TIMELSEN: 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.
TIMELSEN
Largest movements
- Tangible fixed assets +€32,518
up €32,518 (+15.5%), from €209,414 to €241,932
of which Furniture and vehicles: +€42,413
- Receivables within one year +€14,787
up €14,787 (+30.6%), from €48,400 to €63,187
of which Trade receivables: +€7,656
- Cash +€9,963
up €9,963 (+12.7%), from €78,606 to €88,569
mainly Other debts (+€132,744) and Net result for the year (+€83,387)
- Other debts +€132,744
up €132,744 (+65.9%), from €201,434 to €334,179
- Profit (loss) carried forward -€76,614
down €76,614 (-77.6%), from €98,791 to €22,178
- Gross operating margin -€12,539
down €12,539 (-8.8%), from €142,333 to €129,794
- Taxes -€7,121
down €7,121 (-26.4%), from €26,990 to €19,869
- Depreciation +€6,895
up €6,895 (+42.6%), from €16,182 to €23,077
- Financial income -€1,940
down €1,940 (-99.9%), from €1,941 to €1
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 | €336,420 | €393,688 | +€57,268 | +17.0% |
| Fixed assets | 21/28 | €209,414 | €241,932 | +€32,518 | +15.5% |
| Tangible fixed assets | 22/27 | €209,414 | €241,932 | +€32,518 | +15.5% |
| Land and buildings | 22 | €208,291 | €192,269 | -€16,022 | -7.7% |
| Plant, machinery and equipment | 23 | €1,123 | €7,250 | +€6,127 | +545.5% |
| Furniture and vehicles | 24 | - | €42,413 | +€42,413 | |
| Current assets | 29/58 | €127,006 | €151,756 | +€24,750 | +19.5% |
| Amounts receivable within one year | 40/41 | €48,400 | €63,187 | +€14,787 | +30.6% |
| Trade receivables | 40 | €48,400 | €56,056 | +€7,656 | +15.8% |
| Other amounts receivable | 41 | - | €7,131 | +€7,131 | |
| Cash at bank and in hand | 54/58 | €78,606 | €88,569 | +€9,963 | +12.7% |
| Total equity and liabilities | 10/49 | €336,420 | €393,688 | +€57,268 | +17.0% |
| Equity | 10/15 | €117,391 | €40,778 | -€76,614 | -65.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €98,791 | €22,178 | -€76,614 | -77.6% |
| Amounts payable | 17/49 | €219,029 | €352,911 | +€133,881 | +61.1% |
| Amounts payable within one year | 42/48 | €218,979 | €352,911 | +€133,931 | +61.2% |
| Trade debts | 44 | €685 | €1,233 | +€548 | +80.0% |
| Suppliers | 440/4 | €685 | €1,233 | +€548 | +80.0% |
| Taxes, remuneration and social security | 45 | €16,860 | €17,499 | +€639 | +3.8% |
| Taxes | 450/3 | €16,860 | €17,499 | +€639 | +3.8% |
| Other amounts payable | 47/48 | €201,434 | €334,179 | +€132,744 | +65.9% |
| Accrued charges and deferred income | 492/3 | €50 | €0 | -€50 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,182 | €23,077 | +€6,895 | +42.6% |
| Other operating charges | 640/8 | €2,406 | €2,360 | -€46 | -1.9% |
| Gross operating margin | 9900 | €142,333 | €129,794 | -€12,539 | -8.8% |
| Operating profit (loss) | 9901 | €123,745 | €104,357 | -€19,388 | -15.7% |
| Financial income | 75/76B | €1,941 | €1 | -€1,940 | -99.9% |
| Recurring financial income | 75 | €1,941 | €1 | -€1,940 | -99.9% |
| Financial charges | 65/66B | €718 | €1,103 | +€385 | +53.6% |
| Recurring financial charges | 65 | €718 | €1,103 | +€385 | +53.6% |
| Profit (loss) for the period before taxes | 9903 | €124,968 | €103,256 | -€21,713 | -17.4% |
| Income taxes | 67/77 | €26,990 | €19,869 | -€7,121 | -26.4% |
| Profit (loss) for the period | 9904 | €97,978 | €83,387 | -€14,592 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €97,978 | €83,387 | -€14,592 | -14.9% |
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 12 October 2026 via checked.be.