IMMO-THEP: 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-THEP
Largest movements
- Receivables within one year +€174,451
up €174,451 (+357555.3%), from €49 to €174,500
of which Other amounts receivable: +€134,951
- Tangible fixed assets -€133,016
down €133,016 (-81.9%), from €162,479 to €29,464
- Cash +€3,111
up €3,111 (+213.4%), from €1,458 to €4,569
mainly Investment in fixed assets (net) (+€129,933) and Net result for the year (+€87,941)
- Reserves +€93,673
up €93,673 (+31224.3%), from €300 to €93,973
of which Tax-exempt reserves: +€93,673
- Debts after one year -€59,800
down €59,800 (-98.0%), from €61,000 to €1,200
- Provisions +€31,224
new in 2025: €31,224
- Trade debts -€26,544
down €26,544 (-83.8%), from €31,663 to €5,120
- Other debts +€11,725
new in 2025: €11,725
- Gross operating margin +€128,095
up €128,095 (+943.1%), from €13,583 to €141,678
- Depreciation -€4,622
down €4,622 (-60.0%), from €7,704 to €3,082
- Other operating charges -€3,760
down €3,760 (-100.0%), from €3,760 to €0
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 | €163,986 | €208,532 | +€44,547 | +27.2% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €162,479 | €29,464 | -€133,016 | -81.9% |
| Tangible fixed assets | 22/27 | €162,479 | €29,464 | -€133,016 | -81.9% |
| Land and buildings | 22 | €162,479 | €29,464 | -€133,016 | -81.9% |
| Current assets | 29/58 | €1,506 | €179,069 | +€177,562 | +11787.0% |
| Amounts receivable within one year | 40/41 | €49 | €174,500 | +€174,451 | +357555.3% |
| Trade receivables | 40 | - | €39,500 | +€39,500 | |
| Other amounts receivable | 41 | €49 | €135,000 | +€134,951 | +276596.0% |
| Cash at bank and in hand | 54/58 | €1,458 | €4,569 | +€3,111 | +213.4% |
| Total equity and liabilities | 10/49 | €163,986 | €208,532 | +€44,547 | +27.2% |
| Equity | 10/15 | €70,757 | €158,699 | +€87,941 | +124.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €300 | €93,973 | +€93,673 | +31224.3% |
| Tax-exempt reserves | 132 | - | €93,673 | +€93,673 | |
| Distributable reserves | 133 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,857 | €46,126 | -€5,732 | -11.1% |
| Provisions and deferred taxes | 16 | - | €31,224 | +€31,224 | |
| Deferred taxes | 168 | - | €31,224 | +€31,224 | |
| Amounts payable | 17/49 | €93,228 | €18,609 | -€74,619 | -80.0% |
| Amounts payable after more than one year | 17 | €61,000 | €1,200 | -€59,800 | -98.0% |
| Other amounts payable | 178/9 | €61,000 | €1,200 | -€59,800 | -98.0% |
| Amounts payable within one year | 42/48 | €32,228 | €17,409 | -€14,819 | -46.0% |
| Trade debts | 44 | €31,663 | €5,120 | -€26,544 | -83.8% |
| Suppliers | 440/4 | €31,663 | €5,120 | -€26,544 | -83.8% |
| Taxes, remuneration and social security | 45 | €565 | €565 | = | 0.0% |
| Taxes | 450/3 | €565 | €565 | = | 0.0% |
| Other amounts payable | 47/48 | - | €11,725 | +€11,725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,704 | €3,082 | -€4,622 | -60.0% |
| Other operating charges | 640/8 | €3,760 | €0 | -€3,760 | -100.0% |
| Non-recurring operating charges | 66A | - | €19,370 | +€19,370 | |
| Gross operating margin | 9900 | €13,583 | €141,678 | +€128,095 | +943.1% |
| Operating profit (loss) | 9901 | €2,118 | €119,225 | +€117,107 | +5528.7% |
| Financial charges | 65/66B | €45 | €60 | +€15 | +32.3% |
| Recurring financial charges | 65 | €45 | €60 | +€15 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | €2,073 | €119,166 | +€117,093 | +5648.1% |
| Transfer to deferred taxes | 680 | - | €31,224 | +€31,224 | |
| Income taxes | 67/77 | €565 | - | -€565 | |
| Profit (loss) for the period | 9904 | €1,508 | €87,941 | +€86,433 | +5730.8% |
| Transfer to tax-exempt reserves | 689 | - | €93,673 | +€93,673 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,508 | -€5,732 | -€7,240 |
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 12 October 2026 via checked.be.