TIMEHOLE: 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.
TIMEHOLE
Largest movements
- Cash +€33,606
up €33,606 (+186.4%), from €18,031 to €51,637
mainly Depreciation (+€26,159) and Receivables within one year (+€16,272)
- Tangible fixed assets -€21,142
down €21,142 (-22.2%), from €95,319 to €74,177
of which Furniture and vehicles: -€20,613
- Receivables within one year -€16,272
down €16,272 (-44.2%), from €36,812 to €20,540
of which Trade receivables: -€18,639
- Deferred charges and accrued income -€4,355
down €4,355 (-63.0%), from €6,916 to €2,561
- Other debts +€13,184
up €13,184 (+220.9%), from €5,968 to €19,153
- Debts after one year -€11,898
down €11,898 (-29.7%), from €40,031 to €28,133
- Reserves -€8,420
down €8,420 (-11.3%), from €74,744 to €66,324
of which Distributable reserves: -€8,420
- Financial income -€5,397
down €5,397 (-99.9%), from €5,405 to €8
- Gross operating margin -€5,081
down €5,081 (-11.3%), from €44,849 to €39,768
- Depreciation +€4,665
up €4,665 (+21.7%), from €21,494 to €26,159
- Taxes -€4,423
down €4,423 (-58.5%), from €7,556 to €3,133
- Other operating charges -€3,286
down €3,286 (-86.5%), from €3,799 to €513
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 | €157,078 | €148,915 | -€8,163 | -5.2% |
| Fixed assets | 21/28 | €95,319 | €74,177 | -€21,142 | -22.2% |
| Tangible fixed assets | 22/27 | €95,319 | €74,177 | -€21,142 | -22.2% |
| Plant, machinery and equipment | 23 | €5,756 | €6,176 | +€421 | +7.3% |
| Furniture and vehicles | 24 | €86,155 | €65,542 | -€20,613 | -23.9% |
| Other tangible fixed assets | 26 | €3,408 | €2,459 | -€949 | -27.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €61,759 | €74,738 | +€12,978 | +21.0% |
| Amounts receivable within one year | 40/41 | €36,812 | €20,540 | -€16,272 | -44.2% |
| Trade receivables | 40 | €36,812 | €18,173 | -€18,639 | -50.6% |
| Other amounts receivable | 41 | €0 | €2,367 | +€2,367 | |
| Cash at bank and in hand | 54/58 | €18,031 | €51,637 | +€33,606 | +186.4% |
| Deferred charges and accrued income | 490/1 | €6,916 | €2,561 | -€4,355 | -63.0% |
| Total equity and liabilities | 10/49 | €157,078 | €148,915 | -€8,163 | -5.2% |
| Equity | 10/15 | €87,586 | €79,166 | -€8,420 | -9.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €74,744 | €66,324 | -€8,420 | -11.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €74,744 | €66,324 | -€8,420 | -11.3% |
| Profit (loss) carried forward | 14 | €442 | €442 | = | 0.0% |
| Amounts payable | 17/49 | €69,492 | €69,749 | +€256 | +0.4% |
| Amounts payable after more than one year | 17 | €40,031 | €28,133 | -€11,898 | -29.7% |
| Financial debts | 170/4 | €40,031 | €28,133 | -€11,898 | -29.7% |
| Amounts payable within one year | 42/48 | €29,461 | €41,615 | +€12,154 | +41.3% |
| Current portion of amounts payable after more than one year | 42 | €11,541 | €11,898 | +€357 | +3.1% |
| Trade debts | 44 | €3,324 | €2,036 | -€1,289 | -38.8% |
| Suppliers | 440/4 | €3,324 | €2,036 | -€1,289 | -38.8% |
| Taxes, remuneration and social security | 45 | €8,628 | €8,529 | -€98 | -1.1% |
| Taxes | 450/3 | €8,628 | €8,529 | -€98 | -1.1% |
| Other amounts payable | 47/48 | €5,968 | €19,153 | +€13,184 | +220.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,494 | €26,159 | +€4,665 | +21.7% |
| Other operating charges | 640/8 | €3,799 | €513 | -€3,286 | -86.5% |
| Gross operating margin | 9900 | €44,849 | €39,768 | -€5,081 | -11.3% |
| Operating profit (loss) | 9901 | €19,556 | €13,096 | -€6,460 | -33.0% |
| Financial income | 75/76B | €5,405 | €8 | -€5,397 | -99.9% |
| Recurring financial income | 75 | €5,405 | €8 | -€5,397 | -99.9% |
| Financial charges | 65/66B | €1,630 | €1,697 | +€67 | +4.1% |
| Recurring financial charges | 65 | €1,630 | €1,697 | +€67 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €23,331 | €11,407 | -€11,924 | -51.1% |
| Income taxes | 67/77 | €7,556 | €3,133 | -€4,423 | -58.5% |
| Profit (loss) for the period | 9904 | €15,775 | €8,274 | -€7,501 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,775 | €8,274 | -€7,501 | -47.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.