TIMMAX-CONSTRUCT: what changed
TIMMAX-CONSTRUCT
Largest movements
- Receivables within one year -€31,060
down €31,060 (-44.9%), from €69,205 to €38,145
of which Other amounts receivable: -€28,542
- Deferred charges and accrued income -€17,276
down €17,276 (-92.4%), from €18,695 to €1,419
- Cash +€4,975
up €4,975 (+51.7%), from €9,617 to €14,591
mainly Receivables within one year (+€31,060) and Deferred charges and accrued income (+€17,276)
- Tangible fixed assets -€4,916
down €4,916 (-5.7%), from €86,533 to €81,617
- Reserves -€47,500
down €47,500 (-31.5%), from €150,676 to €103,176
- Profit (loss) carried forward +€6,692
up €6,692 (+23.3%), from -€28,765 to -€22,073
- Debts after one year -€6,109
down €6,109 (-34.9%), from €17,517 to €11,407
of which Financial debts: -€6,109
- Current portion of long-term debt -€3,041
down €3,041 (-33.2%), from €9,150 to €6,109
- Trade debts +€2,826
up €2,826 (+738%), from €383 to €3,209
- Gross operating margin +€29,100
up €29,100, from -€11,681 to €17,420
- Financial charges -€11,319
down €11,319 (-77.4%), from €14,632 to €3,313
- Depreciation -€11,299
down €11,299 (-61.9%), from €18,244 to €6,946
- Staff costs -€4,197
no longer reported in 2025 (was €4,197)
- Other operating charges -€3,599
down €3,599 (-61.0%), from €5,896 to €2,297
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €184,050 | €135,773 | -€48,277 | -26.2% |
| Fixed assets | 21/28 | €86,533 | €81,617 | -€4,916 | -5.7% |
| Tangible fixed assets | 22/27 | €86,533 | €81,617 | -€4,916 | -5.7% |
| Land and buildings | 22 | €71,509 | €69,804 | -€1,705 | -2.4% |
| Plant, machinery and equipment | 23 | €8,613 | €8,088 | -€525 | -6.1% |
| Furniture and vehicles | 24 | €2,900 | €618 | -€2,281 | -78.7% |
| Other tangible fixed assets | 26 | €3,510 | €3,106 | -€404 | -11.5% |
| Current assets | 29/58 | €97,517 | €54,156 | -€43,361 | -44.5% |
| Amounts receivable within one year | 40/41 | €69,205 | €38,145 | -€31,060 | -44.9% |
| Trade receivables | 40 | €7,065 | €4,548 | -€2,517 | -35.6% |
| Other amounts receivable | 41 | €62,140 | €33,598 | -€28,542 | -45.9% |
| Cash at bank and in hand | 54/58 | €9,617 | €14,591 | +€4,975 | +51.7% |
| Deferred charges and accrued income | 490/1 | €18,695 | €1,419 | -€17,276 | -92.4% |
| Total equity and liabilities | 10/49 | €184,050 | €135,773 | -€48,277 | -26.2% |
| Equity | 10/15 | €152,167 | €111,359 | -€40,808 | -26.8% |
| Contributions | 10/11 | €30,256 | €30,256 | = | 0.0% |
| Reserves | 13 | €150,676 | €103,176 | -€47,500 | -31.5% |
| Distributable reserves | 133 | €150,676 | €103,176 | -€47,500 | -31.5% |
| Profit (loss) carried forward | 14 | -€28,765 | -€22,073 | +€6,692 | +23.3% |
| Amounts payable | 17/49 | €31,883 | €24,414 | -€7,469 | -23.4% |
| Amounts payable after more than one year | 17 | €17,517 | €11,407 | -€6,109 | -34.9% |
| Financial debts | 170/4 | €16,417 | €10,307 | -€6,109 | -37.2% |
| Other amounts payable | 178/9 | €1,100 | €1,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €11,693 | €10,273 | -€1,421 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €9,150 | €6,109 | -€3,041 | -33.2% |
| Trade debts | 44 | €383 | €3,209 | +€2,826 | +738% |
| Suppliers | 440/4 | €383 | €3,209 | +€2,826 | +738% |
| Taxes, remuneration and social security | 45 | €2,161 | €954 | -€1,206 | -55.8% |
| Taxes | 450/3 | €2,161 | €954 | -€1,206 | -55.8% |
| Accrued charges and deferred income | 492/3 | €2,672 | €2,734 | +€61 | +2.3% |
| Non-recurring operating income | 76A | - | €18,739 | +€18,739 | |
| Remuneration, social security and pensions | 62 | €4,197 | - | -€4,197 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,244 | €6,946 | -€11,299 | -61.9% |
| Other operating charges | 640/8 | €5,896 | €2,297 | -€3,599 | -61.0% |
| Gross operating margin | 9900 | -€11,681 | €17,420 | +€29,100 | |
| Operating profit (loss) | 9901 | -€40,019 | €8,177 | +€48,196 | |
| Financial income | 75/76B | €751 | €1,897 | +€1,146 | +153% |
| Recurring financial income | 75 | €751 | €1,897 | +€1,146 | +153% |
| Financial charges | 65/66B | €14,632 | €3,313 | -€11,319 | -77.4% |
| Recurring financial charges | 65 | €14,632 | €3,313 | -€11,319 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | -€53,900 | €6,761 | +€60,660 | |
| Income taxes | 67/77 | €74 | €69 | -€5 | -7.3% |
| Profit (loss) for the period | 9904 | -€53,974 | €6,692 | +€60,666 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,974 | €6,692 | +€60,666 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.