THS 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.
THS IMMO
Largest movements
- Tangible fixed assets -€12,050
down €12,050 (-2.9%), from €411,275 to €399,225
of which Land and buildings: -€10,321
- Current portion of long-term debt -€22,131
no longer reported in 2025 (was €22,131)
- Profit (loss) carried forward +€11,374
up €11,374 (+14.6%), from €78,110 to €89,484
- Trade debts -€6,403
down €6,403 (-86.1%), from €7,432 to €1,030
- Gross operating margin +€6,300
up €6,300 (+14.4%), from €43,774 to €50,074
- Financial income -€3,272
no longer reported in 2025 (was €3,272)
- Financial charges -€2,492
down €2,492 (-76.4%), from €3,261 to €769
- Other operating charges +€1,599
up €1,599 (+31.2%), from €5,124 to €6,723
- Depreciation +€1,283
up €1,283 (+5.1%), from €25,148 to €26,431
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.
Derived cash bridge
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 | €623,956 | €608,573 | -€15,382 | -2.5% |
| Fixed assets | 21/28 | €411,275 | €399,225 | -€12,050 | -2.9% |
| Tangible fixed assets | 22/27 | €411,275 | €399,225 | -€12,050 | -2.9% |
| Land and buildings | 22 | €296,772 | €286,451 | -€10,321 | -3.5% |
| Plant, machinery and equipment | 23 | €114,503 | €112,774 | -€1,729 | -1.5% |
| Current assets | 29/58 | €212,681 | €209,348 | -€3,333 | -1.6% |
| Amounts receivable within one year | 40/41 | €175,000 | €175,691 | +€691 | +0.4% |
| Trade receivables | 40 | - | €691 | +€691 | |
| Other amounts receivable | 41 | €175,000 | €175,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,188 | €31,621 | -€2,567 | -7.5% |
| Deferred charges and accrued income | 490/1 | €3,493 | €2,036 | -€1,457 | -41.7% |
| Total equity and liabilities | 10/49 | €623,956 | €608,573 | -€15,382 | -2.5% |
| Equity | 10/15 | €590,710 | €602,084 | +€11,374 | +1.9% |
| Contributions | 10/11 | €512,600 | €512,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,110 | €89,484 | +€11,374 | +14.6% |
| Amounts payable | 17/49 | €33,246 | €6,489 | -€26,756 | -80.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €33,246 | €6,489 | -€26,756 | -80.5% |
| Current portion of amounts payable after more than one year | 42 | €22,131 | - | -€22,131 | |
| Trade debts | 44 | €7,432 | €1,030 | -€6,403 | -86.1% |
| Suppliers | 440/4 | €7,432 | €1,030 | -€6,403 | -86.1% |
| Taxes, remuneration and social security | 45 | €3,682 | €5,460 | +€1,778 | +48.3% |
| Taxes | 450/3 | €3,682 | €5,460 | +€1,778 | +48.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,148 | €26,431 | +€1,283 | +5.1% |
| Other operating charges | 640/8 | €5,124 | €6,723 | +€1,599 | +31.2% |
| Gross operating margin | 9900 | €43,774 | €50,074 | +€6,300 | +14.4% |
| Operating profit (loss) | 9901 | €13,502 | €16,920 | +€3,419 | +25.3% |
| Financial income | 75/76B | €3,272 | - | -€3,272 | |
| Recurring financial income | 75 | €3,272 | - | -€3,272 | |
| Financial charges | 65/66B | €3,261 | €769 | -€2,492 | -76.4% |
| Recurring financial charges | 65 | €3,261 | €769 | -€2,492 | -76.4% |
| Profit (loss) for the period before taxes | 9903 | €13,512 | €16,152 | +€2,639 | +19.5% |
| Income taxes | 67/77 | €3,682 | €4,778 | +€1,096 | +29.8% |
| Profit (loss) for the period | 9904 | €9,830 | €11,374 | +€1,544 | +15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,830 | €11,374 | +€1,544 | +15.7% |
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 15 October 2026 via checked.be.