TIMCONSTRUCT: 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.
TIMCONSTRUCT
Largest movements
- Cash +€434,758
up €434,758 (+667%), from €65,156 to €499,914
mainly Trade debts (+€276,280) and Net result for the year (+€206,717)
- Receivables within one year +€151,249
up €151,249 (+37.0%), from €409,151 to €560,400
of which Trade receivables: +€156,843
- Tangible fixed assets -€30,225
down €30,225 (-20.0%), from €151,320 to €121,095
- Trade debts +€276,280
up €276,280 (+149%), from €184,846 to €461,126
- Debts after one year +€192,411
up €192,411 (+1,440%), from €13,365 to €205,776
- Profit (loss) carried forward +€60,217
up €60,217 (+18.0%), from €335,079 to €395,296
- Tax, wage and social debts +€59,276
new in 2025: €59,276
- Reserves +€50,000
up €50,000 (+2,688%), from €1,860 to €51,860
of which Distributable reserves: +€50,000
- Gross operating margin +€245,267
up €245,267 (+352%), from €69,750 to €315,018
- Taxes +€44,120
up €44,120 (+660%), from €6,681 to €50,801
- Depreciation -€11,497
down €11,497 (-19.1%), from €60,169 to €48,672
- Financial charges +€6,180
up €6,180 (+233%), from €2,647 to €8,828
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 | €645,479 | €1,199,943 | +€554,464 | +85.9% |
| Fixed assets | 21/28 | €152,120 | €121,895 | -€30,225 | -19.9% |
| Tangible fixed assets | 22/27 | €151,320 | €121,095 | -€30,225 | -20.0% |
| Land and buildings | 22 | €80,892 | €78,624 | -€2,268 | -2.8% |
| Plant, machinery and equipment | 23 | €43,320 | €29,626 | -€13,695 | -31.6% |
| Furniture and vehicles | 24 | €14,281 | €4,659 | -€9,622 | -67.4% |
| Leasing and similar rights | 25 | €12,827 | €8,187 | -€4,640 | -36.2% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €493,359 | €1,078,047 | +€584,689 | +119% |
| Stocks and contracts in progress | 3 | €15,000 | €15,000 | = | 0.0% |
| Stocks | 30/36 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €409,151 | €560,400 | +€151,249 | +37.0% |
| Trade receivables | 40 | €360,633 | €517,477 | +€156,843 | +43.5% |
| Other amounts receivable | 41 | €48,518 | €42,924 | -€5,594 | -11.5% |
| Cash at bank and in hand | 54/58 | €65,156 | €499,914 | +€434,758 | +667% |
| Deferred charges and accrued income | 490/1 | €4,052 | €2,733 | -€1,319 | -32.5% |
| Total equity and liabilities | 10/49 | €645,479 | €1,199,943 | +€554,464 | +85.9% |
| Equity | 10/15 | €355,539 | €465,756 | +€110,217 | +31.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €51,860 | +€50,000 | +2,688% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €335,079 | €395,296 | +€60,217 | +18.0% |
| Amounts payable | 17/49 | €289,940 | €734,187 | +€444,247 | +153% |
| Amounts payable after more than one year | 17 | €13,365 | €205,776 | +€192,411 | +1,440% |
| Financial debts | 170/4 | €13,365 | €205,776 | +€192,411 | +1,440% |
| Amounts payable within one year | 42/48 | €276,575 | €528,411 | +€251,836 | +91.1% |
| Current portion of amounts payable after more than one year | 42 | €9,755 | €7,589 | -€2,165 | -22.2% |
| Financial debts | 43 | €40,000 | - | -€40,000 | |
| Credit institutions | 430/8 | €40,000 | - | -€40,000 | |
| Trade debts | 44 | €184,846 | €461,126 | +€276,280 | +149% |
| Suppliers | 440/4 | €184,846 | €461,126 | +€276,280 | +149% |
| Taxes, remuneration and social security | 45 | - | €59,276 | +€59,276 | |
| Taxes | 450/3 | - | €59,276 | +€59,276 | |
| Other amounts payable | 47/48 | €41,975 | €420 | -€41,555 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,169 | €48,672 | -€11,497 | -19.1% |
| Gross operating margin | 9900 | €69,750 | €315,018 | +€245,267 | +352% |
| Operating profit (loss) | 9901 | €9,582 | €266,346 | +€256,765 | +2,680% |
| Financial income | 75/76B | €2,371 | - | -€2,371 | |
| Recurring financial income | 75 | €2,371 | - | -€2,371 | |
| Financial charges | 65/66B | €2,647 | €8,828 | +€6,180 | +233% |
| Recurring financial charges | 65 | €2,647 | €8,828 | +€6,180 | +233% |
| Profit (loss) for the period before taxes | 9903 | €9,305 | €257,518 | +€248,213 | +2,667% |
| Income taxes | 67/77 | €6,681 | €50,801 | +€44,120 | +660% |
| Profit (loss) for the period | 9904 | €2,624 | €206,717 | +€204,093 | +7,777% |
| Profit (loss) for the period to be appropriated | 9905 | €2,624 | €206,717 | +€204,093 | +7,777% |
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 14 October 2026 via checked.be.