TIMBERTEAM: 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.
TIMBERTEAM
Largest movements
- Receivables within one year +€2.1m
up €2.1m (+135.9%), from €1.5m to €3.7m
of which Trade receivables: +€2.1m
- Receivables after one year +€154,383
up €154,383 (+61.8%), from €249,746 to €404,129
- Financial fixed assets +€140,288
up €140,288 (+40.0%), from €350,369 to €490,657
- Stocks and contracts -€122,788
down €122,788 (-12.3%), from €1.0m to €877,272
of which Contracts in progress: -€132,763
- Short-term financial debts +€1.4m
up €1.4m (+378.0%), from €372,826 to €1.8m
- Trade debts +€671,122
up €671,122 (+58.2%), from €1.2m to €1.8m
- Profit (loss) carried forward +€89,287
up €89,287 (+29.2%), from €306,170 to €395,457
- Tax, wage and social debts +€72,453
up €72,453 (+38.5%), from €188,216 to €260,669
of which Remuneration and social security: +€72,049
- Gross operating margin -€248,853
down €248,853 (-17.8%), from €1.4m to €1.2m
- Staff costs -€96,380
down €96,380 (-9.9%), from €976,957 to €880,577
- Other operating charges -€44,887
down €44,887 (-59.3%), from €75,747 to €30,859
- Write-downs -€35,410
no longer reported in 2025 (was €35,410)
- Financial charges -€26,567
down €26,567 (-20.2%), from €131,290 to €104,724
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 | €3,323,455 | €5,543,410 | +€2.2m | +66.8% |
| Fixed assets | 21/28 | €473,368 | €560,544 | +€87,176 | +18.4% |
| Intangible fixed assets | 21 | €14,906 | €9,214 | -€5,692 | -38.2% |
| Tangible fixed assets | 22/27 | €108,093 | €60,673 | -€47,420 | -43.9% |
| Plant, machinery and equipment | 23 | €9,439 | €3,037 | -€6,402 | -67.8% |
| Furniture and vehicles | 24 | €4,418 | €3,083 | -€1,335 | -30.2% |
| Leasing and similar rights | 25 | €83,441 | €48,579 | -€34,863 | -41.8% |
| Other tangible fixed assets | 26 | €10,794 | €5,974 | -€4,821 | -44.7% |
| Financial fixed assets | 28 | €350,369 | €490,657 | +€140,288 | +40.0% |
| Current assets | 29/58 | €2,850,087 | €4,982,866 | +€2.1m | +74.8% |
| Amounts receivable after more than one year | 29 | €249,746 | €404,129 | +€154,383 | +61.8% |
| Other amounts receivable | 291 | €249,746 | €404,129 | +€154,383 | +61.8% |
| Stocks and contracts in progress | 3 | €1,000,060 | €877,272 | -€122,788 | -12.3% |
| Stocks | 30/36 | €215,016 | €224,991 | +€9,975 | +4.6% |
| Contracts in progress | 37 | €785,044 | €652,281 | -€132,763 | -16.9% |
| Amounts receivable within one year | 40/41 | €1,549,598 | €3,655,173 | +€2.1m | +135.9% |
| Trade receivables | 40 | €1,536,897 | €3,652,368 | +€2.1m | +137.6% |
| Other amounts receivable | 41 | €12,701 | €2,804 | -€9,896 | -77.9% |
| Cash at bank and in hand | 54/58 | €33,050 | €2,838 | -€30,212 | -91.4% |
| Deferred charges and accrued income | 490/1 | €17,633 | €43,454 | +€25,821 | +146.4% |
| Total equity and liabilities | 10/49 | €3,323,455 | €5,543,410 | +€2.2m | +66.8% |
| Equity | 10/15 | €557,931 | €647,218 | +€89,287 | +16.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,761 | €1,761 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,761 | €1,761 | = | 0.0% |
| Legal reserve | 130 | €1,761 | €1,761 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306,170 | €395,457 | +€89,287 | +29.2% |
| Amounts payable | 17/49 | €2,765,523 | €4,896,191 | +€2.1m | +77.0% |
| Amounts payable after more than one year | 17 | €937,251 | €893,265 | -€43,986 | -4.7% |
| Financial debts | 170/4 | €937,251 | €893,265 | -€43,986 | -4.7% |
| Amounts payable within one year | 42/48 | €1,828,272 | €3,995,530 | +€2.2m | +118.5% |
| Current portion of amounts payable after more than one year | 42 | €113,168 | €127,676 | +€14,508 | +12.8% |
| Financial debts | 43 | €372,826 | €1,782,000 | +€1.4m | +378.0% |
| Credit institutions | 430/8 | €372,826 | €1,782,000 | +€1.4m | +378.0% |
| Trade debts | 44 | €1,153,744 | €1,824,865 | +€671,122 | +58.2% |
| Suppliers | 440/4 | €1,153,744 | €1,824,865 | +€671,122 | +58.2% |
| Taxes, remuneration and social security | 45 | €188,216 | €260,669 | +€72,453 | +38.5% |
| Taxes | 450/3 | €3,238 | €3,642 | +€404 | +12.5% |
| Remuneration and social security | 454/9 | €184,978 | €257,027 | +€72,049 | +39.0% |
| Other amounts payable | 47/48 | €319 | €319 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €7,397 | +€7,397 | |
| Remuneration, social security and pensions | 62 | €976,957 | €880,577 | -€96,380 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,688 | €54,491 | -€1,198 | -2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,410 | - | -€35,410 | |
| Other operating charges | 640/8 | €75,747 | €30,859 | -€44,887 | -59.3% |
| Gross operating margin | 9900 | €1,400,830 | €1,151,977 | -€248,853 | -17.8% |
| Operating profit (loss) | 9901 | €257,027 | €186,050 | -€70,977 | -27.6% |
| Financial income | 75/76B | €23,839 | €8,364 | -€15,474 | -64.9% |
| Recurring financial income | 75 | €23,839 | €8,364 | -€15,474 | -64.9% |
| Financial charges | 65/66B | €131,290 | €104,724 | -€26,567 | -20.2% |
| Recurring financial charges | 65 | €131,290 | €104,724 | -€26,567 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €149,575 | €89,691 | -€59,884 | -40.0% |
| Income taxes | 67/77 | - | €404 | +€404 | |
| Profit (loss) for the period | 9904 | €149,575 | €89,287 | -€60,288 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €149,575 | €89,287 | -€60,288 | -40.3% |
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 2 October 2026 via checked.be.