TIMMERMANS: 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.
What changed
TIMMERMANS
NACE 47.721, Retail sale of footwear
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€272,819
2024 · -€442,700+€169,880
Equity
-€357,939
2024 · -€85,120-€272,819
Cash
€2,920
2024 · €12,765-€9,846
Balance sheet total
€1.3m
2024 · €1.8m-€492,911
Largest movements
Assets
- Current investments -€199,282
down €199,282 (-100.0%), from €199,282 to €0
- Receivables within one year -€133,010
down €133,010 (-73.8%), from €180,301 to €47,291
of which Trade receivables: -€132,769
- Intangible fixed assets -€82,694
down €82,694 (-52.2%), from €158,444 to €75,750
- Tangible fixed assets -€65,189
down €65,189 (-13.3%), from €491,075 to €425,886
of which Plant, machinery and equipment: -€62,135
Equity and liabilities
- Short-term financial debts +€370,000
up €370,000 (+1233.3%), from €30,000 to €400,000
- Other debts -€316,088
down €316,088 (-24.4%), from €1.3m to €980,734
- Profit (loss) carried forward -€272,819
down €272,819 (-17.0%), from -€1.6m to -€1.9m
- Trade debts -€107,807
down €107,807 (-53.5%), from €201,585 to €93,779
- Current portion of long-term debt -€65,459
down €65,459 (-50.0%), from €130,918 to €65,458
Income statement
- Turnover -€3.1m
down €3.1m (-70.1%), from €4.4m to €1.3m
- Goods and materials -€1.8m
down €1.8m (-69.1%), from €2.7m to €820,469
of which Change in stocks: decrease (increase): -€1.2m
- Services and other goods -€750,425
down €750,425 (-62.6%), from €1.2m to €448,598
- Staff costs -€592,241
down €592,241 (-77.1%), from €767,725 to €175,484
- Other operating charges -€56,449
down €56,449 (-92.2%), from €61,191 to €4,743
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.
Result 2024
-€442,700
Turnover
-€3.1m
Other operating income
+€69
Goods and materials
+€1.8m
Services and other goods
+€750,425
Staff costs
+€592,241
Depreciation
+€2,521
Other operating charges
+€56,449
Other operating items
-€6,714
Financial income
+€18,222
Financial charges
+€1,640
Taxes
+€1,565
Result 2025
-€272,819
Cash bridge derived
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.
From operations
-€444,508
Investment
+€195,580
Financing
+€239,082
Cash 2024
€12,765
From operations (derived)
-€444,508
Net result for the year
-€272,819
Depreciation
+€151,585
Stocks and contracts
-€1,455
Receivables within one year
+€133,010
Deferred charges and accrued income
+€4,346
Trade debts
-€107,807
Tax, wage and social debts
-€11,400
Advances received
-€32,691
Other debts
-€316,088
Accrued charges and deferred income
+€8,812
Investment (derived)
+€195,580
Investment in fixed assets (net)
-€3,702
Current investments
+€199,282
Financing
+€239,082
Debts after one year
-€65,458
Current portion of long-term debt
-€65,459
Short-term financial debts
+€370,000
Cash 2025
€2,920
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,813,900 | €1,320,989 | -€492,911 | -27.2% |
| Fixed assets | 21/28 | €651,399 | €503,516 | -€147,883 | -22.7% |
| Intangible fixed assets | 21 | €158,444 | €75,750 | -€82,694 | -52.2% |
| Tangible fixed assets | 22/27 | €491,075 | €425,886 | -€65,189 | -13.3% |
| Plant, machinery and equipment | 23 | €482,297 | €420,162 | -€62,135 | -12.9% |
| Furniture and vehicles | 24 | €6,803 | €4,651 | -€2,152 | -31.6% |
| Other tangible fixed assets | 26 | €1,974 | €1,073 | -€902 | -45.7% |
| Financial fixed assets | 28 | €1,880 | €1,880 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,880 | €1,880 | = | 0.0% |
| Shares | 284 | €1,880 | €1,880 | = | 0.0% |
| Current assets | 29/58 | €1,162,501 | €817,473 | -€345,028 | -29.7% |
| Stocks and contracts in progress | 3 | €761,023 | €762,479 | +€1,455 | +0.2% |
| Stocks | 30/36 | €761,023 | €762,479 | +€1,455 | +0.2% |
| Raw materials and consumables | 30/31 | €18,807 | €10,900 | -€7,907 | -42.0% |
| Goods purchased for resale | 34 | €742,216 | €751,579 | +€9,363 | +1.3% |
| Amounts receivable within one year | 40/41 | €180,301 | €47,291 | -€133,010 | -73.8% |
| Trade receivables | 40 | €166,586 | €33,817 | -€132,769 | -79.7% |
| Other amounts receivable | 41 | €13,715 | €13,474 | -€241 | -1.8% |
| Current investments | 50/53 | €199,282 | €0 | -€199,282 | -100.0% |
| Other investments | 51/53 | €199,282 | €0 | -€199,282 | -100.0% |
| Cash at bank and in hand | 54/58 | €12,765 | €2,920 | -€9,846 | -77.1% |
| Deferred charges and accrued income | 490/1 | €9,129 | €4,784 | -€4,346 | -47.6% |
| Total equity and liabilities | 10/49 | €1,813,900 | €1,320,989 | -€492,911 | -27.2% |
| Equity | 10/15 | -€85,120 | -€357,939 | -€272,819 | -320.5% |
| Contributions | 10/11 | €1,450,000 | €1,450,000 | = | 0.0% |
| Capital | 10 | €1,450,000 | €1,450,000 | = | 0.0% |
| Issued capital | 100 | €1,450,000 | €1,450,000 | = | 0.0% |
| Reserves | 13 | €74,122 | €74,122 | = | 0.0% |
| Non-distributable reserves | 130/1 | €63,500 | €63,500 | = | 0.0% |
| Legal reserve | 130 | €63,500 | €63,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,622 | €10,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,609,242 | -€1,882,061 | -€272,819 | -17.0% |
| Amounts payable | 17/49 | €1,899,020 | €1,678,929 | -€220,091 | -11.6% |
| Amounts payable after more than one year | 17 | €109,758 | €44,300 | -€65,458 | -59.6% |
| Financial debts | 170/4 | €109,758 | €44,300 | -€65,458 | -59.6% |
| Other loans | 174 | €109,758 | €44,300 | -€65,458 | -59.6% |
| Amounts payable within one year | 42/48 | €1,732,932 | €1,569,488 | -€163,445 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €130,918 | €65,458 | -€65,459 | -50.0% |
| Financial debts | 43 | €30,000 | €400,000 | +€370,000 | +1233.3% |
| Credit institutions | 430/8 | €30,000 | €400,000 | +€370,000 | +1233.3% |
| Trade debts | 44 | €201,585 | €93,779 | -€107,807 | -53.5% |
| Suppliers | 440/4 | €201,585 | €93,779 | -€107,807 | -53.5% |
| Advances received on contracts in progress | 46 | €38,327 | €5,636 | -€32,691 | -85.3% |
| Taxes, remuneration and social security | 45 | €35,281 | €23,881 | -€11,400 | -32.3% |
| Taxes | 450/3 | €15,529 | €5,509 | -€10,021 | -64.5% |
| Remuneration and social security | 454/9 | €19,752 | €18,372 | -€1,379 | -7.0% |
| Other amounts payable | 47/48 | €1,296,822 | €980,734 | -€316,088 | -24.4% |
| Accrued charges and deferred income | 492/3 | €56,330 | €65,141 | +€8,812 | +15.6% |
| Operating income | 70/76A | €4,394,092 | €1,317,032 | -€3.1m | -70.0% |
| Turnover | 70 | €4,390,228 | €1,313,098 | -€3.1m | -70.1% |
| Other operating income | 74 | €3,864 | €3,933 | +€69 | +1.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €4,833,107 | €1,607,592 | -€3.2m | -66.7% |
| Goods for resale, raw materials and consumables | 60 | €2,651,062 | €820,469 | -€1.8m | -69.1% |
| Purchases | 600/8 | €1,466,154 | €821,924 | -€644,230 | -43.9% |
| Change in stocks: decrease (increase) | 609 | €1,184,908 | -€1,455 | -€1.2m | |
| Services and other goods | 61 | €1,199,023 | €448,598 | -€750,425 | -62.6% |
| Remuneration, social security and pensions | 62 | €767,725 | €175,484 | -€592,241 | -77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,106 | €151,585 | -€2,521 | -1.6% |
| Other operating charges | 640/8 | €61,191 | €4,743 | -€56,449 | -92.2% |
| Non-recurring operating charges | 66A | - | €6,714 | +€6,714 | |
| Operating profit (loss) | 9901 | -€439,014 | -€290,560 | +€148,454 | +33.8% |
| Financial income | 75/76B | €34,956 | €53,177 | +€18,222 | +52.1% |
| Recurring financial income | 75 | €34,956 | €53,177 | +€18,222 | +52.1% |
| Income from financial fixed assets | 750 | €3,033 | €42,148 | +€39,115 | +1289.5% |
| Income from current assets | 751 | €2,066 | €84 | -€1,982 | -95.9% |
| Other financial income | 752/9 | €29,856 | €10,945 | -€18,912 | -63.3% |
| Financial charges | 65/66B | €36,788 | €35,148 | -€1,640 | -4.5% |
| Recurring financial charges | 65 | €36,788 | €35,148 | -€1,640 | -4.5% |
| Debt charges | 650 | €26,242 | €8,852 | -€17,390 | -66.3% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€4,415 | -€377 | +€4,038 | +91.5% |
| Other financial charges | 652/9 | €14,961 | €26,673 | +€11,713 | +78.3% |
| Profit (loss) for the period before taxes | 9903 | -€440,846 | -€272,531 | +€168,315 | +38.2% |
| Income taxes | 67/77 | €1,853 | €288 | -€1,565 | -84.4% |
| Taxes | 670/3 | €1,853 | €876 | -€977 | -52.7% |
| Tax adjustments and reversals of tax provisions | 77 | - | €587 | +€587 | |
| Profit (loss) for the period | 9904 | -€442,700 | -€272,819 | +€169,880 | +38.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€442,700 | -€272,819 | +€169,880 | +38.4% |
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 11 October 2026 via checked.be.