TIMAJO: 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.
TIMAJO
Largest movements
- Tangible fixed assets -€17,375
down €17,375 (-4.3%), from €399,706 to €382,330
of which Land and buildings: -€11,655
- Profit (loss) carried forward -€25,316
down €25,316 (-17.9%), from -€141,177 to -€166,493
- Contributions +€12,395
up €12,395 (+200%), from €6,197 to €18,592
- Debts after one year -€12,395
down €12,395 (-10.3%), from €120,000 to €107,605
- Other debts +€8,459
up €8,459 (+135%), from €6,244 to €14,703
- Depreciation -€2,710
down €2,710 (-13.5%), from €20,086 to €17,375
- Staff costs -€794
down €794 (-28.4%), from €2,792 to €1,998
- Other operating charges +€314
up €314 (+14.6%), from €2,155 to €2,469
- Gross operating margin +€207
up €207 (+7.8%), from -€2,642 to -€2,435
- Financial charges +€44
up €44 (+3.7%), from €1,195 to €1,239
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €405,140 | €386,751 | -€18,389 | -4.5% |
| Fixed assets | 21/28 | €400,311 | €382,936 | -€17,375 | -4.3% |
| Tangible fixed assets | 22/27 | €399,706 | €382,330 | -€17,375 | -4.3% |
| Land and buildings | 22 | €352,559 | €340,904 | -€11,655 | -3.3% |
| Furniture and vehicles | 24 | €419 | €213 | -€205 | -49.1% |
| Other tangible fixed assets | 26 | €46,728 | €41,213 | -€5,515 | -11.8% |
| Financial fixed assets | 28 | €605 | €605 | = | 0.0% |
| Current assets | 29/58 | €4,829 | €3,815 | -€1,013 | -21.0% |
| Stocks and contracts in progress | 3 | €3,414 | €2,714 | -€700 | -20.5% |
| Stocks | 30/36 | €3,414 | €2,714 | -€700 | -20.5% |
| Amounts receivable within one year | 40/41 | €120 | €104 | -€16 | -13.3% |
| Other amounts receivable | 41 | €120 | €104 | -€16 | -13.3% |
| Deferred charges and accrued income | 490/1 | €1,295 | €997 | -€297 | -23.0% |
| Total equity and liabilities | 10/49 | €405,140 | €386,751 | -€18,389 | -4.5% |
| Equity | 10/15 | €265,925 | €252,871 | -€13,053 | -4.9% |
| Contributions | 10/11 | €6,197 | €18,592 | +€12,395 | +200% |
| Contributions outside capital | 11 | €6,197 | €18,592 | +€12,395 | +200% |
| Other | 1109/19 | €6,197 | €18,592 | +€12,395 | +200% |
| Revaluation surpluses | 12 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €904 | €772 | -€132 | -14.6% |
| Non-distributable reserves | 130/1 | €248 | €248 | = | 0.0% |
| Legal reserve | 130 | €248 | €248 | = | 0.0% |
| Tax-exempt reserves | 132 | €656 | €524 | -€132 | -20.2% |
| Profit (loss) carried forward | 14 | -€141,177 | -€166,493 | -€25,316 | -17.9% |
| Provisions and deferred taxes | 16 | €338 | €270 | -€68 | -20.2% |
| Deferred taxes | 168 | €338 | €270 | -€68 | -20.2% |
| Amounts payable | 17/49 | €138,877 | €133,610 | -€5,267 | -3.8% |
| Amounts payable after more than one year | 17 | €120,000 | €107,605 | -€12,395 | -10.3% |
| Other amounts payable | 178/9 | €120,000 | €107,605 | -€12,395 | -10.3% |
| Amounts payable within one year | 42/48 | €18,877 | €26,005 | +€7,127 | +37.8% |
| Financial debts | 43 | €4,038 | €3,795 | -€244 | -6.0% |
| Credit institutions | 430/8 | €4,038 | €3,795 | -€244 | -6.0% |
| Trade debts | 44 | €7,929 | €6,963 | -€966 | -12.2% |
| Suppliers | 440/4 | €7,929 | €6,963 | -€966 | -12.2% |
| Taxes, remuneration and social security | 45 | €666 | €545 | -€121 | -18.2% |
| Taxes | 450/3 | €666 | €545 | -€121 | -18.2% |
| Other amounts payable | 47/48 | €6,244 | €14,703 | +€8,459 | +135% |
| Remuneration, social security and pensions | 62 | €2,792 | €1,998 | -€794 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,086 | €17,375 | -€2,710 | -13.5% |
| Other operating charges | 640/8 | €2,155 | €2,469 | +€314 | +14.6% |
| Gross operating margin | 9900 | -€2,642 | -€2,435 | +€207 | +7.8% |
| Operating profit (loss) | 9901 | -€27,675 | -€24,277 | +€3,397 | +12.3% |
| Financial charges | 65/66B | €1,195 | €1,239 | +€44 | +3.7% |
| Recurring financial charges | 65 | €1,195 | €1,239 | +€44 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€28,870 | -€25,516 | +€3,353 | +11.6% |
| Transfer from deferred taxes | 780 | €251 | €68 | -€182 | -72.8% |
| Profit (loss) for the period | 9904 | -€28,619 | -€25,448 | +€3,171 | +11.1% |
| Transfer from tax-exempt reserves | 789 | €487 | €132 | -€354 | -72.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,133 | -€25,316 | +€2,817 | +10.0% |
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 15 October 2026 via checked.be.