Immo Trebel: 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 Trebel
Largest movements
- Tangible fixed assets -€20,449
down €20,449 (-17.8%), from €115,104 to €94,654
of which Other tangible fixed assets: -€16,115
- Receivables within one year +€7,614
up €7,614 (+111.1%), from €6,854 to €14,468
- Advances received +€77,819
up €77,819 (+55.4%), from €140,550 to €218,369
- Profit (loss) carried forward -€63,413
down €63,413 (-29.3%), from -€216,438 to -€279,851
- Other debts -€21,148
down €21,148 (-9.6%), from €221,355 to €200,207
- Trade debts -€4,389
down €4,389 (-30.8%), from €14,260 to €9,871
- Gross operating margin -€44,290
down €44,290 (-94.9%), from €46,670 to €2,380
- Other operating charges -€7,014
down €7,014 (-57.2%), from €12,255 to €5,241
- Staff costs +€2,029
up €2,029 (+5.9%), from €34,497 to €36,526
- Financial charges -€716
down €716 (-62.7%), from €1,141 to €425
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 | €195,657 | €182,941 | -€12,715 | -6.5% |
| Fixed assets | 21/28 | €115,354 | €94,904 | -€20,449 | -17.7% |
| Tangible fixed assets | 22/27 | €115,104 | €94,654 | -€20,449 | -17.8% |
| Land and buildings | 22 | €27,409 | €21,005 | -€6,404 | -23.4% |
| Plant, machinery and equipment | 23 | €20 | - | -€20 | |
| Furniture and vehicles | 24 | €279 | €2,368 | +€2,089 | +748.5% |
| Other tangible fixed assets | 26 | €87,396 | €71,281 | -€16,115 | -18.4% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €80,303 | €88,037 | +€7,734 | +9.6% |
| Amounts receivable within one year | 40/41 | €6,854 | €14,468 | +€7,614 | +111.1% |
| Trade receivables | 40 | €6,854 | €14,468 | +€7,614 | +111.1% |
| Cash at bank and in hand | 54/58 | €68,683 | €68,693 | +€10 | 0.0% |
| Deferred charges and accrued income | 490/1 | €4,766 | €4,876 | +€110 | +2.3% |
| Total equity and liabilities | 10/49 | €195,657 | €182,941 | -€12,715 | -6.5% |
| Equity | 10/15 | -€195,987 | -€259,400 | -€63,413 | -32.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€216,438 | -€279,851 | -€63,413 | -29.3% |
| Amounts payable | 17/49 | €391,644 | €442,342 | +€50,698 | +12.9% |
| Amounts payable within one year | 42/48 | €391,644 | €442,342 | +€50,698 | +12.9% |
| Trade debts | 44 | €14,260 | €9,871 | -€4,389 | -30.8% |
| Suppliers | 440/4 | €14,260 | €9,871 | -€4,389 | -30.8% |
| Advances received on contracts in progress | 46 | €140,550 | €218,369 | +€77,819 | +55.4% |
| Taxes, remuneration and social security | 45 | €15,479 | €13,895 | -€1,584 | -10.2% |
| Taxes | 450/3 | €8,157 | €6,246 | -€1,911 | -23.4% |
| Remuneration and social security | 454/9 | €7,321 | €7,648 | +€327 | +4.5% |
| Other amounts payable | 47/48 | €221,355 | €200,207 | -€21,148 | -9.6% |
| Remuneration, social security and pensions | 62 | €34,497 | €36,526 | +€2,029 | +5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,011 | €22,880 | -€131 | -0.6% |
| Other operating charges | 640/8 | €12,255 | €5,241 | -€7,014 | -57.2% |
| Gross operating margin | 9900 | €46,670 | €2,380 | -€44,290 | -94.9% |
| Operating profit (loss) | 9901 | -€23,093 | -€62,267 | -€39,175 | -169.6% |
| Financial income | 75/76B | €11 | €8 | -€3 | -27.3% |
| Recurring financial income | 75 | €11 | €8 | -€3 | -27.3% |
| Financial charges | 65/66B | €1,141 | €425 | -€716 | -62.7% |
| Recurring financial charges | 65 | €1,141 | €425 | -€716 | -62.7% |
| Profit (loss) for the period before taxes | 9903 | -€24,223 | -€62,684 | -€38,462 | -158.8% |
| Income taxes | 67/77 | €1,014 | €729 | -€286 | -28.2% |
| Profit (loss) for the period | 9904 | -€25,237 | -€63,413 | -€38,176 | -151.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,237 | -€63,413 | -€38,176 | -151.3% |
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.