TIM TAM: what changed
Two fiscal 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 TAM
Largest movements
- Stocks and contracts +€55,679
up €55,679 (+20.9%), from €266,440 to €322,119
- Cash -€42,056
down €42,056 (-52.3%), from €80,344 to €38,288
mainly Net result for the year (-€314,161) and Stocks and contracts (-€55,679)
- Tangible fixed assets -€35,018
down €35,018 (-19.8%), from €177,199 to €142,181
of which Plant, machinery and equipment: -€20,114
- Receivables within one year +€28,992
up €28,992 (+45.7%), from €63,396 to €92,388
of which Trade receivables: +€28,872
- Deferred charges and accrued income +€11,350
up €11,350 (+22.3%), from €50,810 to €62,160
- Other debts +€374,229
up €374,229 (+128.3%), from €291,667 to €665,896
- Profit (loss) carried forward -€314,161
down €314,161 (-69.5%), from -€451,758 to -€765,919
- Debts after one year -€33,750
down €33,750 (-100.0%), from €33,750 to €0
- Current portion of long-term debt -€33,750
down €33,750 (-50.0%), from €67,500 to €33,750
- Trade debts +€15,220
up €15,220 (+7.4%), from €205,937 to €221,157
- Staff costs +€56,952
up €56,952 (+9.0%), from €636,035 to €692,987
- Gross operating margin +€17,878
up €17,878 (+4.0%), from €447,623 to €465,501
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 | €723,289 | €751,496 | +€28,207 | +3.9% |
| Fixed assets | 21/28 | €177,199 | €149,441 | -€27,758 | -15.7% |
| Tangible fixed assets | 22/27 | €177,199 | €142,181 | -€35,018 | -19.8% |
| Plant, machinery and equipment | 23 | €128,878 | €108,764 | -€20,114 | -15.6% |
| Furniture and vehicles | 24 | €31,621 | €25,337 | -€6,284 | -19.9% |
| Other tangible fixed assets | 26 | €16,701 | €8,081 | -€8,620 | -51.6% |
| Financial fixed assets | 28 | - | €7,260 | +€7,260 | |
| Current assets | 29/58 | €546,090 | €602,056 | +€55,966 | +10.2% |
| Stocks and contracts in progress | 3 | €266,440 | €322,119 | +€55,679 | +20.9% |
| Stocks | 30/36 | €266,440 | €322,119 | +€55,679 | +20.9% |
| Amounts receivable within one year | 40/41 | €63,396 | €92,388 | +€28,992 | +45.7% |
| Trade receivables | 40 | €63,027 | €91,899 | +€28,872 | +45.8% |
| Other amounts receivable | 41 | €369 | €489 | +€120 | +32.6% |
| Current investments | 50/53 | €85,100 | €87,101 | +€2,001 | +2.4% |
| Cash at bank and in hand | 54/58 | €80,344 | €38,288 | -€42,056 | -52.3% |
| Deferred charges and accrued income | 490/1 | €50,810 | €62,160 | +€11,350 | +22.3% |
| Total equity and liabilities | 10/49 | €723,289 | €751,496 | +€28,207 | +3.9% |
| Equity | 10/15 | €18,242 | -€295,919 | -€314,161 | |
| Contributions | 10/11 | €470,000 | €470,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€451,758 | -€765,919 | -€314,161 | -69.5% |
| Amounts payable | 17/49 | €705,047 | €1,047,416 | +€342,368 | +48.6% |
| Amounts payable after more than one year | 17 | €33,750 | €0 | -€33,750 | -100.0% |
| Financial debts | 170/4 | €33,750 | €0 | -€33,750 | -100.0% |
| Amounts payable within one year | 42/48 | €654,033 | €1,031,020 | +€376,987 | +57.6% |
| Current portion of amounts payable after more than one year | 42 | €67,500 | €33,750 | -€33,750 | -50.0% |
| Trade debts | 44 | €205,937 | €221,157 | +€15,220 | +7.4% |
| Suppliers | 440/4 | €205,937 | €221,157 | +€15,220 | +7.4% |
| Advances received on contracts in progress | 46 | - | €8,878 | +€8,878 | |
| Taxes, remuneration and social security | 45 | €88,929 | €101,340 | +€12,411 | +14.0% |
| Taxes | 450/3 | €32,516 | €34,671 | +€2,156 | +6.6% |
| Remuneration and social security | 454/9 | €56,413 | €66,668 | +€10,255 | +18.2% |
| Other amounts payable | 47/48 | €291,667 | €665,896 | +€374,229 | +128.3% |
| Accrued charges and deferred income | 492/3 | €17,264 | €16,395 | -€869 | -5.0% |
| Remuneration, social security and pensions | 62 | €636,035 | €692,987 | +€56,952 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,613 | €35,018 | -€4,595 | -11.6% |
| Other operating charges | 640/8 | €44,732 | €43,941 | -€791 | -1.8% |
| Non-recurring operating charges | 66A | - | €11,835 | +€11,835 | |
| Gross operating margin | 9900 | €447,623 | €465,501 | +€17,878 | +4.0% |
| Operating profit (loss) | 9901 | -€272,758 | -€318,280 | -€45,522 | -16.7% |
| Financial income | 75/76B | €17,737 | €14,184 | -€3,553 | -20.0% |
| Recurring financial income | 75 | €17,737 | €14,184 | -€3,553 | -20.0% |
| Financial charges | 65/66B | €9,177 | €10,066 | +€889 | +9.7% |
| Recurring financial charges | 65 | €9,177 | €10,066 | +€889 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | -€264,198 | -€314,161 | -€49,964 | -18.9% |
| Income taxes | 67/77 | €153 | €0 | -€153 | -100.0% |
| Profit (loss) for the period | 9904 | -€264,350 | -€314,161 | -€49,811 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€264,350 | -€314,161 | -€49,811 | -18.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.