Timos Law: 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.
Timos Law
Largest movements
- Cash +€55,360
up €55,360 (+427%), from €12,969 to €68,329
mainly Net result for the year (+€32,010) and Current investments (+€13,000)
- Current investments -€13,000
down €13,000 (-43.3%), from €30,000 to €17,000
- Tangible fixed assets +€2,545
up €2,545 (+429%), from €594 to €3,139
- Reserves +€32,010
up €32,010 (+103%), from €30,936 to €62,947
- Tax, wage and social debts +€12,646
up €12,646 (+83.9%), from €15,074 to €27,720
of which Taxes: +€13,646
- Gross operating margin +€4,625
up €4,625 (+11.3%), from €40,830 to €45,456
- Taxes +€2,950
up €2,950 (+34.1%), from €8,653 to €11,604
- Depreciation +€943
up €943 (+317%), from €297 to €1,240
- Financial income +€786
new in 2025: €786
- Financial charges +€696
up €696 (+307%), from €227 to €922
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 | €52,109 | €96,460 | +€44,350 | +85.1% |
| Fixed assets | 21/28 | €594 | €3,139 | +€2,545 | +429% |
| Tangible fixed assets | 22/27 | €594 | €3,139 | +€2,545 | +429% |
| Plant, machinery and equipment | 23 | €594 | €3,139 | +€2,545 | +429% |
| Current assets | 29/58 | €51,515 | €93,321 | +€41,806 | +81.2% |
| Amounts receivable within one year | 40/41 | €8,547 | €7,605 | -€942 | -11.0% |
| Trade receivables | 40 | €8,547 | €7,605 | -€942 | -11.0% |
| Current investments | 50/53 | €30,000 | €17,000 | -€13,000 | -43.3% |
| Cash at bank and in hand | 54/58 | €12,969 | €68,329 | +€55,360 | +427% |
| Deferred charges and accrued income | 490/1 | - | €387 | +€387 | |
| Total equity and liabilities | 10/49 | €52,109 | €96,460 | +€44,350 | +85.1% |
| Equity | 10/15 | €31,936 | €63,947 | +€32,010 | +100% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €30,936 | €62,947 | +€32,010 | +103% |
| Distributable reserves | 133 | €30,936 | €62,947 | +€32,010 | +103% |
| Amounts payable | 17/49 | €20,173 | €32,513 | +€12,340 | +61.2% |
| Amounts payable within one year | 42/48 | €20,173 | €32,513 | +€12,340 | +61.2% |
| Trade debts | 44 | €1,142 | €664 | -€478 | -41.9% |
| Suppliers | 440/4 | €1,142 | €664 | -€478 | -41.9% |
| Taxes, remuneration and social security | 45 | €15,074 | €27,720 | +€12,646 | +83.9% |
| Taxes | 450/3 | €14,074 | €27,720 | +€13,646 | +97.0% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €3,958 | €4,130 | +€172 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297 | €1,240 | +€943 | +317% |
| Other operating charges | 640/8 | €717 | €465 | -€251 | -35.1% |
| Gross operating margin | 9900 | €40,830 | €45,456 | +€4,625 | +11.3% |
| Operating profit (loss) | 9901 | €39,816 | €43,750 | +€3,934 | +9.9% |
| Financial income | 75/76B | - | €786 | +€786 | |
| Recurring financial income | 75 | - | €786 | +€786 | |
| Financial charges | 65/66B | €227 | €922 | +€696 | +307% |
| Recurring financial charges | 65 | €227 | €922 | +€696 | +307% |
| Profit (loss) for the period before taxes | 9903 | €39,590 | €43,614 | +€4,024 | +10.2% |
| Income taxes | 67/77 | €8,653 | €11,604 | +€2,950 | +34.1% |
| Profit (loss) for the period | 9904 | €30,936 | €32,010 | +€1,074 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €30,936 | €32,010 | +€1,074 | +3.5% |
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 16 October 2026 via checked.be.