TIMMERMANS PHILIPPE: 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 PHILIPPE
Largest movements
- Cash +€21,947
up €21,947 (+29.6%), from €74,175 to €96,122
mainly Net result for the year (+€38,229) and Depreciation (+€11,189)
- Tangible fixed assets -€11,189
down €11,189 (-29.6%), from €37,836 to €26,647
of which Furniture and vehicles: -€11,153
- Reserves +€36,369
up €36,369 (+19.5%), from €186,047 to €222,417
- Contributions -€18,600
no longer reported in 2025 (was €18,600)
- Tax, wage and social debts -€3,514
down €3,514 (-23.4%), from €15,014 to €11,500
of which Taxes: -€3,514
- Gross operating margin +€3,518
up €3,518 (+5.4%), from €64,982 to €68,500
- Taxes +€1,053
up €1,053 (+6.2%), from €17,071 to €18,124
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 | €227,391 | €238,838 | +€11,447 | +5.0% |
| Fixed assets | 21/28 | €37,836 | €26,647 | -€11,189 | -29.6% |
| Tangible fixed assets | 22/27 | €37,836 | €26,647 | -€11,189 | -29.6% |
| Plant, machinery and equipment | 23 | €72 | €36 | -€36 | -50.0% |
| Furniture and vehicles | 24 | €37,764 | €26,611 | -€11,153 | -29.5% |
| Current assets | 29/58 | €189,555 | €212,191 | +€22,635 | +11.9% |
| Amounts receivable after more than one year | 29 | €112,000 | €112,000 | = | 0.0% |
| Trade receivables | 290 | €112,000 | €112,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,581 | €3,463 | +€883 | +34.2% |
| Trade receivables | 40 | €2,581 | €2,738 | +€157 | +6.1% |
| Other amounts receivable | 41 | - | €726 | +€726 | |
| Cash at bank and in hand | 54/58 | €74,175 | €96,122 | +€21,947 | +29.6% |
| Deferred charges and accrued income | 490/1 | €800 | €606 | -€194 | -24.2% |
| Total equity and liabilities | 10/49 | €227,391 | €238,838 | +€11,447 | +5.0% |
| Equity | 10/15 | €204,647 | €222,417 | +€17,769 | +8.7% |
| Contributions | 10/11 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €186,047 | €222,417 | +€36,369 | +19.5% |
| Distributable reserves | 133 | €186,047 | €222,417 | +€36,369 | +19.5% |
| Amounts payable | 17/49 | €22,744 | €16,421 | -€6,323 | -27.8% |
| Amounts payable within one year | 42/48 | €22,744 | €16,421 | -€6,323 | -27.8% |
| Trade debts | 44 | €3,503 | €1,798 | -€1,705 | -48.7% |
| Suppliers | 440/4 | €3,503 | €1,798 | -€1,705 | -48.7% |
| Taxes, remuneration and social security | 45 | €15,014 | €11,500 | -€3,514 | -23.4% |
| Taxes | 450/3 | €13,364 | €9,850 | -€3,514 | -26.3% |
| Remuneration and social security | 454/9 | €1,650 | €1,650 | = | 0.0% |
| Other amounts payable | 47/48 | €4,227 | €3,124 | -€1,104 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,422 | €11,189 | -€234 | -2.0% |
| Other operating charges | 640/8 | €618 | €702 | +€83 | +13.5% |
| Gross operating margin | 9900 | €64,982 | €68,500 | +€3,518 | +5.4% |
| Operating profit (loss) | 9901 | €52,942 | €56,609 | +€3,668 | +6.9% |
| Financial income | 75/76B | €484 | €110 | -€373 | -77.2% |
| Recurring financial income | 75 | €484 | €110 | -€373 | -77.2% |
| Financial charges | 65/66B | €360 | €366 | +€6 | +1.6% |
| Recurring financial charges | 65 | €360 | €366 | +€6 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €53,065 | €56,354 | +€3,289 | +6.2% |
| Income taxes | 67/77 | €17,071 | €18,124 | +€1,053 | +6.2% |
| Profit (loss) for the period | 9904 | €35,994 | €38,229 | +€2,236 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,994 | €38,229 | +€2,236 | +6.2% |
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 20 October 2026 via checked.be.