IMMO THIBAUT: 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 THIBAUT
Largest movements
- Cash -€25,398
down €25,398 (-56.3%), from €45,092 to €19,694
mainly Investment in fixed assets (net) (-€49,097) and Net result for the year (-€41,835)
- Profit (loss) carried forward -€41,835
down €41,835 (-20.1%), from -€207,919 to -€249,753
- Other operating charges +€13,221
up €13,221 (+75.4%), from €17,536 to €30,757
- Gross operating margin -€7,775
down €7,775 (-9.0%), from €85,994 to €78,218
- Depreciation +€4,794
up €4,794 (+8.3%), from €57,476 to €62,270
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 | €1,757,552 | €1,718,980 | -€38,571 | -2.2% |
| Fixed assets | 21/28 | €1,712,460 | €1,699,287 | -€13,173 | -0.8% |
| Tangible fixed assets | 22/27 | €1,712,460 | €1,699,287 | -€13,173 | -0.8% |
| Land and buildings | 22 | €1,710,467 | €1,697,944 | -€12,523 | -0.7% |
| Furniture and vehicles | 24 | €650 | - | -€650 | |
| Other tangible fixed assets | 26 | €1,343 | €1,343 | = | 0.0% |
| Current assets | 29/58 | €45,092 | €19,694 | -€25,398 | -56.3% |
| Cash at bank and in hand | 54/58 | €45,092 | €19,694 | -€25,398 | -56.3% |
| Total equity and liabilities | 10/49 | €1,757,552 | €1,718,980 | -€38,571 | -2.2% |
| Equity | 10/15 | €1,074,583 | €1,032,748 | -€41,835 | -3.9% |
| Contributions | 10/11 | €1,250,000 | €1,250,000 | = | 0.0% |
| Capital | 10 | €1,250,000 | €1,250,000 | = | 0.0% |
| Issued capital | 100 | €1,250,000 | €1,250,000 | = | 0.0% |
| Reserves | 13 | €32,502 | €32,502 | = | 0.0% |
| Non-distributable reserves | 130/1 | €32,502 | €32,502 | = | 0.0% |
| Legal reserve | 130 | €32,502 | €32,502 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€207,919 | -€249,753 | -€41,835 | -20.1% |
| Amounts payable | 17/49 | €682,969 | €686,232 | +€3,263 | +0.5% |
| Amounts payable after more than one year | 17 | €590,000 | €590,000 | = | 0.0% |
| Financial debts | 170/4 | €590,000 | €590,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €81,903 | €88,060 | +€6,156 | +7.5% |
| Trade debts | 44 | €8,100 | €8,100 | = | 0.0% |
| Suppliers | 440/4 | €8,100 | €8,100 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €339 | €351 | +€12 | +3.5% |
| Taxes | 450/3 | €339 | €351 | +€12 | +3.5% |
| Other amounts payable | 47/48 | €73,465 | €79,609 | +€6,145 | +8.4% |
| Accrued charges and deferred income | 492/3 | €11,065 | €8,172 | -€2,893 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,476 | €62,270 | +€4,794 | +8.3% |
| Other operating charges | 640/8 | €17,536 | €30,757 | +€13,221 | +75.4% |
| Gross operating margin | 9900 | €85,994 | €78,218 | -€7,775 | -9.0% |
| Operating profit (loss) | 9901 | €10,982 | -€14,809 | -€25,791 | |
| Financial income | 75/76B | €304 | €159 | -€145 | -47.7% |
| Recurring financial income | 75 | €304 | €159 | -€145 | -47.7% |
| Financial charges | 65/66B | €27,029 | €27,009 | -€20 | -0.1% |
| Recurring financial charges | 65 | €27,029 | €27,009 | -€20 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€15,743 | -€41,658 | -€25,915 | -164.6% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€15,917 | -€41,835 | -€25,917 | -162.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,917 | -€41,835 | -€25,917 | -162.8% |
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 9 October 2026 via checked.be.