TIMAS EUROPE: what changed
TIMAS EUROPE
Largest movements
- Stocks and contracts +€87,591
up €87,591 (+116%), from €75,276 to €162,867
- Cash +€9,938
up €9,938 (+101%), from €9,838 to €19,777
mainly Other debts (+€277,565) and Depreciation (+€4,329)
- Financial fixed assets +€5,000
new in 2025: €5,000
- Receivables within one year +€2,991
up €2,991 (+55.4%), from €5,404 to €8,395
of which Trade receivables: +€5,369
- Intangible fixed assets +€2,938
up €2,938 (+24.1%), from €12,198 to €15,136
- Other debts +€277,565
up €277,565 (+419%), from €66,238 to €343,803
- Profit (loss) carried forward -€158,614
down €158,614 (-131%), from -€120,727 to -€279,342
- Trade debts -€14,658
down €14,658 (-17.6%), from €83,058 to €68,400
- Tax, wage and social debts +€4,185
up €4,185 (+80.5%), from €5,197 to €9,382
of which Taxes: +€3,221
- Staff costs +€29,683
up €29,683 (+49.0%), from €60,558 to €90,241
- Gross operating margin -€19,298
down €19,298 (-92.9%), from -€20,783 to -€40,082
- Financial charges +€17,522
up €17,522 (+4,801%), from €365 to €17,887
- Other operating charges +€5,698
up €5,698 (+1,088%), from €524 to €6,222
- Depreciation +€3,122
up €3,122 (+259%), from €1,207 to €4,329
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €104,052 | €212,244 | +€108,192 | +104% |
| Fixed assets | 21/28 | €13,534 | €21,205 | +€7,671 | +56.7% |
| Intangible fixed assets | 21 | €12,198 | €15,136 | +€2,938 | +24.1% |
| Tangible fixed assets | 22/27 | €1,336 | €1,069 | -€267 | -20.0% |
| Other tangible fixed assets | 26 | €1,336 | €1,069 | -€267 | -20.0% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €90,518 | €191,039 | +€100,520 | +111% |
| Stocks and contracts in progress | 3 | €75,276 | €162,867 | +€87,591 | +116% |
| Stocks | 30/36 | €75,276 | €162,867 | +€87,591 | +116% |
| Amounts receivable within one year | 40/41 | €5,404 | €8,395 | +€2,991 | +55.4% |
| Trade receivables | 40 | €1,430 | €6,799 | +€5,369 | +375% |
| Other amounts receivable | 41 | €3,974 | €1,596 | -€2,378 | -59.8% |
| Cash at bank and in hand | 54/58 | €9,838 | €19,777 | +€9,938 | +101% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €104,052 | €212,244 | +€108,192 | +104% |
| Equity | 10/15 | -€50,727 | -€209,342 | -€158,614 | -313% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,727 | -€279,342 | -€158,614 | -131% |
| Amounts payable | 17/49 | €154,779 | €421,585 | +€266,806 | +172% |
| Amounts payable within one year | 42/48 | €154,493 | €421,585 | +€267,092 | +173% |
| Trade debts | 44 | €83,058 | €68,400 | -€14,658 | -17.6% |
| Suppliers | 440/4 | €83,058 | €68,400 | -€14,658 | -17.6% |
| Taxes, remuneration and social security | 45 | €5,197 | €9,382 | +€4,185 | +80.5% |
| Taxes | 450/3 | - | €3,221 | +€3,221 | |
| Remuneration and social security | 454/9 | €5,197 | €6,160 | +€964 | +18.5% |
| Other amounts payable | 47/48 | €66,238 | €343,803 | +€277,565 | +419% |
| Accrued charges and deferred income | 492/3 | €286 | €0 | -€286 | -100% |
| Remuneration, social security and pensions | 62 | €60,558 | €90,241 | +€29,683 | +49.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,207 | €4,329 | +€3,122 | +259% |
| Other operating charges | 640/8 | €524 | €6,222 | +€5,698 | +1,088% |
| Gross operating margin | 9900 | -€20,783 | -€40,082 | -€19,298 | -92.9% |
| Operating profit (loss) | 9901 | -€83,072 | -€140,874 | -€57,802 | -69.6% |
| Financial income | 75/76B | €27 | €146 | +€119 | +439% |
| Recurring financial income | 75 | €27 | €146 | +€119 | +439% |
| Financial charges | 65/66B | €365 | €17,887 | +€17,522 | +4,801% |
| Recurring financial charges | 65 | €365 | €17,887 | +€17,522 | +4,801% |
| Profit (loss) for the period before taxes | 9903 | -€83,410 | -€158,614 | -€75,205 | -90.2% |
| Profit (loss) for the period | 9904 | -€83,410 | -€158,614 | -€75,205 | -90.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,410 | -€158,614 | -€75,205 | -90.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.