TIMEX: 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.
TIMEX
Largest movements
- Receivables within one year +€354,660
up €354,660 (+48.5%), from €730,801 to €1.1m
of which Trade receivables: +€336,987
- Tangible fixed assets -€180,065
down €180,065 (-44.2%), from €406,954 to €226,889
of which Furniture and vehicles: -€167,755
- Stocks and contracts -€22,583
down €22,583 (-37.5%), from €60,178 to €37,595
- Cash -€17,254
down €17,254 (-31.7%), from €54,490 to €37,237
mainly Receivables within one year (-€354,660) and Net result for the year (-€66,578)
- Other debts +€235,588
up €235,588 (+134.2%), from €175,495 to €411,083
- Profit (loss) carried forward -€66,578
down €66,578 (-24.7%), from €269,889 to €203,311
- Trade debts +€35,333
up €35,333 (+20.6%), from €171,326 to €206,659
- Tax, wage and social debts -€31,152
down €31,152 (-11.1%), from €281,556 to €250,404
of which Remuneration and social security: -€113,905
- Debts after one year -€21,809
down €21,809 (-22.9%), from €95,441 to €73,632
- Taxes +€162,250
up €162,250 (+448.1%), from €36,205 to €198,454
- Depreciation -€42,988
down €42,988 (-35.7%), from €120,317 to €77,328
- Other operating charges +€36,576
up €36,576 (+47.6%), from €76,813 to €113,389
- Gross operating margin +€14,826
up €14,826 (+4.5%), from €326,089 to €340,914
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 | €1,265,768 | €1,403,684 | +€137,917 | +10.9% |
| Fixed assets | 21/28 | €420,298 | €243,092 | -€177,206 | -42.2% |
| Intangible fixed assets | 21 | - | €2,809 | +€2,809 | |
| Tangible fixed assets | 22/27 | €406,954 | €226,889 | -€180,065 | -44.2% |
| Land and buildings | 22 | €101,710 | €88,783 | -€12,928 | -12.7% |
| Plant, machinery and equipment | 23 | €3,470 | €2,476 | -€994 | -28.6% |
| Furniture and vehicles | 24 | €300,475 | €132,720 | -€167,755 | -55.8% |
| Other tangible fixed assets | 26 | €1,300 | €2,911 | +€1,611 | +123.9% |
| Financial fixed assets | 28 | €13,344 | €13,394 | +€50 | +0.4% |
| Current assets | 29/58 | €845,470 | €1,160,593 | +€315,123 | +37.3% |
| Stocks and contracts in progress | 3 | €60,178 | €37,595 | -€22,583 | -37.5% |
| Stocks | 30/36 | €60,178 | €37,595 | -€22,583 | -37.5% |
| Amounts receivable within one year | 40/41 | €730,801 | €1,085,462 | +€354,660 | +48.5% |
| Trade receivables | 40 | €672,355 | €1,009,342 | +€336,987 | +50.1% |
| Other amounts receivable | 41 | €58,447 | €76,120 | +€17,673 | +30.2% |
| Cash at bank and in hand | 54/58 | €54,490 | €37,237 | -€17,254 | -31.7% |
| Deferred charges and accrued income | 490/1 | - | €300 | +€300 | |
| Total equity and liabilities | 10/49 | €1,265,768 | €1,403,684 | +€137,917 | +10.9% |
| Equity | 10/15 | €506,675 | €440,097 | -€66,578 | -13.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €186,786 | €186,786 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €181,786 | €181,786 | = | 0.0% |
| Profit (loss) carried forward | 14 | €269,889 | €203,311 | -€66,578 | -24.7% |
| Amounts payable | 17/49 | €759,093 | €963,587 | +€204,494 | +26.9% |
| Amounts payable after more than one year | 17 | €95,441 | €73,632 | -€21,809 | -22.9% |
| Financial debts | 170/4 | €95,441 | €73,632 | -€21,809 | -22.9% |
| Amounts payable within one year | 42/48 | €650,652 | €889,956 | +€239,303 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €22,275 | €21,809 | -€466 | -2.1% |
| Trade debts | 44 | €171,326 | €206,659 | +€35,333 | +20.6% |
| Suppliers | 440/4 | €171,326 | €206,659 | +€35,333 | +20.6% |
| Taxes, remuneration and social security | 45 | €281,556 | €250,404 | -€31,152 | -11.1% |
| Taxes | 450/3 | €167,651 | €250,404 | +€82,753 | +49.4% |
| Remuneration and social security | 454/9 | €113,905 | - | -€113,905 | |
| Other amounts payable | 47/48 | €175,495 | €411,083 | +€235,588 | +134.2% |
| Accrued charges and deferred income | 492/3 | €13,000 | - | -€13,000 | |
| Non-recurring operating income | 76A | €16,341 | - | -€16,341 | |
| Remuneration, social security and pensions | 62 | -€2,140 | - | +€2,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,317 | €77,328 | -€42,988 | -35.7% |
| Other operating charges | 640/8 | €76,813 | €113,389 | +€36,576 | +47.6% |
| Non-recurring operating charges | 66A | €4,587 | €9,152 | +€4,565 | +99.5% |
| Gross operating margin | 9900 | €326,089 | €340,914 | +€14,826 | +4.5% |
| Operating profit (loss) | 9901 | €126,511 | €141,044 | +€14,533 | +11.5% |
| Financial income | 75/76B | €17 | €2,700 | +€2,683 | +16262.8% |
| Recurring financial income | 75 | €17 | €2,700 | +€2,683 | +16262.8% |
| Financial charges | 65/66B | €8,537 | €11,867 | +€3,330 | +39.0% |
| Recurring financial charges | 65 | €8,537 | €11,867 | +€3,330 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €117,991 | €131,877 | +€13,886 | +11.8% |
| Income taxes | 67/77 | €36,205 | €198,454 | +€162,250 | +448.1% |
| Profit (loss) for the period | 9904 | €81,786 | -€66,578 | -€148,364 | |
| Profit (loss) for the period to be appropriated | 9905 | €81,786 | -€66,578 | -€148,364 |
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 2 October 2026 via checked.be.