IMMO TFB: 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 TFB
Largest movements
- Tangible fixed assets +€72,942
up €72,942 (+41.0%), from €178,038 to €250,981
of which Other tangible fixed assets: +€227,844
- Cash -€13,495
down €13,495 (-97.8%), from €13,796 to €301
mainly Investment in fixed assets (net) (-€95,758) and Net result for the year (-€79,624)
- Receivables within one year -€4,997
down €4,997 (-58.1%), from €8,595 to €3,598
of which Trade receivables: -€2,517
- Other debts +€102,000
up €102,000 (+53.7%), from €190,000 to €292,000
- Profit (loss) carried forward -€79,624
down €79,624 (-171.0%), from -€46,561 to -€126,184
- Trade debts +€28,663
up €28,663 (+65.8%), from €43,577 to €72,240
- Advances received +€3,412
new in 2025: €3,412
- Depreciation +€21,635
up €21,635 (+1832.3%), from €1,181 to €22,815
- Gross operating margin -€12,147
down €12,147 (-27.3%), from -€44,488 to -€56,635
- Other operating charges -€852
no longer reported in 2025 (was €852)
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 | €200,429 | €254,880 | +€54,451 | +27.2% |
| Fixed assets | 21/28 | €178,038 | €250,981 | +€72,942 | +41.0% |
| Tangible fixed assets | 22/27 | €178,038 | €250,981 | +€72,942 | +41.0% |
| Furniture and vehicles | 24 | €7,383 | €23,137 | +€15,754 | +213.4% |
| Other tangible fixed assets | 26 | - | €227,844 | +€227,844 | |
| Assets under construction and advance payments | 27 | €170,655 | - | -€170,655 | |
| Current assets | 29/58 | €22,391 | €3,899 | -€18,491 | -82.6% |
| Amounts receivable within one year | 40/41 | €8,595 | €3,598 | -€4,997 | -58.1% |
| Trade receivables | 40 | €2,898 | €381 | -€2,517 | -86.8% |
| Other amounts receivable | 41 | €5,697 | €3,217 | -€2,480 | -43.5% |
| Cash at bank and in hand | 54/58 | €13,796 | €301 | -€13,495 | -97.8% |
| Total equity and liabilities | 10/49 | €200,429 | €254,880 | +€54,451 | +27.2% |
| Equity | 10/15 | -€36,561 | -€116,184 | -€79,624 | -217.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,561 | -€126,184 | -€79,624 | -171.0% |
| Amounts payable | 17/49 | €236,990 | €371,064 | +€134,075 | +56.6% |
| Amounts payable after more than one year | 17 | €3,412 | €3,412 | = | 0.0% |
| Other amounts payable | 178/9 | €3,412 | €3,412 | = | 0.0% |
| Amounts payable within one year | 42/48 | €233,577 | €367,652 | +€134,075 | +57.4% |
| Trade debts | 44 | €43,577 | €72,240 | +€28,663 | +65.8% |
| Suppliers | 440/4 | €43,577 | €72,240 | +€28,663 | +65.8% |
| Advances received on contracts in progress | 46 | - | €3,412 | +€3,412 | |
| Other amounts payable | 47/48 | €190,000 | €292,000 | +€102,000 | +53.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,181 | €22,815 | +€21,635 | +1832.3% |
| Other operating charges | 640/8 | €852 | - | -€852 | |
| Gross operating margin | 9900 | -€44,488 | -€56,635 | -€12,147 | -27.3% |
| Operating profit (loss) | 9901 | -€46,521 | -€79,451 | -€32,930 | -70.8% |
| Financial charges | 65/66B | €40 | €173 | +€133 | +334.3% |
| Recurring financial charges | 65 | €40 | €173 | +€133 | +334.3% |
| Profit (loss) for the period before taxes | 9903 | -€46,561 | -€79,624 | -€33,063 | -71.0% |
| Profit (loss) for the period | 9904 | -€46,561 | -€79,624 | -€33,063 | -71.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,561 | -€79,624 | -€33,063 | -71.0% |
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 3 October 2026 via checked.be.