A broken timing belt means that the valves do not have the necessary time to close before the piston arrives. Because of this, a collision will occur between the pistons and the valves. This collision causes the valves to bend.
From the moment the timing belt breaks, the camshafts stop immediately, under the action of return springs that slow down its cams.
The crankshaft, at this moment, inertially continues to rotate (regardless of whether the transmission was switched on or not, the speed was low or high, the flywheel continues to turn it). Thus, the pistons continue to work, and as a result, they will hit the currently open valves. Considering the valves, modern engines are much sensitive regarding this problem because of the small distance between the valves and the pistons. So, if the valve is slightly open when the piston arrives, it instantly bends.