TIMSYS: 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.
TIMSYS
Largest movements
- Cash -€19,248
down €19,248 (-56.0%), from €34,377 to €15,129
mainly Investment in fixed assets (net) (-€13,856) and Receivables within one year (-€9,495)
- Receivables within one year +€9,495
up €9,495 (+53.4%), from €17,771 to €27,266
of which Other amounts receivable: +€7,110
- Tangible fixed assets +€7,850
up €7,850 (+70.0%), from €11,207 to €19,056
of which Furniture and vehicles: +€8,261
- Tax, wage and social debts -€1,377
down €1,377 (-32.3%), from €4,258 to €2,881
- Trade debts -€1,147
down €1,147 (-26.4%), from €4,344 to €3,197
- Reserves +€787
up €787 (+1.6%), from €49,200 to €49,987
of which Distributable reserves: +€787
- Gross operating margin -€8,803
down €8,803 (-48.3%), from €18,234 to €9,431
- Depreciation +€2,948
up €2,948 (+96.4%), from €3,059 to €6,006
- Taxes +€1,070
up €1,070 (+173.2%), from €618 to €1,689
- Other operating charges -€277
down €277 (-22.3%), from €1,242 to €965
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 | €64,002 | €62,265 | -€1,738 | -2.7% |
| Fixed assets | 21/28 | €11,207 | €19,056 | +€7,850 | +70.0% |
| Tangible fixed assets | 22/27 | €11,207 | €19,056 | +€7,850 | +70.0% |
| Land and buildings | 22 | €2,743 | €2,331 | -€412 | -15.0% |
| Furniture and vehicles | 24 | €8,463 | €16,725 | +€8,261 | +97.6% |
| Current assets | 29/58 | €52,796 | €43,208 | -€9,587 | -18.2% |
| Amounts receivable within one year | 40/41 | €17,771 | €27,266 | +€9,495 | +53.4% |
| Trade receivables | 40 | €11,643 | €14,028 | +€2,385 | +20.5% |
| Other amounts receivable | 41 | €6,128 | €13,238 | +€7,110 | +116.0% |
| Cash at bank and in hand | 54/58 | €34,377 | €15,129 | -€19,248 | -56.0% |
| Deferred charges and accrued income | 490/1 | €648 | €813 | +€166 | +25.5% |
| Total equity and liabilities | 10/49 | €64,002 | €62,265 | -€1,738 | -2.7% |
| Equity | 10/15 | €55,400 | €56,187 | +€787 | +1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €49,200 | €49,987 | +€787 | +1.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €47,340 | €48,127 | +€787 | +1.7% |
| Amounts payable | 17/49 | €8,602 | €6,078 | -€2,525 | -29.3% |
| Amounts payable within one year | 42/48 | €8,602 | €6,078 | -€2,525 | -29.3% |
| Trade debts | 44 | €4,344 | €3,197 | -€1,147 | -26.4% |
| Suppliers | 440/4 | €4,344 | €3,197 | -€1,147 | -26.4% |
| Taxes, remuneration and social security | 45 | €4,258 | €2,881 | -€1,377 | -32.3% |
| Taxes | 450/3 | €4,258 | €2,881 | -€1,377 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,059 | €6,006 | +€2,948 | +96.4% |
| Other operating charges | 640/8 | €1,242 | €965 | -€277 | -22.3% |
| Gross operating margin | 9900 | €18,234 | €9,431 | -€8,803 | -48.3% |
| Operating profit (loss) | 9901 | €13,933 | €2,459 | -€11,474 | -82.4% |
| Financial income | 75/76B | €142 | €173 | +€31 | +21.7% |
| Recurring financial income | 75 | €142 | €173 | +€31 | +21.7% |
| Financial charges | 65/66B | €139 | €156 | +€17 | +12.5% |
| Recurring financial charges | 65 | €139 | €156 | +€17 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | €13,936 | €2,476 | -€11,460 | -82.2% |
| Income taxes | 67/77 | €618 | €1,689 | +€1,070 | +173.2% |
| Profit (loss) for the period | 9904 | €13,318 | €787 | -€12,531 | -94.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,318 | €787 | -€12,531 | -94.1% |
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 6 October 2026 via checked.be.