TIM TAELMAN: 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 TAELMAN
Largest movements
- Cash +€47,689
up €47,689 (+35.1%), from €135,857 to €183,546
mainly Net result for the year (+€74,282) and Depreciation (+€60,226)
- Tangible fixed assets -€46,775
down €46,775 (-4.6%), from €1.0m to €965,148
of which Land and buildings: -€51,482
- Debts after one year -€45,845
down €45,845 (-6.4%), from €711,238 to €665,393
- Reserves +€44,282
up €44,282 (+11.6%), from €382,919 to €427,202
of which Distributable reserves: +€44,282
No income-statement line moved by more than 1% of the activity.
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 | €1,167,780 | €1,165,653 | -€2,127 | -0.2% |
| Fixed assets | 21/28 | €1,031,923 | €980,148 | -€51,775 | -5.0% |
| Intangible fixed assets | 21 | €20,000 | €15,000 | -€5,000 | -25.0% |
| Tangible fixed assets | 22/27 | €1,011,923 | €965,148 | -€46,775 | -4.6% |
| Land and buildings | 22 | €1,003,232 | €951,750 | -€51,482 | -5.1% |
| Plant, machinery and equipment | 23 | €8,691 | €13,398 | +€4,707 | +54.2% |
| Current assets | 29/58 | €135,857 | €185,505 | +€49,648 | +36.5% |
| Amounts receivable within one year | 40/41 | - | €1,377 | +€1,377 | |
| Other amounts receivable | 41 | - | €1,377 | +€1,377 | |
| Cash at bank and in hand | 54/58 | €135,857 | €183,546 | +€47,689 | +35.1% |
| Deferred charges and accrued income | 490/1 | - | €582 | +€582 | |
| Total equity and liabilities | 10/49 | €1,167,780 | €1,165,653 | -€2,127 | -0.2% |
| Equity | 10/15 | €401,519 | €445,802 | +€44,282 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €382,919 | €427,202 | +€44,282 | +11.6% |
| Tax-exempt reserves | 132 | €4,286 | €4,286 | = | 0.0% |
| Distributable reserves | 133 | €378,634 | €422,916 | +€44,282 | +11.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €766,261 | €719,852 | -€46,409 | -6.1% |
| Amounts payable after more than one year | 17 | €711,238 | €665,393 | -€45,845 | -6.4% |
| Financial debts | 170/4 | €711,238 | €665,393 | -€45,845 | -6.4% |
| Amounts payable within one year | 42/48 | €53,603 | €53,122 | -€480 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €48,557 | €49,621 | +€1,064 | +2.2% |
| Trade debts | 44 | €1,819 | €3,396 | +€1,577 | +86.7% |
| Suppliers | 440/4 | €1,819 | €3,396 | +€1,577 | +86.7% |
| Taxes, remuneration and social security | 45 | €3,151 | €0 | -€3,151 | -100% |
| Taxes | 450/3 | €3,151 | €0 | -€3,151 | -100% |
| Other amounts payable | 47/48 | €76 | €106 | +€30 | +39.7% |
| Accrued charges and deferred income | 492/3 | €1,420 | €1,336 | -€84 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,530 | €60,226 | +€1,696 | +2.9% |
| Other operating charges | 640/8 | €3,043 | €1,842 | -€1,202 | -39.5% |
| Gross operating margin | 9900 | €172,226 | €171,131 | -€1,095 | -0.6% |
| Operating profit (loss) | 9901 | €110,654 | €109,064 | -€1,590 | -1.4% |
| Financial income | 75/76B | €463 | €551 | +€88 | +19.1% |
| Recurring financial income | 75 | €463 | €551 | +€88 | +19.1% |
| Financial charges | 65/66B | €17,524 | €16,545 | -€979 | -5.6% |
| Recurring financial charges | 65 | €17,524 | €16,545 | -€979 | -5.6% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €93,593 | €93,070 | -€523 | -0.6% |
| Income taxes | 67/77 | €18,790 | €18,788 | -€2 | 0.0% |
| Profit (loss) for the period | 9904 | €74,802 | €74,282 | -€520 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,802 | €74,282 | -€520 | -0.7% |
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 25 October 2026 via checked.be.