TIMCO: 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.
TIMCO
Largest movements
- Tangible fixed assets -€11,646
down €11,646 (-30.7%), from €37,951 to €26,305
of which Furniture and vehicles: -€13,876
- Receivables after one year +€5,255
up €5,255 (+10.2%), from €51,277 to €56,532
- Deferred charges and accrued income -€1,166
down €1,166 (-48.8%), from €2,386 to €1,221
- Profit (loss) carried forward +€26,176
up €26,176 (+386.6%), from €6,770 to €32,946
- Tax, wage and social debts -€22,029
down €22,029 (-56.6%), from €38,903 to €16,874
- Debts after one year -€15,107
down €15,107 (-54.6%), from €27,667 to €12,560
- Short-term financial debts +€1,976
new in 2025: €1,976
- Trade debts +€1,203
up €1,203 (+21.8%), from €5,517 to €6,720
- Gross operating margin -€13,561
down €13,561 (-20.6%), from €65,969 to €52,407
- Financial income -€3,804
down €3,804 (-52.6%), from €7,237 to €3,433
- Taxes -€3,131
down €3,131 (-26.0%), from €12,042 to €8,911
- Financial charges -€1,472
down €1,472 (-28.3%), from €5,209 to €3,737
- Other operating charges +€916
up €916 (+73.3%), from €1,250 to €2,166
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 | €98,139 | €90,194 | -€7,945 | -8.1% |
| Fixed assets | 21/28 | €37,951 | €26,305 | -€11,646 | -30.7% |
| Tangible fixed assets | 22/27 | €37,951 | €26,305 | -€11,646 | -30.7% |
| Land and buildings | 22 | - | €2,325 | +€2,325 | |
| Plant, machinery and equipment | 23 | €515 | €421 | -€94 | -18.3% |
| Furniture and vehicles | 24 | €37,436 | €23,560 | -€13,876 | -37.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €60,188 | €63,889 | +€3,701 | +6.1% |
| Amounts receivable after more than one year | 29 | €51,277 | €56,532 | +€5,255 | +10.2% |
| Other amounts receivable | 291 | €51,277 | €56,532 | +€5,255 | +10.2% |
| Amounts receivable within one year | 40/41 | €6,100 | €6,137 | +€37 | +0.6% |
| Trade receivables | 40 | €4,704 | €4,491 | -€214 | -4.5% |
| Other amounts receivable | 41 | €1,396 | €1,646 | +€250 | +17.9% |
| Cash at bank and in hand | 54/58 | €425 | €0 | -€425 | -100.0% |
| Deferred charges and accrued income | 490/1 | €2,386 | €1,221 | -€1,166 | -48.8% |
| Total equity and liabilities | 10/49 | €98,139 | €90,194 | -€7,945 | -8.1% |
| Equity | 10/15 | €9,770 | €35,946 | +€26,176 | +267.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,770 | €32,946 | +€26,176 | +386.6% |
| Amounts payable | 17/49 | €88,369 | €54,248 | -€34,121 | -38.6% |
| Amounts payable after more than one year | 17 | €27,667 | €12,560 | -€15,107 | -54.6% |
| Financial debts | 170/4 | €27,667 | €12,560 | -€15,107 | -54.6% |
| Amounts payable within one year | 42/48 | €60,702 | €41,688 | -€19,014 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €16,282 | €16,118 | -€164 | -1.0% |
| Financial debts | 43 | - | €1,976 | +€1,976 | |
| Credit institutions | 430/8 | - | €1,976 | +€1,976 | |
| Trade debts | 44 | €5,517 | €6,720 | +€1,203 | +21.8% |
| Suppliers | 440/4 | €5,517 | €6,720 | +€1,203 | +21.8% |
| Taxes, remuneration and social security | 45 | €38,903 | €16,874 | -€22,029 | -56.6% |
| Taxes | 450/3 | €38,903 | €16,874 | -€22,029 | -56.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,439 | €14,850 | +€411 | +2.8% |
| Other operating charges | 640/8 | €1,250 | €2,166 | +€916 | +73.3% |
| Gross operating margin | 9900 | €65,969 | €52,407 | -€13,561 | -20.6% |
| Operating profit (loss) | 9901 | €50,279 | €35,391 | -€14,888 | -29.6% |
| Financial income | 75/76B | €7,237 | €3,433 | -€3,804 | -52.6% |
| Recurring financial income | 75 | €7,237 | €3,433 | -€3,804 | -52.6% |
| Financial charges | 65/66B | €5,209 | €3,737 | -€1,472 | -28.3% |
| Recurring financial charges | 65 | €5,209 | €3,737 | -€1,472 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €52,307 | €35,086 | -€17,221 | -32.9% |
| Income taxes | 67/77 | €12,042 | €8,911 | -€3,131 | -26.0% |
| Profit (loss) for the period | 9904 | €40,265 | €26,176 | -€14,090 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,265 | €26,176 | -€14,090 | -35.0% |
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 7 October 2026 via checked.be.