THIERS-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.
THIERS-IMMO
Largest movements
- Tangible fixed assets -€48,818
down €48,818 (-3.4%), from €1.4m to €1.4m
of which Land and buildings: -€50,523
- Debts after one year -€35,774
down €35,774 (-7.9%), from €452,752 to €416,978
- Profit (loss) carried forward -€25,885
down €25,885 (-18.8%), from -€138,051 to -€163,937
- Trade debts +€21,075
up €21,075 (+4022.9%), from €524 to €21,598
- Gross operating margin -€17,287
down €17,287 (-19.8%), from €87,423 to €70,136
- Taxes -€4,202
down €4,202 (-69.1%), from €6,078 to €1,877
- Depreciation +€1,335
up €1,335 (+1.9%), from €69,555 to €70,890
- Financial charges -€993
down €993 (-6.4%), from €15,596 to €14,603
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 | €1,760,730 | €1,723,675 | -€37,055 | -2.1% |
| Fixed assets | 21/28 | €1,440,221 | €1,391,403 | -€48,818 | -3.4% |
| Tangible fixed assets | 22/27 | €1,440,221 | €1,391,403 | -€48,818 | -3.4% |
| Land and buildings | 22 | €1,440,221 | €1,389,698 | -€50,523 | -3.5% |
| Assets under construction and advance payments | 27 | - | €1,705 | +€1,705 | |
| Current assets | 29/58 | €320,509 | €332,272 | +€11,763 | +3.7% |
| Amounts receivable within one year | 40/41 | €311,388 | €309,500 | -€1,888 | -0.6% |
| Other amounts receivable | 41 | €311,388 | €309,500 | -€1,888 | -0.6% |
| Cash at bank and in hand | 54/58 | €9,121 | €22,772 | +€13,651 | +149.7% |
| Total equity and liabilities | 10/49 | €1,760,730 | €1,723,675 | -€37,055 | -2.1% |
| Equity | 10/15 | €1,265,047 | €1,239,162 | -€25,885 | -2.0% |
| Contributions | 10/11 | €1,400,000 | €1,400,000 | = | 0.0% |
| Capital | 10 | €1,400,000 | €1,400,000 | = | 0.0% |
| Issued capital | 100 | €1,400,000 | €1,400,000 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,051 | -€163,937 | -€25,885 | -18.8% |
| Amounts payable | 17/49 | €495,683 | €484,513 | -€11,169 | -2.3% |
| Amounts payable after more than one year | 17 | €452,752 | €416,978 | -€35,774 | -7.9% |
| Financial debts | 170/4 | €452,752 | €416,978 | -€35,774 | -7.9% |
| Amounts payable within one year | 42/48 | €41,131 | €65,733 | +€24,603 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €34,795 | €35,774 | +€979 | +2.8% |
| Financial debts | 43 | €1,688 | €1,683 | -€5 | -0.3% |
| Credit institutions | 430/8 | €1,688 | €1,683 | -€5 | -0.3% |
| Trade debts | 44 | €524 | €21,598 | +€21,075 | +4022.9% |
| Suppliers | 440/4 | €524 | €21,598 | +€21,075 | +4022.9% |
| Taxes, remuneration and social security | 45 | €4,124 | €1,078 | -€3,046 | -73.9% |
| Taxes | 450/3 | €4,124 | €1,078 | -€3,046 | -73.9% |
| Other amounts payable | 47/48 | - | €5,600 | +€5,600 | |
| Accrued charges and deferred income | 492/3 | €1,800 | €1,802 | +€2 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,555 | €70,890 | +€1,335 | +1.9% |
| Other operating charges | 640/8 | €9,474 | €8,652 | -€822 | -8.7% |
| Gross operating margin | 9900 | €87,423 | €70,136 | -€17,287 | -19.8% |
| Operating profit (loss) | 9901 | €8,393 | -€9,406 | -€17,800 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -80.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -80.0% |
| Financial charges | 65/66B | €15,596 | €14,603 | -€993 | -6.4% |
| Recurring financial charges | 65 | €15,596 | €14,603 | -€993 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,202 | -€24,009 | -€16,807 | -233.4% |
| Income taxes | 67/77 | €6,078 | €1,877 | -€4,202 | -69.1% |
| Profit (loss) for the period | 9904 | -€13,280 | -€25,885 | -€12,605 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,280 | -€25,885 | -€12,605 | -94.9% |
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 9 October 2026 via checked.be.