TIM VAN SANT: 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 VAN SANT
Largest movements
- Tangible fixed assets +€27,108
up €27,108 (+12.8%), from €211,132 to €238,239
of which Other tangible fixed assets: +€29,352
- Receivables within one year +€18,952
up €18,952 (+1775.7%), from €1,067 to €20,019
of which Trade receivables: +€19,039
- Cash +€10,981
up €10,981 (+80.2%), from €13,689 to €24,670
mainly Net result for the year (+€54,151) and Debts after one year (+€38,420)
- Debts after one year +€38,420
up €38,420 (+28.5%), from €135,044 to €173,465
- Reserves -€13,331
down €13,331 (-87.8%), from €15,186 to €1,855
of which Distributable reserves: -€13,331
- Current portion of long-term debt +€13,206
up €13,206 (+90.9%), from €14,526 to €27,732
- Tax, wage and social debts +€10,690
up €10,690 (+29.2%), from €36,550 to €47,240
- Other debts +€7,271
up €7,271 (+249.7%), from €2,912 to €10,183
- Gross operating margin +€83,649
up €83,649 (+350.3%), from €23,878 to €107,527
- Taxes +€15,555
up €15,555 (+241.8%), from €6,433 to €21,988
- Financial charges +€3,677
up €3,677 (+55.1%), from €6,668 to €10,345
- Depreciation +€2,403
up €2,403 (+15.5%), from €15,547 to €17,950
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 | €226,126 | €285,933 | +€59,807 | +26.4% |
| Fixed assets | 21/28 | €211,132 | €238,239 | +€27,108 | +12.8% |
| Tangible fixed assets | 22/27 | €211,132 | €238,239 | +€27,108 | +12.8% |
| Land and buildings | 22 | €187,166 | €180,927 | -€6,239 | -3.3% |
| Plant, machinery and equipment | 23 | €2,302 | €2,600 | +€298 | +12.9% |
| Furniture and vehicles | 24 | €203 | €3,900 | +€3,697 | +1817.6% |
| Other tangible fixed assets | 26 | €21,460 | €50,812 | +€29,352 | +136.8% |
| Current assets | 29/58 | €14,994 | €47,693 | +€32,699 | +218.1% |
| Amounts receivable within one year | 40/41 | €1,067 | €20,019 | +€18,952 | +1775.7% |
| Trade receivables | 40 | €980 | €20,019 | +€19,039 | +1942.5% |
| Other amounts receivable | 41 | €87 | - | -€87 | |
| Cash at bank and in hand | 54/58 | €13,689 | €24,670 | +€10,981 | +80.2% |
| Deferred charges and accrued income | 490/1 | €238 | €3,004 | +€2,766 | +1162.2% |
| Total equity and liabilities | 10/49 | €226,126 | €285,933 | +€59,807 | +26.4% |
| Equity | 10/15 | €33,736 | €20,405 | -€13,331 | -39.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €15,186 | €1,855 | -€13,331 | -87.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €13,331 | - | -€13,331 | |
| Amounts payable | 17/49 | €192,390 | €265,528 | +€73,138 | +38.0% |
| Amounts payable after more than one year | 17 | €135,044 | €173,465 | +€38,420 | +28.5% |
| Financial debts | 170/4 | €135,044 | €173,465 | +€38,420 | +28.5% |
| Amounts payable within one year | 42/48 | €56,146 | €90,563 | +€34,417 | +61.3% |
| Current portion of amounts payable after more than one year | 42 | €14,526 | €27,732 | +€13,206 | +90.9% |
| Trade debts | 44 | €2,158 | €5,408 | +€3,250 | +150.6% |
| Suppliers | 440/4 | €2,158 | €5,408 | +€3,250 | +150.6% |
| Taxes, remuneration and social security | 45 | €36,550 | €47,240 | +€10,690 | +29.2% |
| Taxes | 450/3 | €36,550 | €47,240 | +€10,690 | +29.2% |
| Other amounts payable | 47/48 | €2,912 | €10,183 | +€7,271 | +249.7% |
| Accrued charges and deferred income | 492/3 | €1,200 | €1,500 | +€300 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,547 | €17,950 | +€2,403 | +15.5% |
| Other operating charges | 640/8 | €2,290 | €3,093 | +€802 | +35.0% |
| Gross operating margin | 9900 | €23,878 | €107,527 | +€83,649 | +350.3% |
| Operating profit (loss) | 9901 | €6,040 | €86,484 | +€80,443 | +1331.8% |
| Financial charges | 65/66B | €6,668 | €10,345 | +€3,677 | +55.1% |
| Recurring financial charges | 65 | €6,668 | €10,345 | +€3,677 | +55.1% |
| Profit (loss) for the period before taxes | 9903 | -€628 | €76,138 | +€76,766 | |
| Income taxes | 67/77 | €6,433 | €21,988 | +€15,555 | +241.8% |
| Profit (loss) for the period | 9904 | -€7,061 | €54,151 | +€61,212 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,061 | €54,151 | +€61,212 |
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 5 October 2026 via checked.be.