TIMO PIREDDA: 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.
TIMO PIREDDA
Largest movements
- Cash +€55,047
up €55,047 (+43.8%), from €125,627 to €180,674
mainly Net result for the year (+€91,163) and Tax, wage and social debts (+€3,915)
- Receivables within one year +€12,321
up €12,321 (+36.9%), from €33,348 to €45,669
of which Trade receivables: +€14,339
- Tangible fixed assets +€9,619
up €9,619 (+2690.3%), from €358 to €9,977
- Financial fixed assets -€3,065
down €3,065 (-100.0%), from €3,065 to €0
- Current investments +€2,961
new in 2025: €2,961
- Reserves +€91,163
up €91,163 (+57.0%), from €159,847 to €251,010
- Accrued charges and deferred income -€9,888
no longer reported in 2025 (was €9,888)
- Trade debts -€8,675
down €8,675 (-100.0%), from €8,675 to €0
- Tax, wage and social debts +€3,915
up €3,915 (+12.4%), from €31,534 to €35,449
- Gross operating margin +€21,896
up €21,896 (+22.7%), from €96,320 to €118,216
- Taxes +€5,413
up €5,413 (+28.2%), from €19,202 to €24,615
- Depreciation +€1,278
up €1,278 (+386.6%), from €331 to €1,608
- Financial income +€1,194
up €1,194 (+415.9%), from €287 to €1,481
- Financial charges +€1,192
up €1,192 (+207.7%), from €574 to €1,766
of which Financial charges: +€1,088
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 | €212,943 | €289,459 | +€76,516 | +35.9% |
| Fixed assets | 21/28 | €3,422 | €9,977 | +€6,555 | +191.5% |
| Tangible fixed assets | 22/27 | €358 | €9,977 | +€9,619 | +2690.3% |
| Plant, machinery and equipment | 23 | €358 | €9,977 | +€9,619 | +2690.3% |
| Financial fixed assets | 28 | €3,065 | €0 | -€3,065 | -100.0% |
| Current assets | 29/58 | €209,521 | €279,482 | +€69,961 | +33.4% |
| Amounts receivable after more than one year | 29 | €50,000 | €49,463 | -€537 | -1.1% |
| Other amounts receivable | 291 | €50,000 | €49,463 | -€537 | -1.1% |
| Amounts receivable within one year | 40/41 | €33,348 | €45,669 | +€12,321 | +36.9% |
| Trade receivables | 40 | €31,330 | €45,669 | +€14,339 | +45.8% |
| Other amounts receivable | 41 | €2,018 | €0 | -€2,018 | -100.0% |
| Current investments | 50/53 | - | €2,961 | +€2,961 | |
| Cash at bank and in hand | 54/58 | €125,627 | €180,674 | +€55,047 | +43.8% |
| Deferred charges and accrued income | 490/1 | €546 | €716 | +€170 | +31.1% |
| Total equity and liabilities | 10/49 | €212,943 | €289,459 | +€76,516 | +35.9% |
| Equity | 10/15 | €162,847 | €254,010 | +€91,163 | +56.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €159,847 | €251,010 | +€91,163 | +57.0% |
| Distributable reserves | 133 | €159,847 | €251,010 | +€91,163 | +57.0% |
| Amounts payable | 17/49 | €50,096 | €35,449 | -€14,647 | -29.2% |
| Amounts payable within one year | 42/48 | €40,208 | €35,449 | -€4,760 | -11.8% |
| Trade debts | 44 | €8,675 | €0 | -€8,675 | -100.0% |
| Suppliers | 440/4 | €8,675 | €0 | -€8,675 | -100.0% |
| Taxes, remuneration and social security | 45 | €31,534 | €35,449 | +€3,915 | +12.4% |
| Taxes | 450/3 | €31,534 | €35,449 | +€3,915 | +12.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,888 | - | -€9,888 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €331 | €1,608 | +€1,278 | +386.6% |
| Other operating charges | 640/8 | €1,629 | €545 | -€1,084 | -66.6% |
| Gross operating margin | 9900 | €96,320 | €118,216 | +€21,896 | +22.7% |
| Operating profit (loss) | 9901 | €94,360 | €116,063 | +€21,703 | +23.0% |
| Financial income | 75/76B | €287 | €1,481 | +€1,194 | +415.9% |
| Recurring financial income | 75 | €287 | €1,481 | +€1,194 | +415.9% |
| Financial charges | 65/66B | €574 | €1,766 | +€1,192 | +207.7% |
| Recurring financial charges | 65 | €574 | €1,662 | +€1,088 | +189.6% |
| Non-recurring financial charges | 66B | - | €104 | +€104 | |
| Profit (loss) for the period before taxes | 9903 | €94,073 | €115,778 | +€21,705 | +23.1% |
| Income taxes | 67/77 | €19,202 | €24,615 | +€5,413 | +28.2% |
| Profit (loss) for the period | 9904 | €74,872 | €91,163 | +€16,291 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €74,872 | €91,163 | +€16,291 | +21.8% |
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 1 October 2026 via checked.be.