FTIMMO: 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.
What changed
FTIMMO
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€176,864
2024 · €209,251-€32,387
Equity
€1.5m
2024 · €1.3m+€151,864
Cash
€296,136
2024 · €541,401-€245,265
Balance sheet total
€1.6m
2024 · €1.4m+€149,651
Largest movements
Assets
- Receivables within one year +€385,677
up €385,677 (+99.6%), from €387,152 to €772,828
of which Other amounts receivable: +€261,382
- Cash -€245,265
down €245,265 (-45.3%), from €541,401 to €296,136
mainly Receivables within one year (-€385,677) and Contributions, distributions and other (-€25,000)
Equity and liabilities
- Reserves +€151,864
up €151,864 (+13.1%), from €1.2m to €1.3m
of which Distributable reserves: +€151,864
Income statement
- Staff costs +€43,686
up €43,686 (+57.6%), from €75,861 to €119,547
- Taxes -€12,760
down €12,760 (-19.7%), from €64,843 to €52,083
- Financial income +€5,316
up €5,316 (+18.1%), from €29,352 to €34,668
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.
Result 2024
€209,251
Gross operating margin
-€2,497
Staff costs
-€43,686
Depreciation
-€2,674
Other operating charges
-€1,875
Financial income
+€5,316
Financial charges
+€269
Taxes
+€12,760
Result 2025
€176,864
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.
From operations
-€205,276
Investment
-€7,490
Financing
-€32,498
Cash 2024
€541,401
From operations (derived)
-€205,276
Net result for the year
+€176,864
Depreciation
+€16,867
Receivables after one year
-€10,816
Receivables within one year
-€385,677
Deferred charges and accrued income
-€7,799
Trade debts
-€2,667
Tax, wage and social debts
+€7,899
Other debts
+€53
Investment (derived)
-€7,490
Investment in fixed assets (net)
-€7,490
Financing
-€32,498
Debts after one year
-€7,746
Current portion of long-term debt
+€248
Contributions, distributions and other
-€25,000
Cash 2025
€296,136
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,433,291 | €1,582,942 | +€149,651 | +10.4% |
| Fixed assets | 21/28 | €161,928 | €152,552 | -€9,376 | -5.8% |
| Intangible fixed assets | 21 | €1,379 | €691 | -€688 | -49.9% |
| Tangible fixed assets | 22/27 | €156,799 | €147,521 | -€9,278 | -5.9% |
| Land and buildings | 22 | €20,710 | €20,710 | = | 0.0% |
| Plant, machinery and equipment | 23 | €126 | €5,915 | +€5,789 | +4613.1% |
| Furniture and vehicles | 24 | €20,144 | €15,592 | -€4,552 | -22.6% |
| Other tangible fixed assets | 26 | €115,820 | €105,303 | -€10,516 | -9.1% |
| Financial fixed assets | 28 | €3,750 | €4,340 | +€590 | +15.7% |
| Current assets | 29/58 | €1,271,364 | €1,430,390 | +€159,027 | +12.5% |
| Amounts receivable after more than one year | 29 | €270,400 | €281,216 | +€10,816 | +4.0% |
| Other amounts receivable | 291 | €270,400 | €281,216 | +€10,816 | +4.0% |
| Amounts receivable within one year | 40/41 | €387,152 | €772,828 | +€385,677 | +99.6% |
| Trade receivables | 40 | €49,834 | €174,129 | +€124,295 | +249.4% |
| Other amounts receivable | 41 | €337,318 | €598,700 | +€261,382 | +77.5% |
| Current investments | 50/53 | €35,225 | €35,225 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €541,401 | €296,136 | -€245,265 | -45.3% |
| Deferred charges and accrued income | 490/1 | €37,186 | €44,985 | +€7,799 | +21.0% |
| Total equity and liabilities | 10/49 | €1,433,291 | €1,582,942 | +€149,651 | +10.4% |
| Equity | 10/15 | €1,313,841 | €1,465,705 | +€151,864 | +11.6% |
| Contributions | 10/11 | €158,100 | €158,100 | = | 0.0% |
| Reserves | 13 | €1,155,741 | €1,307,605 | +€151,864 | +13.1% |
| Tax-exempt reserves | 132 | €23 | €23 | = | 0.0% |
| Distributable reserves | 133 | €1,155,717 | €1,307,581 | +€151,864 | +13.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €119,451 | €117,237 | -€2,214 | -1.9% |
| Amounts payable after more than one year | 17 | €24,715 | €16,969 | -€7,746 | -31.3% |
| Financial debts | 170/4 | €24,715 | €16,969 | -€7,746 | -31.3% |
| Amounts payable within one year | 42/48 | €94,736 | €100,269 | +€5,533 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €7,498 | €7,746 | +€248 | +3.3% |
| Trade debts | 44 | €48,458 | €45,791 | -€2,667 | -5.5% |
| Suppliers | 440/4 | €48,458 | €45,791 | -€2,667 | -5.5% |
| Taxes, remuneration and social security | 45 | €9,753 | €17,652 | +€7,899 | +81.0% |
| Taxes | 450/3 | €746 | €7,635 | +€6,889 | +924.0% |
| Remuneration and social security | 454/9 | €9,007 | €10,017 | +€1,010 | +11.2% |
| Other amounts payable | 47/48 | €29,027 | €29,080 | +€53 | +0.2% |
| Non-recurring operating income | 76A | - | €1,740 | +€1,740 | |
| Remuneration, social security and pensions | 62 | €75,861 | €119,547 | +€43,686 | +57.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,192 | €16,867 | +€2,674 | +18.8% |
| Other operating charges | 640/8 | €6,662 | €8,536 | +€1,875 | +28.1% |
| Gross operating margin | 9900 | €343,329 | €340,832 | -€2,497 | -0.7% |
| Operating profit (loss) | 9901 | €246,614 | €195,882 | -€50,732 | -20.6% |
| Financial income | 75/76B | €29,352 | €34,668 | +€5,316 | +18.1% |
| Recurring financial income | 75 | €29,352 | €34,668 | +€5,316 | +18.1% |
| Financial charges | 65/66B | €1,872 | €1,603 | -€269 | -14.4% |
| Recurring financial charges | 65 | €1,872 | €1,603 | -€269 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €274,094 | €228,947 | -€45,147 | -16.5% |
| Income taxes | 67/77 | €64,843 | €52,083 | -€12,760 | -19.7% |
| Profit (loss) for the period | 9904 | €209,251 | €176,864 | -€32,387 | -15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €209,251 | €176,864 | -€32,387 | -15.5% |
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 7 October 2026 via checked.be.