Tim Vanpaeschen: 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 Vanpaeschen
Largest movements
- Cash +€11,129
up €11,129 (+178%), from €6,262 to €17,391
mainly Net result for the year (+€47,625) and Tax, wage and social debts (+€20,788)
- Receivables within one year +€6,275
up €6,275 (+8.9%), from €70,177 to €76,452
of which Other amounts receivable: +€5,249
- Tangible fixed assets -€4,061
down €4,061 (-31.0%), from €13,107 to €9,046
of which Furniture and vehicles: -€3,467
- Profit (loss) carried forward +€47,625
up €47,625 (+54.6%), from -€87,153 to -€39,528
- Other debts -€32,263
down €32,263 (-92.9%), from €34,713 to €2,450
- Debts after one year -€21,820
down €21,820 (-41.9%), from €52,034 to €30,214
- Tax, wage and social debts +€20,788
up €20,788 (+334%), from €6,230 to €27,018
- Accrued charges and deferred income -€3,255
down €3,255 (-37.3%), from €8,717 to €5,463
- Gross operating margin +€14,911
up €14,911 (+25.0%), from €59,579 to €74,490
- Taxes +€12,405
up €12,405 (+199%), from €6,230 to €18,635
- Staff costs -€11,133
no longer reported in 2025 (was €11,133)
- Depreciation -€1,282
down €1,282 (-31.9%), from €4,013 to €2,731
- Other operating charges +€1,229
up €1,229 (+154%), from €799 to €2,028
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 | €89,811 | €103,266 | +€13,455 | +15.0% |
| Fixed assets | 21/28 | €13,357 | €9,046 | -€4,311 | -32.3% |
| Tangible fixed assets | 22/27 | €13,107 | €9,046 | -€4,061 | -31.0% |
| Plant, machinery and equipment | 23 | €898 | €304 | -€594 | -66.1% |
| Furniture and vehicles | 24 | €12,208 | €8,742 | -€3,467 | -28.4% |
| Financial fixed assets | 28 | €250 | - | -€250 | |
| Current assets | 29/58 | €76,454 | €94,220 | +€17,765 | +23.2% |
| Amounts receivable within one year | 40/41 | €70,177 | €76,452 | +€6,275 | +8.9% |
| Trade receivables | 40 | €69,385 | €70,411 | +€1,026 | +1.5% |
| Other amounts receivable | 41 | €792 | €6,041 | +€5,249 | +663% |
| Cash at bank and in hand | 54/58 | €6,262 | €17,391 | +€11,129 | +178% |
| Deferred charges and accrued income | 490/1 | €15 | €376 | +€361 | +2,366% |
| Total equity and liabilities | 10/49 | €89,811 | €103,266 | +€13,455 | +15.0% |
| Equity | 10/15 | -€84,653 | -€37,028 | +€47,625 | +56.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€87,153 | -€39,528 | +€47,625 | +54.6% |
| Amounts payable | 17/49 | €174,464 | €140,294 | -€34,170 | -19.6% |
| Amounts payable after more than one year | 17 | €52,034 | €30,214 | -€21,820 | -41.9% |
| Financial debts | 170/4 | €52,034 | €30,214 | -€21,820 | -41.9% |
| Amounts payable within one year | 42/48 | €113,713 | €104,617 | -€9,096 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €21,601 | €21,820 | +€219 | +1.0% |
| Trade debts | 44 | €36,986 | €39,147 | +€2,161 | +5.8% |
| Suppliers | 440/4 | €36,986 | €39,147 | +€2,161 | +5.8% |
| Advances received on contracts in progress | 46 | €14,183 | €14,183 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,230 | €27,018 | +€20,788 | +334% |
| Taxes | 450/3 | €6,230 | €27,018 | +€20,788 | +334% |
| Other amounts payable | 47/48 | €34,713 | €2,450 | -€32,263 | -92.9% |
| Accrued charges and deferred income | 492/3 | €8,717 | €5,463 | -€3,255 | -37.3% |
| Remuneration, social security and pensions | 62 | €11,133 | - | -€11,133 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,013 | €2,731 | -€1,282 | -31.9% |
| Other operating charges | 640/8 | €799 | €2,028 | +€1,229 | +154% |
| Non-recurring operating charges | 66A | - | €1,558 | +€1,558 | |
| Gross operating margin | 9900 | €59,579 | €74,490 | +€14,911 | +25.0% |
| Operating profit (loss) | 9901 | €43,634 | €68,174 | +€24,540 | +56.2% |
| Financial income | 75/76B | €2 | €6 | +€4 | +161% |
| Recurring financial income | 75 | €2 | €6 | +€4 | +161% |
| Financial charges | 65/66B | €2,618 | €1,921 | -€698 | -26.6% |
| Recurring financial charges | 65 | €2,618 | €1,921 | -€698 | -26.6% |
| Profit (loss) for the period before taxes | 9903 | €41,018 | €66,259 | +€25,241 | +61.5% |
| Income taxes | 67/77 | €6,230 | €18,635 | +€12,405 | +199% |
| Profit (loss) for the period | 9904 | €34,788 | €47,625 | +€12,837 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,788 | €47,625 | +€12,837 | +36.9% |
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 23 October 2026 via checked.be.