IMMO TVR PLUS: 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 TVR PLUS
Largest movements
- Current investments -€830,000
no longer reported in 2025 (was €830,000)
- Cash +€700,248
up €700,248 (+584%), from €119,984 to €820,232
mainly Current investments (+€830,000) and Investment in fixed assets (net) (+€266,280)
- Receivables within one year +€338,651
up €338,651 (+22.9%), from €1.5m to €1.8m
of which Other amounts receivable: +€235,115
- Tangible fixed assets -€294,613
down €294,613 (-35.8%), from €823,359 to €528,746
of which Land and buildings: -€179,448
- Other debts -€188,915
down €188,915 (-98.7%), from €191,415 to €2,501
- Reserves +€100,814
up €100,814 (+4.9%), from €2.1m to €2.2m
- Gross operating margin -€74,194
down €74,194 (-31.2%), from €237,433 to €163,238
- Depreciation -€30,788
down €30,788 (-52.1%), from €59,121 to €28,333
- Other operating charges -€12,327
down €12,327 (-41.3%), from €29,834 to €17,507
- Taxes -€10,046
down €10,046 (-22.4%), from €44,827 to €34,780
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.
Derived cash bridge
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 | €3,257,166 | €3,167,511 | -€89,655 | -2.8% |
| Fixed assets | 21/28 | €823,359 | €528,746 | -€294,613 | -35.8% |
| Tangible fixed assets | 22/27 | €823,359 | €528,746 | -€294,613 | -35.8% |
| Land and buildings | 22 | €706,702 | €527,254 | -€179,448 | -25.4% |
| Furniture and vehicles | 24 | €114,718 | €0 | -€114,718 | -100% |
| Other tangible fixed assets | 26 | €1,939 | €1,491 | -€448 | -23.1% |
| Current assets | 29/58 | €2,433,807 | €2,638,765 | +€204,958 | +8.4% |
| Amounts receivable within one year | 40/41 | €1,477,102 | €1,815,753 | +€338,651 | +22.9% |
| Trade receivables | 40 | €1,464 | €105,000 | +€103,536 | +7,071% |
| Other amounts receivable | 41 | €1,475,638 | €1,710,753 | +€235,115 | +15.9% |
| Current investments | 50/53 | €830,000 | - | -€830,000 | |
| Cash at bank and in hand | 54/58 | €119,984 | €820,232 | +€700,248 | +584% |
| Deferred charges and accrued income | 490/1 | €6,721 | €2,780 | -€3,941 | -58.6% |
| Total equity and liabilities | 10/49 | €3,257,166 | €3,167,511 | -€89,655 | -2.8% |
| Equity | 10/15 | €3,046,922 | €3,147,736 | +€100,814 | +3.3% |
| Contributions | 10/11 | €977,887 | €977,887 | = | 0.0% |
| Reserves | 13 | €2,069,035 | €2,169,849 | +€100,814 | +4.9% |
| Distributable reserves | 133 | €2,069,035 | €2,169,849 | +€100,814 | +4.9% |
| Amounts payable | 17/49 | €210,244 | €19,774 | -€190,470 | -90.6% |
| Amounts payable within one year | 42/48 | €203,003 | €16,206 | -€186,797 | -92.0% |
| Trade debts | 44 | €2,901 | €527 | -€2,374 | -81.8% |
| Suppliers | 440/4 | €2,901 | €527 | -€2,374 | -81.8% |
| Taxes, remuneration and social security | 45 | €8,686 | €13,178 | +€4,492 | +51.7% |
| Taxes | 450/3 | €8,686 | €13,178 | +€4,492 | +51.7% |
| Other amounts payable | 47/48 | €191,415 | €2,501 | -€188,915 | -98.7% |
| Accrued charges and deferred income | 492/3 | €7,241 | €3,568 | -€3,673 | -50.7% |
| Non-recurring operating income | 76A | €171,739 | €75,437 | -€96,301 | -56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,121 | €28,333 | -€30,788 | -52.1% |
| Other operating charges | 640/8 | €29,834 | €17,507 | -€12,327 | -41.3% |
| Non-recurring operating charges | 66A | - | €19,695 | +€19,695 | |
| Gross operating margin | 9900 | €237,433 | €163,238 | -€74,194 | -31.2% |
| Operating profit (loss) | 9901 | €148,478 | €97,703 | -€50,774 | -34.2% |
| Financial income | 75/76B | €40,515 | €41,801 | +€1,287 | +3.2% |
| Recurring financial income | 75 | €40,515 | €41,801 | +€1,287 | +3.2% |
| Financial charges | 65/66B | €4,610 | €3,910 | -€700 | -15.2% |
| Recurring financial charges | 65 | €4,610 | €3,910 | -€700 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €184,383 | €135,595 | -€48,788 | -26.5% |
| Income taxes | 67/77 | €44,827 | €34,780 | -€10,046 | -22.4% |
| Profit (loss) for the period | 9904 | €139,556 | €100,814 | -€38,742 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €139,556 | €100,814 | -€38,742 | -27.8% |
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 29 October 2026 via checked.be.