TIMUR: what changed
TIMUR
Largest movements
- Receivables within one year -€43,768
down €43,768 (-75.9%), from €57,698 to €13,930
of which Other amounts receivable: -€43,768
- Financial fixed assets +€5,508
new in 2025: €5,508
- Profit (loss) carried forward -€29,610
down €29,610 (-29.3%), from -€101,229 to -€130,839
- Trade debts -€10,346
down €10,346 (-40.7%), from €25,403 to €15,057
- Debts after one year +€5,508
up €5,508 (+51.3%), from €10,742 to €16,250
- Other debts -€4,244
no longer reported in 2025 (was €4,244)
- Other operating charges +€53,233
up €53,233 (+3,314%), from €1,606 to €54,839
- Gross operating margin -€12,680
down €12,680 (-32.8%), from €38,677 to €25,997
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,239 | €21,547 | -€38,692 | -64.2% |
| Fixed assets | 21/28 | €594 | €5,508 | +€4,915 | +828% |
| Tangible fixed assets | 22/27 | €594 | - | -€594 | |
| Other tangible fixed assets | 26 | €594 | - | -€594 | |
| Financial fixed assets | 28 | - | €5,508 | +€5,508 | |
| Current assets | 29/58 | €59,645 | €16,039 | -€43,606 | -73.1% |
| Amounts receivable within one year | 40/41 | €57,698 | €13,930 | -€43,768 | -75.9% |
| Trade receivables | 40 | €4,653 | €4,653 | = | 0.0% |
| Other amounts receivable | 41 | €53,045 | €9,277 | -€43,768 | -82.5% |
| Cash at bank and in hand | 54/58 | €1,947 | €2,109 | +€162 | +8.3% |
| Total equity and liabilities | 10/49 | €60,239 | €21,547 | -€38,692 | -64.2% |
| Equity | 10/15 | -€82,637 | -€112,247 | -€29,610 | -35.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€101,229 | -€130,839 | -€29,610 | -29.3% |
| Amounts payable | 17/49 | €142,876 | €133,794 | -€9,082 | -6.4% |
| Amounts payable after more than one year | 17 | €10,742 | €16,250 | +€5,508 | +51.3% |
| Other amounts payable | 178/9 | €10,742 | €16,250 | +€5,508 | +51.3% |
| Amounts payable within one year | 42/48 | €29,647 | €15,057 | -€14,590 | -49.2% |
| Trade debts | 44 | €25,403 | €15,057 | -€10,346 | -40.7% |
| Suppliers | 440/4 | €25,403 | €15,057 | -€10,346 | -40.7% |
| Other amounts payable | 47/48 | €4,244 | - | -€4,244 | |
| Accrued charges and deferred income | 492/3 | €102,487 | €102,487 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €674 | €594 | -€80 | -11.9% |
| Other operating charges | 640/8 | €1,606 | €54,839 | +€53,233 | +3,314% |
| Gross operating margin | 9900 | €38,677 | €25,997 | -€12,680 | -32.8% |
| Operating profit (loss) | 9901 | €36,397 | -€29,436 | -€65,833 | |
| Financial charges | 65/66B | €167 | €174 | +€7 | +4.2% |
| Recurring financial charges | 65 | €167 | €174 | +€7 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €36,230 | -€29,610 | -€65,840 | |
| Profit (loss) for the period | 9904 | €36,230 | -€29,610 | -€65,840 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,230 | -€29,610 | -€65,840 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.