TIM VAN LAERE GALLERY: 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.
What changed
TIM VAN LAERE GALLERY
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €3.4m-€2.1m
Equity
€15.3m
2024 · €14.9m+€346,764
Cash
€2.8m
2024 · €3.4m-€609,861
Balance sheet total
€15.9m
2024 · €15.7m+€170,704
Largest movements
Assets
- Stocks and contracts +€887,849
up €887,849 (+10.9%), from €8.1m to €9.0m
- Cash -€609,861
down €609,861 (-17.8%), from €3.4m to €2.8m
mainly Contributions, distributions and other (-€1.0m) and Stocks and contracts (-€887,849)
Equity and liabilities
- Profit (loss) carried forward +€1.4m
up €1.4m (+40.0%), from €3.4m to €4.8m
- Reserves -€1.0m
down €1.0m (-8.9%), from €11.4m to €10.4m
of which Distributable reserves: -€1.0m
- Trade debts -€158,899
down €158,899 (-32.0%), from €496,799 to €337,901
Income statement
- Turnover -€5.8m
down €5.8m (-45.9%), from €12.7m to €6.8m
- Goods and materials -€3.0m
down €3.0m (-57.0%), from €5.2m to €2.2m
of which Purchases: -€3.6m
- Taxes -€737,172
down €737,172 (-58.3%), from €1.3m to €527,669
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.
Result 2024
€3.4m
Turnover
-€5.8m
Other operating income
+€6,249
Goods and materials
+€3.0m
Services and other goods
+€47,607
Staff costs
-€728
Depreciation
-€393
Other operating charges
+€4,875
Financial income
+€105,432
Financial charges
-€87,197
Taxes
+€737,172
Result 2025
€1.4m
raises the resultlowers the result
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.
From operations
+€613,976
Investment
-€174,528
Financing
-€1.0m
Cash 2024
€3.4m
From operations (derived)
+€613,976
Net result for the year
+€1.4m
Depreciation
+€154,426
Receivables after one year
+€50,000
Stocks and contracts
-€887,849
Receivables within one year
-€35,904
Deferred charges and accrued income
+€113,290
Provisions
-€8,316
Trade debts
-€158,899
Tax, wage and social debts
+€1,579
Accrued charges and deferred income
-€10,425
Investment (derived)
-€174,528
Investment in fixed assets (net)
-€91,102
Current investments
-€83,426
Financing
-€1.0m
Contributions, distributions and other
-€1.0m
Cash 2025
€2.8m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,694,402 | €15,865,106 | +€170,704 | +1.1% |
| Fixed assets | 21/28 | €2,023,855 | €1,960,531 | -€63,324 | -3.1% |
| Intangible fixed assets | 21 | - | €8,782 | +€8,782 | |
| Tangible fixed assets | 22/27 | €1,990,871 | €1,918,765 | -€72,106 | -3.6% |
| Land and buildings | 22 | €1,874,927 | €1,820,027 | -€54,900 | -2.9% |
| Plant, machinery and equipment | 23 | €26,660 | €18,179 | -€8,480 | -31.8% |
| Furniture and vehicles | 24 | €19,554 | €20,407 | +€853 | +4.4% |
| Other tangible fixed assets | 26 | €69,731 | €60,152 | -€9,579 | -13.7% |
| Financial fixed assets | 28 | €32,984 | €32,984 | = | 0.0% |
| Other financial fixed assets | 284/8 | €32,984 | €32,984 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €32,984 | €32,984 | = | 0.0% |
| Current assets | 29/58 | €13,670,547 | €13,904,575 | +€234,028 | +1.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €0 | -€50,000 | -100% |
| Other amounts receivable | 291 | €50,000 | €0 | -€50,000 | -100% |
| Stocks and contracts in progress | 3 | €8,125,616 | €9,013,465 | +€887,849 | +10.9% |
| Stocks | 30/36 | €8,125,616 | €9,013,465 | +€887,849 | +10.9% |
| Goods purchased for resale | 34 | €8,125,616 | €9,013,465 | +€887,849 | +10.9% |
| Amounts receivable within one year | 40/41 | €1,467,011 | €1,502,916 | +€35,904 | +2.4% |
| Trade receivables | 40 | €959,169 | €858,524 | -€100,644 | -10.5% |
| Other amounts receivable | 41 | €507,843 | €644,391 | +€136,549 | +26.9% |
| Current investments | 50/53 | €409,438 | €492,864 | +€83,426 | +20.4% |
| Other investments | 51/53 | €409,438 | €492,864 | +€83,426 | +20.4% |
| Cash at bank and in hand | 54/58 | €3,429,654 | €2,819,793 | -€609,861 | -17.8% |
| Deferred charges and accrued income | 490/1 | €188,828 | €75,537 | -€113,290 | -60.0% |
| Total equity and liabilities | 10/49 | €15,694,402 | €15,865,106 | +€170,704 | +1.1% |
| Equity | 10/15 | €14,932,531 | €15,279,295 | +€346,764 | +2.3% |
| Contributions | 10/11 | €66,882 | €66,882 | = | 0.0% |
| Capital | 10 | €66,882 | €66,882 | = | 0.0% |
| Issued capital | 100 | €66,882 | €66,882 | = | 0.0% |
| Reserves | 13 | €11,447,557 | €10,428,766 | -€1.0m | -8.9% |
| Non-distributable reserves | 130/1 | €6,688 | €6,688 | = | 0.0% |
| Legal reserve | 130 | €6,688 | €6,688 | = | 0.0% |
| Tax-exempt reserves | 132 | €256,673 | €237,882 | -€18,791 | -7.3% |
| Distributable reserves | 133 | €11,184,196 | €10,184,196 | -€1.0m | -8.9% |
| Profit (loss) carried forward | 14 | €3,418,091 | €4,783,646 | +€1.4m | +40.0% |
| Provisions and deferred taxes | 16 | €104,447 | €96,131 | -€8,316 | -8.0% |
| Deferred taxes | 168 | €104,447 | €96,131 | -€8,316 | -8.0% |
| Amounts payable | 17/49 | €657,425 | €489,681 | -€167,744 | -25.5% |
| Amounts payable within one year | 42/48 | €647,000 | €489,681 | -€157,319 | -24.3% |
| Trade debts | 44 | €496,799 | €337,901 | -€158,899 | -32.0% |
| Suppliers | 440/4 | €496,799 | €337,901 | -€158,899 | -32.0% |
| Taxes, remuneration and social security | 45 | €149,415 | €150,994 | +€1,579 | +1.1% |
| Taxes | 450/3 | €90,612 | €66,014 | -€24,597 | -27.1% |
| Remuneration and social security | 454/9 | €58,803 | €84,980 | +€26,177 | +44.5% |
| Other amounts payable | 47/48 | €786 | €786 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,425 | €0 | -€10,425 | -100% |
| Operating income | 70/76A | €12,680,490 | €6,868,766 | -€5.8m | -45.8% |
| Turnover | 70 | €12,663,593 | €6,845,620 | -€5.8m | -45.9% |
| Other operating income | 74 | €16,897 | €23,146 | +€6,249 | +37.0% |
| Operating charges | 60/66A | €7,980,081 | €4,975,839 | -€3.0m | -37.6% |
| Goods for resale, raw materials and consumables | 60 | €5,184,335 | €2,231,454 | -€3.0m | -57.0% |
| Purchases | 600/8 | €6,719,138 | €3,119,303 | -€3.6m | -53.6% |
| Change in stocks: decrease (increase) | 609 | -€1,534,803 | -€887,849 | +€646,953 | +42.2% |
| Services and other goods | 61 | €2,182,689 | €2,135,083 | -€47,607 | -2.2% |
| Remuneration, social security and pensions | 62 | €440,369 | €441,097 | +€728 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,033 | €154,426 | +€393 | +0.3% |
| Other operating charges | 640/8 | €18,655 | €13,779 | -€4,875 | -26.1% |
| Operating profit (loss) | 9901 | €4,700,409 | €1,892,927 | -€2.8m | -59.7% |
| Financial income | 75/76B | €30,632 | €136,065 | +€105,432 | +344% |
| Recurring financial income | 75 | €30,632 | €136,065 | +€105,432 | +344% |
| Income from current assets | 751 | €7,700 | €27,806 | +€20,106 | +261% |
| Other financial income | 752/9 | €22,933 | €108,258 | +€85,326 | +372% |
| Financial charges | 65/66B | €26,368 | €113,565 | +€87,197 | +331% |
| Recurring financial charges | 65 | €26,368 | €113,565 | +€87,197 | +331% |
| Debt charges | 650 | €91 | €87 | -€4 | -4.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €913 | +€913 | |
| Other financial charges | 652/9 | €26,278 | €112,565 | +€86,287 | +328% |
| Profit (loss) for the period before taxes | 9903 | €4,704,673 | €1,915,426 | -€2.8m | -59.3% |
| Transfer from deferred taxes | 780 | €8,316 | €8,316 | = | 0.0% |
| Income taxes | 67/77 | €1,264,841 | €527,669 | -€737,172 | -58.3% |
| Taxes | 670/3 | €1,264,841 | €527,669 | -€737,172 | -58.3% |
| Profit (loss) for the period | 9904 | €3,448,148 | €1,396,073 | -€2.1m | -59.5% |
| Transfer from tax-exempt reserves | 789 | €18,791 | €18,791 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,466,939 | €1,414,864 | -€2.1m | -59.2% |
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 28 October 2026 via checked.be.