TIMMERHOF: what changed
Two financial 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.
TIMMERHOF
Largest movements
- Tangible fixed assets -€26,987
down €26,987 (-59.7%), from €45,200 to €18,213
of which Furniture and vehicles: -€19,259
- Cash -€15,664
down €15,664 (-31.6%), from €49,639 to €33,974
mainly Contributions, distributions and other (-€36,778) and Debts after one year (-€28,962)
- Stocks and contracts -€8,169
no longer reported in 2025 (was €8,169)
- Debts after one year -€28,962
no longer reported in 2025 (was €28,962)
- Current portion of long-term debt -€21,299
no longer reported in 2025 (was €21,299)
- Profit (loss) carried forward +€17,865
no longer reported in 2025 (was -€17,865)
- Reserves -€16,228
down €16,228 (-18.6%), from €87,340 to €71,112
- Gross operating margin +€21,508
up €21,508 (+62.4%), from €34,484 to €55,993
- Depreciation -€14,985
down €14,985 (-82.9%), from €18,071 to €3,087
- Taxes +€5,670
up €5,670 (+1,872%), from €303 to €5,973
- Financial charges -€612
down €612 (-8.7%), from €7,059 to €6,446
of which Financial charges: -€985
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.
Derived cash bridge
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 | €126,073 | €75,541 | -€50,532 | -40.1% |
| Fixed assets | 21/28 | €46,895 | €19,908 | -€26,987 | -57.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €45,200 | €18,213 | -€26,987 | -59.7% |
| Plant, machinery and equipment | 23 | €9,318 | €1,591 | -€7,728 | -82.9% |
| Furniture and vehicles | 24 | €35,882 | €16,623 | -€19,259 | -53.7% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €1,695 | €1,695 | = | 0.0% |
| Current assets | 29/58 | €79,177 | €55,632 | -€23,545 | -29.7% |
| Stocks and contracts in progress | 3 | €8,169 | - | -€8,169 | |
| Stocks | 30/36 | €8,169 | - | -€8,169 | |
| Amounts receivable within one year | 40/41 | €18,604 | €18,749 | +€145 | +0.8% |
| Trade receivables | 40 | €16,760 | €13,143 | -€3,618 | -21.6% |
| Other amounts receivable | 41 | €1,843 | €5,606 | +€3,763 | +204% |
| Cash at bank and in hand | 54/58 | €49,639 | €33,974 | -€15,664 | -31.6% |
| Deferred charges and accrued income | 490/1 | €2,766 | €2,909 | +€143 | +5.2% |
| Total equity and liabilities | 10/49 | €126,073 | €75,541 | -€50,532 | -40.1% |
| Equity | 10/15 | €69,475 | €71,112 | +€1,637 | +2.4% |
| Reserves | 13 | €87,340 | €71,112 | -€16,228 | -18.6% |
| Distributable reserves | 133 | €87,340 | €71,112 | -€16,228 | -18.6% |
| Profit (loss) carried forward | 14 | -€17,865 | - | +€17,865 | |
| Amounts payable | 17/49 | €56,598 | €4,429 | -€52,169 | -92.2% |
| Amounts payable after more than one year | 17 | €28,962 | - | -€28,962 | |
| Financial debts | 170/4 | €28,962 | - | -€28,962 | |
| Amounts payable within one year | 42/48 | €27,635 | €4,429 | -€23,206 | -84.0% |
| Current portion of amounts payable after more than one year | 42 | €21,299 | - | -€21,299 | |
| Trade debts | 44 | €2,989 | €2,329 | -€660 | -22.1% |
| Suppliers | 440/4 | €2,989 | €2,329 | -€660 | -22.1% |
| Taxes, remuneration and social security | 45 | €2,403 | €2,100 | -€303 | -12.6% |
| Taxes | 450/3 | €2,403 | €2,100 | -€303 | -12.6% |
| Other amounts payable | 47/48 | €944 | - | -€944 | |
| Non-recurring operating income | 76A | - | €24,838 | +€24,838 | |
| Remuneration, social security and pensions | 62 | €154 | €456 | +€302 | +196% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,071 | €3,087 | -€14,985 | -82.9% |
| Other operating charges | 640/8 | €1,686 | €1,895 | +€209 | +12.4% |
| Gross operating margin | 9900 | €34,484 | €55,993 | +€21,508 | +62.4% |
| Operating profit (loss) | 9901 | €14,573 | €50,555 | +€35,982 | +247% |
| Financial income | 75/76B | €87 | €278 | +€191 | +221% |
| Recurring financial income | 75 | €87 | €278 | +€191 | +221% |
| Financial charges | 65/66B | €7,059 | €6,446 | -€612 | -8.7% |
| Recurring financial charges | 65 | €7,059 | €6,074 | -€985 | -13.9% |
| Non-recurring financial charges | 66B | - | €372 | +€372 | |
| Profit (loss) for the period before taxes | 9903 | €7,601 | €44,387 | +€36,786 | +484% |
| Income taxes | 67/77 | €303 | €5,973 | +€5,670 | +1,872% |
| Profit (loss) for the period | 9904 | €7,298 | €38,414 | +€31,116 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €7,298 | €38,414 | +€31,116 | +426% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.