AA 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.
AA Immo
Largest movements
- Tangible fixed assets -€37,655
down €37,655 (-4.3%), from €871,784 to €834,130
- Debts after one year -€52,780
down €52,780 (-11.0%), from €480,195 to €427,415
- Tax, wage and social debts +€19,570
new in 2025: €19,570
- Advances received -€18,980
no longer reported in 2025 (was €18,980)
- Reserves +€16,631
up €16,631 (+27.3%), from €61,002 to €77,633
of which Distributable reserves: +€16,631
- Gross operating margin -€23,417
down €23,417 (-24.7%), from €94,744 to €71,327
- Taxes -€7,462
down €7,462 (-55.2%), from €13,516 to €6,054
- Depreciation +€3,244
up €3,244 (+9.4%), from €34,411 to €37,655
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 | €893,775 | €855,388 | -€38,387 | -4.3% |
| Fixed assets | 21/28 | €871,784 | €834,130 | -€37,655 | -4.3% |
| Tangible fixed assets | 22/27 | €871,784 | €834,130 | -€37,655 | -4.3% |
| Land and buildings | 22 | €871,784 | €834,130 | -€37,655 | -4.3% |
| Current assets | 29/58 | €21,991 | €21,258 | -€732 | -3.3% |
| Amounts receivable within one year | 40/41 | €2,730 | €2,730 | = | 0.0% |
| Other amounts receivable | 41 | €2,730 | €2,730 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,260 | €18,528 | -€732 | -3.8% |
| Total equity and liabilities | 10/49 | €893,775 | €855,388 | -€38,387 | -4.3% |
| Equity | 10/15 | €190,836 | €202,133 | +€11,297 | +5.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Revaluation surpluses | 12 | €117,333 | €112,000 | -€5,333 | -4.5% |
| Reserves | 13 | €61,002 | €77,633 | +€16,631 | +27.3% |
| Non-distributable reserves | 130/1 | €1,535 | €1,535 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,535 | €1,535 | = | 0.0% |
| Distributable reserves | 133 | €59,467 | €76,098 | +€16,631 | +28.0% |
| Amounts payable | 17/49 | €702,939 | €653,255 | -€49,684 | -7.1% |
| Amounts payable after more than one year | 17 | €480,195 | €427,415 | -€52,780 | -11.0% |
| Financial debts | 170/4 | €480,195 | €427,415 | -€52,780 | -11.0% |
| Amounts payable within one year | 42/48 | €222,744 | €225,840 | +€3,096 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €51,646 | €52,780 | +€1,134 | +2.2% |
| Trade debts | 44 | €1,634 | €1,634 | = | 0.0% |
| Suppliers | 440/4 | €1,634 | €1,634 | = | 0.0% |
| Advances received on contracts in progress | 46 | €18,980 | - | -€18,980 | |
| Taxes, remuneration and social security | 45 | - | €19,570 | +€19,570 | |
| Taxes | 450/3 | - | €19,570 | +€19,570 | |
| Other amounts payable | 47/48 | €150,485 | €151,857 | +€1,372 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,411 | €37,655 | +€3,244 | +9.4% |
| Other operating charges | 640/8 | €4,251 | €4,382 | +€132 | +3.1% |
| Gross operating margin | 9900 | €94,744 | €71,327 | -€23,417 | -24.7% |
| Operating profit (loss) | 9901 | €56,082 | €29,290 | -€26,792 | -47.8% |
| Financial charges | 65/66B | €11,815 | €11,938 | +€123 | +1.0% |
| Recurring financial charges | 65 | €11,815 | €11,938 | +€123 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €44,266 | €17,351 | -€26,915 | -60.8% |
| Income taxes | 67/77 | €13,516 | €6,054 | -€7,462 | -55.2% |
| Profit (loss) for the period | 9904 | €30,750 | €11,297 | -€19,453 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,750 | €11,297 | -€19,453 | -63.3% |
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 14 October 2026 via checked.be.