Timmerman Marc: 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.
Timmerman Marc
Largest movements
- Cash +€16,030
up €16,030 (+132%), from €12,135 to €28,165
mainly Stocks and contracts (+€11,847) and Depreciation (+€8,991)
- Stocks and contracts -€11,847
down €11,847 (-35.6%), from €33,279 to €21,432
of which Stocks: -€12,252
- Tangible fixed assets -€8,991
down €8,991 (-23.9%), from €37,645 to €28,653
of which Furniture and vehicles: -€8,587
- Trade debts -€9,613
down €9,613 (-81.3%), from €11,819 to €2,206
- Accrued charges and deferred income +€8,712
new in 2025: €8,712
- Debts after one year -€7,437
down €7,437 (-27.5%), from €27,019 to €19,582
- Profit (loss) carried forward +€3,875
up €3,875 (+80.9%), from -€4,791 to -€916
- Current portion of long-term debt -€3,079
down €3,079 (-38.5%), from €7,998 to €4,919
- Gross operating margin -€3,784
down €3,784 (-17.2%), from €22,046 to €18,262
- Depreciation +€2,628
up €2,628 (+41.3%), from €6,363 to €8,991
- Taxes -€1,411
down €1,411 (-42.8%), from €3,294 to €1,883
- Other operating charges -€379
down €379 (-17.1%), from €2,215 to €1,836
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 | €114,173 | €108,540 | -€5,633 | -4.9% |
| Fixed assets | 21/28 | €37,645 | €28,653 | -€8,991 | -23.9% |
| Tangible fixed assets | 22/27 | €37,645 | €28,653 | -€8,991 | -23.9% |
| Plant, machinery and equipment | 23 | €669 | €265 | -€404 | -60.4% |
| Furniture and vehicles | 24 | €36,976 | €28,389 | -€8,587 | -23.2% |
| Current assets | 29/58 | €76,528 | €79,887 | +€3,358 | +4.4% |
| Stocks and contracts in progress | 3 | €33,279 | €21,432 | -€11,847 | -35.6% |
| Stocks | 30/36 | €32,026 | €19,774 | -€12,252 | -38.3% |
| Contracts in progress | 37 | €1,253 | €1,658 | +€405 | +32.3% |
| Amounts receivable within one year | 40/41 | €29,123 | €28,152 | -€970 | -3.3% |
| Trade receivables | 40 | €25,329 | €25,102 | -€227 | -0.9% |
| Other amounts receivable | 41 | €3,794 | €3,050 | -€743 | -19.6% |
| Cash at bank and in hand | 54/58 | €12,135 | €28,165 | +€16,030 | +132% |
| Deferred charges and accrued income | 490/1 | €1,991 | €2,137 | +€146 | +7.3% |
| Total equity and liabilities | 10/49 | €114,173 | €108,540 | -€5,633 | -4.9% |
| Equity | 10/15 | €66,543 | €70,418 | +€3,875 | +5.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €58,834 | €58,834 | = | 0.0% |
| Distributable reserves | 133 | €58,834 | €58,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,791 | -€916 | +€3,875 | +80.9% |
| Amounts payable | 17/49 | €47,630 | €38,122 | -€9,508 | -20.0% |
| Amounts payable after more than one year | 17 | €27,019 | €19,582 | -€7,437 | -27.5% |
| Financial debts | 170/4 | €27,019 | €19,582 | -€7,437 | -27.5% |
| Amounts payable within one year | 42/48 | €20,611 | €9,828 | -€10,782 | -52.3% |
| Current portion of amounts payable after more than one year | 42 | €7,998 | €4,919 | -€3,079 | -38.5% |
| Trade debts | 44 | €11,819 | €2,206 | -€9,613 | -81.3% |
| Suppliers | 440/4 | €11,819 | €2,206 | -€9,613 | -81.3% |
| Taxes, remuneration and social security | 45 | €794 | €2,703 | +€1,909 | +240% |
| Taxes | 450/3 | €794 | €2,703 | +€1,909 | +240% |
| Accrued charges and deferred income | 492/3 | - | €8,712 | +€8,712 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,363 | €8,991 | +€2,628 | +41.3% |
| Other operating charges | 640/8 | €2,215 | €1,836 | -€379 | -17.1% |
| Gross operating margin | 9900 | €22,046 | €18,262 | -€3,784 | -17.2% |
| Operating profit (loss) | 9901 | €13,468 | €7,435 | -€6,033 | -44.8% |
| Financial income | 75/76B | €150 | €74 | -€77 | -50.9% |
| Recurring financial income | 75 | €150 | €74 | -€77 | -50.9% |
| Financial charges | 65/66B | €1,696 | €1,750 | +€54 | +3.2% |
| Recurring financial charges | 65 | €1,696 | €1,750 | +€54 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €11,922 | €5,758 | -€6,164 | -51.7% |
| Income taxes | 67/77 | €3,294 | €1,883 | -€1,411 | -42.8% |
| Profit (loss) for the period | 9904 | €8,628 | €3,875 | -€4,753 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,628 | €3,875 | -€4,753 | -55.1% |
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 22 October 2026 via checked.be.