TIMMOB: what changed
Two fiscal 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.
TIMMOB
Largest movements
- Tangible fixed assets +€146,364
up €146,364 (+12.4%), from €1.2m to €1.3m
of which Land and buildings: +€90,382
- Cash -€90,325
down €90,325 (-87.1%), from €103,725 to €13,400
mainly Investment in fixed assets (net) (-€198,057) and Receivables within one year (-€43,930)
- Receivables within one year +€43,930
up €43,930 (+30.6%), from €143,416 to €187,347
of which Trade receivables: +€41,405
- Trade debts +€115,388
up €115,388 (+2669.0%), from €4,323 to €119,711
- Other debts -€39,503
down €39,503 (-17.4%), from €226,914 to €187,411
- Profit (loss) carried forward +€32,964
up €32,964 (+19.5%), from €168,624 to €201,588
- Gross operating margin +€34,631
up €34,631 (+33.3%), from €104,148 to €138,779
- Taxes +€8,180
up €8,180 (+583.4%), from €1,402 to €9,582
- Financial charges +€6,129
up €6,129 (+37.1%), from €16,507 to €22,636
- Other operating charges +€5,012
up €5,012 (+41.7%), from €12,005 to €17,017
- Depreciation -€4,141
down €4,141 (-6.1%), from €68,193 to €64,053
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,660,482 | €1,749,290 | +€88,807 | +5.3% |
| Formation expenses | 20 | €94,215 | €82,306 | -€11,909 | -12.6% |
| Fixed assets | 21/28 | €1,317,709 | €1,463,623 | +€145,914 | +11.1% |
| Tangible fixed assets | 22/27 | €1,177,259 | €1,323,623 | +€146,364 | +12.4% |
| Land and buildings | 22 | €1,053,132 | €1,143,514 | +€90,382 | +8.6% |
| Plant, machinery and equipment | 23 | €83,254 | €89,821 | +€6,567 | +7.9% |
| Furniture and vehicles | 24 | €40,874 | €85,869 | +€44,995 | +110.1% |
| Assets under construction and advance payments | 27 | - | €4,420 | +€4,420 | |
| Financial fixed assets | 28 | €140,450 | €140,000 | -€450 | -0.3% |
| Current assets | 29/58 | €248,558 | €203,361 | -€45,197 | -18.2% |
| Amounts receivable within one year | 40/41 | €143,416 | €187,347 | +€43,930 | +30.6% |
| Trade receivables | 40 | €16,819 | €58,224 | +€41,405 | +246.2% |
| Other amounts receivable | 41 | €126,597 | €129,122 | +€2,525 | +2.0% |
| Cash at bank and in hand | 54/58 | €103,725 | €13,400 | -€90,325 | -87.1% |
| Deferred charges and accrued income | 490/1 | €1,417 | €2,614 | +€1,197 | +84.5% |
| Total equity and liabilities | 10/49 | €1,660,482 | €1,749,290 | +€88,807 | +5.3% |
| Equity | 10/15 | €278,624 | €311,588 | +€32,964 | +11.8% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,624 | €201,588 | +€32,964 | +19.5% |
| Amounts payable | 17/49 | €1,381,859 | €1,437,701 | +€55,843 | +4.0% |
| Amounts payable after more than one year | 17 | €1,018,278 | €1,006,058 | -€12,220 | -1.2% |
| Financial debts | 170/4 | €1,016,678 | €1,004,458 | -€12,220 | -1.2% |
| Other amounts payable | 178/9 | €1,600 | €1,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €363,536 | €430,623 | +€67,087 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €115,886 | €121,164 | +€5,278 | +4.6% |
| Trade debts | 44 | €4,323 | €119,711 | +€115,388 | +2669.0% |
| Suppliers | 440/4 | €4,323 | €119,711 | +€115,388 | +2669.0% |
| Taxes, remuneration and social security | 45 | €16,413 | €2,337 | -€14,076 | -85.8% |
| Taxes | 450/3 | €16,413 | €2,337 | -€14,076 | -85.8% |
| Other amounts payable | 47/48 | €226,914 | €187,411 | -€39,503 | -17.4% |
| Accrued charges and deferred income | 492/3 | €44 | €1,020 | +€976 | +2195.0% |
| Non-recurring operating income | 76A | €17,343 | - | -€17,343 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,193 | €64,053 | -€4,141 | -6.1% |
| Other operating charges | 640/8 | €12,005 | €17,017 | +€5,012 | +41.7% |
| Gross operating margin | 9900 | €104,148 | €138,779 | +€34,631 | +33.3% |
| Operating profit (loss) | 9901 | €23,949 | €57,709 | +€33,760 | +141.0% |
| Financial income | 75/76B | €5,110 | €7,473 | +€2,363 | +46.2% |
| Recurring financial income | 75 | €5,110 | €7,473 | +€2,363 | +46.2% |
| Financial charges | 65/66B | €16,507 | €22,636 | +€6,129 | +37.1% |
| Recurring financial charges | 65 | €16,507 | €22,636 | +€6,129 | +37.1% |
| Profit (loss) for the period before taxes | 9903 | €12,552 | €42,546 | +€29,995 | +239.0% |
| Income taxes | 67/77 | €1,402 | €9,582 | +€8,180 | +583.4% |
| Profit (loss) for the period | 9904 | €11,150 | €32,964 | +€21,815 | +195.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,150 | €32,964 | +€21,815 | +195.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.