Vastgoed Telma: 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.
Vastgoed Telma
Largest movements
- Tangible fixed assets +€10,014
up €10,014 (+1.5%), from €657,205 to €667,219
of which Assets under construction and advance payments: +€27,500
- Cash +€8,939
up €8,939 (+164%), from €5,439 to €14,378
mainly Other debts (+€27,396) and Net result for the year (+€19,379)
- Debts after one year -€33,483
down €33,483 (-10.7%), from €311,837 to €278,355
- Other debts +€27,396
up €27,396 (+11.1%), from €247,648 to €275,044
- Profit (loss) carried forward +€19,379
up €19,379 (+72.8%), from €26,602 to €45,981
- Gross operating margin +€10,415
up €10,415 (+23.8%), from €43,768 to €54,183
- Taxes +€2,940
up €2,940 (+71.5%), from €4,114 to €7,054
- Financial charges -€569
down €569 (-9.2%), from €6,213 to €5,643
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 | €666,645 | €683,484 | +€16,838 | +2.5% |
| Fixed assets | 21/28 | €657,205 | €667,219 | +€10,014 | +1.5% |
| Tangible fixed assets | 22/27 | €657,205 | €667,219 | +€10,014 | +1.5% |
| Land and buildings | 22 | €656,596 | €639,173 | -€17,423 | -2.7% |
| Plant, machinery and equipment | 23 | €609 | €546 | -€63 | -10.4% |
| Assets under construction and advance payments | 27 | - | €27,500 | +€27,500 | |
| Current assets | 29/58 | €9,440 | €16,265 | +€6,825 | +72.3% |
| Amounts receivable within one year | 40/41 | €3,500 | €1,350 | -€2,150 | -61.4% |
| Trade receivables | 40 | €3,500 | €1,350 | -€2,150 | -61.4% |
| Cash at bank and in hand | 54/58 | €5,439 | €14,378 | +€8,939 | +164% |
| Deferred charges and accrued income | 490/1 | €501 | €537 | +€36 | +7.2% |
| Total equity and liabilities | 10/49 | €666,645 | €683,484 | +€16,838 | +2.5% |
| Equity | 10/15 | €66,602 | €85,981 | +€19,379 | +29.1% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,602 | €45,981 | +€19,379 | +72.8% |
| Amounts payable | 17/49 | €600,043 | €597,503 | -€2,540 | -0.4% |
| Amounts payable after more than one year | 17 | €311,837 | €278,355 | -€33,483 | -10.7% |
| Financial debts | 170/4 | €311,837 | €278,355 | -€33,483 | -10.7% |
| Amounts payable within one year | 42/48 | €284,961 | €316,138 | +€31,177 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €32,942 | €33,483 | +€541 | +1.6% |
| Trade debts | 44 | €107 | €557 | +€450 | +421% |
| Suppliers | 440/4 | €107 | €557 | +€450 | +421% |
| Taxes, remuneration and social security | 45 | €4,264 | €7,054 | +€2,790 | +65.4% |
| Taxes | 450/3 | €4,264 | €7,054 | +€2,790 | +65.4% |
| Other amounts payable | 47/48 | €247,648 | €275,044 | +€27,396 | +11.1% |
| Accrued charges and deferred income | 492/3 | €3,244 | €3,010 | -€234 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,447 | €17,486 | +€39 | +0.2% |
| Other operating charges | 640/8 | €4,959 | €4,620 | -€338 | -6.8% |
| Gross operating margin | 9900 | €43,768 | €54,183 | +€10,415 | +23.8% |
| Operating profit (loss) | 9901 | €21,362 | €32,076 | +€10,714 | +50.2% |
| Financial charges | 65/66B | €6,213 | €5,643 | -€569 | -9.2% |
| Recurring financial charges | 65 | €6,213 | €5,643 | -€569 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €15,149 | €26,433 | +€11,284 | +74.5% |
| Income taxes | 67/77 | €4,114 | €7,054 | +€2,940 | +71.5% |
| Profit (loss) for the period | 9904 | €11,035 | €19,379 | +€8,344 | +75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,035 | €19,379 | +€8,344 | +75.6% |
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 28 October 2026 via checked.be.