TH-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.
TH-IMMO
Largest movements
- Receivables within one year +€64,005
up €64,005 (+1045.3%), from €6,123 to €70,128
of which Other amounts receivable: +€52,652
- Tangible fixed assets -€23,482
down €23,482 (-8.2%), from €287,720 to €264,237
- Reserves +€42,070
up €42,070 (+5.4%), from €780,228 to €822,298
of which Distributable reserves: +€42,070
- Depreciation -€25,540
down €25,540 (-38.0%), from €67,147 to €41,607
- Taxes +€9,541
up €9,541 (+212.9%), from €4,482 to €14,023
- Financial income +€5,267
up €5,267 (+109.0%), from €4,830 to €10,097
- Gross operating margin +€2,946
up €2,946 (+2.7%), from €108,919 to €111,866
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 | €1,003,762 | €1,046,091 | +€42,329 | +4.2% |
| Fixed assets | 21/28 | €287,720 | €264,237 | -€23,482 | -8.2% |
| Tangible fixed assets | 22/27 | €287,720 | €264,237 | -€23,482 | -8.2% |
| Land and buildings | 22 | €287,720 | €264,237 | -€23,482 | -8.2% |
| Current assets | 29/58 | €716,043 | €781,854 | +€65,811 | +9.2% |
| Amounts receivable within one year | 40/41 | €6,123 | €70,128 | +€64,005 | +1045.3% |
| Trade receivables | 40 | €6,107 | €17,459 | +€11,352 | +185.9% |
| Other amounts receivable | 41 | €17 | €52,669 | +€52,652 | +313968.0% |
| Current investments | 50/53 | €600,000 | €600,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,919 | €111,726 | +€1,806 | +1.6% |
| Total equity and liabilities | 10/49 | €1,003,762 | €1,046,091 | +€42,329 | +4.2% |
| Equity | 10/15 | €995,091 | €1,037,162 | +€42,070 | +4.2% |
| Contributions | 10/11 | €214,863 | €214,863 | = | 0.0% |
| Reserves | 13 | €780,228 | €822,298 | +€42,070 | +5.4% |
| Non-distributable reserves | 130/1 | €21,486 | €21,486 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,486 | €21,486 | = | 0.0% |
| Distributable reserves | 133 | €758,742 | €800,812 | +€42,070 | +5.5% |
| Amounts payable | 17/49 | €8,671 | €8,929 | +€258 | +3.0% |
| Amounts payable within one year | 42/48 | €3,121 | €3,379 | +€258 | +8.3% |
| Trade debts | 44 | €31 | €635 | +€604 | +1923.1% |
| Suppliers | 440/4 | €31 | €635 | +€604 | +1923.1% |
| Taxes, remuneration and social security | 45 | €582 | €2,744 | +€2,163 | +371.7% |
| Taxes | 450/3 | €582 | €2,744 | +€2,163 | +371.7% |
| Other amounts payable | 47/48 | €2,508 | - | -€2,508 | |
| Accrued charges and deferred income | 492/3 | €5,550 | €5,550 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,147 | €41,607 | -€25,540 | -38.0% |
| Other operating charges | 640/8 | €23,486 | €24,222 | +€736 | +3.1% |
| Gross operating margin | 9900 | €108,919 | €111,866 | +€2,946 | +2.7% |
| Operating profit (loss) | 9901 | €18,286 | €46,037 | +€27,751 | +151.8% |
| Financial income | 75/76B | €4,830 | €10,097 | +€5,267 | +109.0% |
| Recurring financial income | 75 | €4,830 | €10,097 | +€5,267 | +109.0% |
| Financial charges | 65/66B | €41 | €40 | -€0 | -0.9% |
| Recurring financial charges | 65 | €41 | €40 | -€0 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €23,075 | €56,094 | +€33,018 | +143.1% |
| Income taxes | 67/77 | €4,482 | €14,023 | +€9,541 | +212.9% |
| Profit (loss) for the period | 9904 | €18,593 | €42,070 | +€23,477 | +126.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,593 | €42,070 | +€23,477 | +126.3% |
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.