Immo Ternell: 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.
Immo Ternell
Largest movements
- Cash -€496
down €496 (-4.7%), from €10,467 to €9,971
mainly Trade debts (-€14,998) and Net result for the year (-€609)
- Formation expenses -€208
down €208 (-47.0%), from €444 to €235
- Trade debts -€14,998
down €14,998 (-100.0%), from €14,998 to €0
- Other debts +€14,902
up €14,902 (+927.6%), from €1,607 to €16,509
- Profit (loss) carried forward -€609
down €609 (-2.9%), from -€20,694 to -€21,303
- Financial charges -€2,320
down €2,320 (-92.4%), from €2,512 to €192
- Gross operating margin +€859
up €859, from -€764 to €96
- Other operating charges +€400
new in 2025: €400
- Financial income +€96
new in 2025: €96
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,910 | €10,206 | -€704 | -6.5% |
| Formation expenses | 20 | €444 | €235 | -€208 | -47.0% |
| Current assets | 29/58 | €10,467 | €9,971 | -€496 | -4.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €10,467 | €9,971 | -€496 | -4.7% |
| Total equity and liabilities | 10/49 | €10,910 | €10,206 | -€704 | -6.5% |
| Equity | 10/15 | -€5,694 | -€6,303 | -€609 | -10.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,694 | -€21,303 | -€609 | -2.9% |
| Amounts payable | 17/49 | €16,604 | €16,509 | -€96 | -0.6% |
| Amounts payable within one year | 42/48 | €16,604 | €16,509 | -€96 | -0.6% |
| Trade debts | 44 | €14,998 | €0 | -€14,998 | -100.0% |
| Suppliers | 440/4 | €14,998 | €0 | -€14,998 | -100.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,607 | €16,509 | +€14,902 | +927.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208 | €208 | +€0 | +0.1% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | -€764 | €96 | +€859 | |
| Operating profit (loss) | 9901 | -€972 | -€513 | +€459 | +47.3% |
| Financial income | 75/76B | - | €96 | +€96 | |
| Recurring financial income | 75 | - | €96 | +€96 | |
| Financial charges | 65/66B | €2,512 | €192 | -€2,320 | -92.4% |
| Recurring financial charges | 65 | €2,512 | €192 | -€2,320 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,483 | -€609 | +€2,875 | +82.5% |
| Profit (loss) for the period | 9904 | -€3,483 | -€609 | +€2,875 | +82.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,483 | -€609 | +€2,875 | +82.5% |
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 1 October 2026 via checked.be.