TIMELESS: 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.
What changed
TIMELESS
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.7m
2024 · €25,176+€2.6m
Equity
€3.3m
2024 · €603,771+€2.7m
Cash
€83,744
2024 · €808+€82,936
Balance sheet total
€6.2m
2024 · €1.5m+€4.7m
Largest movements
Assets
- Receivables within one year +€2.5m
up €2.5m (+971.4%), from €257,112 to €2.8m
of which Other amounts receivable: +€2.4m
- Tangible fixed assets +€1.9m
up €1.9m (+151.7%), from €1.3m to €3.2m
of which Leasing and similar rights: +€1.3m
- Stocks and contracts +€165,000
new in 2025: €165,000
- Cash +€82,936
up €82,936 (+10264.4%), from €808 to €83,744
mainly Net result for the year (+€2.7m) and Provisions (+€942,358)
Equity and liabilities
- Reserves +€2.8m
up €2.8m (+1690.1%), from €165,311 to €3.0m
of which Tax-exempt reserves: +€2.8m
- Provisions +€942,358
new in 2025: €942,358
- Debts after one year +€755,113
new in 2025: €755,113
- Current portion of long-term debt +€448,062
new in 2025: €448,062
- Other debts -€241,280
down €241,280 (-45.0%), from €535,724 to €294,444
Income statement
- Gross operating margin +€3.8m
up €3.8m (+1614.2%), from €234,719 to €4.0m
- Depreciation +€208,703
up €208,703 (+10909.7%), from €1,913 to €210,616
- Staff costs -€66,726
down €66,726 (-56.5%), from €118,013 to €51,287
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.
Result 2024
€25,176
Gross operating margin
+€3.8m
Staff costs
+€66,726
Depreciation
-€208,703
Other operating charges
-€29,496
Financial income
+€354
Financial charges
-€39,893
Taxes
+€14,125
Deferred taxes and other
-€942,358
Result 2025
€2.7m
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.
From operations
+€1.0m
Investment
-€2.1m
Financing
+€1.2m
Cash 2024
€808
From operations (derived)
+€1.0m
Net result for the year
+€2.7m
Depreciation
+€210,616
Stocks and contracts
-€165,000
Receivables within one year
-€2.5m
Deferred charges and accrued income
-€1,867
Provisions
+€942,358
Trade debts
+€72,982
Tax, wage and social debts
-€28,583
Other debts
-€241,280
Accrued charges and deferred income
+€38,424
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€1.2m
Debts after one year
+€755,113
Current portion of long-term debt
+€448,062
Contributions, distributions and other
+€0
Cash 2025
€83,744
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,521,744 | €6,183,630 | +€4.7m | +306.4% |
| Fixed assets | 21/28 | €1,262,363 | €3,176,960 | +€1.9m | +151.7% |
| Tangible fixed assets | 22/27 | €1,262,301 | €3,176,960 | +€1.9m | +151.7% |
| Land and buildings | 22 | €1,080,587 | €886,848 | -€193,739 | -17.9% |
| Plant, machinery and equipment | 23 | €181,714 | €211,238 | +€29,524 | +16.2% |
| Furniture and vehicles | 24 | - | €816,582 | +€816,582 | |
| Leasing and similar rights | 25 | - | €1,262,292 | +€1.3m | |
| Financial fixed assets | 28 | €62 | - | -€62 | |
| Current assets | 29/58 | €259,381 | €3,006,670 | +€2.7m | +1059.2% |
| Stocks and contracts in progress | 3 | - | €165,000 | +€165,000 | |
| Stocks | 30/36 | - | €165,000 | +€165,000 | |
| Amounts receivable within one year | 40/41 | €257,112 | €2,754,598 | +€2.5m | +971.4% |
| Trade receivables | 40 | €257,112 | €402,753 | +€145,641 | +56.6% |
| Other amounts receivable | 41 | - | €2,351,845 | +€2.4m | |
| Cash at bank and in hand | 54/58 | €808 | €83,744 | +€82,936 | +10264.4% |
| Deferred charges and accrued income | 490/1 | €1,461 | €3,328 | +€1,867 | +127.8% |
| Total equity and liabilities | 10/49 | €1,521,744 | €6,183,630 | +€4.7m | +306.4% |
| Equity | 10/15 | €603,771 | €3,278,581 | +€2.7m | +443.0% |
| Contributions | 10/11 | €62,445 | €62,445 | -€0 | 0.0% |
| Capital | 10 | €62,445 | €62,445 | -€0 | 0.0% |
| Issued capital | 100 | €62,445 | €62,445 | -€0 | 0.0% |
| Reserves | 13 | €165,311 | €2,959,281 | +€2.8m | +1690.1% |
| Non-distributable reserves | 130/1 | €15,121 | €15,121 | +€0 | 0.0% |
| Legal reserve | 130 | €15,121 | €15,121 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €33,104 | €2,827,073 | +€2.8m | +8440.0% |
| Distributable reserves | 133 | €117,086 | €117,086 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €376,015 | €256,855 | -€119,160 | -31.7% |
| Provisions and deferred taxes | 16 | - | €942,358 | +€942,358 | |
| Deferred taxes | 168 | - | €942,358 | +€942,358 | |
| Amounts payable | 17/49 | €917,973 | €1,962,691 | +€1.0m | +113.8% |
| Amounts payable after more than one year | 17 | - | €755,113 | +€755,113 | |
| Financial debts | 170/4 | - | €755,113 | +€755,113 | |
| Amounts payable within one year | 42/48 | €915,748 | €1,166,929 | +€251,181 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | - | €448,062 | +€448,062 | |
| Trade debts | 44 | €336,908 | €409,890 | +€72,982 | +21.7% |
| Suppliers | 440/4 | €336,908 | €409,890 | +€72,982 | +21.7% |
| Taxes, remuneration and social security | 45 | €43,116 | €14,533 | -€28,583 | -66.3% |
| Taxes | 450/3 | €22,469 | €14,533 | -€7,936 | -35.3% |
| Remuneration and social security | 454/9 | €20,647 | - | -€20,647 | |
| Other amounts payable | 47/48 | €535,724 | €294,444 | -€241,280 | -45.0% |
| Accrued charges and deferred income | 492/3 | €2,225 | €40,649 | +€38,424 | +1726.9% |
| Remuneration, social security and pensions | 62 | €118,013 | €51,287 | -€66,726 | -56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,913 | €210,616 | +€208,703 | +10909.7% |
| Other operating charges | 640/8 | €71,493 | €100,989 | +€29,496 | +41.3% |
| Gross operating margin | 9900 | €234,719 | €4,023,599 | +€3.8m | +1614.2% |
| Operating profit (loss) | 9901 | €43,300 | €3,660,707 | +€3.6m | +8354.3% |
| Financial income | 75/76B | - | €354 | +€354 | |
| Recurring financial income | 75 | - | €354 | +€354 | |
| Financial charges | 65/66B | €3,798 | €43,691 | +€39,893 | +1050.4% |
| Recurring financial charges | 65 | €3,798 | €43,691 | +€39,893 | +1050.4% |
| Profit (loss) for the period before taxes | 9903 | €39,502 | €3,617,369 | +€3.6m | +9057.4% |
| Transfer from deferred taxes | 780 | - | €37,095 | +€37,095 | |
| Transfer to deferred taxes | 680 | - | €979,453 | +€979,453 | |
| Income taxes | 67/77 | €14,326 | €202 | -€14,125 | -98.6% |
| Profit (loss) for the period | 9904 | €25,176 | €2,674,810 | +€2.6m | +10524.4% |
| Transfer from tax-exempt reserves | 789 | - | €144,390 | +€144,390 | |
| Transfer to tax-exempt reserves | 689 | - | €2,938,360 | +€2.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €25,176 | -€119,160 | -€144,336 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.