Timothée Boland: 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.
Timothée Boland
Largest movements
- Cash +€81,115
up €81,115 (+130.0%), from €62,381 to €143,497
mainly Net result for the year (+€87,634) and Depreciation (+€3,648)
- Tangible fixed assets +€5,239
up €5,239 (+92.6%), from €5,660 to €10,899
- Financial fixed assets +€2,000
up €2,000 (+57.1%), from €3,500 to €5,500
- Profit (loss) carried forward +€87,634
up €87,634 (+124.0%), from €70,652 to €158,286
- Other debts +€2,740
up €2,740 (+207.5%), from €1,320 to €4,060
- Gross operating margin +€59,781
up €59,781 (+99.5%), from €60,072 to €119,853
- Taxes +€11,777
up €11,777 (+100.0%), from €11,774 to €23,551
- Other operating charges +€4,860
up €4,860 (+24647.0%), from €20 to €4,880
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 | €73,018 | €163,078 | +€90,060 | +123.3% |
| Fixed assets | 21/28 | €9,160 | €16,399 | +€7,239 | +79.0% |
| Tangible fixed assets | 22/27 | €5,660 | €10,899 | +€5,239 | +92.6% |
| Furniture and vehicles | 24 | €5,660 | €10,899 | +€5,239 | +92.6% |
| Financial fixed assets | 28 | €3,500 | €5,500 | +€2,000 | +57.1% |
| Current assets | 29/58 | €63,858 | €146,679 | +€82,821 | +129.7% |
| Amounts receivable within one year | 40/41 | €590 | €1,147 | +€557 | +94.3% |
| Trade receivables | 40 | €167 | - | -€167 | |
| Other amounts receivable | 41 | €423 | €1,147 | +€724 | +171.2% |
| Cash at bank and in hand | 54/58 | €62,381 | €143,497 | +€81,115 | +130.0% |
| Deferred charges and accrued income | 490/1 | €886 | €2,035 | +€1,149 | +129.7% |
| Total equity and liabilities | 10/49 | €73,018 | €163,078 | +€90,060 | +123.3% |
| Equity | 10/15 | €71,152 | €158,786 | +€87,634 | +123.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,652 | €158,286 | +€87,634 | +124.0% |
| Amounts payable | 17/49 | €1,865 | €4,291 | +€2,426 | +130.1% |
| Amounts payable within one year | 42/48 | €1,865 | €4,291 | +€2,426 | +130.1% |
| Trade debts | 44 | €395 | €32 | -€364 | -92.0% |
| Suppliers | 440/4 | €395 | €32 | -€364 | -92.0% |
| Taxes, remuneration and social security | 45 | €150 | €200 | +€50 | +33.3% |
| Taxes | 450/3 | €150 | €200 | +€50 | +33.3% |
| Other amounts payable | 47/48 | €1,320 | €4,060 | +€2,740 | +207.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,647 | €3,648 | +€1,001 | +37.8% |
| Other operating charges | 640/8 | €20 | €4,880 | +€4,860 | +24647.0% |
| Gross operating margin | 9900 | €60,072 | €119,853 | +€59,781 | +99.5% |
| Operating profit (loss) | 9901 | €57,405 | €111,324 | +€53,919 | +93.9% |
| Financial charges | 65/66B | €132 | €139 | +€7 | +5.5% |
| Recurring financial charges | 65 | €132 | €139 | +€7 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €57,273 | €111,185 | +€53,912 | +94.1% |
| Income taxes | 67/77 | €11,774 | €23,551 | +€11,777 | +100.0% |
| Profit (loss) for the period | 9904 | €45,499 | €87,634 | +€42,135 | +92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €45,499 | €87,634 | +€42,135 | +92.6% |
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 7 October 2026 via checked.be.