TIMEC: 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.
TIMEC
Largest movements
- Tangible fixed assets +€272,927
up €272,927 (+2572.3%), from €10,610 to €283,537
of which Land and buildings: +€272,940
- Cash -€105,335
down €105,335 (-50.4%), from €209,130 to €103,796
mainly Investment in fixed assets (net) (-€288,310) and Contributions, distributions and other (-€79,000)
- Receivables within one year -€37,461
down €37,461 (-99.6%), from €37,612 to €151
of which Trade receivables: -€37,348
- Debts after one year +€134,853
new in 2025: €134,853
- Profit (loss) carried forward -€79,005
down €79,005 (-100.0%), from €79,005 to €0
- Other debts +€67,138
up €67,138 (+263.2%), from €25,504 to €92,642
- Reserves +€28,448
up €28,448 (+31.2%), from €91,178 to €119,626
- Tax, wage and social debts -€23,686
down €23,686 (-48.7%), from €48,661 to €24,975
- Gross operating margin -€68,465
down €68,465 (-50.6%), from €135,322 to €66,857
- Taxes -€25,669
down €25,669 (-67.9%), from €37,818 to €12,149
- Depreciation +€14,091
up €14,091 (+1091.0%), from €1,292 to €15,383
- Financial charges +€4,652
up €4,652 (+89.6%), from €5,189 to €9,841
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 | €257,422 | €387,747 | +€130,325 | +50.6% |
| Fixed assets | 21/28 | €10,610 | €283,537 | +€272,927 | +2572.3% |
| Tangible fixed assets | 22/27 | €10,610 | €283,537 | +€272,927 | +2572.3% |
| Land and buildings | 22 | - | €272,940 | +€272,940 | |
| Plant, machinery and equipment | 23 | €2,415 | €1,487 | -€928 | -38.4% |
| Furniture and vehicles | 24 | - | €1,838 | +€1,838 | |
| Other tangible fixed assets | 26 | €8,195 | €7,273 | -€923 | -11.3% |
| Current assets | 29/58 | €246,812 | €104,210 | -€142,602 | -57.8% |
| Amounts receivable within one year | 40/41 | €37,612 | €151 | -€37,461 | -99.6% |
| Trade receivables | 40 | €37,348 | €0 | -€37,348 | -100.0% |
| Other amounts receivable | 41 | €264 | €151 | -€113 | -43.0% |
| Cash at bank and in hand | 54/58 | €209,130 | €103,796 | -€105,335 | -50.4% |
| Deferred charges and accrued income | 490/1 | €70 | €264 | +€194 | +276.9% |
| Total equity and liabilities | 10/49 | €257,422 | €387,747 | +€130,325 | +50.6% |
| Equity | 10/15 | €175,183 | €124,626 | -€50,558 | -28.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €91,178 | €119,626 | +€28,448 | +31.2% |
| Distributable reserves | 133 | €91,178 | €119,626 | +€28,448 | +31.2% |
| Profit (loss) carried forward | 14 | €79,005 | €0 | -€79,005 | -100.0% |
| Amounts payable | 17/49 | €82,239 | €263,121 | +€180,882 | +219.9% |
| Amounts payable after more than one year | 17 | - | €134,853 | +€134,853 | |
| Financial debts | 170/4 | - | €134,853 | +€134,853 | |
| Amounts payable within one year | 42/48 | €82,239 | €126,464 | +€44,225 | +53.8% |
| Current portion of amounts payable after more than one year | 42 | - | €8,023 | +€8,023 | |
| Financial debts | 43 | €972 | €0 | -€972 | -100.0% |
| Credit institutions | 430/8 | €972 | €0 | -€972 | -100.0% |
| Trade debts | 44 | €7,102 | €824 | -€6,278 | -88.4% |
| Suppliers | 440/4 | €7,102 | €824 | -€6,278 | -88.4% |
| Taxes, remuneration and social security | 45 | €48,661 | €24,975 | -€23,686 | -48.7% |
| Taxes | 450/3 | €48,661 | €24,975 | -€23,686 | -48.7% |
| Other amounts payable | 47/48 | €25,504 | €92,642 | +€67,138 | +263.2% |
| Accrued charges and deferred income | 492/3 | - | €1,805 | +€1,805 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,292 | €15,383 | +€14,091 | +1091.0% |
| Other operating charges | 640/8 | €495 | €1,665 | +€1,170 | +236.5% |
| Gross operating margin | 9900 | €135,322 | €66,857 | -€68,465 | -50.6% |
| Operating profit (loss) | 9901 | €133,536 | €49,809 | -€83,727 | -62.7% |
| Financial income | 75/76B | €650 | €623 | -€26 | -4.1% |
| Recurring financial income | 75 | €650 | €623 | -€26 | -4.1% |
| Financial charges | 65/66B | €5,189 | €9,841 | +€4,652 | +89.6% |
| Recurring financial charges | 65 | €5,189 | €9,841 | +€4,652 | +89.6% |
| Profit (loss) for the period before taxes | 9903 | €128,996 | €40,591 | -€88,405 | -68.5% |
| Income taxes | 67/77 | €37,818 | €12,149 | -€25,669 | -67.9% |
| Profit (loss) for the period | 9904 | €91,178 | €28,442 | -€62,735 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €91,178 | €28,442 | -€62,735 | -68.8% |
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 11 October 2026 via checked.be.