Timen: 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.
Timen
Largest movements
- Cash +€46,716
up €46,716 (+116.5%), from €40,103 to €86,819
mainly Net result for the year (+€119,460) and Depreciation (+€31,093)
- Stocks and contracts +€39,222
up €39,222 (+48.3%), from €81,185 to €120,407
- Receivables within one year +€35,141
up €35,141 (+82.7%), from €42,490 to €77,630
of which Trade receivables: +€35,377
- Tangible fixed assets -€30,268
down €30,268 (-39.7%), from €76,238 to €45,970
of which Plant, machinery and equipment: -€16,517
- Intangible fixed assets +€21,043
new in 2025: €21,043
- Reserves +€87,460
up €87,460 (+289.0%), from €30,263 to €117,723
- Other debts -€28,269
down €28,269 (-32.6%), from €86,779 to €58,510
- Tax, wage and social debts +€25,275
up €25,275 (+117.6%), from €21,489 to €46,764
- Advances received +€22,517
up €22,517 (+55.6%), from €40,488 to €63,005
- Trade debts +€12,080
up €12,080 (+43.9%), from €27,511 to €39,591
- Gross operating margin +€118,475
up €118,475 (+194.6%), from €60,872 to €179,347
- Taxes +€17,285
up €17,285 (+311.8%), from €5,544 to €22,830
- Depreciation +€3,943
up €3,943 (+14.5%), from €27,150 to €31,093
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 | €241,930 | €360,993 | +€119,063 | +49.2% |
| Fixed assets | 21/28 | €76,238 | €67,014 | -€9,224 | -12.1% |
| Intangible fixed assets | 21 | - | €21,043 | +€21,043 | |
| Tangible fixed assets | 22/27 | €76,238 | €45,970 | -€30,268 | -39.7% |
| Plant, machinery and equipment | 23 | €34,964 | €18,448 | -€16,517 | -47.2% |
| Furniture and vehicles | 24 | €19,398 | €10,527 | -€8,871 | -45.7% |
| Other tangible fixed assets | 26 | €21,876 | €16,996 | -€4,880 | -22.3% |
| Current assets | 29/58 | €165,693 | €293,979 | +€128,287 | +77.4% |
| Stocks and contracts in progress | 3 | €81,185 | €120,407 | +€39,222 | +48.3% |
| Stocks | 30/36 | €81,185 | €120,407 | +€39,222 | +48.3% |
| Amounts receivable within one year | 40/41 | €42,490 | €77,630 | +€35,141 | +82.7% |
| Trade receivables | 40 | €25,153 | €60,530 | +€35,377 | +140.6% |
| Other amounts receivable | 41 | €17,336 | €17,100 | -€236 | -1.4% |
| Cash at bank and in hand | 54/58 | €40,103 | €86,819 | +€46,716 | +116.5% |
| Deferred charges and accrued income | 490/1 | €1,916 | €9,123 | +€7,208 | +376.3% |
| Total equity and liabilities | 10/49 | €241,930 | €360,993 | +€119,063 | +49.2% |
| Equity | 10/15 | €35,263 | €122,723 | +€87,460 | +248.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,263 | €117,723 | +€87,460 | +289.0% |
| Distributable reserves | 133 | €30,263 | €117,723 | +€87,460 | +289.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €206,667 | €238,270 | +€31,603 | +15.3% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €176,667 | €208,270 | +€31,603 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €400 | €400 | = | 0.0% |
| Trade debts | 44 | €27,511 | €39,591 | +€12,080 | +43.9% |
| Suppliers | 440/4 | €27,511 | €39,591 | +€12,080 | +43.9% |
| Advances received on contracts in progress | 46 | €40,488 | €63,005 | +€22,517 | +55.6% |
| Taxes, remuneration and social security | 45 | €21,489 | €46,764 | +€25,275 | +117.6% |
| Taxes | 450/3 | €21,489 | €46,764 | +€25,275 | +117.6% |
| Other amounts payable | 47/48 | €86,779 | €58,510 | -€28,269 | -32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,150 | €31,093 | +€3,943 | +14.5% |
| Other operating charges | 640/8 | €6,260 | €6,568 | +€309 | +4.9% |
| Gross operating margin | 9900 | €60,872 | €179,347 | +€118,475 | +194.6% |
| Operating profit (loss) | 9901 | €27,462 | €141,686 | +€114,224 | +415.9% |
| Financial income | 75/76B | €1,738 | €1,805 | +€67 | +3.9% |
| Recurring financial income | 75 | €1,738 | €1,805 | +€67 | +3.9% |
| Financial charges | 65/66B | €2,099 | €1,202 | -€897 | -42.7% |
| Recurring financial charges | 65 | €2,099 | €1,202 | -€897 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | €27,101 | €142,289 | +€115,188 | +425.0% |
| Income taxes | 67/77 | €5,544 | €22,830 | +€17,285 | +311.8% |
| Profit (loss) for the period | 9904 | €21,557 | €119,460 | +€97,903 | +454.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,557 | €119,460 | +€97,903 | +454.2% |
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 3 October 2026 via checked.be.