TIMAAN: 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.
TIMAAN
Largest movements
- Receivables within one year -€58,820
down €58,820 (-97.9%), from €60,065 to €1,245
of which Trade receivables: -€30,437
- Cash -€10,969
down €10,969 (-67.5%), from €16,250 to €5,281
mainly Other debts (-€67,724) and Debts after one year (-€15,696)
- Tangible fixed assets -€5,272
down €5,272 (-3.2%), from €165,550 to €160,278
of which Plant, machinery and equipment: -€2,838
- Other debts -€67,724
down €67,724 (-27.1%), from €250,193 to €182,469
- Debts after one year -€15,696
down €15,696 (-32.2%), from €48,724 to €33,028
- Profit (loss) carried forward +€7,709
up €7,709 (+8.1%), from -€95,170 to -€87,461
- Current portion of long-term debt +€2,688
up €2,688 (+20.3%), from €13,267 to €15,954
- Gross operating margin -€19,272
down €19,272 (-39.6%), from €48,705 to €29,433
- Depreciation -€1,767
down €1,767 (-9.2%), from €19,245 to €17,478
- Financial charges -€947
down €947 (-20.7%), from €4,576 to €3,629
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 | €243,800 | €168,740 | -€75,060 | -30.8% |
| Fixed assets | 21/28 | €165,550 | €160,278 | -€5,272 | -3.2% |
| Tangible fixed assets | 22/27 | €165,550 | €160,278 | -€5,272 | -3.2% |
| Land and buildings | 22 | €93,694 | €91,199 | -€2,495 | -2.7% |
| Plant, machinery and equipment | 23 | €70,699 | €67,861 | -€2,838 | -4.0% |
| Furniture and vehicles | 24 | €1,158 | €1,219 | +€61 | +5.2% |
| Current assets | 29/58 | €78,249 | €8,462 | -€69,788 | -89.2% |
| Amounts receivable within one year | 40/41 | €60,065 | €1,245 | -€58,820 | -97.9% |
| Trade receivables | 40 | €30,923 | €486 | -€30,437 | -98.4% |
| Other amounts receivable | 41 | €29,142 | €759 | -€28,383 | -97.4% |
| Cash at bank and in hand | 54/58 | €16,250 | €5,281 | -€10,969 | -67.5% |
| Deferred charges and accrued income | 490/1 | €1,934 | €1,936 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €243,800 | €168,740 | -€75,060 | -30.8% |
| Equity | 10/15 | -€75,970 | -€68,261 | +€7,709 | +10.1% |
| Contributions | 10/11 | €19,200 | €19,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,170 | -€87,461 | +€7,709 | +8.1% |
| Amounts payable | 17/49 | €319,770 | €237,001 | -€82,769 | -25.9% |
| Amounts payable after more than one year | 17 | €48,724 | €33,028 | -€15,696 | -32.2% |
| Financial debts | 170/4 | €48,724 | €33,028 | -€15,696 | -32.2% |
| Amounts payable within one year | 42/48 | €269,789 | €202,717 | -€67,072 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €13,267 | €15,954 | +€2,688 | +20.3% |
| Trade debts | 44 | €5,055 | €3,075 | -€1,981 | -39.2% |
| Suppliers | 440/4 | €5,055 | €3,075 | -€1,981 | -39.2% |
| Advances received on contracts in progress | 46 | €795 | €1,219 | +€424 | +53.3% |
| Taxes, remuneration and social security | 45 | €479 | - | -€479 | |
| Taxes | 450/3 | €479 | - | -€479 | |
| Other amounts payable | 47/48 | €250,193 | €182,469 | -€67,724 | -27.1% |
| Accrued charges and deferred income | 492/3 | €1,258 | €1,257 | -€1 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,245 | €17,478 | -€1,767 | -9.2% |
| Other operating charges | 640/8 | €673 | €687 | +€14 | +2.1% |
| Gross operating margin | 9900 | €48,705 | €29,433 | -€19,272 | -39.6% |
| Operating profit (loss) | 9901 | €28,788 | €11,268 | -€17,520 | -60.9% |
| Financial income | 75/76B | €518 | €71 | -€447 | -86.3% |
| Recurring financial income | 75 | €518 | €71 | -€447 | -86.3% |
| Financial charges | 65/66B | €4,576 | €3,629 | -€947 | -20.7% |
| Recurring financial charges | 65 | €4,576 | €3,629 | -€947 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €24,730 | €7,709 | -€17,020 | -68.8% |
| Income taxes | 67/77 | €13 | - | -€13 | |
| Profit (loss) for the period | 9904 | €24,717 | €7,709 | -€17,008 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,717 | €7,709 | -€17,008 | -68.8% |
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 6 October 2026 via checked.be.