TIMMERMANNEKE: 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.
TIMMERMANNEKE
Largest movements
- Cash +€48,814
up €48,814 (+143%), from €34,046 to €82,860
mainly Depreciation (+€39,937) and Net result for the year (+€24,920)
- Tangible fixed assets -€37,999
down €37,999 (-21.2%), from €179,290 to €141,291
of which Land and buildings: -€19,970
- Receivables within one year -€17,524
down €17,524 (-92.8%), from €18,885 to €1,362
of which Other amounts receivable: -€15,335
- Reserves +€24,920
up €24,920 (+27.7%), from €90,101 to €115,021
- Debts after one year -€23,079
down €23,079 (-41.2%), from €55,977 to €32,899
- Other debts -€18,677
down €18,677 (-42.7%), from €43,771 to €25,094
- Trade debts +€4,832
up €4,832 (+55.4%), from €8,716 to €13,547
- Tax, wage and social debts +€4,493
up €4,493, from €0 to €4,493
- Gross operating margin +€20,005
up €20,005 (+34.3%), from €58,342 to €78,347
- Taxes +€6,471
up €6,471 (+189%), from €3,421 to €9,893
- Depreciation -€5,451
down €5,451 (-12.0%), from €45,388 to €39,937
- Other operating charges -€2,014
down €2,014 (-61.0%), from €3,300 to €1,286
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 | €238,235 | €231,594 | -€6,641 | -2.8% |
| Fixed assets | 21/28 | €179,290 | €141,291 | -€37,999 | -21.2% |
| Tangible fixed assets | 22/27 | €179,290 | €141,291 | -€37,999 | -21.2% |
| Land and buildings | 22 | €79,820 | €59,850 | -€19,970 | -25.0% |
| Plant, machinery and equipment | 23 | €50,261 | €44,564 | -€5,697 | -11.3% |
| Furniture and vehicles | 24 | €2,826 | €2,860 | +€34 | +1.2% |
| Leasing and similar rights | 25 | €46,383 | €34,017 | -€12,367 | -26.7% |
| Current assets | 29/58 | €58,945 | €90,303 | +€31,358 | +53.2% |
| Amounts receivable within one year | 40/41 | €18,885 | €1,362 | -€17,524 | -92.8% |
| Trade receivables | 40 | €2,889 | €700 | -€2,189 | -75.8% |
| Other amounts receivable | 41 | €15,997 | €662 | -€15,335 | -95.9% |
| Cash at bank and in hand | 54/58 | €34,046 | €82,860 | +€48,814 | +143% |
| Deferred charges and accrued income | 490/1 | €6,014 | €6,081 | +€67 | +1.1% |
| Total equity and liabilities | 10/49 | €238,235 | €231,594 | -€6,641 | -2.8% |
| Equity | 10/15 | €110,101 | €135,021 | +€24,920 | +22.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €90,101 | €115,021 | +€24,920 | +27.7% |
| Distributable reserves | 133 | €90,101 | €115,021 | +€24,920 | +27.7% |
| Amounts payable | 17/49 | €128,134 | €96,573 | -€31,562 | -24.6% |
| Amounts payable after more than one year | 17 | €55,977 | €32,899 | -€23,079 | -41.2% |
| Financial debts | 170/4 | €55,977 | €32,899 | -€23,079 | -41.2% |
| Amounts payable within one year | 42/48 | €72,157 | €63,674 | -€8,483 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €16,921 | €20,419 | +€3,497 | +20.7% |
| Financial debts | 43 | €2,749 | €121 | -€2,628 | -95.6% |
| Other loans | 439 | €2,749 | €121 | -€2,628 | -95.6% |
| Trade debts | 44 | €8,716 | €13,547 | +€4,832 | +55.4% |
| Suppliers | 440/4 | €8,716 | €13,547 | +€4,832 | +55.4% |
| Taxes, remuneration and social security | 45 | €0 | €4,493 | +€4,493 | |
| Taxes | 450/3 | €0 | €4,493 | +€4,493 | |
| Other amounts payable | 47/48 | €43,771 | €25,094 | -€18,677 | -42.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,388 | €39,937 | -€5,451 | -12.0% |
| Other operating charges | 640/8 | €3,300 | €1,286 | -€2,014 | -61.0% |
| Gross operating margin | 9900 | €58,342 | €78,347 | +€20,005 | +34.3% |
| Operating profit (loss) | 9901 | €9,654 | €37,124 | +€27,470 | +285% |
| Financial income | 75/76B | €1,340 | €584 | -€756 | -56.4% |
| Recurring financial income | 75 | €1,340 | €584 | -€756 | -56.4% |
| Financial charges | 65/66B | €2,819 | €2,895 | +€75 | +2.7% |
| Recurring financial charges | 65 | €2,819 | €2,895 | +€75 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €8,174 | €34,813 | +€26,639 | +326% |
| Income taxes | 67/77 | €3,421 | €9,893 | +€6,471 | +189% |
| Profit (loss) for the period | 9904 | €4,753 | €24,920 | +€20,168 | +424% |
| Profit (loss) for the period to be appropriated | 9905 | €4,753 | €24,920 | +€20,168 | +424% |
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.