Timothy Colman: 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.
Timothy Colman
Largest movements
- Cash +€44,634
up €44,634 (+7.3%), from €610,678 to €655,312
mainly Net result for the year (+€78,727) and Trade debts (+€43,537)
- Tangible fixed assets +€14,409
up €14,409 (+6.5%), from €221,156 to €235,565
of which Furniture and vehicles: +€32,732
- Reserves +€48,727
up €48,727 (+9.0%), from €543,801 to €592,528
- Trade debts +€43,537
up €43,537 (+36.9%), from €118,017 to €161,554
- Other debts -€10,878
down €10,878 (-8.4%), from €129,171 to €118,293
- Gross operating margin -€111,429
down €111,429 (-44.2%), from €252,240 to €140,811
- Taxes -€21,245
down €21,245 (-49.2%), from €43,217 to €21,972
- Financial charges +€4,226
up €4,226 (+24.8%), from €17,058 to €21,283
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 | €1,016,717 | €1,084,361 | +€67,645 | +6.7% |
| Fixed assets | 21/28 | €221,156 | €235,565 | +€14,409 | +6.5% |
| Tangible fixed assets | 22/27 | €221,156 | €235,565 | +€14,409 | +6.5% |
| Land and buildings | 22 | €178,967 | €171,069 | -€7,898 | -4.4% |
| Plant, machinery and equipment | 23 | €35,696 | €25,272 | -€10,425 | -29.2% |
| Furniture and vehicles | 24 | €6,493 | €39,225 | +€32,732 | +504% |
| Current assets | 29/58 | €795,561 | €848,796 | +€53,235 | +6.7% |
| Stocks and contracts in progress | 3 | €10,341 | €10,341 | = | 0.0% |
| Stocks | 30/36 | €10,341 | €10,341 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €174,360 | €183,143 | +€8,783 | +5.0% |
| Trade receivables | 40 | €149,877 | €95,026 | -€54,851 | -36.6% |
| Other amounts receivable | 41 | €24,483 | €88,117 | +€63,634 | +260% |
| Cash at bank and in hand | 54/58 | €610,678 | €655,312 | +€44,634 | +7.3% |
| Deferred charges and accrued income | 490/1 | €182 | €0 | -€182 | -100% |
| Total equity and liabilities | 10/49 | €1,016,717 | €1,084,361 | +€67,645 | +6.7% |
| Equity | 10/15 | €556,201 | €604,928 | +€48,727 | +8.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €543,801 | €592,528 | +€48,727 | +9.0% |
| Distributable reserves | 133 | €543,801 | €592,528 | +€48,727 | +9.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €460,516 | €479,433 | +€18,917 | +4.1% |
| Amounts payable after more than one year | 17 | €178,000 | €178,000 | = | 0.0% |
| Financial debts | 170/4 | €178,000 | €178,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €261,564 | €281,990 | +€20,426 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €2,257 | €0 | -€2,257 | -100% |
| Trade debts | 44 | €118,017 | €161,554 | +€43,537 | +36.9% |
| Suppliers | 440/4 | €118,017 | €161,554 | +€43,537 | +36.9% |
| Taxes, remuneration and social security | 45 | €12,119 | €2,143 | -€9,977 | -82.3% |
| Taxes | 450/3 | €12,119 | €2,143 | -€9,977 | -82.3% |
| Other amounts payable | 47/48 | €129,171 | €118,293 | -€10,878 | -8.4% |
| Accrued charges and deferred income | 492/3 | €20,952 | €19,443 | -€1,509 | -7.2% |
| Non-recurring operating income | 76A | - | €4,540 | +€4,540 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,492 | €21,291 | -€201 | -0.9% |
| Other operating charges | 640/8 | €2,262 | €2,848 | +€585 | +25.9% |
| Gross operating margin | 9900 | €252,240 | €140,811 | -€111,429 | -44.2% |
| Operating profit (loss) | 9901 | €228,486 | €116,673 | -€111,813 | -48.9% |
| Financial income | 75/76B | €4,210 | €5,310 | +€1,100 | +26.1% |
| Recurring financial income | 75 | €4,210 | €5,310 | +€1,100 | +26.1% |
| Financial charges | 65/66B | €17,058 | €21,283 | +€4,226 | +24.8% |
| Recurring financial charges | 65 | €17,058 | €21,283 | +€4,226 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €215,639 | €100,700 | -€114,939 | -53.3% |
| Income taxes | 67/77 | €43,217 | €21,972 | -€21,245 | -49.2% |
| Profit (loss) for the period | 9904 | €172,422 | €78,727 | -€93,694 | -54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €172,422 | €78,727 | -€93,694 | -54.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.