TIMVEST: 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.
TIMVEST
Largest movements
- Receivables within one year +€18,078
up €18,078 (+186.0%), from €9,720 to €27,798
- Cash -€16,227
down €16,227 (-22.8%), from €71,033 to €54,806
mainly Receivables within one year (-€18,078) and Trade debts (-€5,835)
- Stocks and contracts -€2,430
down €2,430 (-32.1%), from €7,580 to €5,150
- Deferred charges and accrued income +€1,405
up €1,405 (+551.0%), from €255 to €1,660
- Tangible fixed assets -€1,234
down €1,234 (-26.2%), from €4,709 to €3,475
- Trade debts -€5,835
down €5,835 (-56.0%), from €10,417 to €4,582
- Other debts +€1,967
up €1,967 (+8.1%), from €24,402 to €26,369
- Tax, wage and social debts +€1,789
up €1,789 (+127.0%), from €1,409 to €3,198
- Reserves +€1,613
up €1,613 (+7.1%), from €22,857 to €24,470
- Gross operating margin -€7,964
down €7,964 (-51.6%), from €15,434 to €7,470
- Taxes -€692
down €692 (-81.1%), from €853 to €161
- Depreciation -€194
down €194 (-7.4%), from €2,613 to €2,419
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 | €93,297 | €92,889 | -€408 | -0.4% |
| Fixed assets | 21/28 | €4,709 | €3,475 | -€1,234 | -26.2% |
| Tangible fixed assets | 22/27 | €4,709 | €3,475 | -€1,234 | -26.2% |
| Furniture and vehicles | 24 | €4,709 | €3,475 | -€1,234 | -26.2% |
| Current assets | 29/58 | €88,588 | €89,414 | +€826 | +0.9% |
| Stocks and contracts in progress | 3 | €7,580 | €5,150 | -€2,430 | -32.1% |
| Stocks | 30/36 | €7,580 | €5,150 | -€2,430 | -32.1% |
| Amounts receivable within one year | 40/41 | €9,720 | €27,798 | +€18,078 | +186.0% |
| Trade receivables | 40 | €9,720 | €27,798 | +€18,078 | +186.0% |
| Cash at bank and in hand | 54/58 | €71,033 | €54,806 | -€16,227 | -22.8% |
| Deferred charges and accrued income | 490/1 | €255 | €1,660 | +€1,405 | +551.0% |
| Total equity and liabilities | 10/49 | €93,297 | €92,889 | -€408 | -0.4% |
| Equity | 10/15 | €47,830 | €49,443 | +€1,613 | +3.4% |
| Contributions | 10/11 | €21,691 | €21,691 | = | 0.0% |
| Reserves | 13 | €22,857 | €24,470 | +€1,613 | +7.1% |
| Distributable reserves | 133 | €22,857 | €24,470 | +€1,613 | +7.1% |
| Profit (loss) carried forward | 14 | €3,282 | €3,282 | = | 0.0% |
| Amounts payable | 17/49 | €45,467 | €43,446 | -€2,021 | -4.4% |
| Amounts payable after more than one year | 17 | €7,500 | €7,500 | = | 0.0% |
| Financial debts | 170/4 | €7,500 | €7,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,228 | €34,149 | -€2,079 | -5.7% |
| Trade debts | 44 | €10,417 | €4,582 | -€5,835 | -56.0% |
| Suppliers | 440/4 | €10,417 | €4,582 | -€5,835 | -56.0% |
| Taxes, remuneration and social security | 45 | €1,409 | €3,198 | +€1,789 | +127.0% |
| Taxes | 450/3 | €1,409 | €3,198 | +€1,789 | +127.0% |
| Other amounts payable | 47/48 | €24,402 | €26,369 | +€1,967 | +8.1% |
| Accrued charges and deferred income | 492/3 | €1,739 | €1,797 | +€58 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,613 | €2,419 | -€194 | -7.4% |
| Other operating charges | 640/8 | €269 | €194 | -€75 | -27.9% |
| Gross operating margin | 9900 | €15,434 | €7,470 | -€7,964 | -51.6% |
| Operating profit (loss) | 9901 | €12,552 | €4,857 | -€7,695 | -61.3% |
| Financial income | 75/76B | €15 | - | -€15 | |
| Recurring financial income | 75 | €15 | - | -€15 | |
| Financial charges | 65/66B | €3,190 | €3,083 | -€107 | -3.4% |
| Recurring financial charges | 65 | €3,190 | €3,083 | -€107 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | €9,377 | €1,774 | -€7,603 | -81.1% |
| Income taxes | 67/77 | €853 | €161 | -€692 | -81.1% |
| Profit (loss) for the period | 9904 | €8,524 | €1,613 | -€6,911 | -81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,524 | €1,613 | -€6,911 | -81.1% |
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 4 October 2026 via checked.be.