TIMETRONICS: 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.
TIMETRONICS
Largest movements
- Receivables within one year -€151,935
down €151,935 (-46.1%), from €329,500 to €177,565
- Tangible fixed assets -€43,906
down €43,906 (-12.3%), from €355,960 to €312,054
- Reserves -€281,620
down €281,620 (-68.8%), from €409,089 to €127,468
of which Distributable reserves: -€281,620
- Debts after one year +€74,157
up €74,157 (+38.1%), from €194,729 to €268,886
- Tax, wage and social debts +€7,570
up €7,570 (+126.2%), from €6,000 to €13,570
- Financial charges +€9,688
up €9,688 (+1173.9%), from €825 to €10,513
- Financial income +€8,948
new in 2025: €8,948
- Gross operating margin +€7,138
up €7,138 (+10.6%), from €67,604 to €74,741
- Taxes +€1,696
up €1,696 (+28.6%), from €5,937 to €7,633
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 | €689,932 | €492,790 | -€197,143 | -28.6% |
| Fixed assets | 21/28 | €355,960 | €312,054 | -€43,906 | -12.3% |
| Tangible fixed assets | 22/27 | €355,960 | €312,054 | -€43,906 | -12.3% |
| Land and buildings | 22 | €355,960 | €312,054 | -€43,906 | -12.3% |
| Current assets | 29/58 | €333,972 | €180,735 | -€153,237 | -45.9% |
| Amounts receivable within one year | 40/41 | €329,500 | €177,565 | -€151,935 | -46.1% |
| Other amounts receivable | 41 | €329,500 | €177,565 | -€151,935 | -46.1% |
| Cash at bank and in hand | 54/58 | €4,036 | €3,170 | -€865 | -21.4% |
| Deferred charges and accrued income | 490/1 | €436 | - | -€436 | |
| Total equity and liabilities | 10/49 | €689,932 | €492,790 | -€197,143 | -28.6% |
| Equity | 10/15 | €470,589 | €188,968 | -€281,620 | -59.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €409,089 | €127,468 | -€281,620 | -68.8% |
| Non-distributable reserves | 130/1 | €106,500 | €106,500 | = | 0.0% |
| Legal reserve | 130 | €106,500 | €106,500 | = | 0.0% |
| Distributable reserves | 133 | €302,589 | €20,968 | -€281,620 | -93.1% |
| Amounts payable | 17/49 | €219,344 | €303,821 | +€84,478 | +38.5% |
| Amounts payable after more than one year | 17 | €194,729 | €268,886 | +€74,157 | +38.1% |
| Financial debts | 170/4 | €194,729 | €268,886 | +€74,157 | +38.1% |
| Amounts payable within one year | 42/48 | €23,405 | €32,819 | +€9,414 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €15,271 | €17,137 | +€1,866 | +12.2% |
| Trade debts | 44 | €2,134 | €2,112 | -€22 | -1.0% |
| Suppliers | 440/4 | €2,134 | €2,112 | -€22 | -1.0% |
| Taxes, remuneration and social security | 45 | €6,000 | €13,570 | +€7,570 | +126.2% |
| Taxes | 450/3 | €6,000 | €13,570 | +€7,570 | +126.2% |
| Accrued charges and deferred income | 492/3 | €1,210 | €2,116 | +€906 | +74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,906 | €43,906 | = | 0.0% |
| Other operating charges | 640/8 | €1,086 | €669 | -€416 | -38.3% |
| Gross operating margin | 9900 | €67,604 | €74,741 | +€7,138 | +10.6% |
| Operating profit (loss) | 9901 | €22,612 | €30,166 | +€7,554 | +33.4% |
| Financial income | 75/76B | - | €8,948 | +€8,948 | |
| Recurring financial income | 75 | - | €8,948 | +€8,948 | |
| Financial charges | 65/66B | €825 | €10,513 | +€9,688 | +1173.9% |
| Recurring financial charges | 65 | €825 | €10,513 | +€9,688 | +1173.9% |
| Profit (loss) for the period before taxes | 9903 | €21,787 | €28,601 | +€6,814 | +31.3% |
| Income taxes | 67/77 | €5,937 | €7,633 | +€1,696 | +28.6% |
| Profit (loss) for the period | 9904 | €15,850 | €20,968 | +€5,118 | +32.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,850 | €20,968 | +€5,118 | +32.3% |
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 7 October 2026 via checked.be.