TIMASSUR: 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.
TIMASSUR
Largest movements
- Receivables within one year +€23,008
up €23,008 (+29.2%), from €78,809 to €101,817
of which Other amounts receivable: +€26,192
- Tangible fixed assets -€8,942
down €8,942 (-22.1%), from €40,487 to €31,544
- Other debts +€30,000
new in 2025: €30,000
- Reserves -€8,401
down €8,401 (-5.1%), from €166,193 to €157,793
of which Distributable reserves: -€8,401
- Debts after one year -€6,781
down €6,781 (-25.2%), from €26,898 to €20,117
- Gross operating margin -€11,366
down €11,366 (-21.5%), from €52,929 to €41,563
- Depreciation +€5,262
up €5,262 (+143.0%), from €3,680 to €8,942
- Taxes -€3,998
down €3,998 (-25.0%), from €15,988 to €11,989
- Financial income +€1,337
up €1,337 (+37.1%), from €3,599 to €4,936
- Financial charges +€764
up €764 (+63.6%), from €1,201 to €1,966
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 | €340,586 | €354,212 | +€13,626 | +4.0% |
| Fixed assets | 21/28 | €243,792 | €234,850 | -€8,942 | -3.7% |
| Intangible fixed assets | 21 | €203,305 | €203,305 | = | 0.0% |
| Tangible fixed assets | 22/27 | €40,487 | €31,544 | -€8,942 | -22.1% |
| Furniture and vehicles | 24 | €40,487 | €31,544 | -€8,942 | -22.1% |
| Current assets | 29/58 | €96,794 | €119,362 | +€22,568 | +23.3% |
| Amounts receivable within one year | 40/41 | €78,809 | €101,817 | +€23,008 | +29.2% |
| Trade receivables | 40 | €4,377 | €1,193 | -€3,184 | -72.8% |
| Other amounts receivable | 41 | €74,433 | €100,625 | +€26,192 | +35.2% |
| Cash at bank and in hand | 54/58 | €14,818 | €14,605 | -€212 | -1.4% |
| Deferred charges and accrued income | 490/1 | €3,167 | €2,940 | -€227 | -7.2% |
| Total equity and liabilities | 10/49 | €340,586 | €354,212 | +€13,626 | +4.0% |
| Equity | 10/15 | €297,093 | €288,693 | -€8,401 | -2.8% |
| Contributions | 10/11 | €130,900 | €130,900 | = | 0.0% |
| Reserves | 13 | €166,193 | €157,793 | -€8,401 | -5.1% |
| Tax-exempt reserves | 132 | €785 | €785 | = | 0.0% |
| Distributable reserves | 133 | €165,409 | €157,008 | -€8,401 | -5.1% |
| Amounts payable | 17/49 | €43,493 | €65,519 | +€22,027 | +50.6% |
| Amounts payable after more than one year | 17 | €26,898 | €20,117 | -€6,781 | -25.2% |
| Financial debts | 170/4 | €26,898 | €20,117 | -€6,781 | -25.2% |
| Amounts payable within one year | 42/48 | €16,595 | €45,403 | +€28,808 | +173.6% |
| Current portion of amounts payable after more than one year | 42 | €6,514 | €6,781 | +€267 | +4.1% |
| Trade debts | 44 | €4,093 | €665 | -€3,428 | -83.8% |
| Suppliers | 440/4 | €4,093 | €665 | -€3,428 | -83.8% |
| Taxes, remuneration and social security | 45 | €5,988 | €7,957 | +€1,969 | +32.9% |
| Taxes | 450/3 | €5,988 | €7,957 | +€1,969 | +32.9% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,680 | €8,942 | +€5,262 | +143.0% |
| Other operating charges | 640/8 | €1,559 | €2,003 | +€444 | +28.5% |
| Gross operating margin | 9900 | €52,929 | €41,563 | -€11,366 | -21.5% |
| Operating profit (loss) | 9901 | €47,690 | €30,618 | -€17,072 | -35.8% |
| Financial income | 75/76B | €3,599 | €4,936 | +€1,337 | +37.1% |
| Recurring financial income | 75 | €3,599 | €4,936 | +€1,337 | +37.1% |
| Financial charges | 65/66B | €1,201 | €1,966 | +€764 | +63.6% |
| Recurring financial charges | 65 | €1,201 | €1,966 | +€764 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €50,088 | €33,589 | -€16,499 | -32.9% |
| Income taxes | 67/77 | €15,988 | €11,989 | -€3,998 | -25.0% |
| Profit (loss) for the period | 9904 | €34,100 | €21,599 | -€12,501 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,100 | €21,599 | -€12,501 | -36.7% |
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 29 September 2026 via checked.be.