TIMMERMANS W.: 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 W.
Largest movements
- Tangible fixed assets -€22,793
down €22,793 (-53.8%), from €42,379 to €19,586
of which Other tangible fixed assets: -€15,489
- Cash +€12,727
up €12,727 (+131%), from €9,679 to €22,406
mainly Depreciation (+€23,591) and Other debts (+€14,183)
- Receivables within one year -€10,887
down €10,887 (-30.3%), from €35,912 to €25,025
of which Trade receivables: -€9,658
- Stocks and contracts -€4,677
down €4,677 (-27.9%), from €16,754 to €12,077
- Other debts +€14,183
up €14,183 (+34.5%), from €41,093 to €55,276
- Profit (loss) carried forward -€13,121
down €13,121 (-31.1%), from -€42,161 to -€55,282
- Trade debts -€11,066
down €11,066 (-55.1%), from €20,093 to €9,027
- Current portion of long-term debt -€6,671
down €6,671 (-64.7%), from €10,305 to €3,634
- Tax, wage and social debts -€4,929
down €4,929 (-15.1%), from €32,566 to €27,637
of which Remuneration and social security: -€5,562
- Staff costs -€28,600
down €28,600 (-13.2%), from €216,497 to €187,897
- Gross operating margin -€13,722
down €13,722 (-6.3%), from €216,978 to €203,256
- Depreciation -€4,332
down €4,332 (-15.5%), from €27,923 to €23,591
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 | €107,344 | €82,354 | -€24,990 | -23.3% |
| Fixed assets | 21/28 | €42,379 | €19,586 | -€22,793 | -53.8% |
| Tangible fixed assets | 22/27 | €42,379 | €19,586 | -€22,793 | -53.8% |
| Plant, machinery and equipment | 23 | €12,703 | €6,214 | -€6,488 | -51.1% |
| Furniture and vehicles | 24 | €847 | €31 | -€816 | -96.4% |
| Other tangible fixed assets | 26 | €28,830 | €13,341 | -€15,489 | -53.7% |
| Current assets | 29/58 | €64,965 | €62,768 | -€2,197 | -3.4% |
| Stocks and contracts in progress | 3 | €16,754 | €12,077 | -€4,677 | -27.9% |
| Stocks | 30/36 | €16,754 | €12,077 | -€4,677 | -27.9% |
| Amounts receivable within one year | 40/41 | €35,912 | €25,025 | -€10,887 | -30.3% |
| Trade receivables | 40 | €15,535 | €5,877 | -€9,658 | -62.2% |
| Other amounts receivable | 41 | €20,377 | €19,149 | -€1,228 | -6.0% |
| Cash at bank and in hand | 54/58 | €9,679 | €22,406 | +€12,727 | +131% |
| Deferred charges and accrued income | 490/1 | €2,619 | €3,259 | +€640 | +24.4% |
| Total equity and liabilities | 10/49 | €107,344 | €82,354 | -€24,990 | -23.3% |
| Equity | 10/15 | -€561 | -€13,682 | -€13,121 | -2,337% |
| Contributions | 10/11 | €20,600 | €20,600 | = | 0.0% |
| Reserves | 13 | €21,000 | €21,000 | = | 0.0% |
| Distributable reserves | 133 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,161 | -€55,282 | -€13,121 | -31.1% |
| Amounts payable | 17/49 | €107,905 | €96,036 | -€11,869 | -11.0% |
| Amounts payable after more than one year | 17 | €3,634 | - | -€3,634 | |
| Financial debts | 170/4 | €3,634 | - | -€3,634 | |
| Amounts payable within one year | 42/48 | €104,057 | €95,574 | -€8,482 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €10,305 | €3,634 | -€6,671 | -64.7% |
| Trade debts | 44 | €20,093 | €9,027 | -€11,066 | -55.1% |
| Suppliers | 440/4 | €20,093 | €9,027 | -€11,066 | -55.1% |
| Taxes, remuneration and social security | 45 | €32,566 | €27,637 | -€4,929 | -15.1% |
| Taxes | 450/3 | €5,931 | €6,564 | +€633 | +10.7% |
| Remuneration and social security | 454/9 | €26,636 | €21,073 | -€5,562 | -20.9% |
| Other amounts payable | 47/48 | €41,093 | €55,276 | +€14,183 | +34.5% |
| Accrued charges and deferred income | 492/3 | €215 | €462 | +€247 | +115% |
| Remuneration, social security and pensions | 62 | €216,497 | €187,897 | -€28,600 | -13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,923 | €23,591 | -€4,332 | -15.5% |
| Other operating charges | 640/8 | €2,078 | €2,444 | +€366 | +17.6% |
| Gross operating margin | 9900 | €216,978 | €203,256 | -€13,722 | -6.3% |
| Operating profit (loss) | 9901 | -€29,521 | -€10,677 | +€18,844 | +63.8% |
| Financial income | 75/76B | €74 | €69 | -€5 | -6.6% |
| Recurring financial income | 75 | €74 | €69 | -€5 | -6.6% |
| Financial charges | 65/66B | €3,736 | €2,513 | -€1,223 | -32.7% |
| Recurring financial charges | 65 | €3,736 | €2,513 | -€1,223 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,183 | -€13,121 | +€20,062 | +60.5% |
| Profit (loss) for the period | 9904 | -€33,183 | -€13,121 | +€20,062 | +60.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,183 | -€13,121 | +€20,062 | +60.5% |
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 13 October 2026 via checked.be.