Timikor: what changed
What changed
Timikor
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€64,663
2024 · €41,121+€23,542
Equity
€155,890
2024 · €91,228+€64,663
Cash
€1,576
2024 · €28,980-€27,404
Balance sheet total
€763,135
2024 · €734,282+€28,853
Largest movements
Assets
- Receivables within one year +€65,872
up €65,872 (+139%), from €47,400 to €113,271
of which Trade receivables: +€65,061
- Cash -€27,404
down €27,404 (-94.6%), from €28,980 to €1,576
mainly Receivables within one year (-€65,872) and Debts after one year (-€49,662)
- Tangible fixed assets -€9,614
down €9,614 (-1.5%), from €657,902 to €648,287
of which Land and buildings: -€24,866
Equity and liabilities
- Reserves +€64,663
up €64,663 (+79.6%), from €81,228 to €145,890
- Debts after one year -€49,662
down €49,662 (-8.8%), from €566,915 to €517,253
- Short-term financial debts +€9,089
new in 2025: €9,089
Income statement
- Gross operating margin +€28,733
up €28,733 (+30.7%), from €93,476 to €122,209
- Taxes +€5,796
up €5,796 (+54.8%), from €10,568 to €16,364
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€41,121
Gross operating margin
+€28,733
Other operating charges
+€369
Financial income
-€692
Financial charges
+€928
Taxes
-€5,796
Result 2025
€64,663
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€27,568
Investment
-€15,252
Financing
-€39,720
Cash 2024
€28,980
From operations (derived)
+€27,568
Net result for the year
+€64,663
Depreciation
+€24,866
Receivables within one year
-€65,872
Trade debts
+€1,205
Tax, wage and social debts
-€2,263
Other debts
+€5,367
Accrued charges and deferred income
-€399
Investment (derived)
-€15,252
Investment in fixed assets (net)
-€15,252
Financing
-€39,720
Debts after one year
-€49,662
Current portion of long-term debt
+€853
Short-term financial debts
+€9,089
Cash 2025
€1,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €734,282 | €763,135 | +€28,853 | +3.9% |
| Fixed assets | 21/28 | €657,902 | €648,287 | -€9,614 | -1.5% |
| Tangible fixed assets | 22/27 | €657,902 | €648,287 | -€9,614 | -1.5% |
| Land and buildings | 22 | €657,902 | €633,035 | -€24,866 | -3.8% |
| Assets under construction and advance payments | 27 | - | €15,252 | +€15,252 | |
| Current assets | 29/58 | €76,380 | €114,847 | +€38,467 | +50.4% |
| Amounts receivable within one year | 40/41 | €47,400 | €113,271 | +€65,872 | +139% |
| Trade receivables | 40 | €28,891 | €93,952 | +€65,061 | +225% |
| Other amounts receivable | 41 | €18,509 | €19,320 | +€811 | +4.4% |
| Cash at bank and in hand | 54/58 | €28,980 | €1,576 | -€27,404 | -94.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €734,282 | €763,135 | +€28,853 | +3.9% |
| Equity | 10/15 | €91,228 | €155,890 | +€64,663 | +70.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €81,228 | €145,890 | +€64,663 | +79.6% |
| Distributable reserves | 133 | €81,228 | €145,890 | +€64,663 | +79.6% |
| Amounts payable | 17/49 | €643,054 | €607,244 | -€35,810 | -5.6% |
| Amounts payable after more than one year | 17 | €566,915 | €517,253 | -€49,662 | -8.8% |
| Financial debts | 170/4 | €566,915 | €517,253 | -€49,662 | -8.8% |
| Amounts payable within one year | 42/48 | €75,740 | €89,991 | +€14,251 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €48,809 | €49,662 | +€853 | +1.7% |
| Financial debts | 43 | - | €9,089 | +€9,089 | |
| Credit institutions | 430/8 | - | €9,089 | +€9,089 | |
| Trade debts | 44 | €1,548 | €2,753 | +€1,205 | +77.9% |
| Suppliers | 440/4 | €1,548 | €2,753 | +€1,205 | +77.9% |
| Taxes, remuneration and social security | 45 | €8,538 | €6,275 | -€2,263 | -26.5% |
| Taxes | 450/3 | €6,228 | €3,943 | -€2,285 | -36.7% |
| Remuneration and social security | 454/9 | €2,310 | €2,332 | +€22 | +1.0% |
| Other amounts payable | 47/48 | €16,845 | €22,212 | +€5,367 | +31.9% |
| Accrued charges and deferred income | 492/3 | €399 | €0 | -€399 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,866 | €24,866 | = | 0.0% |
| Other operating charges | 640/8 | €5,097 | €4,728 | -€369 | -7.2% |
| Gross operating margin | 9900 | €93,476 | €122,209 | +€28,733 | +30.7% |
| Operating profit (loss) | 9901 | €63,513 | €92,615 | +€29,102 | +45.8% |
| Financial income | 75/76B | €692 | €0 | -€692 | -100% |
| Recurring financial income | 75 | €692 | €0 | -€692 | -100% |
| Financial charges | 65/66B | €12,516 | €11,588 | -€928 | -7.4% |
| Recurring financial charges | 65 | €12,516 | €11,588 | -€928 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €51,689 | €81,027 | +€29,338 | +56.8% |
| Income taxes | 67/77 | €10,568 | €16,364 | +€5,796 | +54.8% |
| Profit (loss) for the period | 9904 | €41,121 | €64,663 | +€23,542 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €41,121 | €64,663 | +€23,542 | +57.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.