Timefold: 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.
Timefold
Largest movements
- Current investments -€2.8m
down €2.8m (-84.5%), from €3.3m to €510,638
- Intangible fixed assets +€1.0m
up €1.0m (+92.3%), from €1.1m to €2.2m
- Cash -€705,357
down €705,357 (-48.6%), from €1.5m to €746,243
mainly Net result for the year (-€2.8m) and Investment in fixed assets (net) (-€1.5m)
- Receivables within one year +€375,369
up €375,369 (+66.7%), from €563,164 to €938,533
of which Trade receivables: +€309,955
- Deferred charges and accrued income +€70,044
up €70,044 (+199.0%), from €35,199 to €105,243
- Profit (loss) carried forward -€2.8m
down €2.8m (-112.4%), from -€2.5m to -€5.3m
- Accrued charges and deferred income +€662,180
up €662,180 (+85.6%), from €773,607 to €1.4m
- Trade debts +€165,374
up €165,374 (+53.1%), from €311,238 to €476,612
- Staff costs +€398,295
up €398,295 (+78.6%), from €506,742 to €905,037
- Depreciation +€383,292
up €383,292 (+5280.8%), from €7,258 to €390,551
- Gross operating margin -€345,581
down €345,581 (-28.8%), from -€1.2m to -€1.5m
- Financial charges +€63,974
up €63,974 (+1442.5%), from €4,435 to €68,410
- Financial income -€20,886
down €20,886 (-29.8%), from €69,987 to €49,100
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 | €6,635,056 | €4,699,620 | -€1.9m | -29.2% |
| Fixed assets | 21/28 | €1,242,334 | €2,308,335 | +€1.1m | +85.8% |
| Intangible fixed assets | 21 | €1,128,995 | €2,170,856 | +€1.0m | +92.3% |
| Tangible fixed assets | 22/27 | €25,876 | €26,986 | +€1,110 | +4.3% |
| Furniture and vehicles | 24 | €25,876 | €26,986 | +€1,110 | +4.3% |
| Financial fixed assets | 28 | €87,463 | €110,493 | +€23,030 | +26.3% |
| Current assets | 29/58 | €5,392,722 | €2,391,285 | -€3.0m | -55.7% |
| Amounts receivable after more than one year | 29 | €42,758 | €90,627 | +€47,869 | +112.0% |
| Other amounts receivable | 291 | €42,758 | €90,627 | +€47,869 | +112.0% |
| Amounts receivable within one year | 40/41 | €563,164 | €938,533 | +€375,369 | +66.7% |
| Trade receivables | 40 | €21,230 | €331,185 | +€309,955 | +1460.0% |
| Other amounts receivable | 41 | €541,934 | €607,348 | +€65,414 | +12.1% |
| Current investments | 50/53 | €3,300,000 | €510,638 | -€2.8m | -84.5% |
| Cash at bank and in hand | 54/58 | €1,451,601 | €746,243 | -€705,357 | -48.6% |
| Deferred charges and accrued income | 490/1 | €35,199 | €105,243 | +€70,044 | +199.0% |
| Total equity and liabilities | 10/49 | €6,635,056 | €4,699,620 | -€1.9m | -29.2% |
| Equity | 10/15 | €5,502,240 | €2,689,632 | -€2.8m | -51.1% |
| Contributions | 10/11 | €8,004,016 | €8,004,016 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,501,776 | -€5,314,384 | -€2.8m | -112.4% |
| Amounts payable | 17/49 | €1,132,815 | €2,009,988 | +€877,172 | +77.4% |
| Amounts payable within one year | 42/48 | €359,209 | €574,201 | +€214,992 | +59.9% |
| Trade debts | 44 | €311,238 | €476,612 | +€165,374 | +53.1% |
| Suppliers | 440/4 | €311,238 | €476,612 | +€165,374 | +53.1% |
| Taxes, remuneration and social security | 45 | €47,872 | €97,117 | +€49,244 | +102.9% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €47,872 | €97,117 | +€49,244 | +102.9% |
| Other amounts payable | 47/48 | €98 | €473 | +€374 | +380.7% |
| Accrued charges and deferred income | 492/3 | €773,607 | €1,435,787 | +€662,180 | +85.6% |
| Remuneration, social security and pensions | 62 | €506,742 | €905,037 | +€398,295 | +78.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,258 | €390,551 | +€383,292 | +5280.8% |
| Other operating charges | 640/8 | €2,339 | €1,143 | -€1,197 | -51.2% |
| Non-recurring operating charges | 66A | €4,780 | €0 | -€4,780 | -100.0% |
| Gross operating margin | 9900 | -€1,198,857 | -€1,544,437 | -€345,581 | -28.8% |
| Operating profit (loss) | 9901 | -€1,719,976 | -€2,841,168 | -€1.1m | -65.2% |
| Financial income | 75/76B | €69,987 | €49,100 | -€20,886 | -29.8% |
| Recurring financial income | 75 | €69,987 | €49,100 | -€20,886 | -29.8% |
| Financial charges | 65/66B | €4,435 | €68,410 | +€63,974 | +1442.5% |
| Recurring financial charges | 65 | €4,435 | €68,410 | +€63,974 | +1442.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,654,425 | -€2,860,477 | -€1.2m | -72.9% |
| Income taxes | 67/77 | -€42,758 | -€47,869 | -€5,111 | -12.0% |
| Profit (loss) for the period | 9904 | -€1,611,667 | -€2,812,608 | -€1.2m | -74.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,611,667 | -€2,812,608 | -€1.2m | -74.5% |
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 9 October 2026 via checked.be.