TIMECH: 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.
TIMECH
Largest movements
- Receivables within one year +€223,846
up €223,846 (+110.2%), from €203,062 to €426,908
of which Trade receivables: +€112,226
- Cash +€91,991
up €91,991 (+71.6%), from €128,488 to €220,480
mainly Trade debts (+€160,982) and Current portion of long-term debt (+€148,922)
- Stocks and contracts +€32,264
up €32,264 (+7.3%), from €439,175 to €471,439
- Tangible fixed assets -€14,601
down €14,601 (-14.8%), from €98,665 to €84,064
of which Plant, machinery and equipment: -€10,222
- Trade debts +€160,982
up €160,982 (+135.9%), from €118,465 to €279,447
- Current portion of long-term debt +€148,922
up €148,922 (+68.6%), from €217,138 to €366,060
- Tax, wage and social debts +€30,269
up €30,269 (+68.9%), from €43,927 to €74,196
of which Taxes: +€26,523
- Debts after one year -€14,524
down €14,524 (-78.2%), from €18,571 to €4,046
- Staff costs +€20,626
up €20,626 (+11.5%), from €179,921 to €200,547
- Gross operating margin +€19,995
up €19,995 (+5.5%), from €364,543 to €384,538
- Depreciation +€6,117
up €6,117 (+18.6%), from €32,834 to €38,951
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 | €869,525 | €1,203,026 | +€333,501 | +38.4% |
| Fixed assets | 21/28 | €98,800 | €84,199 | -€14,601 | -14.8% |
| Tangible fixed assets | 22/27 | €98,665 | €84,064 | -€14,601 | -14.8% |
| Plant, machinery and equipment | 23 | €31,748 | €21,526 | -€10,222 | -32.2% |
| Furniture and vehicles | 24 | €66,917 | €62,538 | -€4,379 | -6.5% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €770,725 | €1,118,827 | +€348,102 | +45.2% |
| Stocks and contracts in progress | 3 | €439,175 | €471,439 | +€32,264 | +7.3% |
| Stocks | 30/36 | €439,175 | €471,439 | +€32,264 | +7.3% |
| Amounts receivable within one year | 40/41 | €203,062 | €426,908 | +€223,846 | +110.2% |
| Trade receivables | 40 | €203,062 | €315,288 | +€112,226 | +55.3% |
| Other amounts receivable | 41 | - | €111,620 | +€111,620 | |
| Cash at bank and in hand | 54/58 | €128,488 | €220,480 | +€91,991 | +71.6% |
| Total equity and liabilities | 10/49 | €869,525 | €1,203,026 | +€333,501 | +38.4% |
| Equity | 10/15 | €470,780 | €479,277 | +€8,497 | +1.8% |
| Contributions | 10/11 | €145,000 | €145,000 | = | 0.0% |
| Reserves | 13 | €325,780 | €334,277 | +€8,497 | +2.6% |
| Distributable reserves | 133 | €325,780 | €334,277 | +€8,497 | +2.6% |
| Amounts payable | 17/49 | €398,745 | €723,749 | +€325,004 | +81.5% |
| Amounts payable after more than one year | 17 | €18,571 | €4,046 | -€14,524 | -78.2% |
| Financial debts | 170/4 | €18,571 | €4,046 | -€14,524 | -78.2% |
| Amounts payable within one year | 42/48 | €380,174 | €719,703 | +€339,528 | +89.3% |
| Current portion of amounts payable after more than one year | 42 | €217,138 | €366,060 | +€148,922 | +68.6% |
| Trade debts | 44 | €118,465 | €279,447 | +€160,982 | +135.9% |
| Suppliers | 440/4 | €118,465 | €279,447 | +€160,982 | +135.9% |
| Taxes, remuneration and social security | 45 | €43,927 | €74,196 | +€30,269 | +68.9% |
| Taxes | 450/3 | €22,768 | €49,290 | +€26,523 | +116.5% |
| Remuneration and social security | 454/9 | €21,159 | €24,906 | +€3,746 | +17.7% |
| Other amounts payable | 47/48 | €645 | - | -€645 | |
| Non-recurring operating income | 76A | €826 | - | -€826 | |
| Remuneration, social security and pensions | 62 | €179,921 | €200,547 | +€20,626 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,834 | €38,951 | +€6,117 | +18.6% |
| Other operating charges | 640/8 | €11,650 | €10,496 | -€1,154 | -9.9% |
| Gross operating margin | 9900 | €364,543 | €384,538 | +€19,995 | +5.5% |
| Operating profit (loss) | 9901 | €140,139 | €134,544 | -€5,595 | -4.0% |
| Financial income | 75/76B | €119 | €11 | -€108 | -91.1% |
| Recurring financial income | 75 | €119 | €11 | -€108 | -91.1% |
| Financial charges | 65/66B | €15,128 | €11,646 | -€3,482 | -23.0% |
| Recurring financial charges | 65 | €15,128 | €11,646 | -€3,482 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €125,129 | €122,909 | -€2,220 | -1.8% |
| Income taxes | 67/77 | €32,155 | €32,012 | -€143 | -0.4% |
| Profit (loss) for the period | 9904 | €92,974 | €90,897 | -€2,077 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €92,974 | €90,897 | -€2,077 | -2.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.