A&R - 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.
A&R - IMMO
Largest movements
- Tangible fixed assets -€58,961
down €58,961 (-4.5%), from €1.3m to €1.2m
- Receivables within one year -€39,541
down €39,541 (-41.4%), from €95,484 to €55,942
of which Trade receivables: -€29,361
- Profit (loss) carried forward -€74,191
down €74,191 (-5.8%), from €1.3m to €1.2m
- Investment grants +€71,339
up €71,339 (+717%), from €9,955 to €81,293
- Trade debts -€46,867
down €46,867 (-94.8%), from €49,433 to €2,566
- Debts after one year -€30,636
no longer reported in 2025 (was €30,636)
- Gross operating margin +€64,553
up €64,553 (+20.1%), from €320,754 to €385,308
- Financial income -€25,769
down €25,769 (-99.9%), from €25,790 to €21
- Taxes +€10,279
up €10,279 (+32.5%), from €31,658 to €41,936
- Depreciation +€8,341
up €8,341 (+5.2%), from €159,697 to €168,038
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 | €1,732,988 | €1,643,485 | -€89,504 | -5.2% |
| Fixed assets | 21/28 | €1,302,005 | €1,243,045 | -€58,961 | -4.5% |
| Tangible fixed assets | 22/27 | €1,302,005 | €1,243,045 | -€58,961 | -4.5% |
| Land and buildings | 22 | €1,302,005 | €1,243,045 | -€58,961 | -4.5% |
| Current assets | 29/58 | €430,983 | €400,440 | -€30,543 | -7.1% |
| Amounts receivable within one year | 40/41 | €95,484 | €55,942 | -€39,541 | -41.4% |
| Trade receivables | 40 | €77,138 | €47,777 | -€29,361 | -38.1% |
| Other amounts receivable | 41 | €18,346 | €8,166 | -€10,181 | -55.5% |
| Cash at bank and in hand | 54/58 | €335,499 | €342,275 | +€6,775 | +2.0% |
| Deferred charges and accrued income | 490/1 | - | €2,223 | +€2,223 | |
| Total equity and liabilities | 10/49 | €1,732,988 | €1,643,485 | -€89,504 | -5.2% |
| Equity | 10/15 | €1,355,142 | €1,352,290 | -€2,853 | -0.2% |
| Contributions | 10/11 | €67,075 | €67,075 | = | 0.0% |
| Reserves | 13 | €6,707 | €6,707 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,707 | €6,707 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,707 | €6,707 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,271,405 | €1,197,214 | -€74,191 | -5.8% |
| Investment grants | 15 | €9,955 | €81,293 | +€71,339 | +717% |
| Amounts payable | 17/49 | €377,846 | €291,195 | -€86,651 | -22.9% |
| Amounts payable after more than one year | 17 | €30,636 | - | -€30,636 | |
| Financial debts | 170/4 | €30,636 | - | -€30,636 | |
| Amounts payable within one year | 42/48 | €289,928 | €233,202 | -€56,726 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €40,495 | €30,636 | -€9,859 | -24.3% |
| Trade debts | 44 | €49,433 | €2,566 | -€46,867 | -94.8% |
| Suppliers | 440/4 | €49,433 | €2,566 | -€46,867 | -94.8% |
| Other amounts payable | 47/48 | €200,000 | €200,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €57,282 | €57,993 | +€711 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,697 | €168,038 | +€8,341 | +5.2% |
| Other operating charges | 640/8 | €46,878 | €48,533 | +€1,655 | +3.5% |
| Gross operating margin | 9900 | €320,754 | €385,308 | +€64,553 | +20.1% |
| Operating profit (loss) | 9901 | €114,179 | €168,737 | +€54,558 | +47.8% |
| Financial income | 75/76B | €25,790 | €21 | -€25,769 | -99.9% |
| Recurring financial income | 75 | €25,790 | €21 | -€25,769 | -99.9% |
| Financial charges | 65/66B | €1,415 | €1,013 | -€402 | -28.4% |
| Recurring financial charges | 65 | €1,415 | €1,013 | -€402 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €138,555 | €167,745 | +€29,190 | +21.1% |
| Income taxes | 67/77 | €31,658 | €41,936 | +€10,279 | +32.5% |
| Profit (loss) for the period | 9904 | €106,897 | €125,809 | +€18,912 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €106,897 | €125,809 | +€18,912 | +17.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.