TRS 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.
TRS IMMO
Largest movements
- Receivables within one year +€122,444
up €122,444 (+1100.1%), from €11,130 to €133,574
of which Other amounts receivable: +€127,743
- Tangible fixed assets -€26,952
down €26,952 (-2.8%), from €971,559 to €944,607
of which Land and buildings: -€45,594
- Cash +€15,109
up €15,109 (+140.0%), from €10,796 to €25,905
mainly Debts after one year (+€95,198) and Depreciation (+€46,639)
- Debts after one year +€95,198
up €95,198 (+9.9%), from €965,353 to €1.1m
of which Financial debts: +€95,198
- Gross operating margin +€25,348
up €25,348 (+42.9%), from €59,023 to €84,370
- Financial charges -€1,140
down €1,140 (-4.4%), from €25,643 to €24,503
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 | €993,670 | €1,104,237 | +€110,566 | +11.1% |
| Fixed assets | 21/28 | €971,559 | €944,607 | -€26,952 | -2.8% |
| Tangible fixed assets | 22/27 | €971,559 | €944,607 | -€26,952 | -2.8% |
| Land and buildings | 22 | €961,934 | €916,340 | -€45,594 | -4.7% |
| Plant, machinery and equipment | 23 | €9,625 | €8,580 | -€1,045 | -10.9% |
| Assets under construction and advance payments | 27 | - | €19,687 | +€19,687 | |
| Current assets | 29/58 | €22,111 | €159,630 | +€137,518 | +621.9% |
| Amounts receivable within one year | 40/41 | €11,130 | €133,574 | +€122,444 | +1100.1% |
| Trade receivables | 40 | €11,130 | €5,831 | -€5,299 | -47.6% |
| Other amounts receivable | 41 | - | €127,743 | +€127,743 | |
| Cash at bank and in hand | 54/58 | €10,796 | €25,905 | +€15,109 | +140.0% |
| Deferred charges and accrued income | 490/1 | €185 | €151 | -€35 | -18.7% |
| Total equity and liabilities | 10/49 | €993,670 | €1,104,237 | +€110,566 | +11.1% |
| Equity | 10/15 | -€35,520 | -€28,327 | +€7,194 | +20.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,520 | -€78,327 | +€7,194 | +8.4% |
| Amounts payable | 17/49 | €1,029,191 | €1,132,563 | +€103,372 | +10.0% |
| Amounts payable after more than one year | 17 | €965,353 | €1,060,551 | +€95,198 | +9.9% |
| Financial debts | 170/4 | €839,069 | €934,266 | +€95,198 | +11.3% |
| Other amounts payable | 178/9 | €126,284 | €126,284 | = | 0.0% |
| Amounts payable within one year | 42/48 | €61,784 | €70,047 | +€8,263 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €41,136 | €48,011 | +€6,875 | +16.7% |
| Trade debts | 44 | €4,359 | €15,020 | +€10,661 | +244.6% |
| Suppliers | 440/4 | €4,359 | €15,020 | +€10,661 | +244.6% |
| Taxes, remuneration and social security | 45 | €8,852 | €2,564 | -€6,288 | -71.0% |
| Taxes | 450/3 | €8,852 | €2,564 | -€6,288 | -71.0% |
| Other amounts payable | 47/48 | €7,437 | €4,452 | -€2,985 | -40.1% |
| Accrued charges and deferred income | 492/3 | €2,054 | €1,965 | -€89 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,214 | €46,639 | +€424 | +0.9% |
| Other operating charges | 640/8 | €5,914 | €6,034 | +€121 | +2.0% |
| Gross operating margin | 9900 | €59,023 | €84,370 | +€25,348 | +42.9% |
| Operating profit (loss) | 9901 | €6,895 | €31,697 | +€24,803 | +359.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €25,643 | €24,503 | -€1,140 | -4.4% |
| Recurring financial charges | 65 | €25,643 | €24,503 | -€1,140 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | -€18,748 | €7,194 | +€25,942 | |
| Profit (loss) for the period | 9904 | -€18,748 | €7,194 | +€25,942 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,748 | €7,194 | +€25,942 |
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 4 October 2026 via checked.be.