IMMO TERVUREN: 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 TERVUREN
Largest movements
- Current investments +€26,169
up €26,169 (+51.5%), from €50,837 to €77,006
- Cash +€22,397
up €22,397 (+45.6%), from €49,150 to €71,546
mainly Other debts (+€52,511) and Net result for the year (+€38,115)
- Receivables within one year -€10,273
down €10,273 (-20.9%), from €49,185 to €38,912
of which Trade receivables: -€9,919
- Tangible fixed assets -€3,472
down €3,472 (-10.3%), from €33,866 to €30,394
of which Land and buildings: -€3,068
- Receivables after one year -€3,271
down €3,271 (-20.1%), from €16,271 to €13,000
- Reserves -€55,500
down €55,500 (-30.3%), from €183,075 to €127,575
- Other debts +€52,511
up €52,511 (+10,501%), from €500 to €53,011
- Profit (loss) carried forward +€38,115
up €38,115 (+16,453%), from €232 to €38,346
- Tax, wage and social debts -€4,190
down €4,190 (-41.9%), from €10,000 to €5,810
- Gross operating margin +€11,722
up €11,722 (+35.0%), from €33,451 to €45,173
- Financial income +€3,361
up €3,361 (+220%), from €1,529 to €4,890
- Depreciation -€1,306
down €1,306 (-25.0%), from €5,233 to €3,927
- Taxes -€789
down €789 (-10.2%), from €7,708 to €6,919
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 | €199,309 | €230,858 | +€31,549 | +15.8% |
| Fixed assets | 21/28 | €33,866 | €30,394 | -€3,472 | -10.3% |
| Tangible fixed assets | 22/27 | €33,866 | €30,394 | -€3,472 | -10.3% |
| Land and buildings | 22 | €27,059 | €23,991 | -€3,068 | -11.3% |
| Furniture and vehicles | 24 | €484 | €797 | +€312 | +64.5% |
| Other tangible fixed assets | 26 | €6,323 | €5,606 | -€717 | -11.3% |
| Current assets | 29/58 | €165,443 | €200,464 | +€35,022 | +21.2% |
| Amounts receivable after more than one year | 29 | €16,271 | €13,000 | -€3,271 | -20.1% |
| Other amounts receivable | 291 | €16,271 | €13,000 | -€3,271 | -20.1% |
| Amounts receivable within one year | 40/41 | €49,185 | €38,912 | -€10,273 | -20.9% |
| Trade receivables | 40 | €37,957 | €28,039 | -€9,919 | -26.1% |
| Other amounts receivable | 41 | €11,227 | €10,873 | -€354 | -3.2% |
| Current investments | 50/53 | €50,837 | €77,006 | +€26,169 | +51.5% |
| Cash at bank and in hand | 54/58 | €49,150 | €71,546 | +€22,397 | +45.6% |
| Total equity and liabilities | 10/49 | €199,309 | €230,858 | +€31,549 | +15.8% |
| Equity | 10/15 | €188,307 | €170,921 | -€17,385 | -9.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €183,075 | €127,575 | -€55,500 | -30.3% |
| Distributable reserves | 133 | €183,075 | €127,575 | -€55,500 | -30.3% |
| Profit (loss) carried forward | 14 | €232 | €38,346 | +€38,115 | +16,453% |
| Amounts payable | 17/49 | €11,002 | €59,937 | +€48,934 | +445% |
| Amounts payable within one year | 42/48 | €11,002 | €59,937 | +€48,934 | +445% |
| Trade debts | 44 | €502 | €1,115 | +€613 | +122% |
| Suppliers | 440/4 | €502 | €1,115 | +€613 | +122% |
| Taxes, remuneration and social security | 45 | €10,000 | €5,810 | -€4,190 | -41.9% |
| Taxes | 450/3 | €10,000 | €5,810 | -€4,190 | -41.9% |
| Other amounts payable | 47/48 | €500 | €53,011 | +€52,511 | +10,501% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,233 | €3,927 | -€1,306 | -25.0% |
| Other operating charges | 640/8 | €990 | €1,028 | +€38 | +3.9% |
| Gross operating margin | 9900 | €33,451 | €45,173 | +€11,722 | +35.0% |
| Operating profit (loss) | 9901 | €27,228 | €40,218 | +€12,990 | +47.7% |
| Financial income | 75/76B | €1,529 | €4,890 | +€3,361 | +220% |
| Recurring financial income | 75 | €1,529 | €4,890 | +€3,361 | +220% |
| Financial charges | 65/66B | €85 | €75 | -€10 | -11.9% |
| Recurring financial charges | 65 | €85 | €75 | -€10 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | €28,672 | €45,034 | +€16,362 | +57.1% |
| Income taxes | 67/77 | €7,708 | €6,919 | -€789 | -10.2% |
| Profit (loss) for the period | 9904 | €20,964 | €38,115 | +€17,151 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,964 | €38,115 | +€17,151 | +81.8% |
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 20 October 2026 via checked.be.