Timarco: 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.
Timarco
Largest movements
- Receivables within one year +€24,424
up €24,424 (+132%), from €18,564 to €42,988
of which Other amounts receivable: +€32,222
- Tangible fixed assets +€11,596
up €11,596 (+533%), from €2,174 to €13,770
of which Land and buildings: +€6,337
- Cash +€4,627
up €4,627 (+20.8%), from €22,220 to €26,847
mainly Net result for the year (+€26,373) and Trade debts (+€11,890)
- Reserves +€26,373
up €26,373 (+178%), from €14,804 to €41,178
- Trade debts +€11,890
up €11,890 (+1,294%), from €919 to €12,809
- Tax, wage and social debts +€3,628
up €3,628 (+49.0%), from €7,398 to €11,026
of which Remuneration and social security: +€2,300
- Other debts -€1,244
no longer reported in 2025 (was €1,244)
- Gross operating margin +€13,216
up €13,216 (+45.9%), from €28,792 to €42,009
- Taxes +€3,666
up €3,666 (+49.9%), from €7,347 to €11,013
- Depreciation +€2,559
up €2,559 (+248%), from €1,031 to €3,590
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 | €42,958 | €83,604 | +€40,647 | +94.6% |
| Fixed assets | 21/28 | €2,174 | €13,770 | +€11,596 | +533% |
| Tangible fixed assets | 22/27 | €2,174 | €13,770 | +€11,596 | +533% |
| Land and buildings | 22 | - | €6,337 | +€6,337 | |
| Plant, machinery and equipment | 23 | €128 | - | -€128 | |
| Furniture and vehicles | 24 | €2,046 | €7,433 | +€5,387 | +263% |
| Current assets | 29/58 | €40,784 | €69,835 | +€29,051 | +71.2% |
| Amounts receivable within one year | 40/41 | €18,564 | €42,988 | +€24,424 | +132% |
| Trade receivables | 40 | €16,995 | €9,196 | -€7,798 | -45.9% |
| Other amounts receivable | 41 | €1,569 | €33,791 | +€32,222 | +2,054% |
| Cash at bank and in hand | 54/58 | €22,220 | €26,847 | +€4,627 | +20.8% |
| Total equity and liabilities | 10/49 | €42,958 | €83,604 | +€40,647 | +94.6% |
| Equity | 10/15 | €33,396 | €59,770 | +€26,373 | +79.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,804 | €41,178 | +€26,373 | +178% |
| Distributable reserves | 133 | €14,804 | €41,178 | +€26,373 | +178% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €9,562 | €23,835 | +€14,273 | +149% |
| Amounts payable within one year | 42/48 | €9,562 | €23,835 | +€14,273 | +149% |
| Trade debts | 44 | €919 | €12,809 | +€11,890 | +1,294% |
| Suppliers | 440/4 | €919 | €12,809 | +€11,890 | +1,294% |
| Taxes, remuneration and social security | 45 | €7,398 | €11,026 | +€3,628 | +49.0% |
| Taxes | 450/3 | €7,398 | €8,726 | +€1,328 | +17.9% |
| Remuneration and social security | 454/9 | - | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €1,244 | - | -€1,244 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,031 | €3,590 | +€2,559 | +248% |
| Other operating charges | 640/8 | €1,007 | €1,297 | +€290 | +28.8% |
| Gross operating margin | 9900 | €28,792 | €42,009 | +€13,216 | +45.9% |
| Operating profit (loss) | 9901 | €26,754 | €37,121 | +€10,368 | +38.8% |
| Financial income | 75/76B | - | €419 | +€419 | |
| Recurring financial income | 75 | - | €419 | +€419 | |
| Financial charges | 65/66B | €196 | €154 | -€42 | -21.4% |
| Recurring financial charges | 65 | €196 | €154 | -€42 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €26,558 | €37,386 | +€10,829 | +40.8% |
| Income taxes | 67/77 | €7,347 | €11,013 | +€3,666 | +49.9% |
| Profit (loss) for the period | 9904 | €19,211 | €26,373 | +€7,163 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,211 | €26,373 | +€7,163 | +37.3% |
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.