TIMMERMANS M&N: 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.
TIMMERMANS M&N
Largest movements
- Cash -€164,317
down €164,317 (-51.8%), from €317,385 to €153,068
mainly Other debts (-€112,449) and Net result for the year (-€67,712)
- Tangible fixed assets +€22,275
up €22,275 (+3.1%), from €716,147 to €738,423
of which Land and buildings: +€23,850
- Receivables within one year +€15,394
up €15,394 (+906%), from €1,698 to €17,092
of which Trade receivables: +€17,092
- Other debts -€112,449
down €112,449 (-70.0%), from €160,653 to €48,204
- Profit (loss) carried forward -€67,712
down €67,712 (-114%), from -€59,305 to -€127,017
- Accrued charges and deferred income +€40,717
up €40,717 (+293%), from €13,883 to €54,600
- Trade debts +€12,796
new in 2025: €12,796
- Gross operating margin +€52,750
up €52,750, from -€36,733 to €16,017
- Financial charges +€42,495
up €42,495 (+269%), from €15,795 to €58,291
- Depreciation +€19,600
up €19,600 (+333%), from €5,893 to €25,492
- Financial income +€577
new in 2025: €577
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 | €1,035,231 | €908,583 | -€126,648 | -12.2% |
| Fixed assets | 21/28 | €716,147 | €738,423 | +€22,275 | +3.1% |
| Tangible fixed assets | 22/27 | €716,147 | €738,423 | +€22,275 | +3.1% |
| Land and buildings | 22 | €708,535 | €732,385 | +€23,850 | +3.4% |
| Furniture and vehicles | 24 | €7,613 | €6,038 | -€1,575 | -20.7% |
| Current assets | 29/58 | €319,084 | €170,160 | -€148,924 | -46.7% |
| Amounts receivable within one year | 40/41 | €1,698 | €17,092 | +€15,394 | +906% |
| Trade receivables | 40 | - | €17,092 | +€17,092 | |
| Other amounts receivable | 41 | €1,698 | - | -€1,698 | |
| Cash at bank and in hand | 54/58 | €317,385 | €153,068 | -€164,317 | -51.8% |
| Total equity and liabilities | 10/49 | €1,035,231 | €908,583 | -€126,648 | -12.2% |
| Equity | 10/15 | -€49,305 | -€117,017 | -€67,712 | -137% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,305 | -€127,017 | -€67,712 | -114% |
| Amounts payable | 17/49 | €1,084,536 | €1,025,600 | -€58,936 | -5.4% |
| Amounts payable after more than one year | 17 | €910,000 | €910,000 | = | 0.0% |
| Financial debts | 170/4 | €910,000 | €910,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €160,653 | €61,000 | -€99,653 | -62.0% |
| Trade debts | 44 | - | €12,796 | +€12,796 | |
| Suppliers | 440/4 | - | €12,796 | +€12,796 | |
| Other amounts payable | 47/48 | €160,653 | €48,204 | -€112,449 | -70.0% |
| Accrued charges and deferred income | 492/3 | €13,883 | €54,600 | +€40,717 | +293% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,893 | €25,492 | +€19,600 | +333% |
| Other operating charges | 640/8 | €884 | €524 | -€360 | -40.7% |
| Gross operating margin | 9900 | -€36,733 | €16,017 | +€52,750 | |
| Operating profit (loss) | 9901 | -€43,509 | -€9,999 | +€33,510 | +77.0% |
| Financial income | 75/76B | - | €577 | +€577 | |
| Recurring financial income | 75 | - | €577 | +€577 | |
| Financial charges | 65/66B | €15,795 | €58,291 | +€42,495 | +269% |
| Recurring financial charges | 65 | €15,795 | €58,291 | +€42,495 | +269% |
| Profit (loss) for the period before taxes | 9903 | -€59,305 | -€67,712 | -€8,407 | -14.2% |
| Profit (loss) for the period | 9904 | -€59,305 | -€67,712 | -€8,407 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€59,305 | -€67,712 | -€8,407 | -14.2% |
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 27 October 2026 via checked.be.