T & M Immo: 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.
T & M Immo
Largest movements
- Tangible fixed assets +€313,344
up €313,344 (+187%), from €167,321 to €480,665
- Intangible fixed assets -€33,462
down €33,462 (-6.8%), from €493,566 to €460,104
- Cash -€15,505
down €15,505 (-64.3%), from €24,114 to €8,609
mainly Investment in fixed assets (net) (-€317,580) and Receivables within one year (-€10,112)
- Receivables within one year +€10,112
new in 2025: €10,112
of which Trade receivables: +€5,112
- Debts after one year +€270,304
up €270,304 (+64.1%), from €421,779 to €692,083
- Current portion of long-term debt +€11,461
up €11,461 (+35.6%), from €32,186 to €43,647
- Gross operating margin -€28,651
down €28,651 (-33.6%), from €85,261 to €56,610
- Financial charges +€8,756
up €8,756 (+101%), from €8,660 to €17,416
- Taxes -€8,607
no longer reported in 2025 (was €8,607)
- Other operating charges +€2,755
up €2,755 (+46.9%), from €5,879 to €8,634
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 | €685,243 | €959,996 | +€274,753 | +40.1% |
| Fixed assets | 21/28 | €660,888 | €940,769 | +€279,882 | +42.3% |
| Intangible fixed assets | 21 | €493,566 | €460,104 | -€33,462 | -6.8% |
| Tangible fixed assets | 22/27 | €167,321 | €480,665 | +€313,344 | +187% |
| Land and buildings | 22 | €167,321 | €480,665 | +€313,344 | +187% |
| Current assets | 29/58 | €24,355 | €19,226 | -€5,129 | -21.1% |
| Amounts receivable within one year | 40/41 | - | €10,112 | +€10,112 | |
| Trade receivables | 40 | - | €5,112 | +€5,112 | |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €24,114 | €8,609 | -€15,505 | -64.3% |
| Deferred charges and accrued income | 490/1 | €241 | €505 | +€265 | +110% |
| Total equity and liabilities | 10/49 | €685,243 | €959,996 | +€274,753 | +40.1% |
| Equity | 10/15 | €208,340 | €201,202 | -€7,138 | -3.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €71,703 | €71,703 | = | 0.0% |
| Non-distributable reserves | 130/1 | €48 | €48 | = | 0.0% |
| Reserves not available under the articles | 1311 | €48 | €48 | = | 0.0% |
| Distributable reserves | 133 | €71,654 | €71,654 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,637 | €29,499 | -€7,138 | -19.5% |
| Amounts payable | 17/49 | €476,902 | €758,793 | +€281,891 | +59.1% |
| Amounts payable after more than one year | 17 | €421,779 | €692,083 | +€270,304 | +64.1% |
| Financial debts | 170/4 | €421,779 | €692,083 | +€270,304 | +64.1% |
| Amounts payable within one year | 42/48 | €55,124 | €66,710 | +€11,587 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | €32,186 | €43,647 | +€11,461 | +35.6% |
| Trade debts | 44 | €170 | €1,045 | +€876 | +516% |
| Suppliers | 440/4 | €170 | €1,045 | +€876 | +516% |
| Taxes, remuneration and social security | 45 | €4,040 | - | -€4,040 | |
| Taxes | 450/3 | €4,040 | - | -€4,040 | |
| Other amounts payable | 47/48 | €18,728 | €22,018 | +€3,290 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,166 | €37,698 | +€532 | +1.4% |
| Other operating charges | 640/8 | €5,879 | €8,634 | +€2,755 | +46.9% |
| Gross operating margin | 9900 | €85,261 | €56,610 | -€28,651 | -33.6% |
| Operating profit (loss) | 9901 | €42,216 | €10,278 | -€31,938 | -75.7% |
| Financial charges | 65/66B | €8,660 | €17,416 | +€8,756 | +101% |
| Recurring financial charges | 65 | €8,660 | €17,416 | +€8,756 | +101% |
| Profit (loss) for the period before taxes | 9903 | €33,556 | -€7,138 | -€40,694 | |
| Income taxes | 67/77 | €8,607 | - | -€8,607 | |
| Profit (loss) for the period | 9904 | €24,949 | -€7,138 | -€32,087 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,949 | -€7,138 | -€32,087 |
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 20 October 2026 via checked.be.