IMMO T.S.W.: what changed
What changed
IMMO T.S.W.
filed annual accounts (NBB)
Net result for the year
-€2,952
2024 · -€19,401+€16,450
Equity
€254,225
2024 · €257,177-€2,952
Cash
€1,331
2024 · €713+€618
Balance sheet total
€537,005
2024 · €556,223-€19,218
Largest movements
Assets
- Tangible fixed assets -€19,844
down €19,844 (-3.6%), from €555,371 to €535,528
of which Land and buildings: -€18,558
Equity and liabilities
- Other debts -€14,004
down €14,004 (-7.6%), from €183,379 to €169,374
- Reserves -€8,618
down €8,618 (-2.6%), from €332,414 to €323,796
of which Tax-exempt reserves: -€8,618
- Profit (loss) carried forward +€6,271
up €6,271 (+5.3%), from -€117,509 to -€111,238
Income statement
- Financial income +€104,731
new in 2025: €104,731
of which Financial income: +€104,731
- Financial charges +€104,500
up €104,500 (+7,180%), from €1,455 to €105,955
of which Non-recurring financial charges: +€104,500
- Gross operating margin +€7,683
up €7,683 (+71.0%), from €10,820 to €18,503
- Depreciation -€3,613
down €3,613 (-15.4%), from €23,456 to €19,844
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.
Result 2024
-€19,401
Gross operating margin
+€7,683
Depreciation
+€3,613
Other operating charges
-€107
Financial income
+€104,731
Financial charges
-€104,500
Deferred taxes and other
+€5,029
Result 2025
-€2,952
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€618
Investment
€0
Financing
€0
Cash 2024
€713
From operations (derived)
+€618
Net result for the year
-€2,952
Depreciation
+€19,844
Deferred charges and accrued income
-€8
Provisions
-€3,074
Trade debts
-€387
Other debts
-€14,004
Accrued charges and deferred income
+€1,200
Cash 2025
€1,331
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,223 | €537,005 | -€19,218 | -3.5% |
| Fixed assets | 21/28 | €555,371 | €535,528 | -€19,844 | -3.6% |
| Tangible fixed assets | 22/27 | €555,371 | €535,528 | -€19,844 | -3.6% |
| Land and buildings | 22 | €548,186 | €529,628 | -€18,558 | -3.4% |
| Plant, machinery and equipment | 23 | €7,185 | €5,900 | -€1,286 | -17.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €851 | €1,477 | +€626 | +73.5% |
| Cash at bank and in hand | 54/58 | €713 | €1,331 | +€618 | +86.7% |
| Deferred charges and accrued income | 490/1 | €138 | €146 | +€8 | +5.4% |
| Total equity and liabilities | 10/49 | €556,223 | €537,005 | -€19,218 | -3.5% |
| Equity | 10/15 | €257,177 | €254,225 | -€2,952 | -1.1% |
| Contributions | 10/11 | €34,500 | €34,500 | = | 0.0% |
| Revaluation surpluses | 12 | €7,772 | €7,167 | -€605 | -7.8% |
| Reserves | 13 | €332,414 | €323,796 | -€8,618 | -2.6% |
| Tax-exempt reserves | 132 | €290,164 | €281,546 | -€8,618 | -3.0% |
| Distributable reserves | 133 | €42,250 | €42,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,509 | -€111,238 | +€6,271 | +5.3% |
| Provisions and deferred taxes | 16 | €78,423 | €75,349 | -€3,074 | -3.9% |
| Deferred taxes | 168 | €78,423 | €75,349 | -€3,074 | -3.9% |
| Amounts payable | 17/49 | €220,623 | €207,431 | -€13,192 | -6.0% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Other amounts payable | 178/9 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €183,766 | €169,374 | -€14,392 | -7.8% |
| Trade debts | 44 | €387 | €0 | -€387 | -100% |
| Suppliers | 440/4 | €387 | €0 | -€387 | -100% |
| Other amounts payable | 47/48 | €183,379 | €169,374 | -€14,004 | -7.6% |
| Accrued charges and deferred income | 492/3 | €6,857 | €8,057 | +€1,200 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,456 | €19,844 | -€3,613 | -15.4% |
| Other operating charges | 640/8 | €3,354 | €3,461 | +€107 | +3.2% |
| Gross operating margin | 9900 | €10,820 | €18,503 | +€7,683 | +71.0% |
| Operating profit (loss) | 9901 | -€15,991 | -€4,802 | +€11,189 | +70.0% |
| Financial income | 75/76B | - | €104,731 | +€104,731 | |
| Recurring financial income | 75 | - | €104,731 | +€104,731 | |
| Non-recurring financial income | 76B | - | €104,731 | +€104,731 | |
| Financial charges | 65/66B | €1,455 | €105,955 | +€104,500 | +7,180% |
| Recurring financial charges | 65 | €1,224 | €1,224 | = | 0.0% |
| Non-recurring financial charges | 66B | €231 | €104,731 | +€104,500 | +45,156% |
| Profit (loss) for the period before taxes | 9903 | -€17,446 | -€6,026 | +€11,420 | +65.5% |
| Transfer from deferred taxes | 780 | €3,585 | €3,074 | -€510 | -14.2% |
| Transfer to deferred taxes | 680 | €5,540 | €0 | -€5,540 | -100% |
| Profit (loss) for the period | 9904 | -€19,401 | -€2,952 | +€16,450 | +84.8% |
| Transfer from tax-exempt reserves | 789 | €8,705 | €9,223 | +€518 | +6.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,696 | €6,271 | +€16,968 |
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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 2 November 2026 via checked.be.