurring financial charges | 65 | €12,864 | €11,463 | -€1,401 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €194,553 | €218,024 | +€23,471 | +12.1% |
| Income taxes | 67/77 | €26,439 | €32,793 | +€6,354 | +24.0% |
| Profit (loss) for the period | 9904 | €168,114 | €185,231 | +€17,117 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €168,114 | €185,231 | +€17,117 | +10.2% |
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 9 October 2026 via checked.be.