Tianel 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.
Tianel Immo
Largest movements
- Stocks and contracts +€172,285
up €172,285 (+157%), from €109,727 to €282,012
- Cash +€35,415
up €35,415 (+4,773%), from €742 to €36,157
mainly Current portion of long-term debt (+€172,000) and Net result for the year (+€40,129)
- Receivables after one year -€5,955
down €5,955 (-63.4%), from €9,395 to €3,440
- Current portion of long-term debt +€172,000
new in 2025: €172,000
- Reserves +€40,000
up €40,000 (+400%), from €10,000 to €50,000
- Debts after one year -€24,118
down €24,118 (-23.0%), from €104,754 to €80,636
- Tax, wage and social debts +€13,447
up €13,447 (+398%), from €3,376 to €16,823
- Gross operating margin +€42,563
up €42,563 (+306%), from €13,891 to €56,454
- Taxes +€10,070
up €10,070 (+298%), from €3,376 to €13,446
- Financial charges +€2,177
up €2,177 (+4,269%), from €51 to €2,228
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 | €122,539 | €324,817 | +€202,278 | +165% |
| Fixed assets | 21/28 | €1,855 | €1,348 | -€507 | -27.3% |
| Tangible fixed assets | 22/27 | €1,855 | €1,348 | -€507 | -27.3% |
| Furniture and vehicles | 24 | €1,855 | €1,348 | -€507 | -27.3% |
| Current assets | 29/58 | €120,684 | €323,469 | +€202,785 | +168% |
| Amounts receivable after more than one year | 29 | €9,395 | €3,440 | -€5,955 | -63.4% |
| Other amounts receivable | 291 | €9,395 | €3,440 | -€5,955 | -63.4% |
| Stocks and contracts in progress | 3 | €109,727 | €282,012 | +€172,285 | +157% |
| Stocks | 30/36 | €109,727 | €282,012 | +€172,285 | +157% |
| Cash at bank and in hand | 54/58 | €742 | €36,157 | +€35,415 | +4,773% |
| Deferred charges and accrued income | 490/1 | €820 | €1,860 | +€1,040 | +127% |
| Total equity and liabilities | 10/49 | €122,539 | €324,817 | +€202,278 | +165% |
| Equity | 10/15 | €13,290 | €53,419 | +€40,129 | +302% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €50,000 | +€40,000 | +400% |
| Distributable reserves | 133 | €10,000 | €50,000 | +€40,000 | +400% |
| Profit (loss) carried forward | 14 | €290 | €419 | +€129 | +44.5% |
| Amounts payable | 17/49 | €109,249 | €271,398 | +€162,149 | +148% |
| Amounts payable after more than one year | 17 | €104,754 | €80,636 | -€24,118 | -23.0% |
| Other amounts payable | 178/9 | €104,754 | €80,636 | -€24,118 | -23.0% |
| Amounts payable within one year | 42/48 | €4,495 | €190,762 | +€186,267 | +4,144% |
| Current portion of amounts payable after more than one year | 42 | - | €172,000 | +€172,000 | |
| Trade debts | 44 | €1,119 | €1,939 | +€820 | +73.3% |
| Suppliers | 440/4 | €1,119 | €1,939 | +€820 | +73.3% |
| Taxes, remuneration and social security | 45 | €3,376 | €16,823 | +€13,447 | +398% |
| Taxes | 450/3 | €3,376 | €16,823 | +€13,447 | +398% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174 | €507 | +€333 | +191% |
| Other operating charges | 640/8 | - | €144 | +€144 | |
| Gross operating margin | 9900 | €13,891 | €56,454 | +€42,563 | +306% |
| Operating profit (loss) | 9901 | €13,717 | €55,803 | +€42,086 | +307% |
| Financial charges | 65/66B | €51 | €2,228 | +€2,177 | +4,269% |
| Recurring financial charges | 65 | €51 | €2,228 | +€2,177 | +4,269% |
| Profit (loss) for the period before taxes | 9903 | €13,666 | €53,575 | +€39,909 | +292% |
| Income taxes | 67/77 | €3,376 | €13,446 | +€10,070 | +298% |
| Profit (loss) for the period | 9904 | €10,290 | €40,129 | +€29,839 | +290% |
| Profit (loss) for the period to be appropriated | 9905 | €10,290 | €40,129 | +€29,839 | +290% |
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 27 October 2026 via checked.be.