TIME 2 BUILD: 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.
TIME 2 BUILD
Largest movements
- Receivables within one year +€660,712
up €660,712 (+58.2%), from €1.1m to €1.8m
of which Trade receivables: +€653,746
- Cash +€295,284
up €295,284 (+403.5%), from €73,184 to €368,468
mainly Trade debts (+€442,732) and Net result for the year (+€385,464)
- Tangible fixed assets -€214,332
down €214,332 (-25.6%), from €838,682 to €624,350
of which Leasing and similar rights: -€167,528
- Trade debts +€442,732
up €442,732 (+66.6%), from €664,993 to €1.1m
- Profit (loss) carried forward +€235,464
up €235,464 (+52.4%), from €449,479 to €684,943
- Debts after one year -€208,204
down €208,204 (-37.5%), from €555,287 to €347,083
- Reserves +€150,000
up €150,000 (+150.0%), from €100,000 to €250,000
- Tax, wage and social debts +€135,892
up €135,892 (+284.6%), from €47,744 to €183,636
of which Taxes: +€140,574
- Gross operating margin +€485,994
up €485,994 (+70.7%), from €687,011 to €1.2m
- Taxes +€145,641
up €145,641 (+624.2%), from €23,334 to €168,976
- Staff costs +€55,342
up €55,342 (+22.7%), from €243,912 to €299,254
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,068,253 | €2,811,717 | +€743,463 | +35.9% |
| Fixed assets | 21/28 | €845,755 | €634,303 | -€211,453 | -25.0% |
| Tangible fixed assets | 22/27 | €838,682 | €624,350 | -€214,332 | -25.6% |
| Plant, machinery and equipment | 23 | €67,106 | €30,711 | -€36,395 | -54.2% |
| Furniture and vehicles | 24 | €80,738 | €70,329 | -€10,409 | -12.9% |
| Leasing and similar rights | 25 | €690,838 | €523,310 | -€167,528 | -24.2% |
| Financial fixed assets | 28 | €7,073 | €9,953 | +€2,880 | +40.7% |
| Current assets | 29/58 | €1,222,498 | €2,177,414 | +€954,916 | +78.1% |
| Amounts receivable within one year | 40/41 | €1,135,461 | €1,796,173 | +€660,712 | +58.2% |
| Trade receivables | 40 | €1,088,686 | €1,742,432 | +€653,746 | +60.0% |
| Other amounts receivable | 41 | €46,775 | €53,742 | +€6,966 | +14.9% |
| Cash at bank and in hand | 54/58 | €73,184 | €368,468 | +€295,284 | +403.5% |
| Deferred charges and accrued income | 490/1 | €13,853 | €12,772 | -€1,081 | -7.8% |
| Total equity and liabilities | 10/49 | €2,068,253 | €2,811,717 | +€743,463 | +35.9% |
| Equity | 10/15 | €561,879 | €947,343 | +€385,464 | +68.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €100,000 | €250,000 | +€150,000 | +150.0% |
| Distributable reserves | 133 | €100,000 | €250,000 | +€150,000 | +150.0% |
| Profit (loss) carried forward | 14 | €449,479 | €684,943 | +€235,464 | +52.4% |
| Amounts payable | 17/49 | €1,506,375 | €1,864,373 | +€357,999 | +23.8% |
| Amounts payable after more than one year | 17 | €555,287 | €347,083 | -€208,204 | -37.5% |
| Financial debts | 170/4 | €555,287 | €347,083 | -€208,204 | -37.5% |
| Amounts payable within one year | 42/48 | €949,857 | €1,516,060 | +€566,203 | +59.6% |
| Current portion of amounts payable after more than one year | 42 | €211,521 | €208,450 | -€3,071 | -1.5% |
| Trade debts | 44 | €664,993 | €1,107,724 | +€442,732 | +66.6% |
| Suppliers | 440/4 | €664,993 | €1,107,724 | +€442,732 | +66.6% |
| Taxes, remuneration and social security | 45 | €47,744 | €183,636 | +€135,892 | +284.6% |
| Taxes | 450/3 | €28,375 | €168,949 | +€140,574 | +495.4% |
| Remuneration and social security | 454/9 | €19,369 | €14,687 | -€4,682 | -24.2% |
| Other amounts payable | 47/48 | €25,600 | €16,250 | -€9,350 | -36.5% |
| Accrued charges and deferred income | 492/3 | €1,230 | €1,230 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €243,912 | €299,254 | +€55,342 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €238,500 | €240,762 | +€2,262 | +0.9% |
| Other operating charges | 640/8 | €49,739 | €44,743 | -€4,996 | -10.0% |
| Gross operating margin | 9900 | €687,011 | €1,173,005 | +€485,994 | +70.7% |
| Operating profit (loss) | 9901 | €154,860 | €588,247 | +€433,386 | +279.9% |
| Financial income | 75/76B | €8 | €112 | +€104 | +1297.4% |
| Recurring financial income | 75 | €8 | €112 | +€104 | +1297.4% |
| Financial charges | 65/66B | €26,300 | €33,918 | +€7,619 | +29.0% |
| Recurring financial charges | 65 | €26,300 | €33,918 | +€7,619 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €128,569 | €554,440 | +€425,871 | +331.2% |
| Income taxes | 67/77 | €23,334 | €168,976 | +€145,641 | +624.2% |
| Profit (loss) for the period | 9904 | €105,234 | €385,464 | +€280,230 | +266.3% |
| Profit (loss) for the period to be appropriated | 9905 | €105,234 | €385,464 | +€280,230 | +266.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.