TBH 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.
TBH IMMO
Largest movements
- Tangible fixed assets -€22,741
down €22,741 (-11.6%), from €195,395 to €172,655
of which Land and buildings: -€33,341
- Cash +€4,775
up €4,775 (+39.7%), from €12,034 to €16,809
mainly Depreciation (+€33,341) and Deferred charges and accrued income (+€1,105)
- Trade debts -€13,194
down €13,194 (-92.5%), from €14,267 to €1,073
- Reserves -€5,088
down €5,088 (-5.6%), from €90,218 to €85,130
of which Tax-exempt reserves: -€5,088
- Gross operating margin -€1,062
down €1,062 (-3.3%), from €32,205 to €31,142
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 | €209,675 | €190,604 | -€19,071 | -9.1% |
| Fixed assets | 21/28 | €195,395 | €172,655 | -€22,741 | -11.6% |
| Tangible fixed assets | 22/27 | €195,395 | €172,655 | -€22,741 | -11.6% |
| Land and buildings | 22 | €195,395 | €162,055 | -€33,341 | -17.1% |
| Assets under construction and advance payments | 27 | - | €10,600 | +€10,600 | |
| Current assets | 29/58 | €14,280 | €17,950 | +€3,670 | +25.7% |
| Cash at bank and in hand | 54/58 | €12,034 | €16,809 | +€4,775 | +39.7% |
| Deferred charges and accrued income | 490/1 | €2,246 | €1,140 | -€1,105 | -49.2% |
| Total equity and liabilities | 10/49 | €209,675 | €190,604 | -€19,071 | -9.1% |
| Equity | 10/15 | €165,691 | €161,510 | -€4,181 | -2.5% |
| Contributions | 10/11 | €6,800 | €6,800 | = | 0.0% |
| Reserves | 13 | €90,218 | €85,130 | -€5,088 | -5.6% |
| Tax-exempt reserves | 132 | €88,218 | €83,130 | -€5,088 | -5.8% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,673 | €69,580 | +€907 | +1.3% |
| Provisions and deferred taxes | 16 | €29,406 | €27,710 | -€1,696 | -5.8% |
| Deferred taxes | 168 | €29,406 | €27,710 | -€1,696 | -5.8% |
| Amounts payable | 17/49 | €14,578 | €1,384 | -€13,194 | -90.5% |
| Amounts payable within one year | 42/48 | €14,578 | €1,384 | -€13,194 | -90.5% |
| Trade debts | 44 | €14,267 | €1,073 | -€13,194 | -92.5% |
| Suppliers | 440/4 | €14,267 | €1,073 | -€13,194 | -92.5% |
| Other amounts payable | 47/48 | €311 | €311 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,157 | €33,341 | +€184 | +0.6% |
| Other operating charges | 640/8 | €3,365 | €3,394 | +€28 | +0.8% |
| Gross operating margin | 9900 | €32,205 | €31,142 | -€1,062 | -3.3% |
| Operating profit (loss) | 9901 | -€4,318 | -€5,592 | -€1,274 | -29.5% |
| Financial charges | 65/66B | €267 | €286 | +€18 | +6.9% |
| Recurring financial charges | 65 | €267 | €286 | +€18 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,585 | -€5,877 | -€1,293 | -28.2% |
| Transfer from deferred taxes | 780 | €1,696 | €1,696 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€2,889 | -€4,181 | -€1,293 | -44.7% |
| Transfer from tax-exempt reserves | 789 | €5,088 | €5,088 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,200 | €907 | -€1,293 | -58.8% |
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 10 October 2026 via checked.be.