IMMO T.V.K.: what changed
Two financial 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
IMMO T.V.K.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€53,623
2024 · €446,977-€393,354
Equity
€874,544
2024 · €820,921+€53,623
Cash
€9,259
2024 · €12,415-€3,156
Balance sheet total
€2.0m
2024 · €2.1m-€118,436
Largest movements
Assets
- Tangible fixed assets -€111,173
down €111,173 (-5.5%), from €2.0m to €1.9m
of which Land and buildings: -€99,673
Equity and liabilities
- Debts after one year -€120,426
down €120,426 (-16.0%), from €752,959 to €632,533
of which Financial debts: -€125,526
- Reserves +€53,623
up €53,623 (+7.1%), from €758,921 to €812,544
of which Distributable reserves: +€115,694
- Provisions -€31,075
down €31,075 (-16.0%), from €194,023 to €162,948
Income statement
- Gross operating margin -€543,723
down €543,723 (-70.0%), from €776,346 to €232,624
- Other operating charges -€13,943
down €13,943 (-20.6%), from €67,530 to €53,587
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
€446,977
Gross operating margin
-€543,723
Depreciation
-€1,342
Other operating charges
+€13,943
Financial income
+€910
Financial charges
+€731
Taxes
+€1,306
Deferred taxes and other
+€134,820
Result 2025
€53,623
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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
+€120,661
Investment
-€3,986
Financing
-€119,832
Cash 2024
€12,415
From operations (derived)
+€120,661
Net result for the year
+€53,623
Depreciation
+€115,159
Receivables within one year
-€3,354
Deferred charges and accrued income
+€7,460
Provisions
-€31,075
Trade debts
+€2,787
Tax, wage and social debts
-€9,274
Other debts
-€13,794
Accrued charges and deferred income
-€871
Investment (derived)
-€3,986
Investment in fixed assets (net)
-€3,986
Financing
-€119,832
Debts after one year
-€120,426
Current portion of long-term debt
+€594
Cash 2025
€9,259
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,130,600 | €2,012,164 | -€118,436 | -5.6% |
| Fixed assets | 21/28 | €2,011,957 | €1,900,783 | -€111,173 | -5.5% |
| Tangible fixed assets | 22/27 | €2,011,957 | €1,900,783 | -€111,173 | -5.5% |
| Land and buildings | 22 | €1,962,124 | €1,862,450 | -€99,673 | -5.1% |
| Furniture and vehicles | 24 | €49,833 | €38,333 | -€11,500 | -23.1% |
| Current assets | 29/58 | €118,643 | €111,380 | -€7,263 | -6.1% |
| Amounts receivable within one year | 40/41 | €90,438 | €93,791 | +€3,354 | +3.7% |
| Trade receivables | 40 | - | €7,817 | +€7,817 | |
| Other amounts receivable | 41 | €90,438 | €85,975 | -€4,463 | -4.9% |
| Cash at bank and in hand | 54/58 | €12,415 | €9,259 | -€3,156 | -25.4% |
| Deferred charges and accrued income | 490/1 | €15,791 | €8,330 | -€7,460 | -47.2% |
| Total equity and liabilities | 10/49 | €2,130,600 | €2,012,164 | -€118,436 | -5.6% |
| Equity | 10/15 | €820,921 | €874,544 | +€53,623 | +6.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €758,921 | €812,544 | +€53,623 | +7.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €544,304 | €482,233 | -€62,071 | -11.4% |
| Distributable reserves | 133 | €208,417 | €324,111 | +€115,694 | +55.5% |
| Provisions and deferred taxes | 16 | €194,023 | €162,948 | -€31,075 | -16.0% |
| Deferred taxes | 168 | €194,023 | €162,948 | -€31,075 | -16.0% |
| Amounts payable | 17/49 | €1,115,656 | €974,672 | -€140,984 | -12.6% |
| Amounts payable after more than one year | 17 | €752,959 | €632,533 | -€120,426 | -16.0% |
| Financial debts | 170/4 | €723,518 | €597,992 | -€125,526 | -17.3% |
| Other amounts payable | 178/9 | €29,441 | €34,541 | +€5,100 | +17.3% |
| Amounts payable within one year | 42/48 | €339,430 | €319,744 | -€19,686 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €40,432 | €41,026 | +€594 | +1.5% |
| Trade debts | 44 | €34,749 | €37,536 | +€2,787 | +8.0% |
| Suppliers | 440/4 | €34,749 | €37,536 | +€2,787 | +8.0% |
| Taxes, remuneration and social security | 45 | €9,274 | €0 | -€9,274 | -100% |
| Taxes | 450/3 | €9,274 | €0 | -€9,274 | -100% |
| Other amounts payable | 47/48 | €254,975 | €241,181 | -€13,794 | -5.4% |
| Accrued charges and deferred income | 492/3 | €23,268 | €22,396 | -€871 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,817 | €115,159 | +€1,342 | +1.2% |
| Other operating charges | 640/8 | €67,530 | €53,587 | -€13,943 | -20.6% |
| Gross operating margin | 9900 | €776,346 | €232,624 | -€543,723 | -70.0% |
| Operating profit (loss) | 9901 | €594,999 | €63,878 | -€531,121 | -89.3% |
| Financial income | 75/76B | €3,535 | €4,445 | +€910 | +25.7% |
| Recurring financial income | 75 | €3,535 | €4,445 | +€910 | +25.7% |
| Financial charges | 65/66B | €13,538 | €12,807 | -€731 | -5.4% |
| Recurring financial charges | 65 | €13,538 | €12,807 | -€731 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €584,996 | €55,516 | -€529,480 | -90.5% |
| Transfer from deferred taxes | 780 | €31,075 | €31,075 | = | 0.0% |
| Transfer to deferred taxes | 680 | €134,820 | €0 | -€134,820 | -100% |
| Income taxes | 67/77 | €34,274 | €32,968 | -€1,306 | -3.8% |
| Profit (loss) for the period | 9904 | €446,977 | €53,623 | -€393,354 | -88.0% |
| Transfer from tax-exempt reserves | 789 | €62,071 | €62,071 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €404,460 | €0 | -€404,460 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €104,588 | €115,694 | +€11,106 | +10.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.