Immo TFRS: 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 TFRS
Largest movements
- Tangible fixed assets -€19,770
down €19,770 (-3.5%), from €570,224 to €550,454
of which Land and buildings: -€19,231
- Other debts -€35,488
down €35,488 (-12.3%), from €287,889 to €252,401
- Reserves +€21,954
up €21,954 (+8.8%), from €250,083 to €272,037
of which Distributable reserves: +€27,706
- Depreciation -€18,015
down €18,015 (-47.7%), from €37,785 to €19,770
- Taxes +€7,746
up €7,746 (+141.5%), from €5,476 to €13,221
- Gross operating margin +€6,094
up €6,094 (+9.4%), from €64,865 to €70,959
- Other operating charges +€1,367
up €1,367 (+19.8%), from €6,888 to €8,255
- Financial charges -€1,093
down €1,093 (-9.2%), from €11,815 to €10,722
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 | €601,280 | €586,196 | -€15,084 | -2.5% |
| Fixed assets | 21/28 | €570,224 | €550,454 | -€19,770 | -3.5% |
| Tangible fixed assets | 22/27 | €570,224 | €550,454 | -€19,770 | -3.5% |
| Land and buildings | 22 | €569,315 | €550,084 | -€19,231 | -3.4% |
| Plant, machinery and equipment | 23 | €910 | €370 | -€539 | -59.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €31,056 | €35,742 | +€4,686 | +15.1% |
| Amounts receivable within one year | 40/41 | €29 | €114 | +€85 | +289.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €29 | €114 | +€85 | +289.3% |
| Cash at bank and in hand | 54/58 | €30,203 | €34,655 | +€4,452 | +14.7% |
| Deferred charges and accrued income | 490/1 | €824 | €972 | +€149 | +18.0% |
| Total equity and liabilities | 10/49 | €601,280 | €586,196 | -€15,084 | -2.5% |
| Equity | 10/15 | €256,283 | €278,237 | +€21,954 | +8.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €250,083 | €272,037 | +€21,954 | +8.8% |
| Tax-exempt reserves | 132 | €109,296 | €103,543 | -€5,752 | -5.3% |
| Distributable reserves | 133 | €140,788 | €168,494 | +€27,706 | +19.7% |
| Provisions and deferred taxes | 16 | €56,304 | €53,340 | -€2,963 | -5.3% |
| Deferred taxes | 168 | €56,304 | €53,340 | -€2,963 | -5.3% |
| Amounts payable | 17/49 | €288,693 | €254,618 | -€34,074 | -11.8% |
| Amounts payable within one year | 42/48 | €288,629 | €254,553 | -€34,076 | -11.8% |
| Taxes, remuneration and social security | 45 | €740 | €2,152 | +€1,412 | +190.8% |
| Taxes | 450/3 | €740 | €2,152 | +€1,412 | +190.8% |
| Other amounts payable | 47/48 | €287,889 | €252,401 | -€35,488 | -12.3% |
| Accrued charges and deferred income | 492/3 | €64 | €66 | +€2 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,785 | €19,770 | -€18,015 | -47.7% |
| Other operating charges | 640/8 | €6,888 | €8,255 | +€1,367 | +19.8% |
| Gross operating margin | 9900 | €64,865 | €70,959 | +€6,094 | +9.4% |
| Operating profit (loss) | 9901 | €20,192 | €42,934 | +€22,743 | +112.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €11,815 | €10,722 | -€1,093 | -9.2% |
| Recurring financial charges | 65 | €11,815 | €10,722 | -€1,093 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €8,376 | €32,212 | +€23,835 | +284.6% |
| Transfer from deferred taxes | 780 | €2,963 | €2,963 | = | 0.0% |
| Income taxes | 67/77 | €5,476 | €13,221 | +€7,746 | +141.5% |
| Profit (loss) for the period | 9904 | €5,864 | €21,954 | +€16,090 | +274.4% |
| Transfer from tax-exempt reserves | 789 | €5,752 | €5,752 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,617 | €27,706 | +€16,090 | +138.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.