TD - IMMO: what changed
Two fiscal 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.
TD - IMMO
Largest movements
- Tangible fixed assets -€21,288
down €21,288 (-7.9%), from €269,978 to €248,690
of which Land and buildings: -€20,875
- Cash -€6,431
down €6,431 (-92.6%), from €6,945 to €514
mainly Debts after one year (-€24,871) and Investment in fixed assets (net) (-€5,363)
- Debts after one year -€24,871
down €24,871 (-10.5%), from €237,912 to €213,041
of which Financial debts: -€22,660
- Gross operating margin -€6,324
down €6,324 (-16.0%), from €39,472 to €33,148
- Financial charges -€548
down €548 (-9.4%), from €5,859 to €5,311
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 | €288,751 | €266,084 | -€22,667 | -7.9% |
| Fixed assets | 21/28 | €270,530 | €251,506 | -€19,023 | -7.0% |
| Tangible fixed assets | 22/27 | €269,978 | €248,690 | -€21,288 | -7.9% |
| Land and buildings | 22 | €269,564 | €248,690 | -€20,875 | -7.7% |
| Furniture and vehicles | 24 | €413 | €0 | -€413 | -100.0% |
| Financial fixed assets | 28 | €552 | €2,817 | +€2,265 | +410.2% |
| Current assets | 29/58 | €18,221 | €14,577 | -€3,644 | -20.0% |
| Amounts receivable within one year | 40/41 | €9,856 | €10,416 | +€560 | +5.7% |
| Trade receivables | 40 | €9,856 | €10,416 | +€560 | +5.7% |
| Cash at bank and in hand | 54/58 | €6,945 | €514 | -€6,431 | -92.6% |
| Deferred charges and accrued income | 490/1 | €1,420 | €3,647 | +€2,227 | +156.9% |
| Total equity and liabilities | 10/49 | €288,751 | €266,084 | -€22,667 | -7.9% |
| Equity | 10/15 | €22,013 | €20,644 | -€1,370 | -6.2% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,987 | -€14,357 | -€1,370 | -10.5% |
| Amounts payable | 17/49 | €266,737 | €245,440 | -€21,297 | -8.0% |
| Amounts payable after more than one year | 17 | €237,912 | €213,041 | -€24,871 | -10.5% |
| Financial debts | 170/4 | €230,701 | €208,041 | -€22,660 | -9.8% |
| Other amounts payable | 178/9 | €7,211 | €5,000 | -€2,211 | -30.7% |
| Amounts payable within one year | 42/48 | €28,755 | €32,328 | +€3,573 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €22,171 | €22,660 | +€489 | +2.2% |
| Trade debts | 44 | €517 | €3,303 | +€2,787 | +539.6% |
| Suppliers | 440/4 | €517 | €3,303 | +€2,787 | +539.6% |
| Taxes, remuneration and social security | 45 | - | €167 | +€167 | |
| Taxes | 450/3 | - | €167 | +€167 | |
| Other amounts payable | 47/48 | €6,067 | €6,198 | +€130 | +2.1% |
| Accrued charges and deferred income | 492/3 | €70 | €72 | +€1 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,720 | €24,386 | -€334 | -1.3% |
| Other operating charges | 640/8 | €3,405 | €3,583 | +€179 | +5.2% |
| Operating charges capitalised as restructuring costs | 649 | - | €0 | = | |
| Non-recurring operating charges | 66A | - | €1,237 | +€1,237 | |
| Gross operating margin | 9900 | €39,472 | €33,148 | -€6,324 | -16.0% |
| Operating profit (loss) | 9901 | €11,347 | €3,941 | -€7,406 | -65.3% |
| Financial charges | 65/66B | €5,859 | €5,311 | -€548 | -9.4% |
| Recurring financial charges | 65 | €5,859 | €5,311 | -€548 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €5,488 | -€1,370 | -€6,858 | |
| Profit (loss) for the period | 9904 | €5,488 | -€1,370 | -€6,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,488 | -€1,370 | -€6,858 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.