ToRoNo-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.
ToRoNo-Immo
Largest movements
- Current investments +€172,500
new in 2025: €172,500
- Cash -€152,505
down €152,505 (-32.2%), from €474,048 to €321,543
mainly Current investments (-€172,500) and Contributions, distributions and other (-€62,000)
- Tangible fixed assets -€28,477
down €28,477 (-1.5%), from €1.9m to €1.8m
of which Land and buildings: -€20,592
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€30,456
down €30,456 (-21.5%), from €141,409 to €110,953
- Depreciation -€23,861
down €23,861 (-43.0%), from €55,538 to €31,677
- Financial charges +€2,990
up €2,990 (+9968.1%), from €30 to €3,020
- Financial income +€2,972
up €2,972 (+72.0%), from €4,130 to €7,103
- Taxes -€2,277
down €2,277 (-9.8%), from €23,174 to €20,897
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 | €2,346,525 | €2,327,703 | -€18,822 | -0.8% |
| Fixed assets | 21/28 | €1,861,294 | €1,832,817 | -€28,477 | -1.5% |
| Tangible fixed assets | 22/27 | €1,852,544 | €1,824,067 | -€28,477 | -1.5% |
| Land and buildings | 22 | €1,810,379 | €1,789,787 | -€20,592 | -1.1% |
| Furniture and vehicles | 24 | €42,164 | €34,280 | -€7,885 | -18.7% |
| Financial fixed assets | 28 | €8,750 | €8,750 | = | 0.0% |
| Current assets | 29/58 | €485,232 | €494,887 | +€9,655 | +2.0% |
| Amounts receivable within one year | 40/41 | €11,184 | €844 | -€10,340 | -92.5% |
| Trade receivables | 40 | €8,820 | - | -€8,820 | |
| Other amounts receivable | 41 | €2,363 | €844 | -€1,520 | -64.3% |
| Current investments | 50/53 | - | €172,500 | +€172,500 | |
| Cash at bank and in hand | 54/58 | €474,048 | €321,543 | -€152,505 | -32.2% |
| Total equity and liabilities | 10/49 | €2,346,525 | €2,327,703 | -€18,822 | -0.8% |
| Equity | 10/15 | €2,223,364 | €2,213,315 | -€10,049 | -0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,591,906 | €1,591,906 | = | 0.0% |
| Reserves | 13 | €563,038 | €553,038 | -€10,000 | -1.8% |
| Non-distributable reserves | 130/1 | €177,446 | €177,446 | = | 0.0% |
| Other | 1319 | €177,446 | €177,446 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,593 | €25,593 | = | 0.0% |
| Distributable reserves | 133 | €360,000 | €350,000 | -€10,000 | -2.8% |
| Profit (loss) carried forward | 14 | €6,420 | €6,371 | -€49 | -0.8% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €123,161 | €114,388 | -€8,773 | -7.1% |
| Amounts payable after more than one year | 17 | €23,000 | €23,000 | = | 0.0% |
| Other amounts payable | 178/9 | €23,000 | €23,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €100,161 | €91,388 | -€8,773 | -8.8% |
| Trade debts | 44 | €4,993 | €2,174 | -€2,819 | -56.5% |
| Suppliers | 440/4 | €4,993 | €2,174 | -€2,819 | -56.5% |
| Taxes, remuneration and social security | 45 | €618 | €4,137 | +€3,519 | +569.4% |
| Taxes | 450/3 | €618 | €4,137 | +€3,519 | +569.4% |
| Other amounts payable | 47/48 | €94,550 | €85,078 | -€9,472 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,538 | €31,677 | -€23,861 | -43.0% |
| Other operating charges | 640/8 | €10,467 | €10,509 | +€42 | +0.4% |
| Gross operating margin | 9900 | €141,409 | €110,953 | -€30,456 | -21.5% |
| Operating profit (loss) | 9901 | €75,403 | €68,766 | -€6,637 | -8.8% |
| Financial income | 75/76B | €4,130 | €7,103 | +€2,972 | +72.0% |
| Recurring financial income | 75 | €4,130 | €7,103 | +€2,972 | +72.0% |
| Financial charges | 65/66B | €30 | €3,020 | +€2,990 | +9968.1% |
| Recurring financial charges | 65 | €30 | €3,020 | +€2,990 | +9968.1% |
| Profit (loss) for the period before taxes | 9903 | €79,504 | €72,848 | -€6,655 | -8.4% |
| Income taxes | 67/77 | €23,174 | €20,897 | -€2,277 | -9.8% |
| Profit (loss) for the period | 9904 | €56,329 | €51,951 | -€4,378 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,329 | €51,951 | -€4,378 | -7.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.