TBX-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.
TBX-Immo
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+109.9%), from €1.6m to €3.4m
of which Assets under construction and advance payments: +€1.8m
- Receivables within one year +€1.3m
up €1.3m (+5025.0%), from €25,555 to €1.3m
of which Trade receivables: +€1.3m
- Debts after one year +€1.7m
up €1.7m (+119.2%), from €1.4m to €3.1m
- Trade debts +€1.3m
up €1.3m (+4481.3%), from €30,011 to €1.4m
- Current portion of long-term debt +€87,654
up €87,654 (+247.9%), from €35,364 to €123,018
- Financial charges +€30,252
up €30,252 (+53.3%), from €56,792 to €87,044
- Financial income -€4,709
down €4,709 (-100.0%), from €4,711 to €2
- Depreciation -€3,735
down €3,735 (-20.7%), from €18,008 to €14,273
- Other operating charges -€2,767
down €2,767 (-51.6%), from €5,368 to €2,600
- Gross operating margin -€2,384
down €2,384 (-3.0%), from €78,827 to €76,443
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 | €1,687,452 | €4,779,947 | +€3.1m | +183.3% |
| Fixed assets | 21/28 | €1,638,384 | €3,439,414 | +€1.8m | +109.9% |
| Tangible fixed assets | 22/27 | €1,638,384 | €3,439,414 | +€1.8m | +109.9% |
| Land and buildings | 22 | €860,256 | €852,221 | -€8,035 | -0.9% |
| Plant, machinery and equipment | 23 | - | €2,389 | +€2,389 | |
| Furniture and vehicles | 24 | €2,372 | €6,864 | +€4,492 | +189.4% |
| Other tangible fixed assets | 26 | €765 | €581 | -€184 | -24.0% |
| Assets under construction and advance payments | 27 | €774,991 | €2,577,359 | +€1.8m | +232.6% |
| Current assets | 29/58 | €49,068 | €1,340,533 | +€1.3m | +2632.0% |
| Amounts receivable within one year | 40/41 | €25,555 | €1,309,713 | +€1.3m | +5025.0% |
| Trade receivables | 40 | €6,335 | €1,304,059 | +€1.3m | +20486.4% |
| Other amounts receivable | 41 | €19,221 | €5,654 | -€13,567 | -70.6% |
| Cash at bank and in hand | 54/58 | €0 | €9,524 | +€9,524 | |
| Deferred charges and accrued income | 490/1 | €23,513 | €21,297 | -€2,216 | -9.4% |
| Total equity and liabilities | 10/49 | €1,687,452 | €4,779,947 | +€3.1m | +183.3% |
| Equity | 10/15 | €109,166 | €81,364 | -€27,802 | -25.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €106,666 | €78,864 | -€27,802 | -26.1% |
| Distributable reserves | 133 | €106,666 | €78,864 | -€27,802 | -26.1% |
| Amounts payable | 17/49 | €1,578,286 | €4,698,583 | +€3.1m | +197.7% |
| Amounts payable after more than one year | 17 | €1,419,703 | €3,112,156 | +€1.7m | +119.2% |
| Financial debts | 170/4 | €1,419,703 | €3,112,156 | +€1.7m | +119.2% |
| Amounts payable within one year | 42/48 | €139,532 | €1,584,689 | +€1.4m | +1035.7% |
| Current portion of amounts payable after more than one year | 42 | €35,364 | €123,018 | +€87,654 | +247.9% |
| Financial debts | 43 | €5,087 | €0 | -€5,087 | -100.0% |
| Credit institutions | 430/8 | €5,087 | €0 | -€5,087 | -100.0% |
| Trade debts | 44 | €30,011 | €1,374,870 | +€1.3m | +4481.3% |
| Suppliers | 440/4 | €30,011 | €1,374,870 | +€1.3m | +4481.3% |
| Taxes, remuneration and social security | 45 | €11,043 | €0 | -€11,043 | -100.0% |
| Taxes | 450/3 | €11,043 | €0 | -€11,043 | -100.0% |
| Other amounts payable | 47/48 | €58,027 | €86,800 | +€28,774 | +49.6% |
| Accrued charges and deferred income | 492/3 | €19,052 | €1,738 | -€17,314 | -90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,008 | €14,273 | -€3,735 | -20.7% |
| Other operating charges | 640/8 | €5,368 | €2,600 | -€2,767 | -51.6% |
| Gross operating margin | 9900 | €78,827 | €76,443 | -€2,384 | -3.0% |
| Operating profit (loss) | 9901 | €55,452 | €59,570 | +€4,118 | +7.4% |
| Financial income | 75/76B | €4,711 | €2 | -€4,709 | -100.0% |
| Recurring financial income | 75 | €4,711 | €2 | -€4,709 | -100.0% |
| Financial charges | 65/66B | €56,792 | €87,044 | +€30,252 | +53.3% |
| Recurring financial charges | 65 | €56,792 | €87,044 | +€30,252 | +53.3% |
| Profit (loss) for the period before taxes | 9903 | €3,371 | -€27,472 | -€30,843 | |
| Income taxes | 67/77 | €1,979 | €330 | -€1,650 | -83.3% |
| Profit (loss) for the period | 9904 | €1,391 | -€27,802 | -€29,193 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,391 | -€27,802 | -€29,193 |
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.