Immo - Talo: 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.
Immo - Talo
Largest movements
- Receivables within one year +€39,649
up €39,649 (+151%), from €26,334 to €65,983
of which Other amounts receivable: +€31,954
- Financial fixed assets -€37,872
down €37,872 (-8.4%), from €452,892 to €415,020
- Tangible fixed assets -€37,480
down €37,480 (-17.4%), from €215,424 to €177,944
of which Land and buildings: -€33,429
- Profit (loss) carried forward +€76,961
up €76,961 (+92.5%), from -€83,239 to -€6,278
- Other debts -€66,816
down €66,816 (-19.2%), from €348,540 to €281,724
- Debts after one year -€19,464
down €19,464 (-93.4%), from €20,844 to €1,380
- Reserves -€15,848
down €15,848 (-14.4%), from €110,335 to €94,487
of which Tax-exempt reserves: -€15,848
- Provisions -€8,160
down €8,160 (-16.7%), from €48,962 to €40,802
- Financial income +€76,893
up €76,893, from €0 to €76,893
- Gross operating margin -€25,853
down €25,853 (-52.8%), from €48,967 to €23,114
- Depreciation +€1,687
up €1,687 (+4.7%), from €35,793 to €37,480
- Financial charges -€923
down €923 (-32.7%), from €2,821 to €1,897
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €699,430 | €663,019 | -€36,411 | -5.2% |
| Fixed assets | 21/28 | €668,316 | €592,964 | -€75,352 | -11.3% |
| Tangible fixed assets | 22/27 | €215,424 | €177,944 | -€37,480 | -17.4% |
| Land and buildings | 22 | €208,307 | €174,878 | -€33,429 | -16.0% |
| Furniture and vehicles | 24 | €7,117 | €3,066 | -€4,051 | -56.9% |
| Financial fixed assets | 28 | €452,892 | €415,020 | -€37,872 | -8.4% |
| Current assets | 29/58 | €31,113 | €70,055 | +€38,941 | +125% |
| Amounts receivable within one year | 40/41 | €26,334 | €65,983 | +€39,649 | +151% |
| Trade receivables | 40 | €20,946 | €28,641 | +€7,695 | +36.7% |
| Other amounts receivable | 41 | €5,388 | €37,342 | +€31,954 | +593% |
| Cash at bank and in hand | 54/58 | €1,971 | €1,369 | -€602 | -30.5% |
| Deferred charges and accrued income | 490/1 | €2,808 | €2,703 | -€105 | -3.7% |
| Total equity and liabilities | 10/49 | €699,430 | €663,019 | -€36,411 | -5.2% |
| Equity | 10/15 | €247,096 | €308,210 | +€61,113 | +24.7% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Capital | 10 | €220,000 | €220,000 | = | 0.0% |
| Issued capital | 100 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €110,335 | €94,487 | -€15,848 | -14.4% |
| Non-distributable reserves | 130/1 | €4,959 | €4,959 | = | 0.0% |
| Legal reserve | 130 | €4,959 | €4,959 | = | 0.0% |
| Tax-exempt reserves | 132 | €99,676 | €83,828 | -€15,848 | -15.9% |
| Distributable reserves | 133 | €5,700 | €5,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,239 | -€6,278 | +€76,961 | +92.5% |
| Provisions and deferred taxes | 16 | €48,962 | €40,802 | -€8,160 | -16.7% |
| Deferred taxes | 168 | €48,962 | €40,802 | -€8,160 | -16.7% |
| Amounts payable | 17/49 | €403,371 | €314,007 | -€89,364 | -22.2% |
| Amounts payable after more than one year | 17 | €20,844 | €1,380 | -€19,464 | -93.4% |
| Financial debts | 170/4 | €20,844 | €1,380 | -€19,464 | -93.4% |
| Amounts payable within one year | 42/48 | €382,527 | €312,627 | -€69,899 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €25,359 | €19,464 | -€5,895 | -23.2% |
| Trade debts | 44 | €6,273 | €6,758 | +€485 | +7.7% |
| Suppliers | 440/4 | €6,273 | €6,758 | +€485 | +7.7% |
| Taxes, remuneration and social security | 45 | €2,355 | €4,682 | +€2,327 | +98.8% |
| Taxes | 450/3 | €2,355 | €4,682 | +€2,327 | +98.8% |
| Other amounts payable | 47/48 | €348,540 | €281,724 | -€66,816 | -19.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,793 | €37,480 | +€1,687 | +4.7% |
| Other operating charges | 640/8 | €5,094 | €5,350 | +€256 | +5.0% |
| Gross operating margin | 9900 | €48,967 | €23,114 | -€25,853 | -52.8% |
| Operating profit (loss) | 9901 | €8,080 | -€19,716 | -€27,796 | |
| Financial income | 75/76B | €0 | €76,893 | +€76,893 | |
| Recurring financial income | 75 | €0 | €76,893 | +€76,893 | |
| Financial charges | 65/66B | €2,821 | €1,897 | -€923 | -32.7% |
| Recurring financial charges | 65 | €2,821 | €1,897 | -€923 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €5,260 | €55,280 | +€50,020 | +951% |
| Transfer from deferred taxes | 780 | €8,160 | €8,160 | = | 0.0% |
| Income taxes | 67/77 | €2,355 | €2,327 | -€28 | -1.2% |
| Profit (loss) for the period | 9904 | €11,065 | €61,113 | +€50,048 | +452% |
| Transfer from tax-exempt reserves | 789 | €15,848 | €15,848 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,913 | €76,961 | +€50,048 | +186% |
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 24 October 2026 via checked.be.