TIM SMITS: what changed
TIM SMITS
Largest movements
- Cash +€15,691
up €15,691 (+60.4%), from €25,970 to €41,661
mainly Net result for the year (+€25,917) and Depreciation (+€12,662)
- Current investments +€11,999
up €11,999 (+13.3%), from €90,000 to €101,999
- Tangible fixed assets -€11,225
down €11,225 (-23.8%), from €47,214 to €35,989
of which Furniture and vehicles: -€9,391
- Receivables within one year -€10,807
down €10,807 (-32.7%), from €33,094 to €22,287
of which Trade receivables: -€19,300
- Reserves +€25,917
up €25,917 (+18.2%), from €142,300 to €168,217
- Tax, wage and social debts -€17,850
down €17,850 (-72.3%), from €24,702 to €6,852
- Other debts -€2,688
down €2,688 (-20.6%), from €13,072 to €10,384
- Gross operating margin -€41,894
down €41,894 (-46.7%), from €89,788 to €47,894
- Taxes -€9,000
down €9,000 (-52.9%), from €17,007 to €8,007
- Depreciation +€3,805
up €3,805 (+43.0%), from €8,857 to €12,662
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,383 | €205,744 | +€5,361 | +2.7% |
| Fixed assets | 21/28 | €47,214 | €35,989 | -€11,225 | -23.8% |
| Tangible fixed assets | 22/27 | €47,214 | €35,989 | -€11,225 | -23.8% |
| Land and buildings | 22 | €11,494 | €9,919 | -€1,574 | -13.7% |
| Plant, machinery and equipment | 23 | €259 | - | -€259 | |
| Furniture and vehicles | 24 | €35,461 | €26,070 | -€9,391 | -26.5% |
| Current assets | 29/58 | €153,170 | €169,755 | +€16,586 | +10.8% |
| Amounts receivable within one year | 40/41 | €33,094 | €22,287 | -€10,807 | -32.7% |
| Trade receivables | 40 | €33,094 | €13,794 | -€19,300 | -58.3% |
| Other amounts receivable | 41 | - | €8,493 | +€8,493 | |
| Current investments | 50/53 | €90,000 | €101,999 | +€11,999 | +13.3% |
| Cash at bank and in hand | 54/58 | €25,970 | €41,661 | +€15,691 | +60.4% |
| Deferred charges and accrued income | 490/1 | €4,106 | €3,809 | -€297 | -7.2% |
| Total equity and liabilities | 10/49 | €200,383 | €205,744 | +€5,361 | +2.7% |
| Equity | 10/15 | €160,900 | €186,817 | +€25,917 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,300 | €168,217 | +€25,917 | +18.2% |
| Distributable reserves | 133 | €142,300 | €168,217 | +€25,917 | +18.2% |
| Amounts payable | 17/49 | €39,484 | €18,928 | -€20,556 | -52.1% |
| Amounts payable within one year | 42/48 | €39,328 | €18,928 | -€20,400 | -51.9% |
| Trade debts | 44 | €1,554 | €1,692 | +€138 | +8.9% |
| Suppliers | 440/4 | €1,554 | €1,692 | +€138 | +8.9% |
| Taxes, remuneration and social security | 45 | €24,702 | €6,852 | -€17,850 | -72.3% |
| Taxes | 450/3 | €24,702 | €6,852 | -€17,850 | -72.3% |
| Other amounts payable | 47/48 | €13,072 | €10,384 | -€2,688 | -20.6% |
| Accrued charges and deferred income | 492/3 | €156 | - | -€156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,857 | €12,662 | +€3,805 | +43.0% |
| Other operating charges | 640/8 | €1,436 | €1,209 | -€227 | -15.8% |
| Gross operating margin | 9900 | €89,788 | €47,894 | -€41,894 | -46.7% |
| Operating profit (loss) | 9901 | €79,495 | €34,023 | -€45,472 | -57.2% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €270 | €107 | -€163 | -60.3% |
| Recurring financial charges | 65 | €270 | €107 | -€163 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | €79,224 | €33,925 | -€45,300 | -57.2% |
| Income taxes | 67/77 | €17,007 | €8,007 | -€9,000 | -52.9% |
| Profit (loss) for the period | 9904 | €62,217 | €25,917 | -€36,299 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,217 | €25,917 | -€36,299 | -58.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.