Timulis Group: 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.
Timulis Group
Largest movements
- Receivables within one year +€24,600
up €24,600 (+394.6%), from €6,234 to €30,834
of which Trade receivables: +€21,145
- Cash -€2,139
down €2,139 (-99.4%), from €2,152 to €13
mainly Receivables within one year (-€24,600) and Investment in fixed assets (net) (-€1,904)
- Tangible fixed assets +€1,742
new in 2025: €1,742
- Reserves +€14,695
up €14,695 (+263.0%), from €5,588 to €20,283
- Tax, wage and social debts +€9,110
up €9,110 (+153.6%), from €5,931 to €15,041
of which Taxes: +€7,010
- Trade debts +€483
up €483 (+34.1%), from €1,416 to €1,899
- Gross operating margin +€14,802
up €14,802 (+190.9%), from €7,752 to €22,554
- Taxes +€3,699
up €3,699 (+219.5%), from €1,685 to €5,384
- Financial charges +€1,926
up €1,926 (+4495.0%), from €43 to €1,969
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 | €15,968 | €40,223 | +€24,255 | +151.9% |
| Fixed assets | 21/28 | - | €1,742 | +€1,742 | |
| Tangible fixed assets | 22/27 | - | €1,742 | +€1,742 | |
| Furniture and vehicles | 24 | - | €1,742 | +€1,742 | |
| Current assets | 29/58 | €15,968 | €38,480 | +€22,512 | +141.0% |
| Amounts receivable within one year | 40/41 | €6,234 | €30,834 | +€24,600 | +394.6% |
| Trade receivables | 40 | €6,234 | €27,379 | +€21,145 | +339.2% |
| Other amounts receivable | 41 | - | €3,455 | +€3,455 | |
| Cash at bank and in hand | 54/58 | €2,152 | €13 | -€2,139 | -99.4% |
| Deferred charges and accrued income | 490/1 | €7,583 | €7,634 | +€51 | +0.7% |
| Total equity and liabilities | 10/49 | €15,968 | €40,223 | +€24,255 | +151.9% |
| Equity | 10/15 | €8,588 | €23,283 | +€14,695 | +171.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €5,588 | €20,283 | +€14,695 | +263.0% |
| Distributable reserves | 133 | €5,588 | €20,283 | +€14,695 | +263.0% |
| Amounts payable | 17/49 | €7,380 | €16,940 | +€9,559 | +129.5% |
| Amounts payable within one year | 42/48 | €7,380 | €16,940 | +€9,559 | +129.5% |
| Trade debts | 44 | €1,416 | €1,899 | +€483 | +34.1% |
| Suppliers | 440/4 | €1,416 | €1,899 | +€483 | +34.1% |
| Taxes, remuneration and social security | 45 | €5,931 | €15,041 | +€9,110 | +153.6% |
| Taxes | 450/3 | €5,931 | €12,941 | +€7,010 | +118.2% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €34 | €0 | -€34 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €162 | +€162 | |
| Other operating charges | 640/8 | €437 | €534 | +€98 | +22.3% |
| Gross operating margin | 9900 | €7,752 | €22,554 | +€14,802 | +190.9% |
| Operating profit (loss) | 9901 | €7,316 | €21,859 | +€14,543 | +198.8% |
| Financial income | 75/76B | - | €190 | +€190 | |
| Recurring financial income | 75 | - | €190 | +€190 | |
| Financial charges | 65/66B | €43 | €1,969 | +€1,926 | +4495.0% |
| Recurring financial charges | 65 | €43 | €1,969 | +€1,926 | +4495.0% |
| Profit (loss) for the period before taxes | 9903 | €7,273 | €20,080 | +€12,807 | +176.1% |
| Income taxes | 67/77 | €1,685 | €5,384 | +€3,699 | +219.5% |
| Profit (loss) for the period | 9904 | €5,588 | €14,695 | +€9,108 | +163.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,588 | €14,695 | +€9,108 | +163.0% |
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 9 October 2026 via checked.be.