A5 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.
A5 IMMO
Largest movements
- Tangible fixed assets +€546,551
up €546,551 (+121.6%), from €449,346 to €995,897
- Receivables within one year -€97,681
down €97,681 (-96.2%), from €101,544 to €3,863
of which Other amounts receivable: -€57,681
- Cash -€33,070
down €33,070 (-76.9%), from €43,015 to €9,945
mainly Investment in fixed assets (net) (-€593,472) and Contributions, distributions and other (-€100,000)
- Deferred charges and accrued income +€11,493
up €11,493 (+1324.3%), from €868 to €12,361
- Debts after one year +€398,706
up €398,706 (+200.0%), from €199,339 to €598,045
of which Financial debts: +€346,806
- Profit (loss) carried forward -€42,960
down €42,960 (-35.1%), from €122,400 to €79,440
- Other debts +€41,430
up €41,430 (+41.4%), from €100,000 to €141,430
- Current portion of long-term debt +€20,824
up €20,824 (+44.5%), from €46,820 to €67,645
- Short-term financial debts +€11,741
new in 2025: €11,741
- Depreciation +€31,334
up €31,334 (+201.0%), from €15,588 to €46,921
- Gross operating margin +€15,893
up €15,893 (+11.7%), from €135,726 to €151,619
- Financial charges +€10,184
up €10,184 (+672.5%), from €1,514 to €11,699
- Taxes +€1,889
up €1,889 (+11.0%), from €17,124 to €19,013
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 | €594,774 | €1,022,066 | +€427,292 | +71.8% |
| Fixed assets | 21/28 | €449,346 | €995,897 | +€546,551 | +121.6% |
| Tangible fixed assets | 22/27 | €449,346 | €995,897 | +€546,551 | +121.6% |
| Land and buildings | 22 | €449,346 | €995,897 | +€546,551 | +121.6% |
| Current assets | 29/58 | €145,427 | €26,169 | -€119,259 | -82.0% |
| Amounts receivable within one year | 40/41 | €101,544 | €3,863 | -€97,681 | -96.2% |
| Trade receivables | 40 | €40,000 | - | -€40,000 | |
| Other amounts receivable | 41 | €61,544 | €3,863 | -€57,681 | -93.7% |
| Cash at bank and in hand | 54/58 | €43,015 | €9,945 | -€33,070 | -76.9% |
| Deferred charges and accrued income | 490/1 | €868 | €12,361 | +€11,493 | +1324.3% |
| Total equity and liabilities | 10/49 | €594,774 | €1,022,066 | +€427,292 | +71.8% |
| Equity | 10/15 | €244,984 | €202,024 | -€42,960 | -17.5% |
| Contributions | 10/11 | €86,375 | €86,375 | = | 0.0% |
| Reserves | 13 | €36,209 | €36,209 | = | 0.0% |
| Distributable reserves | 133 | €36,209 | €36,209 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,400 | €79,440 | -€42,960 | -35.1% |
| Amounts payable | 17/49 | €349,790 | €820,042 | +€470,252 | +134.4% |
| Amounts payable after more than one year | 17 | €199,339 | €598,045 | +€398,706 | +200.0% |
| Financial debts | 170/4 | €199,339 | €546,145 | +€346,806 | +174.0% |
| Other amounts payable | 178/9 | - | €51,900 | +€51,900 | |
| Amounts payable within one year | 42/48 | €150,450 | €221,820 | +€71,369 | +47.4% |
| Current portion of amounts payable after more than one year | 42 | €46,820 | €67,645 | +€20,824 | +44.5% |
| Financial debts | 43 | - | €11,741 | +€11,741 | |
| Credit institutions | 430/8 | - | €11,741 | +€11,741 | |
| Trade debts | 44 | €3,630 | €1,004 | -€2,626 | -72.3% |
| Suppliers | 440/4 | €3,630 | €1,004 | -€2,626 | -72.3% |
| Other amounts payable | 47/48 | €100,000 | €141,430 | +€41,430 | +41.4% |
| Accrued charges and deferred income | 492/3 | - | €177 | +€177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,588 | €46,921 | +€31,334 | +201.0% |
| Other operating charges | 640/8 | €16,322 | €16,946 | +€624 | +3.8% |
| Gross operating margin | 9900 | €135,726 | €151,619 | +€15,893 | +11.7% |
| Operating profit (loss) | 9901 | €103,816 | €87,752 | -€16,064 | -15.5% |
| Financial charges | 65/66B | €1,514 | €11,699 | +€10,184 | +672.5% |
| Recurring financial charges | 65 | €1,514 | €11,699 | +€10,184 | +672.5% |
| Profit (loss) for the period before taxes | 9903 | €102,302 | €76,053 | -€26,249 | -25.7% |
| Income taxes | 67/77 | €17,124 | €19,013 | +€1,889 | +11.0% |
| Profit (loss) for the period | 9904 | €85,178 | €57,040 | -€28,138 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €85,178 | €57,040 | -€28,138 | -33.0% |
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 11 October 2026 via checked.be.