TIMAR: 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.
TIMAR
Largest movements
- Cash -€297
down €297 (-19.8%), from €1,504 to €1,207
mainly Net result for the year (-€1,036) and Tax, wage and social debts (-€442)
- Tangible fixed assets -€295
no longer reported in 2025 (was €295)
- Stocks and contracts -€271
down €271 (-1.2%), from €22,050 to €21,779
- Profit (loss) carried forward -€1,036
down €1,036 (-0.6%), from -€174,620 to -€175,656
- Tax, wage and social debts -€442
no longer reported in 2025 (was €442)
- Trade debts +€302
up €302 (+25.8%), from €1,170 to €1,472
- Gross operating margin -€27
down €27 (-4.1%), from -€668 to -€695
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 | €24,557 | €23,551 | -€1,006 | -4.1% |
| Fixed assets | 21/28 | €295 | - | -€295 | |
| Tangible fixed assets | 22/27 | €295 | - | -€295 | |
| Furniture and vehicles | 24 | €295 | - | -€295 | |
| Current assets | 29/58 | €24,262 | €23,551 | -€711 | -2.9% |
| Stocks and contracts in progress | 3 | €22,050 | €21,779 | -€271 | -1.2% |
| Stocks | 30/36 | €22,050 | €21,779 | -€271 | -1.2% |
| Amounts receivable within one year | 40/41 | €458 | €312 | -€146 | -31.9% |
| Trade receivables | 40 | €443 | €217 | -€225 | -50.9% |
| Other amounts receivable | 41 | €15 | €95 | +€79 | +517% |
| Cash at bank and in hand | 54/58 | €1,504 | €1,207 | -€297 | -19.8% |
| Deferred charges and accrued income | 490/1 | €251 | €253 | +€3 | +1.1% |
| Total equity and liabilities | 10/49 | €24,557 | €23,551 | -€1,006 | -4.1% |
| Equity | 10/15 | -€166,564 | -€167,599 | -€1,036 | -0.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€174,620 | -€175,656 | -€1,036 | -0.6% |
| Amounts payable | 17/49 | €191,121 | €191,151 | +€30 | 0.0% |
| Amounts payable within one year | 42/48 | €191,121 | €191,151 | +€30 | 0.0% |
| Trade debts | 44 | €1,170 | €1,472 | +€302 | +25.8% |
| Suppliers | 440/4 | €1,170 | €1,472 | +€302 | +25.8% |
| Taxes, remuneration and social security | 45 | €442 | - | -€442 | |
| Taxes | 450/3 | €442 | - | -€442 | |
| Other amounts payable | 47/48 | €189,509 | €189,679 | +€171 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €295 | €295 | -€1 | -0.3% |
| Gross operating margin | 9900 | -€668 | -€695 | -€27 | -4.1% |
| Operating profit (loss) | 9901 | -€963 | -€990 | -€26 | -2.7% |
| Financial charges | 65/66B | €50 | €46 | -€4 | -7.3% |
| Recurring financial charges | 65 | €50 | €46 | -€4 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,013 | -€1,036 | -€23 | -2.2% |
| Profit (loss) for the period | 9904 | -€1,013 | -€1,036 | -€23 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,013 | -€1,036 | -€23 | -2.2% |
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 16 October 2026 via checked.be.